January 2017 Labor Market Information

January 2017 NewsWIB Labor Market Information

Ohio, Hamilton County, Cincinnati

and Cincinnati MSA

Current Employment & Unemployment Data

The following labor market information was updated in November 2016. All employment and unemployment figures are "seasonally adjusted."

Ohio's unemployment rate = 4.9%
Ohio's employed = 5,435,000
Ohio's unemployed = 278,000

Hamilton County's unemployment rate = 4.0%
Hamilton County's employed = 386,900
Hamilton County's unemployed = 16,100

Cincinnati MSA's unemployment rate = 3.8%
Cincinnati MSA's employed = 1,037,100
Cincinnati MSA's unemployed = 41,500

City of Cincinnati's unemployment rate = 4.3%
City of Cincinnati's employed = 136,000
City of Cincinnati's unemployed = 6,200

Additional information at www.ohiolmi.com.

4 Big Issues Affecting

Tomorrow's Workplace

By Nicole Fallon, Business News Daily Assistant Editor, April 2015

Although the above article was written in 2015, we are definitely seeing the effects of the following workplace trends.

Freelance and remote workers - "...as companies add freelancers, independent contractors and full-time telecommuters to their workplace, they often find that managing remote worker requires a whole new approach to leadership."
Generation Z - "...Gen-Zers look for a workplace that minimizes distractions so they can fully focus on making a difference both in and out of the office" says Denise Lage, VP at Condeco Software."
Social Media Use - States Kim Davis, VP at NFP, "Employees can have conversations and we can't and shouldn't stop them from highlighting their engagement with the company. But you can set limits - talk about appropriate use of social media, who can post on behalf of the company, how often you can access personal accounts during business hours, etc."
Work-connection smart devices - "Jim Haviland, chief strategy officer of Vox Mobile, said that businesses will no longer be able to ignore the crossover of personal mobile devices into work territory, especially when it comes to wearable tech. Rather than banning such devices from the office, employers will have to create a mature, realistic approach to data security and privacy."

To read Nicole Fallon's entire article, click here.

National LMI Updates

for December 2016

Employment

Nonfarm payroll increased by 156,000 in December 2016, and the U.S. unemployment rate changed little at 4.7 percent. According to the U.S. Bureau of Labor Statistics, job gains occurred in healthcare , food service and drinking places, and social assistance.

Healthcare added 43,000 jobs.
Food service and drinking places added 30,000 jobs.
Social assistance added 20,000 jobs.
Transportation and warehousing added 15,000 jobs, many of which may have been seasonal.

December 2016 average hourly earnings for all employees on private nonfarm payrolls increased to $26.00. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was 33.6 hours.

Unemployment

The number of persons unemployed was 7.5 million in December 2016.
The unemployment rates for major worker groups decreased for Adult Men (4.4%); Adult Women (4.3%); Teenagers (14.7%); Whites (4.3%); Asians (2.6%) and Hispanics (5.9%). Unemployment for Blacks dropped to 7.8%.

Part-time Employment Facts

The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers), at 5.6 million, was unchanged in December 2016, but was down by 459,000 over the year. These individuals (who would have preferred full-time work) were working part-time because their hours were cut back or because they could not find a full-time job.

Click here for more information reported from the Bureau of Labor Statistics on January 6, 2017.