January 2025_________________________
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 and this month's inflation data is below that.
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The Establishment Job Report with data released January 10, 2025.
Current Job and Employment Data
Jobs
Total Non-Farm Establishment Jobs up 256,000 to 159,536,000
Total Private Jobs up
223,000 to 136,020,000
Total Government Employment up 33,000 to 23,516,000 Note
Civilian Non-Institutional Population up 175,000 to 269,638,000
Civilian Labor Force up
261,000 to 168,547,000
Employed up 520,000
to 161,661,000
Employed Men up
336,000 to 85,620,000
Employed Women
up 185,000 to 76,041,000
Unemployed down
259,000 to 6,886,000
Not in the Labor Force down
86,000 to 101,091,000
Unemployment Rate
went down .1% to 4.1% or 6,886/168,547
Labor Force Participation Rate stayed the same at 62.5%, or 168,547/269,638
Prices and inflation measured by the Consumer Price Index
(CPI) for all Urban Consumers was up by a monthly average of 2.9 percent for 2024.
The CPI January report for the 12 months ending with December
shows the
CPI for All Items was up 2.9%
CPI for Food and Beverages was up 2.4%
CPI for Housing was up 4.1%
CPI for Apparel was up 1.2%
CPI for Transportation including gasoline was up 1.6%
CPI for Medical Care was up 2.8%
CPI for Recreation was up 1.1%
CPI for Education was up 4.10
CPI for Communication was down 1.8%
This Month’s Establishment Jobs Press Report
A
GOOD MONTH
The Bureau of Labor Statistics
published its January report for jobs in December. The employed jumped 520
thousand from a combination of a decline of 259 thousand unemployed, 86
thousand entering the labor force and finding employment, and from monthly
population growth of a 175 thousand finding jobs. (259+86+175 = 520) The larger
employment and lower unemployment brought a lower unemployment rate, down .1
percent to 4.1 percent. Employment increased for both men and women. The labor
force participation rate held at 62.5 percent.
The seasonally adjusted total of
establishment employment was up 256 thousand for December. The increase was 231 thousand more jobs in the private
service sector combined with a(an) 8 thousand decrease in jobs from goods production. The total of 223 thousand jobs gained in the
private sector combined with a(n) increase of 33 thousand government service
jobs accounts for the total increase.
Goods production had a net decrease
of 8 thousand jobs. Natural resources had a loss of 3 thousand jobs; construction
added 8 thousand jobs with gains in all sub sectors. Specialty trade
contractors added 4.4 thousand of the construction jobs with the residential specialty
contractors adding only .5 thousand jobs combined with nonresidential specialty
trade contractors adding 3.9 thousand jobs. There was a small increase in heavy and
engineering construction combined with small job gains in construction of
buildings.
Manufacturing employment was down
13 thousand jobs. Durable goods were down 16 thousand jobs while non-durable
goods production added 3 thousand jobs. Computer and electronic manufacturing
had the biggest job losses among durable goods, off 6.2 thousand jobs, but even
car and truck manufacturing was down 4.1 thousand jobs. Non-durable goods did
better but only slightly with beverage, tobacco and leather good production
adding 4.9 thousand jobs among other small non-durable subsector job losses.
Government service employment
increased 33 thousand jobs. Federal government employment was up 6 thousand
jobs while state government added 10 thousand jobs and local government added 17
thousand more. Government jobs excluding education increased by 15.5 thousand. Government
jobs in education were up 10.5 thousand this month, which was 3.9 thousand new
jobs in state education and 6.9 thousand new jobs in local education. Private
sector education was up 11.1 thousand seasonally adjusted jobs, which brings
the total of 21.9 thousand new jobs in education, a little less than last month.
Health care took first place for
private service sector job gains with 70 thousand new jobs, down slightly from
last month. All four of the health care subsectors had more jobs with
ambulatory care adding 20.6 thousand jobs; hospitals added 11.5 thousand jobs,
a good for hospitals; nursing and residential care were up 14 thousand jobs.
Social assistance services added 23.4 thousand jobs, but with 17.0 thousand new
jobs coming in individual and family services. The growth rate for health care was
down from last month to 3.65 percent, above the average of 2.13 percent per
month of the last 15 years.
