January Job Growth Down Over Previous Month

The Economic Situation report released by the Bureau of Labor Statistics earlier this month revealed a net growth of 257,000 jobs in January, a decrease of 72,000 jobs over December’s monthly employment growth.

January’s job growth marks a 21.8% decrease from December’s revised employment number of 329,000 new jobs, and a 39% decrease from November’s 423,000 jobs. The unemployment rate and the number of unemployed persons were both little changed at 5.7 percent and 9.0 million for the month of January, respectively. The unemployment rate has shown no net growth since October 2014.

In January, job gains occurred in retail trade, construction, health care, financial activities, and manufacturing. Retail trade rose by 46,000 jobs with three industries accounting for half of the jobs added: sporting goods, hobby, book, and music stores grew by 9,000 jobs motor vehicle and parts dealers grew by 8,000 jobs, and nonstore retailers grew by 6,000 jobs.

The construction industry increased by 39,000 jobs last month, with gains in residential building (13,000), nonresidential building (7,000) and speciality trade contractors (13,000). Over the last year, the construction industry has added an average of 28,000 jobs a month. 

The healthcare industry grew by 38,000 jobs, averaging 26,000 jobs per month over the last 12 months. In January, increases occurred within the offices of physicians (13,000), hospitals (10,000), and nursing and residential care facilities (7,000).

Food services and drinking places increased by 35,000 jobs, professional and technical services added 33,000 jobs, financial activities rose by 26,000, and manufacturing employment increased by 22,000 jobs. 

Revised employment numbers for both November and December employment gains for both months combined were 147,000 higher than previously reported. The Bureau of Labor Statistics reports the revisions are a result additional reports received from businesses since the last published estimates, the monthly recalculation of seasonal factors, and the annual benchmark process.

About JobsWeb.com:

JobsWeb.com is the leading employment website for professionals in every industry, including advertising, construction, government and real estate. JobsWeb.com is updated daily with thousands of employment listings. Users can create a profile, upload their resume, apply to positions and engage in our social communities. Employers can post job listings opportunities and browse a resume bank for applicants. Thousands of new jobs are listed each month by geographic location and specialty, including: accounting jobs, banking, creative design, engineering, human resources, manufacturing and project management.

Category: Employment News

Comments are closed.