District of Columbia

WASHINGTON, D.C. — Total nonfarm employment in the United States increased by 353,000 jobs in January, according to the U.S. Bureau of Labor Statistics (BLS). This hike nearly doubled the increased predicted by Dow Jones economists, who forecasted an increase of 185,000 jobs, reports CNBC. The unemployment rate held steady at 3.7 percent for the third month in a row. The BLS also made hefty revisions to its calculation of jobs gained in December 2023. The bureau revised December’s gains to 333,000, an increase of 117,000. The BLS also revised November jobs up by 9,000 jobs to 182,000. The average monthly gain in 2023 was 255,000. Employment growth in January was led by the professional and business services sector, which added 74,000 jobs last month. This far exceeds the sector’s average monthly gain of 14,000 jobs in 2023. Other industries that saw increases in January include healthcare (70,000), retail trade (45,000), government (36,000), social assistance (30,000) and manufacturing (23,000). Employment declined in the mining, quarrying and oil and gas extraction industry. The better-than-expected jobs report comes on the heels of the U.S. economy’s gross domestic product (GDP) posting a 3.3 percent annualized growth rate in fourth-quarter 2023. CNBC reports that …

WASHINGTON, D.C. — Total nonfarm employment in the United States increased by 216,000 jobs in December 2023, according to the U.S. Bureau of Labor Statistics (BLS). This jump significantly exceeds the one predicted by Dow Jones economists, who expected an increase of 170,000, according to CNBC. This number falls slightly below the 2023 monthly average increase of 225,000, and the unemployment rate remained unchanged at 3.7 percent. Government employment comprised a significant portion of the total, with 52,000 positions added. Growth occurred primarily at a local level as municipal governments added 37,000 jobs, whereas the federal government added 7,000. The BLS calculates the monthly average for government employment growth in 2023 was 56,000 jobs, which is more than double the average of 23,000 in 2022. Ryan Severino, managing director, chief economist and head of U.S. research at BentallGreenOak (BGO), says that government entities were challenged in 2022 because workers had the upper hand in the labor market as the private sector was actively hiring across various categories, which led to more mobility for employees. He says the government sector experienced a market correction of sorts in 2023. “People aren’t leaving jobs as quickly as they once were, and the slowdown …

WASHINGTON, D.C. — Total nonfarm employment in the United States rose by 199,000 jobs in November, according to the U.S. Bureau of Labor Statistics (BLS). CNBC reports that the figure slightly beats estimates from Dow Jones economists who predicted an increase of 190,000. This also marks an increase from the 150,000 jobs gained in October but below the average monthly gain of 240,000 over the prior 12 months. Private sector employment constituted 150,000 of the added jobs, with 49,000 jobs added in the government. Healthcare saw a significant increase, with the addition of 77,000 jobs, above the average monthly gain of 54,000 over the prior 12 months. The manufacturing and leisure and hospitality industries added 28,000 and 40,000 jobs, respectively, and the social assistance sector saw a more modest increase of 16,000. Employment in information and transportation and warehousing changed little, and retail trade employment declined by 38,000 jobs. The U.S. unemployment rate in November fell to 3.7 percent from 3.9 percent in October, beating expectations from Dow Jones economists who forecasted the rate would remain unchanged. Employment numbers for September and October saw minimal revisions. The BLS revised September job gains down by 35,000 from 297,000 to 262,000, and …