Trade, transportation and
utilities, the biggest sector of all, had 49 thousand new jobs after last month’s
decline. While wholesale trade jobs were down slightly retail trade jumped 43.4
thousand jobs. Clothing, clothing accessories, shoe and jewelry stores added
22.6 thousand of the jobs, no doubt a result of Christmas spending. Transportation
added a net 9.6 thousand jobs with airline transportation adding 2.5 thousand jobs
among other small changes in modal transportation jobs. Warehousing and storage
and couriers and messengers were up 4.5 thousand jobs. Utility employment was
off slightly.
Leisure and hospitality added 43
thousand jobs, down slightly from last month. Arts, entertainment and
recreation added 6.6 thousand jobs with amusements, gambling and recreation up 5.2
thousand of the jobs. Accommodations added 6.0 thousand jobs; restaurants 29.8
thousand more, a moderate total for restaurants. Both nearly the same as last
month.
Professional and business services gained
28 thousand jobs, a little better than last month. The professional and
technical services subsector of it added 9.4 thousand jobs; management of
companies added 10 thousand jobs, an unusually large job gain. The third sub
sector, administrative and support services including waste management, also added
9.4 thousand jobs. Among professional and technical services, architecture and
engineering services added 7.4 thousand jobs; management consulting added 5.1
thousand jobs. Computer design and related services lost 2.4 thousand jobs last
month, a rare decline. There were small changes for remaining sub sectors, much
like last month.
Among administrative support
services, employment services added 6.5 thousand jobs about the same as last
month; services to buildings added another 5.7 thousand jobs, but business
support services were down 7.2 thousand jobs among small changes in other
administrative support sub sectors.
Information
services had 10 thousand new jobs, an unusually large increase. Motion picture
and sounding recording had all the jobs and then some adding 10.8 thousand jobs
offset by losses in the broadcasting, the telecommunications industry and other
smaller information sub sectors. Financial activities added 13 thousand jobs where
finance and insurance added 9.2 thousand jobs and another 4.8 thousand jobs in
rental and leasing services offset by a decline in real estate, off 1.7
thousand jobs. The category, other, added 8 thousand jobs. Personal and laundry
services had 7.4 thousand of the jobs. Repair and maintenance had a small
decline while non-profit membership associations added 1.6 thousand jobs, the same
as last month.
The
economy added 256 thousand jobs for December, a good but still modest increase.
Establishment employment in December was 159.536 million with an annual growth
rate of 1.93 percent, higher than population growth. Health care continued its
dominant place in job growth with 27 percent of new jobs; government job growth
continued this month and government jobs continue to be an important source of
employment. This month’s job total is 2.232 million above December a year ago
and 5.001 million jobs above December two years ago.
December Details
Non Farm Total +256
The Bureau of Labor Statistics (BLS) reported Non-Farm
employment for establishments increased from November by 256 thousand jobs for
a(n) December total of 159.536 million. (Note 1 below) An increase of 256 thousand
each month for the next 12 months represents an annual growth rate of +1.93%
The annual growth rate from a year ago beginning December 2023 was +1.42%; the
average annual growth rate from 5 years ago beginning December 2019 was +.97%;
from 15 years ago beginning December 2009 it was +1.38%. 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 -3
Natural Resources jobs including logging and mining decreased
3 thousand from November with 634 thousand jobs in December. A decrease of 3
thousand jobs each month for the next 12 months would be an annual growth rate of
-5.65 percent. Natural resource
jobs were down 9 thousand from a year ago. Jobs in 2000 averaged around 600
thousand with little prospect for growth.
This is the smallest of 12 major sectors of the economy with .4 percent
of establishment jobs.
2. Construction +8
Construction jobs were up 8 thousand from November with 8.316
million jobs in December. An increase of 8 thousand jobs each month for the
next 12 months would be an annual growth rate of +1.16 percent. Construction
jobs are up 196 thousand for the 12 months just ended. The growth rate for the
last 5 years is 1.94%. Construction jobs rank 9th among the 12 sectors with 5.2
percent of non-farm employment.
3. Manufacturing -13
Manufacturing jobs were down 13 thousand from November with 12.873
million jobs in December. A decrease of 13 thousand jobs each month for the
next 12 months would be an annual growth rate of -1.21 percent.
Manufacturing jobs were down for the last 12 months by 87 thousand. The growth
rate for the last 5 years is +.01%; for the last 15 years by +.77%. Manufacturing
ranks 6th among 12 major sectors in the economy with 8.1 percent of
establishment jobs.
