Remember The 20-30 Million American Citizens Searching For A Full Time Permanent Job and The Professional Soldiers Who Made The Ultimate Sacrifice — D-Day June 6, 1944 — Videos

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Story 1: Remember The 20-30 Million American Citizens Searching For A Full Time Permanent Job and The Professional Soldiers Who Made The Ultimate Sacrifice — D-Day June 6, 1944 — Videos

sgs-emp

D-Day Remembered

Operation Overlord & Neptune (D-Day documentary)

Normandy-Surviving D-Day(full )HD Documentary

D-Day in Colour (FULL)

Saving Private Ryan opening cemetery scene

Normandy Speech: Ceremony Commemorating the 40th Anniversary of the Normandy Invasion, D-Day 6/6/84

Is Jobs Data Truly Good News About U.S. Economy?

El-Erian: Jobs Report Points to a Healing Labor Market

Rep. Cole on BLS Jobs Report: “Still have underutilization of the labor force”

Rep. Cole: “We have unique fiscal challenges that transcend our predecessors”

Weekly Market Wrap Up – June 5th, 21015

Nonfarm payrolls total 280,000; unemployment rate at 5.5%

Jeff Cox |

 

The U.S. economy created 280,000 jobs in May, better than expected and likely confirming hopes that growth is back on track after a slow start to the year.

The headline unemployment rate increased slightly to 5.5 percent as the labor force participation rate ticked higher to 62.9 percent. ( Tweet This ) A separate measure that counts those working part time for economic reasons and the unemployed who have not looked for work in the past month held steady at 10.8 percent.

Wages also showed growth, rising 8 cents an hour, equating to an annualized increase of 2.3 percent.

Economists had been expecting a gain of 225,000 positions and the unemployment rate holding steady at 5.4 percent.

“Today’s report showed the U.S. labor market has tremendous momentum. All those factors that parked a weak jobs number in March were short-term,” said Andrew Chamberlain, chief economist at job search site Glassdoor. “All those factors are looking more like a late-winter sniffle than a lingering illness.”

The jobs numbers are critical in that they will go a long way toward determining policy from the Federal Reserve. The hot jobs report sent U.S. government bond yields surging as the wage increase indicates inflation is pushing toward the Fed’s target. Stock futures also indicated a lower open for Wall Street, though the move in the equity market was far less pronounced than in bonds.

Get the market reaction here

After keeping short-term interest rates near zero for 6½ years, the U.S. central bank is looking for a liftoff point that would be confirmed not only by job creation but also by wage growth, which would indicate inflation is on a positive trajectory.

“I think (the jobs number) puts September more firmly on track” for a rate hike, said Jim Caron, portfolio manager of global fixed income at Morgan Stanley Investment Management. “As of yesterday it was probably closer to a 50-50 bet. Today, I think it’s more in lines of a 75 percent probability. It moves the needle in terms of expectations and gives air cover to the Fed.”

Trader bets on the date for a rate hike pushed it forward this week, with the latest trends showing a 33 percent chance of a September hike (up from 26 percent earlier in the week), a 52 percent chance in October (from 44 percent) and a 70 percent likelihood for December (from 61 percent).

While many market participants expect a rate increase this year, the Fed got a stunning jolt Thursday from the International Monetary Fund chief Christine Lagarde, who took the unprecedented step of advising the Fed to wait until 2016 until the inflation picture is clearer.

“This number effectively flies in the face of what the IMF recommended yesterday that the Fed take a pause,” Caron said.

Service industries led the way for May, adding 63,000 positions, while leisure and hospitality grew by 57,000. Health care increased by 47,000, retail added 31,000 and construction moved higher by 17,000. Mining was a dark spot on the report, contracting by 17,000, bringing the decline to 68,000 in 2015.

The average work week was unchanged at 34.5 hours.

The number of full-time workers grew by 630,000, while the part-time rolls fell by 232,000.

Previous months showed minor changes, with March’s disappointing count getting pushed higher to 119,000 from 85,000 and April edging lower from 223,000 to 221,000.

“Overall, at this stage this evident strength in the labor market probably isn’t enough to persuade the Fed to hike rates by July, but it definitely makes a rate cut by September probable,” said Paul Ashworth, chief U.S. economist at Capital Economics. “Only 24 hours later, the IMF’s suggestion that the Fed should wait until 2016 looks very dated.”

http://www.cnbc.com/id/102736075

Employment Situation Summary

Transmission of material in this release is embargoed until			USDL-15-1057
8:30 a.m. (EDT) Friday, June 5, 2015

Technical information: 
 Household data:	(202) 691-6378  •  cpsinfo@bls.gov  •  www.bls.gov/cps
 Establishment data:	(202) 691-6555  •  cesinfo@bls.gov  •  www.bls.gov/ces

Media contact:	        (202) 691-5902  •  PressOffice@bls.gov


			THE EMPLOYMENT SITUATION -- MAY 2015


Total nonfarm payroll employment increased by 280,000 in May, and the
unemployment rate was essentially unchanged at 5.5 percent, the U.S.
Bureau of Labor Statistics reported today. Job gains occurred in
professional and business services, leisure and hospitality, and health
care. Mining employment continued to decline.

