Here is the August 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate fell to 7.3%. Non-farm employers added 169,000 new jobs.
- The number of unemployed persons decreased from 11.5 million in July to 11.3 million in August.
- The civilian labor force participation rate decreased slightly from 63.4% in July to 63.2% in August. This is a sharp increase, and the chief contributor to the unemployment rate's decrease even with only 169k jobs created. It is also the lowest rate for civilian labor force participation since August, 1978.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased from 89,957,000 in July to 90,473,000... an increase of 516,000.
- The civilian labor force dropped from 155,798,000 to 155,486,000, which is a massive drop of 312,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) fell from 8,200,000 in July to 7,900,000 in August.
- Average hourly earnings decreased by 5 cents. The 12-month average for hourly earnings have risen at a 2.2% yearly rate.
- June's jobs created numbers were revised downward from 188,000 to 172,000, while July's jobs created numbers were revised downward from 162,000 to 104,000. This is a total shortage of 74,000 jobs relative to what was reported.
My quick take:
And this is going to be quick:
"Oh my!" This is bad. What positive notion can one take from these numbers? If the only plus side to these numbers is, "well, at least they didn't decline..." this is a bad jobs report. The unemployment rate when down, sure, but that's solely because people simply gave up for work... which is a trend we've seen under President Obama. Additionally, and this is truly sad, the jobs numbers for the previous two months were revised downward, with July's numbers coming in at a measly 104,000 jobs added. This is below the number needed to simply keep up with population growth.
All in all, this is about as bad as it gets for a jobs report that still has some job growth in it. I'm dying to hear the media's spin.
Showing posts with label Jobs Report. Show all posts
Showing posts with label Jobs Report. Show all posts
Friday, September 6, 2013
Friday, August 2, 2013
The July 2013 Jobs Report
Here is the July 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate fell to 7.4%. Non-farm employers added 162,000 new jobs.
- The number of unemployed persons decreases from 11.8 million in June to 11.5 million in July.
- The civilian labor force participation rate decreased slightly from 63.5% in June to 63.4% in July.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased from 89,717,000 in June to 89,957,000 in July, a decrease of 240,000.
- The civilian labor force dropped from 155,835,000 to 155,798,000, or 37,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat a 8,200,000 in July.
- Average hourly earnings decreased by 2 cents. The 12-month average for hourly earnings have risen at a 1.9% yearly rate.
- May's jobs created numbers were revised downward from 195,000 to 176,000, while June's jobs created numbers were revised downward from 195,000 to 188,000.
My quick take:
This is relatively disastrous. Most economists predicted a "strong" jobs report with employers expanding their payrolls by between 180,000 - 200,000 workers. Not only did this fall 11% - 23% below expectations, but wages fell, and the number of people who stopped looking for work rose again. The total civilian labor force participation rate decrease to 63.4%, a number that represents the unemployment situation of 1979. On top of that, wages fell, and the number of jobs created for the previous two months were revised downward by about 26,000.
What will the media say? Naturally, they will tout that the unemployment rate fell to 7.4%. But when we look at the data in the report itself, is there really anything at all to cheer about? I've stated this many times; we need 150,000 new jobs per month in job growth just to account for new employees entering the workforce. 162,000 jobs simply doesn't cut it. We also need 350,000 - 400,000 new jobs created, month over month, mind you, to bring the rate down to an acceptable level (< 6.0%) within the next 3 years.
In short, this jobs report is heartbreaking. It's low-level mediocrity at its best. There is very little in this report with respect to positive news, and if the "positive" news broadcast by the media is something like, "well, at least we didn't lose jobs" or "the rate fell to 7.4%%" without giving the full context of the report, frankly, that's pathetic... just like this "recovery."
Key Highlights:
- The unemployment rate fell to 7.4%. Non-farm employers added 162,000 new jobs.
- The number of unemployed persons decreases from 11.8 million in June to 11.5 million in July.
- The civilian labor force participation rate decreased slightly from 63.5% in June to 63.4% in July.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased from 89,717,000 in June to 89,957,000 in July, a decrease of 240,000.