4. Trade, Transportation & Utility +49
Trade, both wholesale and retail, transportation and utility
employment were up 49 thousand jobs from November with 29.091 million jobs in December.
An increase of 49 thousand jobs each month for the next 12 months would be an
annual growth rate of +2.02 percent. Jobs are up by 224 thousand for last 12
months. Growth rates for the last 5 years are +.91 percent. Jobs in these
sectors rank first as the biggest sectors with combined employment of 18.2
percent of total establishment employment.
5. Information Services +10
Information Services jobs were up 10 thousand from November with
3.004 million jobs in December. An increase
of 10 thousand each month for the next 12 months would be an annual growth rate
of +4.01 percent. (Note 2 below) Jobs are down by 8 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 and has slowly come back
to 3.0 million in the last decade. Information Services is a small sector
ranking 11th of 12 with 1.9 percent of establishment jobs.
6. Financial Activities +13
Financial Activities jobs were up by 13 thousand jobs from November
to 9.286 million in December. An increase of 13 thousand jobs for the next 12
months would be an annual growth rate of +1.68 percent. Jobs are up 53 thousand
for the last 12 months. (Note 3 below) This sector also includes
real estate as well as real estate lending. The long term growth rates are now
at a 5 year growth rate of +1.02 percent, and a 15 year growth rate of +1.22
percent. Financial activities rank 8th of 12 with 5.8 percent of establishment
jobs.
7. Business and Professional Services +28
Business and Professional Service jobs went up 28 thousand
from November to 22.978 million in December. An increase of 28 thousand each
month for the next 12 months would be an annual growth rate of +1.46 percent.
Jobs are up 96 thousand for the last 12 months. Note 4 The annual growth rate for the last 5
years was +1.34 percent. It ranks as 2nd among the 12 sectors now. It was 2nd
in 1993, when manufacturing was bigger and second rank now with 14.4 percent of
establishment employment.
8. Education including public and private +22
Education jobs were up 22 thousand jobs from November at 14.723
million in December. An increase of 22 thousand jobs each month for the next 12
months would be an annual growth rate of +1.79 percent. These include public
and private education. Jobs are up 205 thousand for the last 12 months. (note 5) The 15 year growth rate equals +.56
percent. Education ranks 5th among 12 sectors with 9.1 percent of establishment
jobs
9. Health Care +70
Health care jobs were up 70 thousand from November to 22.890
million in December. An increase of 70 thousand each month for the next 12
months would be an annual growth rate of +3.65 percent. Jobs are up 902
thousand for the last 12 months. (note 6) The health care long term 15 year
growth rate has been +2.13 percent lately compared to +3.65 percent for this
month’s jobs. Health care ranks 3rd of 12 with 14.3 percent of establishment
jobs.
10. Leisure and hospitality +43
Leisure and hospitality jobs were up 43 thousand from November
to 17.101 million in December. (note 7) An increase of 43 thousand each
month for the next 12 months would be an annual growth rate of +3.02 percent. Jobs
are up 285 thousand for the last 12 months. 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 10.7 percent of establishment jobs. It moved up to 7th from 4th in the
pandemic decline.
11. Other +8
Other Service jobs, which include repair, maintenance,
personal services and non-profit organizations were up 8 thousand from November
to 5.935 million in December. An increase of 8 thousand each month for the next
12 months would be an annual growth rate of +1.62 percent. Jobs are up 71
thousand for the last 12 months. (Note 8) Other services had +.73 percent
growth for the last 15 years. These sectors rank 10th of 12 with 3.7 percent of
total non-farm establishment jobs.
12. Government, excluding education +22
Government service employment went up 22 thousand from November
at 12.704 million jobs in December. An increase of 22 thousand each month for
the next 12 months would be an annual growth rate of +2.03 percent. Jobs are up
305 thousand for the last 12 months. (note 9) Government jobs excluding education
tend to increase slowly with a 15 year growth rate of +.35 percent. Government,
excluding education, ranks 7th of 12 with 8.0 percent of total non-farm
establishment jobs.
Sector Notes__________________________
(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.
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(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.
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(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.
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(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.
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(5)
Education includes private and public education. Therefore education job totals include public schools and colleges as well as private schools and colleges.
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(6)
Health care includes ambulatory care, private hospitals, nursing and residential care, and social services including child care.
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(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.
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(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.
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(9)
Government job totals include federal, state, and local government administrative work but without education jobs.
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Notes
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.
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