Monthly Economic Report: December 2013

Posted by Paladin on December 19, 2013

A summary of the BLS Report for the Professional and business services industry.
Based on November 2013 Data.

After the release of the BLS’ “The Employment Situation – October 2013” report, most economists were unsure of what to expect as they prepared to publish their employment forecasts around November’s job creation statistics.

October added 204,000 new jobs to the economy –-a much better than expected number– but there was a slight uptick in the unemployment rate and the unanswered question of how the government shutdown would come through in the jobless numbers still remained.

Many economists expected positive growth, predicting the nation’s jobless rate would decline slightly in November with roughly 180,000 new jobs added. But, in spite of the positive outlook, their projections were actually not high enough.

December 2013 Jobs Report

According to the BLS’ “The Employment Situation – November 2013” report, 203,000 new jobs were created last month, the second consecutive month in which more than 200,000 jobs were generated. Total employment also increased, and unemployment declined leading to a reduction in the nation’s jobless rate. Measured at seven percent, November’s unemployment rate was the lowest in five years.

Without question, the nation’s economic recovery is steadily occurring. Since August, 204,000 new jobs have been generated each month, on average. To compare, an average of 159,000 jobs were created per month from April to July. And, since January, nearly 2.1 million new jobs have been added to the economy, leading many economists to believe similar job growth trends will be observed during the first quarter of 2014.

unemployment rate November 2013

As a new year approaches, private sector hiring remains robust

Since the recession, the nation’s private sector has reported employment gains for 45 consecutive months.

Industry Insights

Facebook Starts Testing Video Advertisements in News Feed
Source: Bloomberg  | By: By Terje Langeland and Sarah Frier

Facebook Inc. (FB) is testing video advertisements that automatically play in users’ news feeds, seeking to catch up with other websites offering short commercials online.
The first promotions are starting to run this week, the company said in a statement today. One of the first clips will be a trailer for the Lions Gate Entertainment Corp. (LGF) film “Divergent,” video posted on Facebook’s website shows.

The world’s largest social-networking service plans to offer 15-second spots, two people familiar with the plans said in July. While the company already allows advertisers to upload videos to their Facebook page and then broadcast them to a user’s news feed, the new service would let marketers buy their way directly into a person’s feed, according to the people.

“Facebook is focusing on trying to get parity with what other websites offer,” said Nate Elliott, an analyst at Forrester Research Inc. in Cambridge, Massachusetts. “If we’re just talking about 15-second auto-start video ads, YouTube has been offering them for five years now. Yahoo has been offering them for a decade.”

The move follows efforts by Facebook’s rivals to capture ad dollars that have traditionally gone to TV networks. Google Inc. (GOOG) began funding original content channels on its YouTube video-sharing website in recent years, giving it a more curated venue for commercials. Read more.

How Will Brands Use Facebook’s Video Ads?
Freshwire Founder and CEO Shawn Amos discusses Facebook’s video ads with Emily Chang on Bloomberg Television’s “Bloomberg West.” Watch video.

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