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LifeWork Search Newsletter - July 2017

   

 

July 2017 Newsletter
Employment Situation Recap for Q2 2017

As you may know, each month we publish the Employment Situation Report to our website and social media pages to update you with the latest unemployment and job growth stats. For this month's newsletter, we gathered the information to look at Q2 2017 as a whole.
  
In Q2 the unemployment rate averaged 4.4%, which is also what we closed out the quarter at in June. According to an article written by Elise Gould (Fortune.com) in December, 2016, Elise predicts that "if the economy contunues growing anywhere near it's current rate of about 175,000 to 200,000 additional jobs per month, the labor market in 2017 will absorb new and returning workers and the unemployment rate could easily get below 4.5% for the year. So far this year, the unemployment rate has averaged out at 4.5%. June's Employment Situation Report highlighted that analysts anticipate the unemployment rate will continue to stay down. 

The seasonally adjusted unemployment rate for the poplulation 25 years and older who hold at least a bachelor's degree averaged 2.4% for the quarter. Those who have some college or associate's degree averaged 3.8%, highschool graduates with no college averaged 4.6%, and those with less than a highschool diploma averaged 6.3% for the quarter.

There were a total of 571,000 jobs added to the US economy throughout the quarter, exceeding analysts expectations by 29,000 jobs. Analysts expected a total of 542,000 jobs to be added in Q2- expecting 190,000 in April, 182,000 in May, and 170,000 in June. May has been the only month to fall short of the expectation, with 138,000 jobs added for the month, but also brought in the lowest unemployment rate in 16 years (4.3%).

Since the beginning of the year:

  •   The unemployment rate is down by 0.4%
  • In January, the number of unemployed recorded at 7.6 million. By the end of Q2, the number of unemployed decreased to 7.0 million- dropping by roughly 658,000 people
  • The unemployment rate for 2017 YTD has averaged out at 4.5% 

 

"Jason Breault, a business recruiter with LifeWork Search who specializes in the supply chain planning space pointed out..."

Bob Trebilcock, Executive Editor for Modern Materials Handling & Editorial Director of Supply Chain Management Review, shares some takaways and tells of his experience last month at The Best Of The Best S&OP conference in Chicago. Click here to read his article, "Planning at a Crossroads" and read what he had to say about some of the presenters, including the Director of Global Supply Chain Operations Pamela Lindsey at Ciena, Demand Planner Eric Wilson at Berry Global, and Jason Breault here at LifeWork Search.

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