Adecco USA Job Market Update August 2014

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Job Market UpdateU.S. Economic Data

Reflective of the Bureau of Labor Statistics “The Employment Situation – August 2014”

As of September 2014

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Overview of “The Employment Situation”

• As recently as August 2014, total nonfarm payroll employment increased by 142,000

• Revisions to prior months, June & July:- May and June stats were 28,000 fewer

than originally reported- June payroll numbers revised from

+298,000 to +267,000- July payroll numbers revised from

+209,000 to +212,000

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142,000 new jobs added in August

Aug-13

SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL Aug-14

202

164

237

274

84

144

222203

304

229

267

212

142

In T

ho

us

an

ds

3

* Numbers are seasonally adjusted. Source: BLS

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Unemployment rate decreased in August

• Total nonfarm payroll employment increased by 142,000

- Unemployment rate slightly dropped, from 6.2% to 6.1%

- Unemployment rate and the numbers of unemployed persons have declined by 1.1%, (1.7 million) in the last year.

• Long-term unemployed (jobless for 27+ weeks) – decreased by 192,000 to 3.0 million

- Since August 2013 – decrease of 1.3 million

• Discouraged workers – 775,000- The same from previous year

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JOBS GAINED IN AUGUST

UNEMPLOYMENT RATE

LOWEST UNEMPLOYMET RATE SINCE

142,000

6.1%

JULY 2014

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August’s job creation statistics

• United States private sector generated over 134,000 jobs in August- Employment rate back to pre-recession

conditions

- US has more jobs than in over four years

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Source: BLS

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Industry Breakdown

Professional & Business Services• Increase of 47,000 jobs (up +639,000

from previous year)- Management of companies and

enterprises: +7,800 new jobs (2.1 million total workforce)

- Administrative & support services: +22,700 new jobs (8.3 million total workforce)

- Temporary help services: +13,000 new jobs (2.8 million total workforce)

• Total Americans employed in this sector during August: 19.3 million

Healthcare• Increase of 34,000 jobs

- Ambulatory services: +22,800 new jobs (6.7 million total workforce)

- Social assistance services: +8,700 new jobs (3.3 million total workforce)

- Physicians’ offices services: +7,800 jobs (2.5 million total workforce)

Temporary Help Services• Increase of +13,000 jobs

• Since August 2013, annual growth of 214,900 people employed – average of 2.8 million people

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Source: BLS

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Industry Breakdown

Manufacturing

• Increase of +28,000 new jobs in July. No change in August.

• Total Americans employed in this sector during August: 12 million

Construction

• Increase of 20,000 jobs- Construction of buildings: +7,200 new jobs

(1.3 million total workforce)- Nonresidential specialty trade contractors:

+2,300 jobs (2.1 million total workforce)- Residential specialty trade: +9,200 new

jobs (1.6 million total workforce)

• Total Americans employed in this sector during August: 6 million

Retail

• Decrease of 8,400 jobs- Food and beverage stores: -17,100 jobs

(2.9 million total workforce)- Clothing and accessories stores: -6,200

jobs (1.3 million total workforce)- General merchandise stores: +7,600 new

jobs (3.1 million total workforce)

• Total Americans employed in the sector during August: 15.3 million

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Employment in total non-farm

Mining and logging

Construction

Manufacturing

Wholesale trade

Retail trade

Transportation and warehousing

Information

Financial activities

Professional and Business services

Education and health services

Leisure and hospitality

Temporary help servies

Other services

Government

-20 -10 0 10 20 30 40 50 60

2

20

0

6.5

-8.4

1.2

-3

7

47

37

15

13

8

8

Over-the-month change, August 2014

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* Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, August 2014

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Metropolitan employment improving across the country – July 2014

• Regional and state unemployment rates saw little change in the United States metropolitan areas

• In July, the national unemployment rate increased slightly to 6.2% - 1.1% lower than the previous year.

