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Entries in Jobs Report (37)

Friday
Sep072012

Friday’s Jobs Report: Some Perspective on the Numbers

Jupiterimages/Thinkstock(NEW YORK) -- A  total of 96,000 jobs were added in August, and the unemployment rate edged down to 8.1 percent, according to the Labor Department's report released Friday.

Since the beginning of 2012, the unemployment rate has stayed in the narrow range between 8.1 and 8.3 percent, and it still possible that the unemployment rate could fall below eight percent (which would take it to its lowest level since President Obama took office).

The total number of unemployed people -- 12.5 million, says the Bureau of Labor Statistics -- changed only very little in August. The number of long-term unemployed (those jobless for 27 weeks or more) was five million, accounting for 40 percent of the total number of unemployed people.  

Here's a look at the numbers over the past two years.

IN THE PAST TWO YEARS:

Since September 2010, the economy has been steadily adding jobs.

TOTAL PRIVATE JOBS CREATED:

For 30 straight months, there has been private sector job growth, President likes to point out, with 4.6 million private sector jobs created in that time frame.

But for now, 2012 is faring worse than 2011 when it comes to employment. Since the beginning of 2012, employment growth has averaged 139,000 jobs per month, compared with an average monthly gain of 153,000 in 2011.

WHERE JOBS WERE ADDED:

Employment in food services and places that serve drinks increased by 28,000 in August.
Employment in professional and technical services rose 27,000.
Computer systems design and related services added 11,000 jobs, and management and technical consulting services added 9,000 jobs.
Health care employment rose by 17,000 in August. Ambulatory health care services and hospitals added 14,000 and 6,000 jobs, respectively.
Finance and insurance added 11,000 jobs in August. Employment in wholesale trade continued to trend up.

WHERE JOBS WERE LOST:

Manufacturing employment was down by 15,000.
And 7,000  government jobs were also lost this month.

Copyright 2012 ABC News Radio

Thursday
Sep062012

August Job Numbers: Last Ones Before Voting Begins

Stockbyte/Thinkstock(CHARLOTTE, N.C.) -- Election Day isn’t until Nov. 6, which gives Democrats and Republicans three more monthly jobs reports to anticipate, right?

Not exactly.  Although job numbers for August, September and October will be released before Election Day, August’s jobs report, which comes out Friday, is the last one before general election voting begins, thanks to early voting.

Between Friday’s jobs report and September’s, which comes out Oct. 5, several key swing states, including Iowa, Ohio and Virginia, will have already started to vote through early and in-person absentee ballots. And while historically speaking, the majority of votes are not cast early in these states, a sizable percentage (although less than half) of the voting population still gets to the polls before Election Day. In 2008, 30 percent of the total votes cast in Ohio came in early. In Iowa, it was 36 percent, and in Virginia, 14 percent.

By the time October’s jobs report is released Nov. 2, much of the vote could have already been cast in additional swing states, such as Colorado, Florida, Wisconsin and North Carolina, where President Obama will accept his party’s nomination tonight.

With polling showing Romney and Obama in a virtual dead heat, these early votes in key swing states could make a difference.

Copyright 2012 ABC News Radio

Friday
Aug032012

163,000 Jobs Added in July; Unemployment Rate Rises to 8.3%

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 163,000 jobs last month, exceeding expectations, the Labor Department reported Friday morning.

The figure is the biggest increase since February and more than double the amount of positions that were added in June, 80,000.  Economists had expected to see around 100,000 jobs added to the economy in July.

"One hundred sixty-three thousand jobs added to payrolls was more than I expected and more than the consensus," Hugh Johnson, the chairman and chief economist of Hugh Johnson Advisors, told ABC News Radio.

"Maybe, just maybe, cross your fingers, we're getting back to adding to payrolls at the level we really want to see, something between 150,000 to 200,000 jobs, that's what you'd really like to see at this stage of the very sluggish economic recovery," he added.

