The US Labor Force
Participation Rate moved from 62.9% to 63.1% in December 2018. This indicates
an increase in employment for working-age US citizens age 16 and over.
The US Jobs Report for
December 2018 sites 312,000 jobs, bringing the US Labor Force to 167.77 million.
US Unemployment was reported at 3.9%. The US population is approaching 328
million.
Nonfarm
payroll employment rose by 312,000 in December. Over the year, employment rose
by 2.6 million, compared with a gain of 2.2 million in 2017. In December,
health care, food services and drinking places, construction, manufacturing,
and retail trade added jobs.
The
employment change for November revised up from +155,000 to +176,000, and the
change for October also revised up from +237,000 to +274,000. Incorporating
revisions, job growth has averaged 254,000 per month over the past 3 months.
Average
hourly earnings for all employees on private, nonfarm payrolls rose by 11 cents
in December. Hourly earnings are up 3.2 percent over the year. Average weekly
hours, at 34.5 hours, increased by 0.1 hour over the month, offsetting a
0.1-hour decrease in November.
Employment
in Healthcare rose by 50,000 in December, Ambulatory health care added 38,000
jobs. Home health care services (+13,000), hospitals (+7,000), and offices of
dentists (+7,000) contributing to the growth. In 2018, employment in health
care expanded by 346,000, compared with 284,000 jobs gained in 2017. Employment
in hospitals rose by 108,000 over the year, up from 70,000 jobs added in 2017.
Leisure
and Hospitality Within leisure and hospitality, employment in food services and
drinking places rose by 41,000 in December. Over the past year, this industry
added 235,000 jobs, similar to an increase of 261,000 in 2017.
Construction
Employment in construction rose by 38,000 in December. Within the industry,
heavy and civil engineering construction (+16,000) and nonresidential specialty
trade contractors (+16,000) added jobs. Over the year, construction added
280,000 jobs, compared with an increase of 250,000 in 2017.
Manufacturing
In December, employment in manufacturing rose by 32,000. Durable goods
industries accounted for 19,000 of the increase, including job gains in
fabricated metal products (+7,000) and computer and electronic products
(+4,000). In 2018, employment in manufacturing expanded by 284,000, compared
with a gain of 207,000 jobs in 2017.
Retail
Trade Employment in retail trade rose by 24,000 in December. Within the
industry, general merchandise stores (+15,000) and automobile dealers (+6,000)
added jobs. Sporting goods, hobby, book, and music stores lost 9,000 jobs. Over
the past year, retail trade added 92,000 jobs, after little net change in 2017
(-29,000). +43,000 Professional and Business Services Employment in
professional and business services continued to trend up in December. Over the
year, employment in the industry increased by 583,000, after rising by 458,000
in 2017.
Employment
in mining edged up by 4,000 in December. Coal mining gained 1,000 jobs. Over
the year, mining added 62,000 jobs. However, job growth slowed from 7,000 per
month during the first half of the year to 3,000 per month in the last half.
Recent weakness in mining employment is consistent with a 15- percent decline
in oil prices from November to December.
Construction
employment rose by 38,000 in December. Heavy and civil engineering construction
and nonresidential specialty trade contractors both led with gains of 16,000
jobs each. Employment in construction of buildings (+8,000) continued to trend
up. Construction added 280,000 jobs in 2018, yet employment in the industry was
still 374,000 below its last peak in April 2006.
In December,
employment in manufacturing continued to rise (+32,000). Over the year,
manufacturing added 284,000 jobs, compared to 207,000 in 2017. Durable goods
accounted for 76 percent of the 2018 job gains, adding 216,000. The 1-month
diffusion index for manufacturing increased by 4.6 points to 67.1. A value over
50 indicates that more industries are adding jobs than losing them. Within
durable goods, fabricated metal products (+7,000) and computer and electronic
products (+4,000) continued to add jobs in December, reflecting stronger
annualized growth of Industrial Production in both industries, as of November.
Over the year, fabricated metal products added 48,000 jobs, while computer and
electronic products added 22,000.
Employment
in wholesale trade continued to trend up in December (+8,000), bringing the
industry’s employment gain for 2018 to 89,000 and representing an improvement
over the 68,000 jobs added in 2017. Approximately two-thirds of the 2018 job
growth occurred in durable goods (+59,000).