- Bismarck, North Dakota — at 2.4%—led the nation with the lowest unemployment rate (an increase of 0.2% from June).

- Unemployment decreased in 348 of 372 metropolitan areas, increased in 16 areas and was unchanged in 8 areas.

- 15 states had jobless rates of at least 10%, whereas 68 area had rates less than 5%- All of the 34 metropolitan regional divisions had over-the-year employment gains since August

2013

• Largest over-the-year unemployment rate decrease was in Chicago-Joliet-Naperville, Ill. (-2.8 percentage points), followed by Lawrence-Methuen-Salem, Mass.-N.H. (-2.1 points) and Los Angeles-Long Beach-Glendale, Calif. (-2.0 points).

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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Mid-Atlantic Region – July 2014

• Unemployment rate 6.3%(unchanged from the previous month)

• Philadelphia, PA had the largest rate decline from previous year (-2.6% points)

• Morgantown, WV reported the lowest unemployment rate at 4.3% (+0.2% from the previous month)

• States:- New Jersey- New York- Pennsylvania

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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Midwest Region – July 2014

• Unemployment rate 5.9% (unchanged from previous month)

• By state – North Dakota had lowest unemployment rate of 2.8%

• By city – Bismarck, North Dakota had the lowest rate of 2.4% (-0.2% from previous month)

• Largest over-the-year percentages increase in job growth also occurred in North Dakota (+4.4%)

• States:- Illinois- Indiana- Iowa- Kansas- Michigan- Minnesota- Missouri- Nebraska- North Dakota- Ohio- South Dakota- Wisconsin

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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Mountain-Plains Region – July 2014

• By state – Nevada had the largest unemployment rate decrease at 2.2% from previous year

- Still came in last in the region with 7.7% unemployment

- By city – Yuma, AZ has largest unemployment rates in the country at 29.9% (+2.3% from previous month)

• States:- Alaska- Arizona- California- Colorado- Hawaii- Idaho- Montana- Nevada- New Mexico- Oregon- Utah- Washington- Wyoming

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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New England Region – July 2014

• Unemployment rate 5.8% (0.1% increase)

• Vermont Burlington-South Burlington metro area and New Hampshire’s Portsmouth NH-ME metro area tied at the lowest unemployment rate of the region at 3.6%

• Highest unemployment rate in Lawrence-Methuen-Salem at 9.9%

• States:- Connecticut- Maine- Massachusetts- New Hampshire- Rhode Island- Vermont

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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Southeast Region – July 2014

• Unemployment rate increased slightly from 6.1% to 6.2% during July

• South Carolina (-2.0%) had the largest unemployment rate declines from June 2013

• Virginia had the lowest unemployment rate in the region at 5.4%.

• States:- Delaware- District of Columbia- Florida- Georgia- Maryland- North Carolina- South Carolina- Virginia- West Virginia- East South Central- Alabama- Kentucky- Mississippi- Tennessee

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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Southwest Region – July 2014

• Unemployment rate increased slightly from 5.1% to 5.2% during July

• By state – Oklahoma had the lowest unemployment rate of 4.6%

• By city – Midland, TX had the highest unemployment rate at 2.9% (-0.7% from previous year)

• Texas saw the largest over-the-month increases in employment in the US with +396,200 new jobs

• States:- Arkansas- Louisiana- Oklahoma- Texas

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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West Region – July 2014

• Unemployment rate 6.6%, a decline of -0.1% from previous month and -1.5 from previous year(highest regional unemployment rate)

• By state – Utah had the lowest unemployment rate of 3.6%

- Logan, UT-ID – 3.3%

• California had the largest over-the-year job increase, adding 323,400 new jobs since June 2013

- Overall jobless rate of 7.4%- El Centro, CA had the highest

unemployment rate in the state at 24.7%

• States:- Alaska- Arizona- California- Colorado- Hawaii- Idaho- Montana- Nevada- New Mexico- Oregon- Utah- Washington- Wyoming

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

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