What is U.S. Unemployment Rate for January 2018?
According to the U.S. Bureau of Labor Statistics (BLS), the U.S. national unemployment rate (seasonally adjusted) for January 2018 was 4.1%. This represents no change since .
What is the average U.S. Hourly Wage as of January 2018?
According to the U.S. Bureau of Labor Statistics (BLS), the U.S. average hourly wage is $26.74, which is an increase of $0.11 per hour from December 2017.
A tightening labor market delivered the biggest annual increase in wages since the end of the recession. Nonfarm payrolls grew by 200,000 in January, modestly more than December and the unemployment rate remain unchanged at 4.1%. The economy needs 150,000 new jobs each month to keep expanding. Job growth increased in construction, food services, health care, and manufacturing.
In conjunction with the payroll growth, average hourly earnings were up 0.3% for the month, matching estimates and reflecting an annualized gain of 2.9%. This represented the best growth since mid-2009 as the two-year economic slump was coming to a close. Construction reported the biggest gain with 36,000 new jobs in January 2018. Bars and restaurants added 31,000 jobs and health care was up by 21,000 jobs. Manufacturing also showed a gain of 15,000 jobs and durable goods-related industries added 18,000 jobs.
In January, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $26.74, following an 11-cent gain in December. Over the year, average hourly earnings have risen by 75 cents, or 2.9%. Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $22.34 in January. While the labor force participation rate held steady at 62.7%, those counted as not in the labor force increased, jumping by 153,000 jobs to 95.7 million.
What does this mean to employers?
The payroll numbers come amid an expected acceleration in growth for the U.S. economy. The Atlanta Federal Reserve is expecting a GDP gain of 5.4% in the first quarter, which would be the best increase since the recovery began in mid-2009. While job gains have been solid and consistent, salary growth has been elusive. Economists surveyed by Reuters had been expecting job growth of 180,000 and an unemployment rate of 4.1%. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons edged higher to 8.2%, the highest level since September 2017.
About the Report
Source2’s Monthly U.S. Unemployment Rate & U.S. Average Hourly Wage report makes it easy to quickly see the latest numbers from the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) surveys. Click here to download an excel spreadsheet with three years of data in cell and chart formats, or click here for a one-page pdf snapshot to print and share.
U.S. Average Hourly Earnings - All Private, Nonfarm (Seasonally Adjusted) https://www.bls.gov/news.release/empsit.t19.htm
Those Not in the Workforce https://www.bls.gov/web/empsit/cpseea38.htm
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