Dec jobless rates down over the year in 236 of 387 metro areas; Productivity rises 1.3% in 4th qtr.

[mahatmakanejeeves]

Dec jobless rates down over the year in 236 of 387 metro areas; payroll jobs up in 292

Economic News Release USDL-17-0139

Metropolitan Area Employment and Unemployment Summary

For release 10:00 a.m. (EST) Wednesday, February 1, 2017

Technical information:
Employment: [phone] * [e-mail] * www.bls.gov/sae
Unemployment: [phone] * [e-mail] * www.bls.gov/lau

Media contact: [phone] * [e-mail]


METROPOLITAN AREA EMPLOYMENT AND UNEMPLOYMENT -- DECEMBER 2016


Unemployment rates were lower in December than a year earlier in 236 of the 387 metropolitan areas, higher in 111 areas, and unchanged in 40 areas, the U.S. Bureau of Labor Statistics reported today. Twenty-seven areas had jobless rates of less than 3.0 percent and five areas had rates of at least 10.0 percent. Nonfarm payroll employment increased over the year in 292 metropolitan areas, decreased in 87 areas, and was unchanged in 8 areas. The national unemployment rate in December was 4.5 percent, not seasonally adjusted, down from 4.8 percent a year earlier.

_____________
The Regional and State Unemployment 2016 Annual Averages news release is scheduled to be released on Tuesday, February 28, 2017, at 10:00 a.m. (EST). The State Employment and Unemployment news release for January 2017 is scheduled to be released on Monday, March 13, 2017, at 10:00 a.m. (EDT). The Metropolitan Area Employment and Unemployment news release for January 2017 is scheduled to be released on Friday, March 17, 2017, at 10:00 a.m. (EDT).

Productivity rises 1.3% in 4th quarter 2016 (annual rate); unit labor costs rise 1.7%

Economic News Release USDL 17-0140

Productivity and Costs, Fourth Quarter and Annual Averages 2016, Preliminary



Transmission of material in this release is embargoed until 8:30 a.m. (EST) Thursday, February 2, 2017

Technical information: [phone] [e-mail] www.bls.gov/lpc
Media contact: [phone] [e-mail]




PRODUCTIVITY AND COSTS
Fourth Quarter and Annual Averages 2016, Preliminary

Nonfarm business sector labor productivity increased at a 1.3-percent annual rate during the fourth quarter of 2016, the U.S. Bureau of Labor Statistics reported today, as output increased 2.2 percent and hours worked increased 0.9 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the fourth quarter of 2015 to the fourth quarter of 2016, productivity increased 1.0 percent, reflecting increases in output and hours worked of 2.2 percent and 1.1 percent, respectively. (See table A1.) Annual average productivity increased 0.2 percent from 2015 to 2016. (See table C1.)

Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers.

Unit labor costs in the nonfarm business sector increased 1.7 percent in the fourth quarter of 2016, reflecting a 3.0-percent increase in hourly compensation and a 1.3-percent increase in productivity. Unit labor costs increased 1.9 percent over the last four quarters. (See tables A1 and 2.)

BLS calculates unit labor costs as the ratio of hourly compensation to labor productivity. Increases in hourly compensation tend to increase unit labor costs, and increases in output per hour tend to reduce them.

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[Fred Sanders]

1. Thanks, Obama. The remarkable turnaround under his watch continues....but for how long now?