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Economy Overview

United States

Report | United States Employment Update - January 2015

Summary

​December recorded yet another strong month of employment growth, adding 252,000 net new jobs to the national economy, while unemployment dropped by an additional 20 basis points to 5.6 percent. As a result, roughly 3.0 million jobs have been created over the course of 2014, and we expect this momentum to increase as we start off 2015. Similar to previous months, growth has been distributed across industries, although PBS, education and health and leisure and hospitality continue to lead. Construction also joined the top industries for growth, while retail trade saw a meager 7,700-job increase. From a geographic perspective, Texas, the Sunbelt and the West Coast continue to lead, but most major markets are seeing employment growth of more than 1.5 percent year-on-year. Over the next 24 to 36 months, this performance is likely to remain solid, mirroring the improvements seen in other economic indicators.

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