Labor line has job news and commentary with a one stop short cut for America’s job markets and job related data including the latest data from the Bureau of Labor Statistics.
This month's job and employment summary data are below. This month's inflation data is below.
The Establishment Job Report and Establishment Job Details for data released March 9, 2018.
American Job Market The Chronicle
Current Job and Employment Data
Total Non-Farm Establishment Jobs up 313,000 to 148,177,000
Total Private Jobs up 287,000 to 125,819,000
Total Government Employment up 26,000 to 22,358,000
Civilian Non-Institutional Population up 154,000 to 256,934,000
Civilian Labor Force up 806,000 to 161,921,000
Employed up 785,000 to 155,215,000
Employed Men up 411,000 to 82,685,000
Employed Women up 373,000 to 72,530,000
Unemployed up 22,000 to 6,706,000
Not in the Labor Force down 653,000 to 95,012,000
Unemployment Rate stayed the same at 4.1% or 6,706/161,921
Labor Force Participation Rate increased .3 percent to 63.0%, or 161,921/256,934
Prices and inflation measured by the Consumer Price Index (CPI) for all Urban Consumers was up by a monthly average of 2.13 percent for 2017.
The March CPI report for the 12 months ending with February, shows the
CPI for All Items was up 2.2%
CPI for Food and Beverages was up 1.4%
CPI for Housing was up 2.9%
CPI for Apparel was up .4%
CPI for Transportation including gasoline was up 4.1%
CPI for Medical Care was up 1.8%
CPI for Recreation was up .6%
CPI for Education was up 2.0%
CPI for Communication was down 5.0%
This Month’s Establishment Jobs Press Report
A GOOD MONTH
The Bureau of Labor Statistics published its March report for jobs in February. The labor force jumped 806 thousand because 653 thousand entered the labor force looking for work along with normal population growth; 785 thousand found jobs, 22 thousand added to the unemployed that now stands at 6,706,000. The increase in the employed raised the denominator enough to offset the increase in the unemployed to keep the unemployment rate steady at 4.1 per cent. The big increase in the labor force raised the overall labor force participation rate .3 percent to 63 percent.
The seasonally adjusted total of establishment employment was up 313 thousand for February. The increase was 187 thousand more jobs in the private service sector combined with a 100 thousand increase in jobs from goods production. The total of 287 thousand more private sector jobs combined with an increase of 26 thousand government service jobs accounts for the total increase.
The goods production sub sectors had another excellent month with more jobs in all three sub sectors for February. Natural resources had a net of 8 thousand more jobs, most from gains in support activities in mining. Construction added 61 thousand jobs with 37.6 thousand more jobs in specialty trade contracting; construction of buildings added 15.7 thousand jobs; heavy and engineering construction added 7.5 thousand jobs.
Manufacturing had 31 thousand more jobs for February, a good month and better than last month. All the gains came in durable goods jobs with 32 thousand new jobs set against a loss of 1 thousand non-durable goods jobs. Primary metals, fabricated metal products and machinery manufacturing topped all manufacturing categories with 15.2 thousand new jobs.
Government service employment was up a net 26 thousand seasonally adjusted jobs for February. The federal government dropped 7 thousand jobs mostly from a decline in jobs in the postal service. State government added 2 thousand jobs and local government employment jumped by 31 thousand mostly because of a seasonally adjusted increase of 26.9 thousand jobs in public education. State government added another 1.6 thousand education jobs for a combined public education increase of 28.5 thousand jobs. Private education dropped 5.8 thousand jobs, making a net increase of 22.7 thousand jobs in education for February, still a good month.
Trade, transportation and utilities took first place for job gains in February with 72 thousand new jobs; 50.3 thousand of them in retail; wholesale trade added 5.8 thousand more. Transportation added 15.4 thousand new jobs with the biggest gain in truck transportation up 5.6 thousand jobs. Utilities added 1.2 thousand jobs after last month’s losses.
Professional and business services had 50 thousand more jobs, up from last month’s small increase. The professional and technical service sub sector added 18.9 thousand of the new jobs; architecture and engineering services added 5.6 thousand of those jobs; computer design and related services added another 3.1 thousand new jobs, smaller than usual; management and technical consulting dropped 1.8 thousand jobs, an unusual decrease.
Management of companies added 2.3 thousand jobs. Administration and support services including waste management had 28.4 thousand new jobs, but temporary help services had 26.5 thousand of them. Investigation and security services and services to buildings added a ew more jobs to offset small losses in other business support services.
Health care had 29 thousand more jobs with modest job gains in all four sub-sectors. Ambulatory care had 8.1 thousand new jobs; hospital jobs another 9.3 thousand; social assistance 10.6 thousand new jobs; nursing and residential care came out slightly up with 1.1 thousand more jobs. The February growth rate in health care employment was 1.77 percent, well below the long term average of 2.31 percent.
