Monday, June 17, 2013

Growing Sectors From June BLS Data

On the first Friday of every money, Bureau of Labor Statistics publishes employment reports for the previous month in the United States. In the report published on June 7th, total nonfarm payroll increased by 175,000 in May, putting the unemployment rate at 7.6%. The growth is above the 172,000 figure, which has been the monthly average over the past 12 months. The report highlights that professional and business services added 57,000 jobs in May.

A look into Table B-1, which breaks down the nonfarm payrolls by industry sector and selected industry detail, reveals which sectors have shown the highest consecutive monthly growth. At the levels of detail provided by the report, only 4 selected entries illustrated 0.5% monthly growth for both March to April, and April to May: employment services, temporary help services, business support services, and home health care services. Employment services have seen 1.47% increase from seasonally-adjusted payroll of 3.286 million in March to 3.334 million. Compared to last May, it has climbed by 6.44% during the past year. Temporary help services claim the honor of seeing the highest year-over-year payroll growth at 7.46%.

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