April 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. This month's inflation data is below.
The Establishment Job Report and Establishment Job Details for data released April 5, 2024. American Job Market The Chronicle
Current Job and Employment Data
Jobs
Total Non-Farm Establishment Jobs up 303,000 to 158,133,000
Total Private Jobs up
232,000 to 134,863,000
Total Government Employment up 71,000 to 23,270,000 Note
Civilian Non-Institutional Population up 173,000 to 267,884,000
Civilian Labor Force up
469,000 to 167,895,000
Employed up 498,000
to 161,466,000
Employed Men up
407,000 to 85,400,000
Employed Women
up 1,000 to 75,976,000
Unemployed down
29,000 to 6,429,000
Not in the Labor Force down 296,000 to 99,989,000
Unemployment Rate
went down .1% to 3.8% or 6,429/167,895
Labor Force Participation Rate went up .2% to 62.7%, or 167,895/267,884
Prices and inflation measured by the Consumer Price Index (CPI) for all Urban Consumers was up by a monthly average of 8.0 percent for 2022.
The CPI report for March the 12 months ending with February shows the
CPI for All Items was up 3.4%
CPI for Food and Beverages was up 2.7%
CPI for Housing was up 4.8%
CPI for Apparel was up 1.0%
CPI for Transportation including gasoline was up 2.9%
CPI for Medical Care was up .5%
CPI for Recreation was up 2.7%
CPI for Education was up 2.4%
CPI for Communication was down 1.7%
This Month’s Establishment Jobs Press Report
The seasonally adjusted total of establishment employment was up 303 thousand for March. The increase was 190 thousand more jobs in the private service sector combined with a(an) 42 thousand increase in jobs from goods production. The total of 232 thousand jobs gained in the private sector combined with a(n) increase of 71 thousand government service jobs accounts for the total increase.
Goods production had a net increase of 42 thousand jobs. Natural resources were up 3 thousand to 645 thousand; construction was up 39 thousand jobs with job increases in all sub sectors; specialty trade contractors added 25.2 thousand jobs, heavy and civil engineering construction and construction to buildings also added jobs. Manufacturing jobs for durable goods manufacturing were up 4 thousand but non-durable goods jobs, down 4 thousand for no change in manufacturing. Transportation equipment manufacturing was up 11.4 thousand jobs offset by other durable goods job losses. Nondurable goods did poorly with chemical manufacturing adding 4 thousand jobs offset with job losses in other sub sectors.
Government service employment increased 71 thousand jobs, more than the last two months. The federal government added 9 thousand jobs as it did last month, state government 13 thousand; local government 49 thousand new jobs. State and local jobs excluding education increased 33.9 thousand with 30.8 thousand of the jobs in local government. State government jobs in education were up 10.1 thousand while local government education jobs were up 17.9 thousand jobs. Education jobs in the private sector were up by 6.1 thousand jobs, which brings the education total to a gain of 34.1 thousand jobs.
Health care took first place for private service sector job gains again this month with 81 thousand new jobs, a little less than last month. All four of the health care subsectors had more jobs as has been true in recent months. Ambulatory care added 27.5 thousand jobs; hospitals added 27.1 thousand jobs; nursing and residential care added 17.7 thousand new jobs. Social assistance services had 9.0 thousand new jobs with individual and family services adding 9.2 thousand jobs offset by community service job losses. The growth rate for health care this month, down slightly from last month, came to 4.41 percent, well above the average of 2.03 percent per month of the last 15 years.
Professional and business services added 7 thousand jobs, another month for a small increases. The professional and technical services subsector added 8.5 thousand more jobs, less than last month. Management of companies dropped 4.7 thousand jobs offset with 3.7 thousand new jobs in administrative and support services including waste management.
Among professional and technical services, management, scientific and technical consulting services added another 5.1 thousand jobs; computing systems design and related services added a modest 4.1 thousand jobs. Legal services, architecture, engineering and related services and specialty design services all lost jobs. Among administrative and support services, services to buildings added 6.7 thousand jobs but no other administrative subsectors did well, and most lost jobs.
Leisure and hospitality had a net of 49 thousand more jobs, down from last month. Arts, entertainment and recreation added 17.5 thousand jobs and 9.6 thousand of those jobs in amusements, gambling and recreation. Accommodations and restaurants had a modest showing adding 31.5 thousand jobs, although 28.3 thousand at restaurants. Leisure and hospitality now have 16.905 million jobs, that leaves it only 10 thousand jobs less than its maximum employment which came in the pandemic month of February 2020.
Trade, transportation and utilities had an increase of 27 thousand jobs, a second month of job gains. Wholesale and retail trade added 26.1 thousand new jobs, and again mostly in department stores and warehouse clubs. Transportation jobs had a net of 1.2 thousand new jobs with 5.1 thousand in trucking offset with a loss of 5.5 thousand jobs in warehousing and storage.