Leisure and hospitality had an off month with just 16 thousand new jobs. Restaurants accounted for 11.5 thousand of the leisure and hospitality jobs. The arts, entertainment and recreation sub sector added a net of 3.9 thousand jobs mostly from 3.4 thousand more jobs in performing arts and spectator sports.
Information services had a bigger than normal decrease in jobs, down 12 thousand jobs for February. Data processing and hosting services had 2.3 thousand new jobs but remaining sub sectors had job losses. The biggest loss came in motion picture and sound recording, down 9.7 thousand jobs.
Financial activities added a net of 28 thousand jobs, an unusually large increase. Finance and insurance lead the way with 20.4 thousand jobs; real estate and rental and leasing services picked up another 7.2 thousand. In finance credit intermediation added 7.6 thousand jobs; insurance carriers added 7.5 thousand jobs. The category, other services had 10 thousand new jobs. Non-profit associations picked up the most jobs in this sub sector; 5.9 thousand jobs, more than last month. Personal and laundry services added 4.7 thousand jobs; repair and maintenance services had another small job loss for February.
Establishment employment was up 313 thousand in February to 148.177 million jobs, a bigger gain than last month where a gain over 300 thousand should be considered a good to very good gain. The annual growth rate inched up to 2.54 percent. The goods production sector did well this month, but 100 thousand new jobs a month cannot be considered sustainable. Health care and leisure and hospitality needs to do better to sustain job growth. Notice the big manufacturing gains came in steel and aluminum products, which came before the announcement of new tariffs.
Non Farm Total +313
The Bureau of Labor Statistics (BLS) reported Non-Farm employment for establishments increased from December by 313 thousand jobs for a(n) February total of 148.177 million. (Note 1 below) An increase of 313 thousand each month for the next 12 months represents an annual growth rate of +2.54%. The annual growth rate from a year ago beginning February 2017 was +1.56%; the average annual growth rate from 5 years ago beginning February 2013 was +1.79%; from 15 years ago beginning February 2003 it was .85%. America needs growth around 1.5 percent a year to keep itself employed.
Sector breakdown for 12 Sectors in 000’s of jobs
1. Natural Resources +8
Natural Resources jobs including logging and mining were up 8 thousand from January at 713 thousand jobs in February. An increase of 8 thousand jobs each month for the next 12 months would be an annual growth rate of +13.62 percent. Natural resource jobs are up 58 thousand for the 12 months just ended. Jobs in the 1990’s totaled around 770 thousand. Job growth here will be small compared to America’s job needs. This is the smallest of 12 major sectors of the economy with .5 percent of establishment jobs.
2. Construction +61
Construction jobs were up 61 thousand from January with 7.173 million jobs in February. An increase of 61 thousand jobs each month for the next 12 months would be an annual growth rate of +10.29 percent. Construction jobs are up 254 thousand for the 12 months just ended. The growth rate for the last 5 years is +4.37%. Construction jobs rank 9th among the 12 sectors with 4.8 percent of non-farm employment.
3. Manufacturing +31
Manufacturing jobs were up 31 thousand from January with 12.614 million jobs in February. An increase of 31 thousand jobs each month for the next 12 months would be an annual growth rate of +2.96 percent. Manufacturing jobs were up for the last 12 months by 224 thousand. The growth rate for the last 5 years is +1.0%; for the last 15 years by -1.05%. In 1994, manufacturing ranked 2nd but now ranks 6th among 12 major sectors in the economy with 8.5 percent of establishment jobs.
4. Trade, Transportation & Utility +72
Trade, both wholesale and retail, transportation and utility employment was up 72 thousand from January at 27.699 million jobs in February. An increase of 72 thousand each month for the next 12 months would be an annual growth rate of +3.13 percent. Jobs are up by 251 thousand for the last 12 months. Growth rates for the last 5 years are +1.52 percent. Jobs in these sectors rank first as the biggest sectors with combined employment of 18.7 percent of total establishment employment.
5. Information Services -12
Information Services employment was down 12 thousand from January at 2.748 million jobs in February. A decrease of 12 thousand each month for the next 12 months would be an annual growth rate of -5.22 percent. (Note 2 below) Jobs are down by 62 thousand for the last 12 months. Information jobs reached 3.7 million at the end of 2000, but started dropping, reaching 3 million by 2004, but now holds in the 2.7 million range. Information Services is a small sector ranking 11th of 12 with 1.9 percent of establishment jobs.
6. Financial Activities +28
Financial Activities jobs were up 28 thousand from January at 8.547 million in February. An increase of 28 thousand each month for the next 12 months would be an annual growth rate of + 3.94 percent. Jobs are up 143 thousand for the last 12 months. (Note 3 below)This sector also includes real estate as well as real estate lending. Financial Services has been growing slowly with many months of negative growth. The long term growth rates are now at a 5 year growth rate of +1.71 percent, and a 15 year growth rate of +.41 percent. Financial activities rank 8 of 12 with 5.8 percent of establishment jobs.
