For those people looking for work, the following paragraphs from the Bureau of Labor Statistics (BLS) commissioner’s report indicates where the new jobs were created. If you are looking for a job, these areas may offer employment opportunities.
- Employment in food services and drinking places continued to trend up in August (+34,000). Over the year, the industry has added 312,000 jobs.
- The social assistance industry added 22,000 jobs in August, mostly in individual and family services (+17,000).
- Employment in professional and technical services edged up by 20,000 in August, roughly in line with the average monthly gain over the prior 12 months (+24,000).
- Employment in financial activities continued on an upward trend in August (+15,000), with a gain of 6,000 in securities, commodity contracts, and investments. The financial activities sector has added 167,000 jobs over the year.
- Health care employment continued to trend up over the month (+14,000), but at a pace well below the average monthly gain over the prior 12 months (+39,000). In August, hospitals added 11,000 jobs, and employment in ambulatory health care services trended up (+13,000). A job loss in nursing and residential care facilities (-9,000) offset a gain in July.
- Mining employment continued on a downward trend in August (-4,000). Although job losses have moderated in the last 3 months, employment in mining has fallen by 223,000 since a peak in September 2014.
Employment changed little over the month in several other industries, including construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, temporary help services, and government.
The BLS CPS report states there were 20,857,000 veterans left in the United States in August, down 26,000 from the 20,883,000 veterans in July. As I have said many times, since the Vietnam War the trend of veterans in the United States has continuously been decreasing. America has lost two-thirds of its veterans since the Vietnam War. This is an important issue for veterans as with decreasing numbers, they are losing the political power they had in the past.
BLS CPS reports there were 10,522,000 (50.4%) veterans in the workforce in August. That represents a decrease of 99,000 from the 10,262,000 (50.9%) veterans in the workforce in July.
453,000 (4.3%) veterans were unemployed in August, up 4,000 from the 449,000 (4.7%) veterans who were unemployed in July. 10,335,000 veterans were not in the workforce in August, an inecrease from the 10,262,000 who were not in the workforce in July. This number shows there are a lot of veterans sitting on the sidelines and not participating in the workforce. This is also true of civilians where 90 million are not participating in the workforce. In spite of what politicians may say, you cannot have a thriving economy with so many people not participating in the workforce.
The really good news is the overall veteran unemployment rate continues to be lower than the national unemployment rate. The fact that the veteran unemployment rate of 4.3% is lower than the national unemployment rate of 4.9% is great news for the veteran community. And again demonstrates that veterans are in high demand in the civilian work place.
The August 4.3% veteran unemployment rate again confirms that veterans are obtaining employment at a better rate than nonveterans.