Atlanta, Georgia (PRWEB) December 29, 2014
The financial activities industry saw an increase in employment with the addition of 20,000 jobs for the month of November, according to the latest employment numbers from the U.S Bureau of Labor Statistics released earlier this month.
The increase in employment represents a growth of 0.25 percent over the previous month’s reported job numbers. The industry now sits at 8,013,000 financial jobs for November with an unemployment rate of 3.5 percent, 0.1 percent lower than the month previous. Over the last 12 months, the unemployment rate dropped 0.8 percentage points from 4.3 percent in November 2013.
Half of the industry’s growth occurred in the insurance carriers sector, which grew by 10,100 jobs in November. Over the past year, insurance has contributed 70,000 jobs to the financial industry’s overall employment gain of 114,000 jobs, or roughly 61.4 percent.
Other gains within the industry occurred in real estate, and the credit intermediation and related activities sector, which grew by 5,600 and 3,400 jobs, respectively.
Across all industries, total nonfarm payroll employment increased by 321,000 jobs in November with widespread gains led by growth in professional and business services, retail trade, health care, and manufacturing.
Unemployment held steady at 5.8 percent and the number of unemployed persons was little changed at 9.1 million. Since November 2013, the unemployment rate and the number of unemployed persons were down by 1.2 percentage points and 1.7 million, respectively.
Employment numbers were revised for both September and October, from 256,000 to 271,000 jobs and 214,000 to 243,000 jobs respectively. With these revisions, employment gains for both months combined were 44,000 more than previously reported.
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