October 2024_________________________
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 October 4, 2024.
-Current Job and Employment Data-
Jobs
Total Non-Farm Establishment Jobs up 254,000 to 159,105,000
Total Private Jobs up
223,000 to 135,684,000
Total Government Employment up 31,000 to 23,421,000 Note
Civilian Non-Institutional Population up 224,000 to 269,080,000
Civilian Labor Force up
150,000 to 168,699,000
Employed up 430,000
to 161,864,000
Employed Men up
521,000 to 85,596,000
Employed Women
down 91,000 to 76,268,000
Unemployed down
281,000 to 6,834,000
Not in the Labor Force up 75,000 to 100,381,000
Unemployment Rate
went down .1% to 4.1% or6,834 /168,699
Labor Force Participation Rate stayed the same at 62.7%, or 168,699/269,080
Prices and inflation measured by the Consumer Price Index (CPI) for all Urban Consumers was up by a monthly average of 4.1 percent for 2023.
The CPI September report for the 12 months ending with September shows the
CPI for All Items was up 2.5%
CPI for Food and Beverages was up 2.0%
CPI for Housing was up 4.4%
CPI for Apparel was up .3%
CPI for Transportation including gasoline was down 1.0%
CPI for Medical Care was up 3.0%
CPI for Recreation was up 1.6%
CPI for Education was up 3.1%
CPI for Communication was down .4%
This Month’s Establishment Jobs Press Report
The
seasonally adjusted total of establishment employment was up 254 thousand for September.
The increase was 202 thousand
more jobs in the private service sector combined with a(an) 21 thousand increase in jobs from
goods production. The total of 223
thousand jobs gained in the private sector combined with a(n) increase of 31
thousand government service jobs accounts for the total increase.
Goods
production had a net increase of 21 thousand jobs. Natural resources had 3
thousand new jobs; construction added 25 thousand. Specialty trade contractors
added 22.8 thousand of the construction jobs with residential jobs adding 5.8
thousand jobs and nonresidential having the remaining 17 thousand. Heavy and
engineering construction added 3.8 thousand offset with small job losses in
building construction accounting for the net total. Manufacturing employment
was down 7 thousand jobs after last month’s bigger loss. Both durable and
non-durable goods production were down: durable 3 thousand, nondurable 4
thousand. No sub sector did well in durable goods with motor vehicles and parts
down 6.5 thousand jobs. Among nondurable goods food processing had 2.4 thousand
jobs with small job losses in nearly everything else.
Government
service employment increased 31 thousand jobs. The federal government added 2
thousand jobs, state government added 13 thousand jobs while local government
jobs added 16 thousand jobs. Government jobs excluding education were up 10.6
thousand this month, which leaves 18.8 thousand new jobs in state and local
education. Private sector education was up 9.4 thousand seasonally adjusted
jobs, which brings the total of 28.2 thousand new jobs in education.
Leisure
and hospitality took first place for private service sector job gains this
month with 78 thousand new jobs, displacing health care for the second month in
a row. Arts, entertainment and recreation had a net of only 2 thousand new jobs
this month with amusements, gambling and recreation adding 2.4 thousand jobs
offset with other job losses. Restaurants had 69.4 thousand new jobs with 6.6
thousand more jobs in accommodations.
Health
care took second place for private service sector job gains with 72 thousand
new jobs, a recovery compared to last month. All four of the health care
subsectors had more jobs with ambulatory care adding 24.3 thousand jobs;
hospitals added 11.5 thousand jobs; nursing and residential care were up 9.4
thousand jobs. Social assistance services added 26.5 thousand new jobs, but
individual and family services had 21.2 thousand of the jobs; badly needed
child care added another 4.2 thousand more jobs. The growth rate for health
care was up from last month to 3.81 percent, above the average of 2.09 percent
per month of the last 15 years.
Professional
and business services had only 17 thousand new jobs, but better than last
month. The professional and technical services subsector added 12.3 thousand
jobs; management of companies added 6.4 thousand of the jobs after last month’s
job loss. Administrative and support services including waste management
subsector dropped by 2 thousand jobs.
Among
professional and technical services, computer systems design had 2.9 thousand
new jobs; scientific research and development also added 2.9 thousand jobs in a
slow month for professional service jobs. The management of company jobs added 6.4
thousand jobs. Among administrative support services temporary help services
that usually adds jobs was down by 13.8 thousand.
Trade,
transportation and utilities, the biggest sector of all, created only 13
thousand new jobs. Wholesale trade added 1.9 thousand new jobs; retail added 15.6
thousand jobs. Transportation lost 8.6 thousand jobs with warehousing and storage
down 11 thousand jobs. Transit and ground passenger service added 3.4 thousand
of the new jobs but most of modal
transportation lost jobs.
Information services added 4
thousand jobs after last month’s decline. Computing infrastructure, data
processing and web hosting had 6 thousand new jobs offset with other sub sector
job losses. Financial activities had a net gain of 5 thousand jobs with 5.7
thousand of the increase coming in finance and insurance, mostly insurance.
Jobs in real estate and leasing and rental services were down 1.5 thousand,
mostly because leasing and rental services were down 3.8 thousand jobs. The
category, other, added 4 thousand jobs with personal and laundry services up 2.1
thousand jobs, repair and maintenance adding 300 jobs and non-profit membership
associations adding another 1.8 thousand jobs.
