22 November 2013

• U.S. Regional and State Employment and Unemployment -- October 2013


UNEMPLOYMENT

Regional and state unemployment rates were little changed in October. Twenty-eight states had unemployment rate decreases from September, 11 states and the District of Columbia had increases, and 11 states had no change, the U.S. Bureau of Labor Statistics reported today.

Thirty-eight states had unemployment rate decreases from a year earlier, 10 states and the District of Columbia had increases, and 2 states had no change.

EMPLOYMENT

Nonfarm payroll employment increased in 34 states, decreased in 15 states, and was unchanged in the District of Columbia and Pennsylvania.

The largest over-the-month increases in employment occurred in Florida (+44,600), California (+39,800), and North Carolina (+22,200). The largest over-the-month decrease in employment occurred in Kentucky (-12,600), followed by Washington (-8,100), New Jersey (-5,500), and Virginia (-5,400).

The largest over-the-month decrease in employment occurred in Michigan (-13,000), followed by Ohio (-12,800) and Oregon (-7,900).

Source: USDOL-BLS


21 November 2013

• U.S. Local Area Personal Income - 2012


Personal income growth slowed in 2012 in most of the nation’s 381 metropolitan statistical areas (MSAs). Personal income growth slowed in 311 MSAs, accelerated in 65 MSAs, and remained unchanged in 5 MSAs. On average, MSA personal income rose 4.2 percent in 2012, after growing 6.0 percent in 2011.

Personal income growth ranged from 12.1 percent in Midland, Texas to -1.6 percent in Yuma, Arizona, one of only five MSAs where personal income declined in 2012.

Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.8 percent in 2012 from 2.4 percent in 2011.

See the complete report at this link: USDOC-BEA


• U.S. Real* Average Hourly Earnings – October 2013


Real average hourly earnings for all employees rose 0.2 percent from September to October, seasonally adjusted. This result stems from a 0.1 percent increase in average hourly earnings combined with a 0.1 percent decrease in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average hourly earnings rose 1.3 percent, seasonally adjusted, from October 2012 to October 2013. The increase in real average hourly earnings, combined with a 0.3 percent increase in the average workweek, resulted in a 1.5 percent increase in real average weekly earnings over this period.

See the complete report at this link: USDOL-BLS

*Note: Real earnings show the effect of inflation on your pay. If your salary went up by 2.1% over the year while the cost-of-living (CPI-U) rose 2.3%, then the “real” value of your salary fell by 0.2% [differences in some of the data are due to rounding and seasonal adjustment]. The figures reported here are earnings for all employees on private nonfarm payrolls, seasonally adjusted.


• U.S. Producer Price Index – October 2013


The Producer Price Index for finished goods declined 0.2 percent in October, seasonally adjusted.

Prices for finished goods fell 0.1 percent in September and rose 0.3 percent in August.

At the earlier stages of processing, prices received by producers of intermediate goods declined 0.4 percent, and the crude goods index decreased 0.9 percent.

On an unadjusted basis, prices for finished goods advanced 0.3 percent for the 12 months ended October 2013.

See the complete report at this link: USDOL-BLS


• U.S. Initial Unemployment Claims – 16 November 2013

[Jobless]


In the week ending November 16, the advance figure for seasonally adjusted initial claims was 323,000, a decrease of 21,000 from the previous week's revised figure of 344,000. The 4-week moving average was 338,500, a decrease of 6,750 from the previous week's revised average of 345,250.

The advance seasonally adjusted insured unemployment rate was 2.2 percent for the week ending November 9, unchanged from the prior week's unrevised rate.

The highest insured unemployment rates in the week ending November 9 were in Alaska (4.9), Puerto Rico (4.0), Virgin Islands (3.8), New Jersey (3.0), Connecticut (2.8), Pennsylvania (2.7), California (2.6), Oregon (2.5), Arkansas (2.4), District of Columbia (2.4), Illinois (2.4), Nevada (2.4), and New York (2.4).

The largest increases in initial claims for the week ending November 9 were in California (+4,737), New York (+2,853), Pennsylvania (+2,711), Michigan (+2,271), and New Jersey (+2,210), while the largest decreases were in Florida (-1,055), Kentucky (-580), Ohio (-409), Kansas (-169), and Puerto Rico (-144).

Click on chart to enlarge

Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits.

Source: USDOL-BLS


20 November 2013

• U.S. Consumer Price Index – October 2013


The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent over the last 12 months to an index level of 233.546 (1982- 84=100). For the month, the index decreased 0.3 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.8 percent over the last 12 months to an index level of 229.735 (1982-84=100). For the month, the index decreased 0.3 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.0 percent over the last 12 months to an index level of 133.964. For the month, the index decreased 0.2 percent on a not seasonally adjusted basis.

The Consumer Price Index for November 2013 is scheduled to be released on Tuesday, December 17, 2013, at 8:30 a.m. (EST).

See the complete report at this link: USDOL-BLS


19 November 2013

• U.S. Minimum Wage Changes Ahead – By State


State minimum wage changes effective December 31, 2013

New York: $8.00 per hour. The state minimum wage will also increase to $8.75 per hour effective December 31, 2014, and $9.00 effective December 31, 2015.


State minimum wage changes effective January 1, 2014

Arizona: $7.90 per hour.

Connecticut: $8.70 per hour. The minimum wage is also scheduled to increase to $9.00 per hour on January 1, 2015.

Florida: $7.93 per hour.

Missouri: $7.50 per hour.

Montana: $7.90 per hour.

New Jersey: $8.25 per hour.

Ohio: $7.95 per hour for businesses with annual gross receipts in excess of $292,000 per year.

Oregon: $9.10 per hour.

Rhode Island: $8.00 per hour.

Vermont: $8.73 per hour.

Washington: $9.32 per hour.


State minimum wage changes effective July 1, 2014

California: $9.00 per hour. The state minimum wage will increase again to $10 per hour effective January 1, 2016.

See the complete report at this link: Business & Legal Resources