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Job growth in the U.S.? Probably not!

Fonte/Source, Wall Street Journal,

  • 1Hiring Shows Momentum

    First the good news:  Nonfarm payrolls increased 295,000 in February, continuing a 12-month string of monthly job gains in excess of 200,000. The pace of hiring is picking up, as evidenced by the rising six-month average on payroll increases.

  • 2Full Employment? Maybe Not

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    A notable drop in the February unemployment rate to 5.5% made for the lowest reading since May 2008—on the upper edge of the Federal Reserve’s estimate of full employment. But here’s another number to keep in mind: 66.1%. That was the share of working-age adults who were employed or looking for work in May 2008. The February labor-force participation rate was only 62.8%, down from 62.9% in January.  That means millions of adults have exited the workforce, suggesting the economy has more slack in labor markets than the 5.5% jobless rate shows.

  • 3Wage Growth In a Rut

    The big disappointment in the report was the inability of wage growth to break out of its 2% yearly pace. Indeed, wage growth for all private employees and production workers slowed in February from January. Bigger pay raises remain the missing piece of a healthy labor market picture.

  • 4Downshift in Factory Hiring

    Manufacturing payrolls increased by just 8,000 in February, down from the average job gain of 18,000 of the past 12 months. The Labor Department said a strike in the petroleum and coal product sector meant a loss of 6,000 factory jobs last month. Another reason for the low number was a downshift in hiring at motor vehicle and parts makers. While a small part of the factory sector, the swing in auto employment accounts for a large part of the volatility in manufacturing payrolls.  If consumers slow their auto purchases, hiring at automakers will slow as well.

  • 5Misery in the Oil Patch

    The energy sector continued to feel the pain of falling oil prices.  Oil and gas extractors laid off nearly 3,000 workers in January and February. Industries that support the mining sector have done away with 11,000 positions in the same two months. More pain is on the way: A tally of job cut announcements done by outplacement firm Challenger, Gray & Christmasfound the energy sector accounted for one-third of the layoffs announced in February.

    Fonte/Source, http://blogs.wsj.com/briefly/2015/03/06/5-takeaways-from-the-february-jobs-report/

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