The New Year Starts off Strong with Employment Gains

Employers added 227,000 jobs in January, exceeding economists’ expectations and marking the 76th consecutive month of job growth. This extends the record streak of job creation in the US and could reflect an economy that is approaching full employment.

Both the number of unemployed persons, at 7.6 million, and the unemployment rate, at 4.8 percent, were little changed from the prior month. The labor-force participation rate – Americans who had a job or were looking for one – ticked up to 62.9 percent from 62.7 percent in December, but it is still near its lowest level since the late 1970s.

The underemployment rate – people that are unemployed plus those who work part-time – rose 0.2 percent in January. Though the rate has fallen considerably in recent years, this is its highest level since October and nearly twice the level of the official jobless rate. Long-term unemployment – Americans out of work longer than six months – remains elevated at 24.4 percent.

America added 46,000 jobs in retail trade while construction rose by 36,000 and financial activities gained 32,000 jobs. Employment in health care also continued to trend up in January with an additional 18,000 positions being filled. Employment in other major industries, including mining, manufacturing, wholesale trade, transportation and warehousing, and information and government, showed little to no change over the month.

In January, average hourly earnings rose by 3-cents, following a 6-cent increase in December. Over the year, average hourly wages have risen by 2.5 percent, a sign of continued momentum from last year.

While this is the first jobs report to be released under the Trump administration, the survey was conducted weeks before the Presidential Inauguration so no doubt all of America will be watching closely to see how the state of unemployment starts to unfold.

Categories:
Blog Label:
Topic:
Tags:
SC
02/07/17 6:15 AM

More Blog Entries

12/06/24
Question: We have an employee claiming they shouldn't be classified as exempt from overtime. If it turns out they're right,...
11/22/24
The end of the year often brings a whirlwind of professional and family obligations – especially for nonprofit leaders...
11/15/24
With societal shifts, technological advancements, and economic fluctuations, nonprofit leaders must stay ahead of the curve to drive meaningful impact....

Terms Of Use

Privacy Policy and Terms of Use

UST maintains a secure site. This means that information we obtain from you in the process of enrolling is protected and cannot be viewed by others. Information about your agency is provided to our various service providers once you enroll in UST for the purpose of providing you with the best possible service. Your information will never be sold or rented to other entities that are not affiliated with UST. Agencies that are actively enrolled in UST are listed for review by other agencies, UST’s sponsors and potential participants, but no information specific to your agency can be reviewed by anyone not affiliated with UST and not otherwise engaged in providing services to you except as required by law or valid legal process.

Your use of this site and the provision of basic information constitute your consent for UST to use the information supplied.

UST may collect generic information about overall website traffic, and use other analytical information and tools to help us improve our website and provide the best possible information and service. As you browse UST’s website, cookies may also be placed on your computer so that we can better understand what information our visitors are most interested in, and to help direct you to other relevant information. These cookies do not collect personal information such as your name, email, postal address or phone number. To opt out of some of these cookies, click here. If you are a Twitter user, and prefer not to have Twitter ad content tailored to you, learn more here.

Further, our website may contain links to other sites. Anytime you connect to another website, their respective privacy policy will apply and UST is not responsible for the privacy practices of others.

This Privacy Policy and the Terms of Use for our site is subject to change.

Privacy Policy

Privacy Policy and Terms of Use

UST maintains a secure site. This means that information we obtain from you in the process of enrolling is protected and cannot be viewed by others. Information about your agency is provided to our various service providers once you enroll in UST for the purpose of providing you with the best possible service. Your information will never be sold or rented to other entities that are not affiliated with UST. Agencies that are actively enrolled in UST are listed for review by other agencies, UST’s sponsors and potential participants, but no information specific to your agency can be reviewed by anyone not affiliated with UST and not otherwise engaged in providing services to you except as required by law or valid legal process.

Your use of this site and the provision of basic information constitute your consent for UST to use the information supplied.

UST may collect generic information about overall website traffic, and use other analytical information and tools to help us improve our website and provide the best possible information and service. As you browse UST’s website, cookies may also be placed on your computer so that we can better understand what information our visitors are most interested in, and to help direct you to other relevant information. These cookies do not collect personal information such as your name, email, postal address or phone number. To opt out of some of these cookies, click here. If you are a Twitter user, and prefer not to have Twitter ad content tailored to you, learn more here.

Further, our website may contain links to other sites. Anytime you connect to another website, their respective privacy policy will apply and UST is not responsible for the privacy practices of others.

This Privacy Policy and the Terms of Use for our site is subject to change.