- The civilian labor force dropped from 155,835,000 to 155,798,000, or 37,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat a 8,200,000 in July.
- Average hourly earnings decreased by 2 cents. The 12-month average for hourly earnings have risen at a 1.9% yearly rate.
- May's jobs created numbers were revised downward from 195,000 to 176,000, while June's jobs created numbers were revised downward from 195,000 to 188,000.
My quick take:
This is relatively disastrous. Most economists predicted a "strong" jobs report with employers expanding their payrolls by between 180,000 - 200,000 workers. Not only did this fall 11% - 23% below expectations, but wages fell, and the number of people who stopped looking for work rose again. The total civilian labor force participation rate decrease to 63.4%, a number that represents the unemployment situation of 1979. On top of that, wages fell, and the number of jobs created for the previous two months were revised downward by about 26,000.
What will the media say? Naturally, they will tout that the unemployment rate fell to 7.4%. But when we look at the data in the report itself, is there really anything at all to cheer about? I've stated this many times; we need 150,000 new jobs per month in job growth just to account for new employees entering the workforce. 162,000 jobs simply doesn't cut it. We also need 350,000 - 400,000 new jobs created, month over month, mind you, to bring the rate down to an acceptable level (< 6.0%) within the next 3 years.
In short, this jobs report is heartbreaking. It's low-level mediocrity at its best. There is very little in this report with respect to positive news, and if the "positive" news broadcast by the media is something like, "well, at least we didn't lose jobs" or "the rate fell to 7.4%%" without giving the full context of the report, frankly, that's pathetic... just like this "recovery."
Friday, July 5, 2013
The June 2013 Jobs Report
Here is the June 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment remained unchanged at 7.6%. Non-farm employers added 195,000 new jobs.
- The number of unemployed persons remained unchanged at 11.8 million in June.
- The civilian labor force participation rate increased slightly from 63.4% in May to 63.5% in June.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased slightly from 89,705,000 in May to 89,717,000 in June.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat at increased by 322,000 from 7,900,000 in May to 8,200,000 in June.
- Average hourly earnings rose by 10 cents. The 12-month average for hourly earnings have risen at a 2.2% yearly rate.
- April's jobs created numbers were revised from 149,000 to 199,000, while May's jobs created numbers were revised upward from 175,000 to 195,000.
My quick take:
Overall, this is a decent jobs report, though nothing to sound the trumpets over. In my opinion, the best news from this is the revision of April's and May's jobs numbers. They both inched closer to the 200k new jobs per month number. While an improvement, these barely account for the population addition our country experiences every month. We need steady job growth of around 300-350k jobs per month, steadily, to bring the unemployment rate down significantly. The biggest negative, in my opinion, is the increase in persons employed for part-time reasons. This jumped heavily, and can only be looked at in a negative way. The summer employment period marks when new graduates hit the job market, and if the majority of jobs being taken are in the part-time job sectors, this isn't good news for many. Overall, this isn't a terrible jobs report, but it certainly isn't spectacular.
What's your take? Please share your thoughts below.
Key Highlights:
- The unemployment remained unchanged at 7.6%. Non-farm employers added 195,000 new jobs.
- The number of unemployed persons remained unchanged at 11.8 million in June.
- The civilian labor force participation rate increased slightly from 63.4% in May to 63.5% in June.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased slightly from 89,705,000 in May to 89,717,000 in June.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat at increased by 322,000 from 7,900,000 in May to 8,200,000 in June.
- Average hourly earnings rose by 10 cents. The 12-month average for hourly earnings have risen at a 2.2% yearly rate.
- April's jobs created numbers were revised from 149,000 to 199,000, while May's jobs created numbers were revised upward from 175,000 to 195,000.
My quick take:
Overall, this is a decent jobs report, though nothing to sound the trumpets over. In my opinion, the best news from this is the revision of April's and May's jobs numbers. They both inched closer to the 200k new jobs per month number. While an improvement, these barely account for the population addition our country experiences every month. We need steady job growth of around 300-350k jobs per month, steadily, to bring the unemployment rate down significantly. The biggest negative, in my opinion, is the increase in persons employed for part-time reasons. This jumped heavily, and can only be looked at in a negative way. The summer employment period marks when new graduates hit the job market, and if the majority of jobs being taken are in the part-time job sectors, this isn't good news for many. Overall, this isn't a terrible jobs report, but it certainly isn't spectacular.
