Labor Report Shows Steady Job Growth
The US Bureau of Labor Statistics reported out steady job growth through November. But it’s still not good enough, says Congressman Steny Hoyer, whose Make it In America efforts focus on job growth in the US.
Unemployment held steady at 5.8 percent, but”[j]ob gains were widespread, led by growth in professional and business services, retail trade, health care, and manufacturing,” according to the US Bureau of Labor Statistics. The total nonfarm payroll employment rose by 321,000 jobs.
Employment in professional and business services increased by 86,000 in November, retail trade rose by 50,000, health care added 29,000 jobs over the month, and manufacturing added 28,000 jobs.
Financial activities added 20,000 jobs in November, with half of the gain in insurance carriers and related activities. Transportation and warehousing employment increased by 17,000 in November.
Employment in food services and drinking places continued to trend up in November (+27,000) and has increased by 321,000 over the year. Construction employment also continued to trend up in November (+20,000). Employment in specialty trade contractors rose by 21,000, mostly in the residential component. Over the past 12 months, construction has added 213,000 jobs, with just over half the gain among specialty trade contractors.
November marks the 57th month straight of growth in private hiring, Rep. Hoyer said.
According to the US Bureau of Labor Statistics, the change in total nonfarm payroll employment for September was revised from +256,000 to +271,000, and the change for October was revised from +214,000 to +243,000. With these revisions, employment gains in September and October combined were 44,000 more than previously reported.
The 314,000 private sector jobs the bureau’s November report shows entering the economy and the broad nature of the growth shows a resilient economy, “ripe for growth,” say Rep. Steny Hoyer.
“While Democrats and Republicans were able to come together during the 113th Congress to pass a handful of bills under the Make It In America plan, Congress should make it a priority next year to pass additional bills that strengthen our manufacturing sector and increase our competitiveness.
“In the next Congress, I urge Republicans to work across the aisle with Democrats in order to tap into the gains we’ve seen in recent months. Congress must place job creation at the top of its agenda for 2015, and I look forward to continuing to push for action to help more of our businesses create jobs that help more workers and their families secure a place in a growing middle class.”
See the report summary here.
