Happy New Year to all you workers. We value your labor and wish you well in 2019.

According to the Bureau of Labor Statistics News Release on January 4, 2019.

Earnings

In December, average hourly earnings for all employees on private nonfarm payrolls rose 11 cents to $27.48. Over the year, average hourly earnings have increased by 84 cents, or 3.2 percent.

Employment

Total nonfarm payroll employment increased by 312,000 in December 2018. Job gains occurred in health care, food services and drinking places, construction, manufacturing, and retail trade.

Health Care

Employment in health care rose by 50,000 in December. 346,000 jobs were added in 2018, more than the gain of 284,000 jobs in 2017.

• Ambulatory health care services (+38,000)
• Hospitals (+7,000).

Food and Drink

Employment in food services and drinking places increased by 41,000 in December 2018 Over the year, the industry added 235,000 jobs, similar to the increase in 2017 (+261,000).

Construction

Construction employment rose by 38,000 in December 2018. 280,000 jobs were added in 2018, compared with 250,000 in 2017.

• Heavy and civil engineering construction (+16,000)
• Nonresidential specialty trade construction (+16,000).

Manufacturing

Manufacturing added 32,000 jobs in December. Most of the gain occurred in the durable goods component (+19,000), with job growth in fabricated metal products (+7,000) and in computer and electronic products (+4,000). Manufacturing employment increased by 284,000 over the year, with about three-fourths of the gain in durable goods industries. Manufacturing had added 207,000 jobs in 2017.

Retail

Employment in retail trade rose by 24,000. Retail trade employment increased by 92,000 in 2018, after little net change in 2017 (-29,000).

• General merchandise stores (+15,000)
• Automobile dealers (+6,000).
• Losses in sporting goods, hobby, book, and music stores (-9,000).

Professional and Business

Employment in professional and business services continued to trend up in December 2018:(+43,000). The industry added 583,000 jobs in 2018, outpacing the 458,000 jobs added

in 2017.

The Unchanged

Employment in other major industries, including mining, wholesale trade, transportation and warehousing, information, financial activities, and government, showed little change over the month of December 2018.

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References

US Bureau of Labor Statistics website

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