What's your take? Please share your thoughts below.
Friday, June 7, 2013
The May 2013 Jobs Report
Here is the May 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate increased slightly to 7.6%. Non-farm employers added 175,000 new jobs.
- The number of unemployed persons remained increased from 11.7 million in April to 11.8 million in May.
- The civilian labor force participation rate increased slightly to 63.4%.
- The "not in labor force" count (those who have no job and have stopped looking for work) decreased modestly from 89,936,000 in April to 89,705,000 in May.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat at 7,900,000.
- Average hourly earnings rose by 1 cent. The 12-month average for hourly earnings have risen at a 2.0% yearly rate.
- March's jobs created numbers were revised from 138,000 to 142,000, while April's jobs created numbers were revised downward from 165,000 to 149,000.
While most of my analysis of previous jobs reports has been lengthy, to me, the best way to sum up May's report is: more of the same. We're puttering along, a lot of people are left out of the job market (though yes, some have came back into it), and many people are taking small, part-time jobs to make ends meet. We need robust, continuous hiring of around 300-350k jobs per month for the next 3 years to bring the unemployment rate down to 6%. We are nowhere close to this, but the media will make reports like this and subsequent similar reports to come out to be great news of a "recovery." Sadly, we really haven't experienced any such thing.
What do you think? Please share your thoughts below.
Key Highlights:
- The unemployment rate increased slightly to 7.6%. Non-farm employers added 175,000 new jobs.
- The number of unemployed persons remained increased from 11.7 million in April to 11.8 million in May.
- The civilian labor force participation rate increased slightly to 63.4%.
- The "not in labor force" count (those who have no job and have stopped looking for work) decreased modestly from 89,936,000 in April to 89,705,000 in May.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained flat at 7,900,000.
- Average hourly earnings rose by 1 cent. The 12-month average for hourly earnings have risen at a 2.0% yearly rate.
- March's jobs created numbers were revised from 138,000 to 142,000, while April's jobs created numbers were revised downward from 165,000 to 149,000.
While most of my analysis of previous jobs reports has been lengthy, to me, the best way to sum up May's report is: more of the same. We're puttering along, a lot of people are left out of the job market (though yes, some have came back into it), and many people are taking small, part-time jobs to make ends meet. We need robust, continuous hiring of around 300-350k jobs per month for the next 3 years to bring the unemployment rate down to 6%. We are nowhere close to this, but the media will make reports like this and subsequent similar reports to come out to be great news of a "recovery." Sadly, we really haven't experienced any such thing.
What do you think? Please share your thoughts below.
Friday, May 3, 2013
The April 2013 Jobs Report
Here is the April 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate dropped to 7.5%. Non-farm employers added 165,000 new jobs, beating analysts' predictions.
- The number of unemployed persons remained unchanged at 11.7 million in April.
- The civilian labor force participation rate remained unchanged at 63.3%. In spite of the better-than-expected jobs numbers, this figure is concerning.
- The "not in labor force" count (those who have no job and have stopped looking for work) decrease modestly from 89,967,000 in March to 89,936,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) increased by 278,000 to 7,900,000.
- Average hourly earnings rose by 4 cent. The 12-month average for hourly earnings have risen at a 1.9% yearly rate.
The good:
The unemployment rate fell and 165,000 jobs were added, beating analysts' predictions. This is the first time in a while that a decrease in the unemployment rate was not a result of people giving up looking for work and leaving the labor force. Additionally, February's and March's numbers were revised upward to 332,000 and 138,000, respectively. These are good signs.
The bad:
The labor force participation rate remains high. This number needs to increase... it's just that simple. Also, the part-time labor force increased, and that's undesirable. The economy needs to add full-time jobs, not part-time ones, or ones that people are taking simply because they can't find work elsewhere. This, coupled with the decrease in work hours, could be a sign that employers of low-wage workers are making shifts in hiring and employee retention with the upcoming health care bill kicking in full swing next year. Additionally, the economy needs to add 150,000 jobs per month to simply keep up with population growth. While 165,000 beats that number, it's not enough to consider this an expansion. This is slow job growth. It's mediocre or bare minimum at best. We might not be slipping into another recession, but we surely not pulling out of one quickly.
