HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Payroll employment increa...

Fri Jan 4, 2019, 09:31 AM

Payroll employment increases by 312,000 in December; unemployment rate rises to 3.9% [View all]

Source: U.S. Bureau of Labor Statistics

Economic News Release USDL-19-0002

Employment Situation Summary
Transmission of material in this news release is embargoed until 8:30 a.m. (EST) Friday, January 4, 2019

Technical information:
Household data: (202) 691-6378 * [email protected] * www.bls.gov/cps
Establishment data: (202) 691-6555 * [email protected] * www.bls.gov/ces

Media contact: (202) 691-5902 * [email protected]


THE EMPLOYMENT SITUATION -- DECEMBER 2018

Total nonfarm payroll employment increased by 312,000 in December, and the unemployment rate rose to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, food services and drinking places, construction, manufacturing, and retail trade.

Household Survey Data

The unemployment rate rose by 0.2 percentage point to 3.9 percent in December, and the number of unemployed persons increased by 276,000 to 6.3 million. A year earlier, the jobless rate was 4.1 percent, and the number of unemployed persons was 6.6 million. (See table A-1.)
....

Establishment Survey Data

Total nonfarm payroll employment increased by 312,000 in December. Job gains occurred in health care, food services and drinking places, construction, manufacturing, and retail trade. Payroll employment rose by 2.6 million in 2018, compared with a gain of 2.2 million in 2017. (See table B-1.)
....

Construction employment rose by 38,000 in December, with job gains in heavy and civil engineering construction (+16,000) and nonresidential specialty trade construction (+16,000). The construction industry added 280,000 jobs in 2018, compared with an increase of 250,000 in 2017.

Manufacturing added 32,000 jobs in December. Most of the gain occurred in the durable goods component (+19,000), with job growth in fabricated metal products (+7,000) and in computer and electronic products (+4,000). Employment in the nondurable goods component also increased over the month (+13,000). Manufacturing employment increased by 284,000 over the year, with about three-fourths of the gain in durable goods industries. Manufacturing had added 207,000 jobs in 2017.
....

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.5 hours in December. In manufacturing, both the workweek and overtime increased by 0.1 hour to 40.9 hours and 3.6 hours, respectively. The average workweek for production and nonsupervisory employees on private nonfarm payrolls held at 33.7 hours. (See tables B-2 and B-7.)

In December, average hourly earnings for all employees on private nonfarm payrolls rose 11 cents to $27.48. Over the year, average hourly earnings have increased by 84 cents, or 3.2 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 9 cents to $23.05 in December. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for November was revised up from +155,000 to +176,000, and the change for October was revised up from +237,000 to +274,000. With these revisions, employment gains in October and November combined were 58,000 more than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) After revisions, job gains have averaged 254,000 per month over the last 3 months.

_____________
The Employment Situation for January is scheduled to be released on Friday, February 1, 2019, at 8:30 a.m. (EST).

Read more: https://www.bls.gov/news.release/empsit.nr0.htm



That's way more than expected. Per TWSJ., "Economists expect employers added 176,000 workers to payrolls in December,..."

* * * * *

[center]Facilities for Sensory Impaired[/center]

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

* * * * *

Investors Await Jobs Report for Insight Amid Shutdown

https://www.wsj.com/livecoverage/december-2018-jobs-report-analysis

With the flow of data from other agencies suspended, the labor-market snapshot could provide key insights into the real economy at a time of market volatility.

LIVE
December Jobs Report: Everything You Need to Know

Last Updated Jan 4, 2019 at 8:16 am ET

Economists expect that employers added 176,000 jobs in December. They forecast the unemployment to fall to 3.6% last month from 3.7% in November.
....

* * * * *

Five Things to Watch in the Jobs Report

https://blogs.wsj.com/economics/2019/01/03/five-things-to-watch-in-the-december-jobs-report/

Five Things to Watch in the December Jobs Report

By Paul Kiernan

https://twitter.com/pkwsj

Jan 3, 2019 1:36 pm ET

The Labor Department will publish its December jobs report Friday. With the flow of data from other agencies suspended amid the government shutdown, the monthly snapshot of the labor market could provide key insights into the real economy at a time of volatility in financial markets. Here are five things to look for in the report.

1. Hiring

This is the number that could either ease or exacerbate fears among market participants of a recession in 2019. Economists expect employers added 176,000 workers to payrolls in December, which would indicate hiring remained strong at the end of the year despite worries about global growth, trade and interest rates. (One caveat to any number: The data won't reflect any impact from the government shutdown, which started after the Labor Department conducted the survey. ) If nonfarm payrolls increase by fewer than 150,000, it could reinforce slowdown concerns, said Josh Wright, chief economist at iCIMS Inc.

2. Wage Growth

Average hourly earnings are expected to rise 0.3% in December from November and 3% from a year earlier. While that would mark the strongest full-year wage growth since 2008, it's only modestly outpacing inflation. As a result, Fed Chairman Jerome Powell has said the central bank would welcome further pay raises. But if wage growth deviates significantly from the forecast in either direction, it could raise a red flag for policy makers.

3. Unemployment Rate

Economists estimate the unemployment rate fell to 3.6% in December from 3.7% in November. Joblessness hasn't been that low since hitting 3.5% in December 1969, when the Vietnam War was near its peak. The unemployment rate is also expected to come in a tenth of a percentage point below Fed officials' median estimate for the end of 2018. That would likely underscore some policy makers' view that additional rate increases are needed to stave off inflation next year, particularly if a lower unemployment rate is accompanied by strong wage growth.

4. Sensitive Sectors

While most of the U.S. economy is humming along, two sectors are vulnerable to recent developments in global markets. One is the oil industry, which boomed for most of 2018 but may have suffered from falling prices toward the end of the year. The other is manufacturing, which may have lost some of its competitive edge as the U.S. dollar strengthened against foreign currencies. Falling employment in either of these industries would indicate that the risks are becoming a reality.

5. Part-Time Employment

Volatile and highly cyclical, involuntary part-time employment often ticks up before the broader unemployment rate when the economy starts to head south. The number of people working part-time because they couldn't either secure enough hours at their job or find a full-time gig fell to 4.4 million this past August from 9.2 million in 2010. But it has picked up since then, hitting 4.8 million in November. If involuntary part-time employment continues to rise, economists say it could signal emerging weakness in the labor market.

Corrections & Amplifications

Economists estimate employers added 176,000 workers to payrolls in December. A previous version of this article gave an incorrect number. (Jan. 3, 2019)
....

* * * * *

11 replies, 1941 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 11 replies Author Time Post
Reply Payroll employment increases by 312,000 in December; unemployment rate rises to 3.9% [View all]
mahatmakanejeeves Jan 2019 OP
BumRushDaShow Jan 2019 #1
beachbum bob Jan 2019 #2
Igel Jan 2019 #8
mahatmakanejeeves Jan 2019 #3
mahatmakanejeeves Jan 2019 #4
mahatmakanejeeves Jan 2019 #5
mahatmakanejeeves Jan 2019 #6
Bengus81 Jan 2019 #7
beachbum bob Jan 2019 #9
Nitram Jan 2019 #10
Vinca Jan 2019 #11