Atlanta, GA (PRWEB) February 26, 2015
The financial activities industry saw an increase in employment with the addition of 26,000 jobs for the month of January, according to the latest employment numbers from the U.S Bureau of Labor Statistics released on Friday, February 6, 2015.
The increase in employment represents a growth of 0.32 percent over the previous month’s reported job numbers. The industry now sits at 8,077,000 financial jobs for January with an unemployment rate of 3.0 percent, 0.4 percent lower than the month previous. Over the last 12 months, the unemployment rate dropped 0.8 percentage points from 3.8 percent in January 2014.
Over half of the supersector’s growth occurred in the insurance carriers and related activities sector, which grew by 13,900 jobs in January. Over the last 12 months, insurance has contributed 93,800 jobs to the financial industry’s overall employment gain of 159,000 jobs, or roughly 69.5 percent. Other gains within the industry occurred in securities, commodity contracts, investments, and funds and trusts, which grew by 5,000 jobs.
Across all industries, total nonfarm payroll employment rose by 257,000 in January, with job gains in retail trade, construction, health care, financial activities, and manufacturing. The unemployment rate, at 5.7 percent, changed little in January and has shown no net change since October. The number of unemployed persons remains little changed at 9.0 million for the month of January.
Employment numbers were revised for both November and December, from 353,000 to 423,000 jobs and 252,000 to 329,000 jobs respectively. With these revisions, employment gains for both months combined were 147,000 higher than previously reported. The Bureau of Labor Statistics reports the revisions are a result additional reports received from businesses since the last published estimates, the monthly recalculation of seasonal factors, and the annual benchmark process.
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