The ugly:
My prediction might seem redundant, but the press will champion this. Get ready for the tidal wave of fawning coming from the press claiming how wonderful it is. Live I've said, the numbers are decent... they certainly aren't terrible, but they're nothing to write home about, either.
What do YOU think? Please share your thoughts below.
Key Highlights:
- The unemployment rate dropped to 7.5%. Non-farm employers added 165,000 new jobs, beating analysts' predictions.
- The number of unemployed persons remained unchanged at 11.7 million in April.
- The civilian labor force participation rate remained unchanged at 63.3%. In spite of the better-than-expected jobs numbers, this figure is concerning.
- The "not in labor force" count (those who have no job and have stopped looking for work) decrease modestly from 89,967,000 in March to 89,936,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) increased by 278,000 to 7,900,000.
- Average hourly earnings rose by 4 cent. The 12-month average for hourly earnings have risen at a 1.9% yearly rate.
The good:
The unemployment rate fell and 165,000 jobs were added, beating analysts' predictions. This is the first time in a while that a decrease in the unemployment rate was not a result of people giving up looking for work and leaving the labor force. Additionally, February's and March's numbers were revised upward to 332,000 and 138,000, respectively. These are good signs.
The bad:
The labor force participation rate remains high. This number needs to increase... it's just that simple. Also, the part-time labor force increased, and that's undesirable. The economy needs to add full-time jobs, not part-time ones, or ones that people are taking simply because they can't find work elsewhere. This, coupled with the decrease in work hours, could be a sign that employers of low-wage workers are making shifts in hiring and employee retention with the upcoming health care bill kicking in full swing next year. Additionally, the economy needs to add 150,000 jobs per month to simply keep up with population growth. While 165,000 beats that number, it's not enough to consider this an expansion. This is slow job growth. It's mediocre or bare minimum at best. We might not be slipping into another recession, but we surely not pulling out of one quickly.
The ugly:
My prediction might seem redundant, but the press will champion this. Get ready for the tidal wave of fawning coming from the press claiming how wonderful it is. Live I've said, the numbers are decent... they certainly aren't terrible, but they're nothing to write home about, either.
What do YOU think? Please share your thoughts below.
Friday, April 5, 2013
The March 2013 Jobs Report
Here is the March 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate dropped to 7.6%. Non-farm employers added 88,000 new jobs, falling well short of analysts' predictions.
- The number of unemployed persons edged downward to 11.7 million in March from 12 million in February.
- The civilian labor force participation rate dropped to 63.3% form 63.5% in February. This is the lowest level of labor force participation this country has seen since May 1979.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 663,000 from 89,304,000 in February to 89,967,000 in March.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) fell by 350,000 to 7,600,000.
- Average hourly earnings rose by 1 cent. The 12-month average for hourly earnings have risen at a 1.8% yearly rate.
Key Highlights:
- The unemployment rate dropped to 7.6%. Non-farm employers added 88,000 new jobs, falling well short of analysts' predictions.
- The number of unemployed persons edged downward to 11.7 million in March from 12 million in February.
- The civilian labor force participation rate dropped to 63.3% form 63.5% in February. This is the lowest level of labor force participation this country has seen since May 1979.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 663,000 from 89,304,000 in February to 89,967,000 in March.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) fell by 350,000 to 7,600,000.
- Average hourly earnings rose by 1 cent. The 12-month average for hourly earnings have risen at a 1.8% yearly rate.
- The change in total non-farm payroll employment for January was revised upward from +119,000 to +148,000, and the change for February was revised downward from +236,000 to +268,000.