Retail
trade employment increased by 24,000 in December. Over the year, employment in
the industry grew by 92,000 after little net change in 2017 (-29,000). In
December, motor vehicle and parts dealers (7,000) and general merchandise
stores (15,000) added jobs. These gains were partially offset by a decline in
sporting goods, hobby, book, and music stores (-9,000). Recent retail-related
economic indicators have been mixed. Retail Sales increased by 0.3 percent in
November and were up by 4.0 percent year over year. U.S. Light Weight Vehicle
Sales edged down by 0.6 percent in November. The Consumer Confidence Index
decreased by 6.1 percent in December.
Employment
in transportation and warehousing was flat in December (+2,000) after rising by
29,000 in November. Couriers and messenger services lost 5,000 jobs; however,
the decline followed a particularly large gain in November (+13,000). In 2018,
transportation and warehousing added 190,000 jobs. This is more jobs than the
industry had added in a calendar year since 2014 (+220,000). Over the past
year, job gains were driven by expansion in couriers and messengers (+65,000),
warehousing and storage (+53,000), and truck transportation (+37,000).
Employment
in utilities was essentially unchanged in December and has shown little net
change over the year.
Information
employment changed little in December (-1,000) and over the year (-16,000).
Within the sector, telecommunications lost 26,000 jobs in 2018, while other
information services added 17,000.
Employment
in financial activities changed little in December (+6,000). Within the sector,
non-depository credit intermediation lost 5,000 jobs. Over the year, financial
activities employment grew by 110,000, a gain of 1.3 percent—below the 2017
growth rate of 1.7 percent. A notable change in trend occurred in credit
intermediation, which lost 17,000 jobs since June, leaving employment flat over
the year (-0.2 percent) and following a gain of 1.0 percent in 2017. Insurance
carriers and related activities also saw weaker growth in 2018. Employment in
professional and business services continued to trend up in December (+43,000).
In 2018, the industry added 583,000 jobs, 125,000 more than in 2017.
Industry
employment has been trending up since the most recent employment trough in
August 2009. In December, employment in most professional and technical
services industries continued to trend up. In 2018, professional and technical
services added 286,000 jobs, compared to the 182,000 jobs gained in 2017.
Year-to-year trends accelerated in accounting and bookkeeping services,
computer systems design and related services, and scientific research and
development services. Employment in administrative and waste services also
continued to trend up in December (+25,000). This industry added 269,000 jobs
in 2018, slightly more than the 238,000 in 2017.
Most of
the component industries experienced very similar annual changes compared to
the prior year. Job growth accelerated slightly in services to building and
dwelling places and in waste management and remediation services. Temporary
help services experienced an annual change in 2018 (+99,000) similar to 2017.
Health
care ended 2018 strongly as it added 50,000 jobs in December. Employment gains
were concentrated in ambulatory health care services, which added 38,000 jobs.
Home health care services added 13,000 jobs, while offices of dentists added
7,000. Other industries within ambulatory health care posted gains near their
prior 12-month average change. Elsewhere in health care, hospital employment
also expanded, adding 7,000 in December. Health care added 346,000 jobs in
2018, more than the 284,000 added in 2017. Within ambulatory health care
services, home health care services added 58,000 jobs in 2018, the most of any
industry within health care. Hospitals also had a strong year, adding more jobs
than in either of the previous 2 years.
Employment
in leisure and hospitality increased by 55,000 in December, which was
concentrated in food services and drinking places. Leisure and hospitality
added 306,000 jobs over the year, after adding 354,000 in 2017. Food services
and drinking places, buoyed by strong sales, gained 235,000 jobs in 2018.
Employment
in other services changed little in December (+8,000). The industry added 70,000
jobs in 2018, less than the 109,000 jobs added in 2017. Over the year, personal
and laundry services added 34,000 jobs.
In
December, employment in government changed little (+11,000). U.S. Postal
Service lost 4,000 jobs after a gain of 6,000 in November. Employment in both
state and local government was essentially unchanged. Government employment
changed little in 2018.
Norb Leahy, Dunwoody
GA Tea Party Leader
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