US Employment Data for the Month of March
In March 2019, as per the Bureau of Labour Statistics, the total non-farm payroll employment grew by 196,000, however, the unemployment rate remains unchanged at 3.8%. The significant gains in jobs were observed in professional and technical services and health care.
The labour force status, including the unemployment by demographic characteristics were measured by the household survey data, whereas the establishment survey estimated non-farm employment, hours and earnings by industry.
As per the household survey data, the unemployment rates in March 2019 for adult men, adult women, teenagers, whites, blacks, Asians, and Hispanics stood at 3.6%, 3.3%, 12.8%, 3.4%, 6.7%, 3.1%, and 4.7%, respectively. In the period, the jobless claims (27 weeks or more) stood at 1.3 million (unchanged), which accounted for 21.1% of the unemployed.
As per the establishment survey data, in March 2019, the total non-farm payroll increased by 196,000. The major increase was experienced in professional and technical and health care services. Employment growth reduced from an average 223,000 per month in the year 2018 to an average 180,000 per month in Q1 of 2019. Additional 49,000 jobs in March and 398,000 jobs in the past 12 months were reported by the health care sector. The professional and technical services reported an increase in employment by 34,000 in March and 311,000 in the past 12 months.
As per Bureau of Labour Statistics, in the year 2016, non-agricultural employment (wage & salaries) contributed 92.9% to the total workforce, whereas non-agricultural self-employment stood at 5.7%, and agriculture, forestry and hunting stood at 1.5% of the entire workforce. The non-agricultural employment (wage & salaries) comprised:
- Goods-producing sectors such as mining, construction and manufacturing, which contributed 0.4%, 4.3%, and 7.9%, respectively to the total workforce.
- Services-providing excluding special industries contributed 81% to the entire workforce. It included sectors such as utilities, wholesale trade, retail trade, transportation and warehousing, information, financial activities, professional and business services, educational services, health care and social assistance, leisure and hospitality, other services, the federal government, state and local government.
As per the release, it is expected that by the year 2026, there will be an increase in the workforce contribution in sectors, such as professional and business services and health care and social assistance. Employment in professional and business services are expected to increase from 12.9% (2016) to 13.3% (2026) and jobs in health care and social assistance is expected to grow from 12.2% (2016) to 13.8% (2026).
Top three stocks under professional and business services in market capitalisation are Apple, Microsoft and Google. Under health care and social assistance, Johnson & Johnson, United Health Group and Pfizer Inc. are the topmost stocks in terms of the market capitalisation.
On Stock Information:
The stock of Apple Inc. (NASDAQ: AAPL) was trading at $197 on April 5, 2019, with a market capitalisation of ~$928.91 billion. Its PE multiple stood at 16.2x, and its EPS was reported at $12.16.
The stock of Microsoft Corporation (NASDAQ: MSFT) was trading at $119.89 on April 5, 2019, with a market capitalisation of ~$919.82 billion. Its PE multiple stood at 27.82x, and its EPS was reported at $4.31.
The stock of Alphabet Inc. Class A (NASDAQ: GOOGL) was trading at $1211.45 on April 5, 2019, with a market capitalisation of ~$842.18 billion. Its PE multiple stood at 27.72x, and its EPS was reported at $43.70.
The stock of Johnson & Johnson (NASDAQ: JNJ) was trading at $136.18 on April 5, 2019, with a market capitalisation of ~$362.61 billion. Its PE multiple stood at 24.27x, and its EPS was reported at $5.61.
The stock of UnitedHealth Group Incorporated (NASDAQ: UNH) was trading at $248.78 on April 5, 2019, with a market capitalisation of ~$238.71 billion. Its PE multiple stood at 20.41x, and its EPS was reported at $12.19.
The stock of Pfizer Inc. (NASDAQ: PFE) was trading at $42.99 on April 5, 2019, with a market capitalisation of ~$238.67 billion. Its PE multiple stood at 23.11x, and its EPS was reported at $1.86.
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