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Friday, November 7, 2014

How Many Jobs Were Created or Lost in October 2014?

How Many Jobs Created or Lost in November 2014?  HERE! 

Please check HERE for details and updates about November 2014 data.

How Many Jobs Created (Gained) or Lost in October 2014?

  • 214,000 TOTAL payroll jobs were ADDED or CREATED in seasonally adjusted numbers.
  • 209,000 PRIVATE payroll sector jobs were ADDED or CREATED in seasonally adjusted numbers.
  • 5,000 GOVERNMENT (federal, state, and local) jobs were ADDED or CREATED in October. 
  • 683,000 MORE people employed.
  • 345,000 MORE people employed full-time. 
  • 334,000 MORE people employed part-time.
  • 76,000 FEWER people employed part-time involuntarily.  (In other words, people who want full-time work but can only find part-time work.)
  • 416,000 MORE people in the civilian labor force (people either working or looking for work).
  • 267,000 FEWER people unemployed.
  • Unemployment rate drops to to 5.8% (from 5.9%) primarily due to a big increase in the number of employed people AND a big decrease in the number of unemployed people.

To Summarize:  

In summary, there are many more payroll jobs and many more people employed.  Though there are about as many people newly employed part-time as full-time, the increase in the number of people working part-time is all in the "voluntary" group; that is, people working part-time by choice.  



The unemployment rate went down because more people are employed and fewer are unemployed, a good mix.



As usual, the numbers in any one month need to be taken with a grain of salt, as any movements in any one month are not necessarily trends.  However, we have now had 56 consecutive months of private sector job creation, a record as long as such numbers have been kept.

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