Information services had no change in jobs but 4.5 thousand more publishing jobs offset by job losses in motion picture production and broadcasting. Financial Activities had a net gain of 3 thousand jobs with little change in the finance and insurance sub sectors combined with 4.7 thousand new jobs in real estate, the only finance sub sector to do well. The category, other, had a gain of 16 thousand jobs with all three subsectors adding jobs; personal and laundry services up 4.7 thousand jobs; repair and maintenance added 4.2 thousand jobs; and non-profit membership associations 7.8 thousand jobs.
The economy added 303 thousand jobs for March, continuing the monthly increases with a total establishment employment in March 2024 of 158.133 million and an annual growth rate of 2.3 percent, anything about 2 percent is good. The health care sector continues to be the major contributor to job growth. Over the last twelve months the economy has added 2.927 million jobs with 61 percent of those jobs in health care, education, and leisure-hospitality. This month’s job total is 2.927 million above March a year ago and 8.027 million jobs above March two years ago.
March Details
Non Farm Total +303
The Bureau of Labor Statistics (BLS) reported Non-Farm employment for establishments increased from February by 303 thousand jobs for a(n) March total of 158.133 million. (Note 1 below) An increase of 303 thousand each month for the next 12 months represents an annual growth rate of +2.30% The annual growth rate from a year ago beginning March 2023 was +1.89%; the average annual growth rate from 5 years ago beginning March 2019 was +1.02%; from 15 years ago beginning March 2009 it was +1.18%. 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 were up 3 thousand from February with 645 thousand jobs in March. An increase of 3 thousand jobs each month for the next 12 months would be an annual growth rate of 5.61 percent. Natural resource jobs are up 10 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 +39
Construction jobs were up 39 thousand from February with 8.211 million jobs in March. An increase of 39 thousand jobs each month for the next 12 months would be an annual growth rate of +5.73 percent. Construction jobs are up 270 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 +0
Manufacturing jobs stayed the same from February with 12.956 million jobs in March. A change of 0 thousand jobs each month for the next 12 months would be an annual growth rate of 0.0 percent. Manufacturing jobs were up for the last 12 months by 24 thousand. The growth rate for the last 5 years is +.20%; for the last 15 years by +.40%. Manufacturing ranks 6th among 12 major sectors in the economy with 8.2 percent of establishment jobs.
4. Trade, Transportation & Utility +27
Trade, both wholesale and retail, transportation and utility employment were up 27 thousand jobs from February with 28.947 million jobs in March. An increase of 27 thousand jobs each month for the next 12 months would be an annual growth rate of 1.12 percent. Jobs are up by 128 thousand for last 12 months. Growth rates for the last 5 years are +.44 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 +0
Information Services jobs stayed the same from February with 3.017 million jobs in March. An increase of 0 thousand in jobs each month for the next 12 months would be an annual growth rate of +0.0 percent. (Note 2 below) Jobs are down by 37 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 +3
Financial Activities jobs were up 3 thousand from February
at 9.226 million in March. An increase of 3 thousand each month for the next 12
months would be an annual growth rate of
+.39 percent. Jobs are up 76 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 +1.16 percent, and a 15 year growth rate of +1.02
percent. Financial activities rank 8th of 12 with 5.9 percent of establishment
jobs.
7. Business and Professional Services +7
Business and Professional Service jobs went up 7 thousand from February to 22.954 million in March. An increase of 7 thousand each month for the next 12 months would be an annual growth rate of +.37 percent. Jobs are up 157 thousand for the last 12 months. Note 4 The annual growth rate for the last 5 years was +1.63 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 +34
Education jobs went up 34 thousand jobs from February at 14.611 million in March. An increase of 34 thousand jobs each month for the next 12 months would be an annual growth rate of +2.81 percent. These include public and private education. Jobs are up 337 thousand for the last 12 months. (note 5) The 15 year growth rate equals +.51 percent. Education ranks 5th among 12 sectors with 9.2 percent of establishment jobs
9. Health Care +81
Health care jobs were up 81 thousand from February to 22.228 million in March. An increase of 81 thousand each month for the next 12 months would be an annual growth rate of +4.41 percent. Jobs are up 992 thousand for the last 12 months. (note 6) The health care long term 15 year growth rate has been +2.03 percent lately compared to +4.41 percent for this month’s jobs. Health care ranks 3rd of 12 with 14.0 percent of establishment jobs.
10. Leisure and hospitality +98
Leisure and hospitality jobs were up 58 thousand from February to 16.905 million in March. (note 7) An increase of 58 thousand each month for the next 12 months would be an annual growth rate of +3.49 percent. Jobs are up 458 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 +16
Other Service jobs, which include repair, maintenance, personal services and non-profit organizations went up 16 thousand from February to 5.901 million in March. An increase of 16 thousand each month for the next 12 months would be an annual growth rate of 3.26 percent. Jobs are up 106 thousand for the last 12 months. (note 8) Other services had +.61 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 +43
Government service employment went up 43 thousand from February at 12.531 million jobs in March. An increase of 43 thousand each month for the next 12 months would be an annual growth rate of +4.12 percent. Jobs are up 406 thousand for the last 12 months. (note 9) Government jobs excluding education tend to increase slowly with a 15 year growth rate of +.23 percent. Government, excluding education, ranks 7th of 12 with 7.9 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
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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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