But the unemployment rate didn't fare as well.  That number ticked up slightly to 8.3 percent as more people sought work.

"Although we added 163,000, we weren't able to absorb all of the new entrants to the labor force and as a result, the unemployment rate went up from 8.2 to 8.3 percent," Johnson said.

Economists had expected it would remain unchanged at 8.2 percent.

Copyright 2012 ABC News Radio

Friday
Jul062012

80,000 Jobs Added in June; Unemployment Rate Unchanged at 8.2%

Stockbyte/Thinkstock(WASHINGTON) -- U.S. employers added 80,000 jobs last month, falling short of expectations, the Labor Department announced Friday morning.

Economists had expected to see around 90,000 positions added in June, higher than the 69,000 jobs added in May, but lower than what is needed for a full economic recovery from the last recession that began with the mortgage meltdown in 2008.

The unemployment rate, meanwhile, remained unchanged at 8.2 percent.

Before Friday's jobs report, there were two pieces of positive employment data this week.

Private payroll tracker ADP reported on Thursday that the U.S. added 176,000 private jobs in June -- more than expected -- following a revised 136,000 jobs added in May.

Also, the number of people seeking U.S. unemployment benefits dropped last week to the lowest level in six weeks, falling 14,000 to 374,000 seasonally adjusted.

Copyright 2012 ABC News Radio

Thursday
Jul052012

June Jobs Report Expected to Show Struggling Unemployment Picture

Tim Boyle/Getty Images(NEW YORK) -- The Labor Department's June jobs report -- the most closely-watched economic number leading up to the presidential election -- will be released on Friday and economists don't expect much summer sunshine in the nation's unemployment picture.

Economists expect that employers added around 90,000 jobs in June, higher than the 69,000 jobs added in May, but lower than what is needed for a full economic recovery from the last recession that began with the mortgage meltdown in 2008.

The Bureau of Labor Statistics will report both seasonally adjusted and non-seasonally adjusted unemployment figures, accounting for temporary summer jobs.

"There's a lot of uncertainty in June's number because of the end of the school year," Scott Brown, chief economist with Raymond James, said.  "Seasonal adjustment is pretty significant."

Prior to seasonal adjustment, the economy could see 450,000 jobs added, with the addition of students getting work and jobs related to the summer travel season.

"Those may be a bit lower than expected, so I think the risks are tilted toward the downside this go around," Brown said.

In addition to accounting for the number of added summer jobs, the bureau also must tote up the number of jobs lost for the summer.

Brown said before seasonal adjustment, the economy could see a 850,000 drop in public and private education jobs due to the end of the school year.

With a current unemployment rate of 8.2 percent and 12.7 million unemployed persons in the country, Brown said 125,000 to 130,000 added jobs are needed just to absorb the growth from the working-age population.  Economists expect the unemployment rate to hold steady at 8.2 percent for June.

"At this point we're still running in place, growing just enough to absorb growth in the population but not enough to recover those job market losses during the downturn," Brown said.

Brown expects that around 100,000 non-farm payroll jobs and 115,000 private payroll jobs, seasonally adjusted, were added in June.

Copyright 2012 ABC News Radio

Friday
Apr062012

March Unemployment Rate Falls to 8.2% as 120,000 Jobs Added

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 120,000 jobs to their payrolls in March, falling short of expectations, the Labor Department reported on Friday.  Economists had predicted the economy would add over 200,000 positions last month.

Excluding government layoffs and hiring, 121,000 workers were added.

In a positive sign for the jobs market, the unemployment rate fell one tenth of a percent in March to 8.2 percent.  That dip exceeded economists' expectations, who said the figure would remain at 8.3 percent where it had been for several months.

Investors will have to wait until Monday to see how the news fares in the stock markets.  Trading is closed on Friday in observation of Good Friday.

