What is U.S. Unemployment Rate for December 2017?
According to the U.S. Bureau of Labor Statistics (BLS) the U.S. national unemployment rate (seasonally adjusted) for December 2017 was 4.1%. This represents no change for the last quarter, but is an overall decrease of 0.7 from the beginning of 2017.
What is the average U.S. Hourly Wage as of December 2017?
According to the U.S. Bureau of Labor Statistics (BLS), the U.S. average hourly wage is $26.63 per hour, which is an increase of $0.08 per hour from November 2017 and an overall increase of $0.60 from the beginning of 2017.
Source2's Employment Outlook
Total nonfarm employment rose by 148,000 jobs in December with the largest growth occurring in healthcare, construction and manufacturing. Total job growth in 2017 was 2.1 million jobs compared to 2.2 million in 2016. We see this trend continuing in 2018 with healthcare, construction and manufacturing continuing to be growth leaders.
The unemployment rate in the United States peaked at 10% in October 2009. Currently, the unemployment rate is at 4.1%, and we see this declining even more in 2018 causing more wage pressure than in 2017. We also see average wage increases averaging 3%+ in 2018 from 2.5% in 2017.
The shortage of workers will continue in 2018 being especially acute in the metropolitan areas of the country. We predict that more part-time employees will become full-time employees. This trend started in 2017 when the number of “involuntary” part-time workers declined by 11%. At this time, there is room for more part-time workers to become full-time.The U.S. economy by any measure is roaring and we expect 2018 to continue that growth. Worker shortages will be a problem especially in the trades. More and more companies will start “growing their own” by providing training, apprenticeships and partnering with schools to train the workers needed.
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
Cliff Edahl is Executive Vice President of Source2, and is responsible for business development. Cliff has extensive expertise in high-volume talent acquisition solutions for voice/data infrastructure, utility, fabrication, healthcare, and government entities. Schedule a free consultation with Cliff today.