October 2014: unemployment rate continues slow descent with addition of 214,000 jobs

November 14, 2014

the Bureau of Labor Statistics, there were plenty of new jobs available in October, and the unemployment rate slid down another 0.1 percent from September, to 5.8 percent for the month. This decrease means that only 9 million Americans are currently unemployed, down from 9.6 million people that were unemployed in August. (The number of people who are considered long-term unemployed remained consistent at 2.9 million individuals, as did the number of people working part time due to the economy, at 7 million individuals.) More than 214,000 new non-farm jobs were added in October, just a very slight dip from the previous monthly average of 222,000 jobs. October’s new jobs were spread across several industries. The food and beverage industry added a whopping 42,000 jobs, up significantly from its previous monthly average of 26,000 jobs. Professional and business services saw an increase of 37,000 jobs, especially in temporary services and computer systems (15,000 jobs and 7,000 jobs, respectively). The healthcare market saw 25,000 new jobs added, with more than 75 percent of them being in ambulatory services; retail sales saw 27,000 new jobs, with just about half of them being general merchandise stores. The manufacturing, transportation and construction sectors also saw small increases (between 12,000 and 15,000 jobs each), while the government, mining, information and financial markets saw little change from last month. In addition to the jobs that have been created, 2014 has seen a 2 percent increase in the average hourly wage for non-farm private workers, bringing the total up 3 cents, to $24.57 per hour.]]>

You May Also Like

Check out these additional posts from Mind Your Business.

Significance of PBSA Accreditation in Screening

Jun 13, 2024
In today’s rapidly evolving business landscape, informed hiring choices are paramount. Opting for a background screening firm that upholds rigorous standards of professionalism and integrity, exemplified by PBSA accreditation, is indispensable amid a plethora of options. What is PBSA Accreditation? PBSA, the governing body setting industry benchmarks for background screening firms, grants accreditation following a…
Read More →

Why Are Continuous Background Checks in Employee Management Important?

May 2, 2024
Employee management is a difficult and stressful task for many businesses. But there’s a great tool that keeps workplaces safe, trustworthy, and compliant – ongoing background checks. Let’s take a look at what makes them so helpful, how they work in real life, and why they’re so important for maintaining a secure work environment. What…
Read More →

Choosing the Right Background Check Provider for Continuous Background Checks

Apr 1, 2024
With continuous background checks, the importance of selecting the right provider cannot be overstated. The decision to integrate continuous monitoring into an organization’s processes comes with the responsibility of choosing a background check provider that aligns seamlessly with the unique needs and values of the organization. Let’s explore the key considerations in selecting the ideal…
Read More →

Quality and Precise Results, On Time!

Let us know about your screening needs to get a custom quote. We work with businesses big and small as well as the government. Which means we have a package of solutions for your organization as well.

Contact One of Our Specialists