Total nonfarm payroll employment in the United States increased by 146,000 jobs in November 2012 and the unemployment rate dropped to 7.7 percent from 7.9 percent, according to ‘THE EMPLOYMENT SITUATION — NOVEMBER 2012’ released by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). The report also found that Hurricane Sandy – which hit the Northeast coast on October 29 and caused severe damage – “did not substantively impact the national employment and unemployment estimates for November.” The report is available at http://www.bls.gov/news.release/pdf/empsit.pdf until the December 2012 Employment Situation Report is released on Friday, January 4, 2013.
The November 2012 Employment Situation Report showed the number of unemployed people dropped to 12 million from 12.3 million. The BLS report also revised the change in nonfarm employment for September 2012 from 148,000 jobs added down to 132,000 jobs added and the change for October 2012 was revised from 171,000 jobs added down to 138,000 jobs added. Since the beginning of 2012, employment growth has averaged 151,000 jobs per month, about the same as the average monthly job gain of 153,000 jobs in 2011. In November 2012, employment rose in retail trade, professional and business services, leisure and hospitality, and health care. The report found among specific industries:
- Retail trade employment rose by 53,000 jobs in November 2012 and has increased by 140,000 over the past 3 months.
- Professional and business services employment rose by 43,000 jobs in November 2012 as employment continued to increase in computer systems design and related services.
- Leisure and hospitality employment continued to trend up with 23,000 jobs added in November 2012, and the industry has added 305,000 jobs over the past 12 months.
- Health care employment continued to increase in November 2012 with 20,000 jobs added, and has added an average of 26,000 jobs per month this year.
- Wholesale trade employment edged up 13,000 jobs over the month, and the industry has added 228,000 jobs since reaching an employment trough in May 2010.
- Information employment also edged up in November 2012 with 12,000 jobs added, with the increase concentrated in motion picture and sound recording.
- Construction employment in declined by 20,000 jobs in November 2012, with much of the loss occurring in construction of buildings.
- Employment in other major industries including manufacturing, mining and logging, transportation and warehousing, financial activities, and government showed little change in November 2012.
According to the November 2012 ADP National Employment Report® produced by Automatic Data Processing, Inc. (ADP®), the U.S. economy added 118,000 private sector jobs from October to November, while the estimated gain from September to October was revised down slightly from the initial estimate of 158,000 jobs to 157,000. Unlike the BLS report which stated that Hurricane Sandy had no substantial effect on estimates, the ADP report – produced in collaboration with Moody’s Analytics – surmised that the Superstorm “wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls.” The November 2012 ADP National Employment Report is available at: http://www.adpemploymentreport.com/2012/November/NER/NER-November-2012.aspx.
Other highlights of the November 2012 ADP National Employment Report include the following:
- Large businesses representing payrolls with more than 499 employees added 66,000 jobs from October 2012 to November 2012. Large businesses with more than 1,000 employees gained 62,000 jobs while those with 500-999 employees gained 3,000 jobs.
- Medium businesses representing payrolls with 50 to 499 employees added 33,000 jobs from October 2012 to November 2012.
- Small businesses representing payrolls with 1 to 49 employees added 19,000 jobs from October 2012 to November 2012. Small businesses with 20 to 49 employees gained 6,000 jobs while those with 1 to 19 employees gained 13,000 jobs.
- Service providing sector added 114,000 jobs from October 2012 to November 2012.
- Goods producing sector added 4,000 jobs from October 2012 to November 2012.
- Construction gained 23,000 jobs from October 2012 to November 2012.
- Trade/transportation/utilities gained 22,000 jobs from October 2012 to November 2012.
- Professional/business services gained 16,000 jobs from October 2012 to November 2012.
- Financial activities gained 13,000 jobs from October 2012 to November 2012.
- Manufacturing lost 16,000 jobs from October 2012 to November 2012.
Of the 19,000 jobs created in private small business employment from October 2012 to November 2012, the ADP Small Business Report® – a subset of the ADP National Employment Report – revealed that the service providing sector added 16,000 jobs while the goods producing sector gained 3,000 jobs. Additional information about small business employment is available at http://www.adpemploymentreport.com/2012/November/SBS/SBS-NER-November-2012.aspx.
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