As 2013 comes to a close and we look towards 2014, overall signs of changes to the employment marketplace indicate that there may be a better picture for workers in 2014. But, upon closer inspection, the results appear to be mixed.
A Mixed Bag
The BLS recently released its November employment figures and we saw the unemployment rate drop from 7.3% to 7.0%. Is this a good sign? At first glance, yes. However, a deeper dive into the November Bureau of Labor Statistics report shows that there are still some fundamental problems with the employment marketplace. Total non-farm payroll added 203,000 jobs in November and has been averaging 195,000 jobs per month in the prior 12 months. However, a moderate part of this increase came in transportation and warehousing, which includes truck transportation, warehousing, and storage, and air transportation. Retail trade employment also expanded in November, with a bump of 22,000 jobs. Seasonal? It appears so. We'll need to see what happens in early 2014 whether this is a longer term trend.