Job Gains Continue

Green Escrow - employment

November, 2017 was the 86th straight month of job growth with 228,000 positions added and unemployment remaining at 4.1 percent. The manufacturing and health care sectors lead the gains while the information sector – including broadcasting, telecommunications, motion pictures, sound recording, and publishing lost jobs, continuing the trend for the past year.

While employment rains strong, wage growth was lower than expectations although many analysts do anticipate an acceleration of wage growth during the coming year.

Finally, the value of household real estate is now $24.2 trillion, a higher mark than even the bubble peak of 2006.

U.S. Job Growth Strong in Certain Sectors

Green Escrow - employment

While the U.S. employment numbers declined for the first time in sever years, this was not unanticipated due to the effects of Hurricanes Harvey and Irma, particularly in the South and Southwest. Not surprisingly, the leisure and hospitality industries took the largest hit, losing 111,000 jobs.

However, the good news is that manufacturing and construction jobs continued steady growth as did transportation, warehousing, health care, and professional and business services.

IT (information Technology) showed increases in positions available as did cybersecurity with over 300,000 job postings int he last 12 months.

U.S. Employment Remains Strong

Green Escrow - employment

The employments news continues to be positive. Since 2016 the U.S. economy has added 2.24 million jobs and the unemployment rate sites at 4.4 percent.

All is not completely roses however. Wage growth continues to lag with hourly wage growth at 2.5 percent annual growth.

Likewise, there continues to be a disparity between employer-needed skills and existing labor-force skills. For example, in the Bay Area alone the information sector added 9,600 new jobs.