Household Survey Data

In May, both the unemployment rate (5.5 percent) and the number of
unemployed persons (8.7 million) were essentially unchanged. Both
measures have shown little movement since February. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men
(5.0 percent), adult women (5.0 percent), teenagers (17.9 percent),
whites (4.7 percent), blacks (10.2 percent), Asians (4.1 percent),
and Hispanics (6.7 percent) showed little or no change in May. (See
tables A-1, A-2, and A-3.)

The number of unemployed new entrants edged up by 103,000 in May but
is about unchanged over the year. Unemployed new entrants are those
who never previously worked. (See table A-11.)

The number of persons unemployed for less than 5 weeks decreased by
311,000 to 2.4 million in May, following an increase in April. The
number of long-term unemployed (those jobless for 27 weeks or more)
held at 2.5 million in May and accounted for 28.6 percent of the
unemployed. Over the past 12 months, the number of long-term
unemployed is down by 849,000. (See table A-12.)

In May, the civilian labor force rose by 397,000, and the labor force
participation rate was little changed at 62.9 percent. Since April
2014, the participation rate has remained within a narrow range of
62.7 percent to 62.9 percent. The employment-population ratio, at
59.4 percent, was essentially unchanged in May. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) was about unchanged at
6.7 million in May and has shown little movement in recent months.
These individuals, who would have preferred full-time employment, were
working part time because their hours had been cut back or because
they were unable to find a full-time job. (See table A-8.)

In May, 1.9 million persons were marginally attached to the labor force,
down by 268,000 from a year earlier. (The data are not seasonally
adjusted.) These individuals were not in the labor force, wanted and
were available for work, and had looked for a job sometime in the 
prior 12 months. They were not counted as unemployed because they
had not searched for work in the 4 weeks preceding the survey. (See
table A-16.)

Among the marginally attached, there were 563,000 discouraged workers
in May, down by 134,000 from a year earlier. (The data are not seasonally
adjusted.) Discouraged workers are persons not currently looking for work
because they believe no jobs are available for them. The remaining 1.3
million persons marginally attached to the labor force in May had not
searched for work for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 280,000 in May, compared with
an average monthly gain of 251,000 over the prior 12 months. In May,
job gains occurred in professional and business services, leisure
and hospitality, and health care. Employment in mining continued to
decline. (See table B-1.)

Professional and business services added 63,000 jobs in May and
671,000 jobs over the year. In May, employment increased in computer
systems design and related services (+10,000). Employment continued
to trend up in temporary help services (+20,000), in management and
technical consulting services (+7,000), and in architectural and
engineering services (+5,000).

Employment in leisure and hospitality increased by 57,000 in May,
following little change in the prior 2 months. In May, employment
edged up in arts, entertainment, and recreation (+29,000). Employment
in food services and drinking places has shown little net change over
the past 3 months.

Health care added 47,000 jobs in May. Within the industry, employment
in ambulatory care services (which includes home health care services
and outpatient care centers) rose by 28,000. Hospitals added 16,000
jobs over the month. Over the past year, health care has added 408,000
jobs.

Employment in retail trade edged up in May (+31,000). Over the prior
12 months, the industry had added an average of 24,000 jobs per month.
Within retail trade, automobile dealers added 8,000 jobs in May. 

Construction employment continued to trend up over the month (+17,000)
and has increased by 273,000 over the past year.

In May, employment continued on an upward trend in transportation and
warehousing (+13,000). Truck transportation added 9,000 jobs over the
month.

In May, employment continued to trend up in financial activities (+13,000).
Over the past 12 months, the industry has added 160,000 jobs, with
about half of the gain in insurance carriers and related activities.

Employment in mining fell for the fifth month in a row, with a decline
of 17,000 in May. The loss was in support activities for mining.
Employment in mining has decreased by 68,000 thus far this year, after
increasing by 41,000 in 2014.

Employment in other major industries, including manufacturing, wholesale
trade, information, and government, showed little change over the month.

The average workweek for all employees on private nonfarm payrolls
remained at 34.5 hours in May. The manufacturing workweek was unchanged
at 40.7 hours, and factory overtime remained at 3.3 hours. The average
workweek for production and nonsupervisory employees on private nonfarm
payrolls edged up by 0.1 hour to 33.7 hours. (See tables B-2 and B-7.)

In May, average hourly earnings for all employees on private nonfarm
payrolls rose by 8 cents to $24.96. Over the year, average hourly
earnings have risen by 2.3 percent. Average hourly earnings of private-
sector production and nonsupervisory employees rose by 6 cents to $20.97
in May. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for March was revised
from +85,000 to +119,000, and the change for April was revised from
+223,000 to +221,000. With these revisions, employment gains in March
and April combined were 32,000 more than previously reported. Over the
past 3 months, job gains have averaged 207,000 per month.

_____________
The Employment Situation for June is scheduled to be released on
Thursday, July 2, 2015, at 8:30 a.m. (EDT).



Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted

[Numbers in thousands]
Category May
2014
Mar.
2015
Apr.
2015
May
2015
Change from:
Apr.
2015-
May
2015

Employment status

Civilian noninstitutional population

247,622 250,080 250,266 250,455 189

Civilian labor force

155,629 156,906 157,072 157,469 397

Participation rate

62.8 62.7 62.8 62.9 0.1

Employed

145,868 148,331 148,523 148,795 272

Employment-population ratio

58.9 59.3 59.3 59.4 0.1

Unemployed

9,761 8,575 8,549 8,674 125

Unemployment rate

6.3 5.5 5.4 5.5 0.1

Not in labor force

91,993 93,175 93,194 92,986 -208

Unemployment rates

Total, 16 years and over

6.3 5.5 5.4 5.5 0.1

Adult men (20 years and over)

5.9 5.1 5.0 5.0 0.0

Adult women (20 years and over)

5.7 4.9 4.9 5.0 0.1

Teenagers (16 to 19 years)

19.2 17.5 17.1 17.9 0.8

White

5.4 4.7 4.7 4.7 0.0

Black or African American

11.4 10.1 9.6 10.2 0.6

Asian

5.6 3.2 4.4 4.1 -0.3

Hispanic or Latino ethnicity

7.7 6.8 6.9 6.7 -0.2

Total, 25 years and over

5.2 4.4 4.5 4.5 0.0

Less than a high school diploma

9.2 8.6 8.6 8.6 0.0

High school graduates, no college

6.5 5.3 5.4 5.8 0.4

Some college or associate degree

5.5 4.8 4.7 4.4 -0.3

Bachelor’s degree and higher

3.2 2.5 2.7 2.7 0.0

Reason for unemployment

Job losers and persons who completed temporary jobs

4,959 4,189 4,136 4,267 131

Job leavers

872 875 828 829 1

Reentrants

2,869 2,689 2,685 2,615 -70

New entrants

1,063 815 868 971 103

Duration of unemployment

Less than 5 weeks

2,553 2,488 2,729 2,418 -311

5 to 14 weeks

2,401 2,312 2,307 2,532 225

15 to 26 weeks

1,451 1,253 1,139 1,293 154

27 weeks and over

3,351 2,563 2,525 2,502 -23

Employed persons at work part time

Part time for economic reasons

7,268 6,705 6,580 6,652 72

Slack work or business conditions

4,404 4,069 3,885 3,891 6

Could only find part-time work

2,558 2,337 2,374 2,390 16

Part time for noneconomic reasons

19,149 19,733 20,056 19,961 -95

Persons not in the labor force (not seasonally adjusted)

Marginally attached to the labor force

2,130 2,055 2,115 1,862

Discouraged workers

697 738 756 563

– Over-the-month changes are not displayed for not seasonally adjusted data.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category May
2014
Mar.
2015
Apr.
2015(p)
May
2015(p)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

236 119 221 280

Total private

238 117 206 262

Goods-producing

25 -20 21 6

Mining and logging

2 -14 -15 -18

Construction

11 -12 35 17

Manufacturing

12 6 1 7

Durable goods(1)

19 6 0 1

Motor vehicles and parts

7.3 5.8 4.1 6.6

Nondurable goods

-7 0 1 6

Private service-providing

213 137 185 256

Wholesale trade

6.5 5.4 -2.3 4.1

Retail trade

10.6 31.6 13.3 31.4

Transportation and warehousing

20.2 1.9 10.8 13.1

Utilities

0.2 0.8 0.8 1.1

Information

-5 -2 8 -3

Financial activities

9 13 8 13

Professional and business services(1)

54 39 66 63

Temporary help services

13.4 15.8 16.1 20.1

Education and health services(1)

56 42 64 74

Health care and social assistance

54.2 36.3 59.6 57.7

Leisure and hospitality

57 6 10 57

Other services

5 0 6 2

Government

-2 2 15 18

(3-month average change, in thousands)

Total nonfarm

264 195 202 207

Total private

258 193 195 195

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES
AS A PERCENT OF ALL EMPLOYEES(2)

Total nonfarm women employees

49.4 49.3 49.3 49.4

Total private women employees

47.9 47.9 47.9 47.9

Total private production and nonsupervisory employees

82.6 82.5 82.4 82.5

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.5 34.5 34.5 34.5

Average hourly earnings

$24.40 $24.85 $24.88 $24.96

Average weekly earnings

$841.80 $857.33 $858.36 $861.12

Index of aggregate weekly hours (2007=100)(3)

100.7 102.9 103.0 103.3

Over-the-month percent change

0.2 -0.2 0.1 0.3

Index of aggregate weekly payrolls (2007=100)(4)

117.3 122.0 122.4 123.0

Over-the-month percent change

0.4 0.1 0.3 0.5

DIFFUSION INDEX
(Over 1-month span)(5)

Total private (263 industries)

67.5 59.3 58.4 61.6

Manufacturing (80 industries)

63.1 46.9 51.9 48.8

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary

NOTE: Data have been revised to reflect March 2014 benchmark levels and updated seasonal adjustment factors.

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