In the first Employment Situation report released by the U.S. Bureau of Labor Statistics for 2015, January saw the creation of 257,000 new jobs. Coming off of the best year for job creation since 1999, the unemployment rate rose slightly to 5.7%. But that’s not necessarily bad news: Experts suggest the rate increased as a result of more Americans seeking employment as confidence in the economy grows.
As reports have shown in the past, the January employment report numbers will likely be revised in the coming months. Broader trends are indicating positive job growth. In this month’s jobs report, November’s employment was revised up from 353,000 to 423,000 — the strongest month of private-sector hiring since 1997. Additionally, December’s numbers were revised up from 252,000 to 329,000. Combined, the two revisions account for 147,000 previously unreported jobs.
With the two aforementioned revisions, the average monthly job gain for the past 3 months is 336,000. Another positive sign was the 2.2% increase in private-sector average hourly wages from January 2014.
January’s Fast Facts
The IT Sector’s January Statistics
Employment in the Professional and Technical Services sector increased by 33,000 in January. Of those new jobs, computer systems design contributed 8,000 while management and technical consulting services reported a gain of 3,600.
Despite an increase from December, the unemployment rate for Professional and Technical Services sits well below the national average at 4.0%. The competition for tech talent keeps getting tougher and tougher. As leaders in IT staffing, Modis has the connections with exceptional IT professionals to meet the toughest challenges and branches located conveniently throughout the United States.