Home / Knowledge / News / Textiles / US economy added 2.65 mn jobs in 2015
US economy added 2.65 mn jobs in 2015
15
Jan '16
Exceeding expectations, the US economy added 2.65million jobs in 2015 while the unemployment rate remained steady at 5 per cent, the US Department of Labor has said in its last jobs report for the previous year.

As many as 292,000 jobs were added in December, the report said adding that job gains had averaged 284,000 a month in the last quarter of the year.The unemployment rate of 5 per cent was at a seven-and-a-half-year low for a third straight month.

Not only did the job creation in December surpass expectations, but the jobs figures from the previous two months were revised upwards significantly. November figures were revised from 211,000 to 252,000 and October's from 298,000 to 307,000. Additionally, the number of Americans working part-time but wanting full-time jobs went down by 764,000 in 2015, to six million, media reports citing the Labor Department said.

Overall, in 2015, average hourly earnings increased by 2.5 per cent. In order for low-income Americans to feel the impact of the US economic recovery, wage growth would have to reach 3 to 4 per cent a year.

The creation of more than 292,000 jobs in December was “an indication of a relatively strong labor market in 2015, especially compared with the Great Recession and the beginning of the recovery”, said Elise Gould, senior economist at the left-leaning Economic Policy Institute. She added that the US economy still had a “way to go before we reach full employment”.

But Federal Reserve chairperson, Janet Yellen, expects the US labour market to continue to improve in the coming year. She predicts that the US will reach full employment in 2016 or 2017. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.6%
No
13.4%
Skip
9.0%

Total Votes: 67

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.2%
No
28.4%
Skip
10.4%

Total Votes: 67

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.1%
No
10.4%
Skip
4.5%

Total Votes: 67

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.6%
No
11.9%
Skip
13.4%

Total Votes: 67


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search