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Broad Based and Moving Forward

By February 9, 2015CMF Blog

The Department of Labor released the January jobs report on Friday. After reading through the 42-page report, CMF uncovered a few details that those who skimmed the headlines may have missed:

    • Unemployment among college educated is 2.8%, down from 3.3 % in 2014, indicating that the competition for talent that is capable of implementing change is getting hotter
    • The growth of 257,000 jobs in January was broadly based:
      • Retail +46,000
      • Construction +39,000
      • Healthcare +38,000
      • Financial Services +26,000
      • Manufacturing +22,000
      • Professional & Technical Services +33,000
      • Food Services +35,000
    • Mining/Logging, Wholesale Trade, Transportation & Warehousing, Information Services, and Government showed little change
    • The previously reported November jobs added figure was increased by 70,000 to 423,000 jobs and similarly for December the figure was increased by 77,000 to 329,000 jobs
    • Average hourly and weekly earnings for production and non-supervisory employees on private nonfarm payrolls increased 2.9% from January 2014 to January 2015

With the unemployment rate seemingly under control, wages increasing, and more and more jobs added each month to every industry, the job market is heating up and competition for A-level talent will be stiff.

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