7. Business & Professional Services +50
Business and Professional Service jobs went up 50 thousand from January to 20.760 million in February. An increase of 50 thousand each month for the next 12 months would be an annual growth rate of +2.90 percent. Jobs are up 495 thousand for the last 12 months. Note 4 The annual growth rate for the last 5 years was 2.56 percent. It ranks as 2nd among the 12 sectors now. It was third in May 1993, when manufacturing was bigger and second rank now with 14.0 percent of establishment employment.
8. Education including public and private +23
Education jobs went up 23 thousand jobs from January at 14.139 million in February. These include public and private education. An increase of 23 thousand jobs each month for the next 12 months would be an annual growth rate of+1.93 percent. Jobs are up 115 thousand for the last 12 months. (note 5) The 15 year growth rate equals +.75 percent, slower than the national average. Education ranks 4th among 12 sectors with 9.5 percent of establishment jobs.
9. Health Care +29
Health care jobs were up 29 thousand from January to 19.745 million in February. An increase of 29 thousand each month for the next 12 months would be an annual growth rate of +1.77 percent. Jobs are up 377 thousand for the last 12 months. (note 6) The current month was below long term trends and less than growth from a year ago when the annual growth rate was +1.95 percent. Health care has been growing at +2.31 percent annual rate for the last 15 years, a rate greater than the national rate. Health care ranks 3rd of 12 with 13.3 percent of establishment jobs.
10. Leisure and hospitality +16
Leisure and hospitality jobs went up 16 thousand from January to 16.262 million in February. An increase of 16 thousand each month for the next 12 months would be an annual growth rate of +1.18 percent. Jobs are up 325 thousand for the last 12 months. (note 7) The 5 year growth rate is 2.92%. More than 80 percent of leisure and hospitality are accommodations and restaurants assuring that most of the new jobs are in restaurants. Leisure and hospitality ranks 4th of 12 with 11.0 percent of establishment jobs. It moved up from 7th in the 1990’s to 5th in the last few years.
11. Other +10
Other Service jobs, which include repair, maintenance, personal services and non-profit organizations went up 10 thousand from January to 5.837 million jobs in February. An increase of 10 thousand each month for the next 12 months would be an annual growth rate of +2.06 percent. Jobs are up 95 thousand for the last 12 months. (note 8) Other services had +.51 percent growth for the last 15 years. These sectors rank 10th of 12 with 3.9 percent of total non-farm establishment jobs.
12. Government, excluding education -2
Government service employment was down 2 thousand from January to 11.941 million jobs in February. A decrease of 2 thousand each month for the next 12 months would be an annual growth rate of -.17 percent. Jobs are up 7 thousand for the last 12 months. (note 9) Government jobs excluding education tend to increase slowly but surely with a 15 year growth rate of +.16 percent. Government, excluding education, ranks 7th of 12 with 8.1 percent of total non-farm establishment jobs.
(1) The total cited above is non-farm establishment employment that counts jobs and not people. If one person has two jobs then two jobs are counted. It excludes agricultural employment and the self employed. Out of a total of people employed agricultural employment typically has about 1.5 percent, the self employed about 6.8 percent, the rest make up wage and salary employment. Jobs and people employed are close to the same, but not identical numbers because jobs are not the same as people employed: some hold two jobs. Remember all these totals are jobs. back
(2) Information Services is part of the new North American Industry Classification System(NAICS). It includes firms or establishments in publishing, motion picture & sound recording, broadcasting, Internet publishing and broadcasting, telecommunications, ISPs, web search portals, data processing, libraries, archives and a few others.back
(3) Financial Activities includes deposit and non-deposit credit firms, most of which are still known as banks, savings and loan and credit unions, but also real estate firms and general and commercial rental and leasing.back
(4) Business and Professional services includes the professional areas such as legal services, architecture, engineering, computing, advertising and supporting services including office services, facilities support, services to buildings, security services, employment agencies and so on.back
(5) Education includes private and public education. Therefore education job totals include public schools and colleges as well as private schools and colleges. back
(6) Health care includes ambulatory care, private hospitals, nursing and residential care, and social services including child care. back
(7) Leisure and hospitality has establishment with arts, entertainment and recreation which has performing arts, spectator sports, gambling, fitness centers and others, which are the leisure part. The hospitality part has accommodations, motels, hotels, RV parks, and full service and fast food restaurants. back
(8) Other is a smorgasbord of repair and maintenance services, especially car repair, personal services and non-profit services of organizations like foundations, social advocacy and civic groups, and business, professional, labor unions, political groups and political parties. back
(9) Government job totals include federal, state, and local government administrative work but without education jobs. back
Jobs are not the same as employment because jobs are counted once but one person could have two jobs adding one to employment but two to jobs. Also the employment numbers include agricultural workers, the self employed, unpaid family workers, household workers and those on unpaid leave. Jobs are establishment jobs and non-other. back