January 2014 Employment Situation Report Shows Gain of 113000 Jobs

Total nonfarm employment in the United States rose by 113,000 jobs in January 2014 while the unemployment rate declined from 6.7 percent to 6.6 percent and the number of unemployed persons dropped from 10.4 million to 10.2 million, according to ‘THE EMPLOYMENT SITUATION — JANUARY 2014’ released today by the U.S. Department of Labor’s Bureau of Labor Statistics. The current Employment Situation report is available at http://www.bls.gov/news.release/pdf/empsit.pdf.

In January 2014, job gains occurred in construction, professional and business services, leisure and hospitality, manufacturing, wholesale trade, and mining. In 2013, employment growth has averaged 194,000 jobs per month. Among specific industries:

• Construction employment added 48,000 jobs in January 2014, more than offsetting a decline of 22,000 jobs in December 2013.
• Professional and business services employment continued to trend up in January 2014 with 36,000 jobs added, and the industry added an average of 55,000 jobs per month in 2013.
• Leisure and hospitality employment added 24,000 jobs in January 2014, and job growth in the industry averaged 38,000 jobs per month in 2013.
• Manufacturing employment increased by 21,000 jobs in January 2014, and added an average of 7,000 jobs per month in 2013.
• Wholesale trade employment added 14,000 jobs in January 2014, with most of the increase occurring in nondurable goods.
• Mining employment gained 7,000 jobs up in January 2014, compared with an average monthly gain of 2,000 jobs in 2013.
• Health care employment was unchanged in January for the second consecutive month, and the industry added an average of 17,000 jobs per month in 2013.

On the negative side, retail trade employment lost 13,000 jobs and federal government employment decreased by 12,000 jobs in January 2014. Employment in other major industries including transportation and warehousing, information, and financial activities, showed little or no change over the month.

In addition, the change in total nonfarm payroll employment for November 2013 was revised from 241,000 jobs added to 274,000 jobs added and the change for December 2013 was revised from 74,000 jobs added to 75,000 jobs added. With these revisions, employment gains in November and December combined were 34,000 jobs higher than previously reported. The Employment Situation for February 2014 is scheduled to be released on Friday, March 7, 2014.

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