The economy added 254 thousand jobs for September, continuing monthly increases and with more jobs added this month than last month. Establishment employment in September was 159.105 million with an annual growth rate of 1.92 percent. Health care returned to its more regular number of new jobs and restaurants added lots of new jobs, but these continue as the primary source of new jobs. These two sectors had 59 percent of this month’s new jobs. This month’s job total is 2.438 million above September a year ago and 5.423 million jobs above September two years ago.
September Details
Non Farm Total +254
The Bureau of Labor Statistics (BLS) reported Non-Farm employment for establishments increased from August by 254 thousand jobs for a(n) September total of 159.105 million. (Note 1 below) An increase of 254 thousand each month for the next 12 months represents an annual growth rate of +1.92% The annual growth rate from a year ago beginning September 2023 was +1.56%; the average annual growth rate from 5 years ago beginning September 2019 was +1.00%; from 15 years ago beginning September 2009 it was +1.34%. 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 increased 3 thousand from August with 639 thousand jobs in September. An increase of 3 thousand jobs each month for the next 12 months would be an annual growth rate of +5.66 percent. Natural resource jobs are down 6 thousand for the 12 months just ended. 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 +25
Construction jobs were up 25 thousand from August with 8.303 million jobs in September. An increase of 25 thousand jobs each month for the next 12 months would be an annual growth rate of +3.62 percent. Construction jobs are up 238 thousand for the 12 months just ended. The growth rate for the last 5 years is 1.98%. Construction jobs rank 9th among the 12 sectors with 5.2 percent of non-farm employment.
3. Manufacturing -7
Manufacturing jobs were down 7 thousand from August with 12.917 million jobs in September. A decrease of 7 thousand jobs each month for the next 12 months would be an annual growth rate of -.65 percent. Manufacturing jobs were down for the last 12 months by 37 thousand. The growth rate for the last 5 years is +.10%; for the last 15 years by +.72%. Manufacturing ranks 6th among 12 major sectors in the economy with 8.2 percent of establishment jobs.
4. Trade, Transportation & Utility +13
Trade, both wholesale and retail, transportation and utility employment were up 13 thousand jobs from August with 29.044 million jobs in September. An increase of 13 thousand jobs each month for the next 12 months would be an annual growth rate of +.54 percent. Jobs are up by 162 thousand for last 12 months. Growth rates for the last 5 years are +.94 percent. Jobs in these sectors rank first as the biggest sectors with combined employment of 18.3 percent of total establishment employment.
5. Information Services +4
Information Services jobs were up by 4 thousand from August with 2.996 million jobs in September. An increase of 4 thousand jobs each month for the next 12 months would be an annual growth rate of +1.60 percent. (Note 2 below) Jobs are down by 12 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 +5
Financial Activities jobs were up 5 thousand from August at 9.259 million in September. An increase of 5 thousand each month for the next 12 months would be an annual growth rate of +.65 percent. Jobs are up 35 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 +1.09 percent, and a 15 year growth rate of +1.18 percent. Financial activities rank 8th of 12 with 5.8 percent of establishment jobs.
7. Business and Professional Services +17
Business and Professional Service jobs went up 17 thousand from August to 22.989 million in September. An increase of 17 thousand each month for the next 12 months would be an annual growth rate of +.89 percent. Jobs are up 125 thousand for the last 12 months. Note 4 The annual growth rate for the last 5 years was +1.44 percent. It ranks as 2nd among the 12 sectors now. It was 2nd in 1993, when manufacturing was bigger and second rank now with 14.5 percent of establishment employment.
8. Education including public and private +28
Education jobs were up 28 thousand jobs from August at 14.678 million in September. An increase of 28 thousand jobs each month for the next 12 months would be an annual growth rate of +2.31 percent. These include public and private education. Jobs are up 255 thousand for the last 12 months. (note 5) The 15 year growth rate equals +.52 percent. Education ranks 5th among 12 sectors with 9.2 percent of establishment jobs
9. Health Care +72
Health care jobs were up 72 thousand from August to 22.660 million in September. An increase of 72 thousand each month for the next 12 months would be an annual growth rate of +3.81 percent. Jobs are up 926 thousand for the last 12 months. (note 6) The health care long term 15 year growth rate has been +2.09 percent lately compared to +3.81 percent for this month’s jobs. Health care ranks 3rd of 12 with 14.1 percent of establishment jobs.
10. Leisure and hospitality +78
Leisure and hospitality jobs were up 78 thousand from August to 17.075 million in September. (note 7) An increase of 78 thousand each month for the next 12 months would be an annual growth rate of +5.51 percent. Jobs are up 367 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 +4
Other Service jobs, which include repair, maintenance, personal services and non-profit organizations were up 4 thousand from August to 5.918 million in September. An increase of 4 thousand each month for the next 12 months would be an annual growth rate of +.81 percent. Jobs are up 63 thousand for the last 12 months. (Note 8) Other services had +.67 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 +13
Government service employment went up 13 thousand from August
at 12.627 million jobs in September. An increase of 13 thousand each month for
the next 12 months would be an annual growth rate of +1.20 percent. Jobs are up
320 thousand for the last 12 months. (note 9) Government jobs excluding education
tend to increase slowly with a 15 year growth rate of +.28 percent. Government,
excluding education, ranks 7th of 12 with 7.9 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. 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
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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. back
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