The downside of the report indicates fewer jobs created for the month, coming in at 151,000. This is against steady growth over the past few months coming in at above 200,000 per month.
And now let’s look at the upside:
First the winning growth categories for the month include; retail with 58,000 jobs, food services with 47,000 jobs and healthcare with 37,000 jobs. Manufacturing added 29,000 jobs after little change in previous months.
Wages are seeing a steady increase, up 2.5 % above last year. This is a major indicator of an improving economy, a figure that has been relatively flat during this recovery.
Unemployment rate dropped to 4.9 %. Layoffs have fallen and more people have voluntarily left their jobs because they see more opportunities for growth in other positions; a good sign.
We saw to revisions upward for the past two months of 2015. November was revised from 252,000 to 280,000, and December was revised from 292,000 to 262,000.
What we can tell you from our experience here at King & Bishop is there is still demand for new talent in many industries. 2016 still looks to be a year of steady job gains and our expert are ready to help you find that next great hire.