The June Jobs Report was even better than is being reported. This column has already published numerous articles on June Jobs Report, even as the rest of the media is moving on with their coverage of Fake News. While some commentators are lamenting that the seasonally adjusted data is less than spectacular, this column focusing on reality, or the non-seasonally adjusted data:
- We saw the number of full-time jobs added to the Market exceed what was added during the June reporting periods of 2007-2016. We saw 1.426 million NSA Full-time Jobs added this June.
- President Trump has added full-time jobs and cut part-time jobs and the number of unemployed workers during his first five months in office while President Obama oversaw the loss of full-time jobs and the addition of unemployed workers and part-time jobs during his first five months in office.
- We saw the highest ever level of June Workers who were working two or more part-time jobs. This was a decline from May 2017.
- We saw 9 of 11 Sectors add workers during the month of June. The only sectors that did not add non-seasonally adjusted workers were the Government and Information Sectors.
- The "Retail Ice Age" has been a Retail Winter for Dollar Volume - and a Jobs Tsunami for the Retail Workers, except for the Food and Beverage Places.
- We Saw the Number of Men Working Full-time Jobs recover to July 2007 Levels and exceed them.
- Last Month the Job Openings and Labor Turnover (JOLTS) Data was released for April, and that data indicated that separations were rising in the Health and Education Sector.
One of the Sectors that has seen the most growth is the Health and Education Sector.The Health and Education Sector is broken down into sub-sections and smaller sub-sections. The data reveals, as was detailed in the Sector Column, that six sectors have not returned to pre-recession levels. What is interesting is the surge in the Health and Education Sector, The Leisure and Hospitality Sector, Trad, Transportation and Utility Sector. This surge coincides with what is being evidenced in the JOLTS data from two months ago.
Ambulatory Health Care Services has seen the largest spike within the Health Sub-Sector. There are four sub-categories in the Health and Education Sector that are all showing growth. The Health Service sub-sector is comprised of the Ambulatory Health Care Services, Hospital, Nursing and Residential Care Facilities, and Social Assistance categories The Ambulatory Health Services category has more than doubled the number of workers it had during January of 1990.
Social Assistance Is Soaring to Record Levels. There is a complete set of all the Super-sector, Sub-sector and category of data available on the Current Employment Statistics Data site. (Note: You may have to use Microsoft Internet Explorer to download the data.) Individual and Family Assistance is the largest segment of the Social Assistance category of Health Services workers, comprising 21.3 million of the 37.4 million Social Assistance Workers. (Table B-1 of the Monthly Report.)
Health and Educational Sector Workers are Growing in Numbers are soaring. There is seasonal variability within each super sector, sector, category, and sub-category. What is happening with the physician segment of the market? That will have to wait for another column.
It's the economy.