Copyright 2012 ABC News Radio

Wednesday
Mar072012

ADP Report: 216,000 Private Sector Jobs Added in February

Tim Boyle/Getty Images(NEW YORK) -- Private employers in the U.S. added 216,000 new jobs in February, marking the fifth straight month of strong employment gains, according to the latest national employment report released Wednesday by ADP.

The report found that employment in the service-providing sector grew by 170,000 jobs last month, while the goods-producing sector increased by 46,000 jobs.

ADP's survey is often a precursor to the government's monthly jobs report -- slated to be released Friday.

Meanwhile, the latest worker productivity report, released Wednesday by the U.S. Bureau of Labor Statistics, found a gain of nearly 1 percent in output per hour by American workers in the final quarter of 2011.

Copyright 2012 ABC News Radio

Friday
Jan062012

December Unemployment Rate Falls to 8.5% as 200K Jobs Added

Stockbyte/Thinkstock(WASHINGTON) -- American employers added 200,000 jobs to their payrolls in December, exceeding economists' expectations and bringing down the unemployment rate by one tenth of a percent, the Labor Department reported Friday morning.

The unemployment rate now stands at 8.5 percent.

Economists had expected a gain of about 150,000 jobs last month, but with a slightly higher unemployment rate due to job cutbacks in the government sector and more people are re-entering the work force.

Factoring out the government sector, the latest monthly jobs report shows private employers added 212,000 jobs in December. Time will tell how many of those new jobs were temporary seasonal hires for the holidays, however.

Copyright 2012 ABC News Radio

Friday
Jan062012

Stock Futures Flat as Wall Street Awaits December Jobs Report

Mario Tama/Getty Images(NEW YORK) -- Wall Street has been unable this week to pull out the strong numbers it did on Tuesday when it kicked off trading for the new year, but that could all change depending on the results of a key economic report coming out on Friday.

The Labor Department is set to release its jobs report for December at 8:30 a.m. ET -- just ahead of the opening bell.  Most economists expect the data to show an increase of about 150,000 jobs last month.  However, the unemployment rate is projected to rise from 8.6 percent to 8.7 percent.

As investors await the figures, U.S. stock futures are hovering near the flatline.

Elsewhere, European stocks are trading higher on Friday and Asian ones wrapped up the day mostly with losses.  Hong Kong’s Hang Seng sank 1.17 percent, Japan's Nikkei index dropped 1.16 percent, South Korea's Kospi lost 1.11 percent, Australia’s S&P/ASX 200 fell 0.83 percent, and Taiwan’s Taiex dipped 0.15 percent.

China's Shanghai Composite, on the other hand, rose 0.70 percent.

Copyright 2012 ABC News Radio

Friday
Dec022011

Wall Street Poised for Gains Ahead of Monthly Jobs Report

John Foxx/Thinkstock(NEW YORK) -- U.S. stock futures point to a higher opening for Wall Street on Friday, but that could all change pending the results of the latest jobs report due out before the opening bell rings.

Most economists predict the data will show that more than 100,000 jobs were created in November and the current unemployment rate of 9 percent will remain unchanged. The Labor Department will release its figures at 8:30 a.m.

Earlier this week it was revealed the number of people filing for unemployment climbed back over the 400,000 mark.

On Thursday, the U.S. stock market closed mixed, with the Dow Jones Industrial Average slipping 26 points, the Nasdaq rising six points, and the S&P 500 falling two points.

Overseas, European stocks are climbing on Friday, following a speech by German Chancellor Angela Merkel in which she called for changes to the European Union treaty that would better promote fiscal discipline.

Elsewhere, in Asia, stocks closed the day mostly up.  Australia’s S&P/ASX 200 gained 1.40 percent on Friday, Japan's Nikkei index rose 0.54 percent, and Hong Kong’s Hang Seng added 0.20 percent.  China's Shanghai Composite, on the other hand, dropped 1.10 percent, while South Korea’s Kospi closed flat after losing 0.01 percent.

Copyright 2011 ABC News Radio







ABC News Radio