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Global headcount reported in company financial filings rose 31 percent. Their headcount grew faster globally than overall employment in the United States, but it is unclear from corporate disclosures how much of the hiring took place outside the United States.
Information from individual companies suggests a lot of the new jobs were created overseas, especially given that in this period there was offshoring and outsourcing of work that was done previously in-house and in the U. There was also substantial growth in sales in foreign markets and a resulting expansion of operations overseas.
The data highlight a central question that officials in the Obama administration and at the U. The answer could have major implications for economic policy decisions, such as how long the Fed keeps interest rates at very low levels to stimulate jobs growth.
Is the country really changing in a fundamental way? That would mean a workforce based on large numbers of lower paid workers, with a few highly paid managers, professional and technology workers, and a permanent hollowing out of the middle class.
This would be a potential drag on overall purchasing power and economic growth. Several companies, such as energy investment company Energy Transfer Equity, were excluded because their records did not extend back far enough or were complicated by corporate maneuvers, such as breakups.
The resulting list of large companies covers a range of industries, from consumer giants Wal-Mart WMT. Nto old-line industrials such as Caterpillar CAT. N and General Motors GM. Google was included but its public records did not include employee headcount for and and it declined to provide data for those years.
The search company reported fulltime employment of 47, for The collective headcount of the fell in only one of the years included in the study, dropping 1. For example, betweenVerizon VZ. N continued reshaping itself from a provider of landline phones to focus on wireless telephony and network services.
Annual inflation-adjusted operating profit more than doubled while the workforce shrank more than 30 percent. N grew through the efficiencies of scale that came through a series of strategic acquisitions, as well as technology that, for example, has pushed up the amount of meat that a beef carcass yields.
Its operating profit increased an inflation-adjusted 20 percent between andand its revenue by an inflation-adjusted 14 percent. Yet, its headcount dropped 4. Though fast-growing technology companies led employment growth over the period, that may not be sustained as those firms get bigger.
Ofor example, has slowed after a year spell in which both companies boosted headcount roughly ten fold. That could be a problem in itself. That is not what they do. Much of this has been positive for the U. But this may only partially offset the impact on many families of a loss of higher-paid manufacturing and other jobs.
Some of the employment trends began many years ago but may not have been obvious because they were masked by changes in demographics.The Employment Projections program provides long- and short-term projections and includes information on projected new jobs by industry and occupation as well as replacement openings in the occupational data.
Full-time employment increased 42, to 8,, and part-time employment decreased 9, to 3,, Unemployment increased 4, to , The number of unemployed persons looking for full-time work decreased 5, to , and the number of unemployed persons only looking for part-time work increased 9, to , in the public sector according to Bureau of Labor Statistics data.
Within the private sector, education and health were the largest employers, accounting for about 13 percent of all jobs. Professional and business services provided about 12 percent of all jobs, followed by retail trade with 11 percent of jobs. The Bureau of Labor Statistics expects employment of radiologic technologists and technicians to increase by about 17 percent from to , which is .
Population Survey data collected by Bureau of Labor Statistics. High school dropouts (23%) are almost equally likely to be unemployed. According to the definition provided by the U.S. Census Bureau, someone is ―unemployed‖ if he or she is actively seeking but cannot secure employment.
Unformatted text preview: According to "Bureau of Labor Statistics" (), there were million separations in September. Separations can be anything from quits, layoffs, and discharge because of poor job performance, arriving late to work, and stealing from the business. million of the separations was due to layoffs, and discharge (Job Openings and Labor Turnover Summary).