So what do I think? Ummm, can you say déja vu? This is a disaster! The unemployment rate is now 7.6%, something the democrats will probably brag about, but the key facet that will get overlooked: nearly 500,000 people stopped looking for work! This is tragic. These people, who are no longer counted in the unemployment rate, simply gave up. Since they're not trying to find work anymore, they're not counted in the unemployment rate, and this gives the UE rate an artificially low reading. This becomes apparent when we look at the civilian labor force participation rate... which is now at its lowest level since May, 1979. Moreover, the employment-to-population ratio is 58.5%. How can a country continue when nearly half the population isn't producing?
Sadly, the media will trumpet this 7.6% rate as a victory. It's not. It's a tragedy. Millions of people are giving up looking for work, and the poverty level in this country is at its highest level since 1960. And all this has happened BEFORE Obamacare has kicked in. The CBO estimates the ACA will cost 850,000 jobs over the next 10 years.
It's clear: the government is not helping... it's hurting. Obama's policies are not a boon to employment; they're a destroyer of it. But hey... when you're unemployed and destitute, you turn to the government for support... and when one party of the government promises to "help" and "take care of you"... when it comes time to vote, you won't bite the hand that feeds you. This is the way of the democratic party.
What do you think? Share your thoughts below.
So what do I think? Ummm, can you say déja vu? This is a disaster! The unemployment rate is now 7.6%, something the democrats will probably brag about, but the key facet that will get overlooked: nearly 500,000 people stopped looking for work! This is tragic. These people, who are no longer counted in the unemployment rate, simply gave up. Since they're not trying to find work anymore, they're not counted in the unemployment rate, and this gives the UE rate an artificially low reading. This becomes apparent when we look at the civilian labor force participation rate... which is now at its lowest level since May, 1979. Moreover, the employment-to-population ratio is 58.5%. How can a country continue when nearly half the population isn't producing?
Sadly, the media will trumpet this 7.6% rate as a victory. It's not. It's a tragedy. Millions of people are giving up looking for work, and the poverty level in this country is at its highest level since 1960. And all this has happened BEFORE Obamacare has kicked in. The CBO estimates the ACA will cost 850,000 jobs over the next 10 years.
It's clear: the government is not helping... it's hurting. Obama's policies are not a boon to employment; they're a destroyer of it. But hey... when you're unemployed and destitute, you turn to the government for support... and when one party of the government promises to "help" and "take care of you"... when it comes time to vote, you won't bite the hand that feeds you. This is the way of the democratic party.
What do you think? Share your thoughts below.
Friday, March 8, 2013
The February 2013 Jobs Report
Here is the February 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate dropped to a new, four-year low of 7.7%. Non-farm employers added 236,000 new jobs, beating analysts' predictions.
- The number of unemployed persons edged downward to 12 million in February.
- The civilian labor force participation rate dropped to 63.5% form 63.6% in January.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 296,000 from 89,008,000 in January to 89,304,000 in February.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) rose by 15,000 to 7,988,000.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
Key Highlights:
- The unemployment rate dropped to a new, four-year low of 7.7%. Non-farm employers added 236,000 new jobs, beating analysts' predictions.
- The number of unemployed persons edged downward to 12 million in February.
- The civilian labor force participation rate dropped to 63.5% form 63.6% in January.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 296,000 from 89,008,000 in January to 89,304,000 in February.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) rose by 15,000 to 7,988,000.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
- The change in total non-farm payroll employment for December was revised upward from +196,000 to +219,000, and the change for January was revised downward from +157,000 to +119,000.
What's your take on these figures? To me, the number of new jobs added is a slight plus, but it is overridden by the decrease in the civilian population force (-130,000) and the not-in-labor-force number (+296,000). It appears, again, that many people simply gave up looking for work, and the new jobs created (when coupled with January for an average of 177,000) is barely enough to keep up with the growth in population. I'm sure the media will LOVE this report, but when you look at it, it's not all peaches.
What's your take on these figures? To me, the number of new jobs added is a slight plus, but it is overridden by the decrease in the civilian population force (-130,000) and the not-in-labor-force number (+296,000). It appears, again, that many people simply gave up looking for work, and the new jobs created (when coupled with January for an average of 177,000) is barely enough to keep up with the growth in population. I'm sure the media will LOVE this report, but when you look at it, it's not all peaches.
Friday, January 4, 2013
The December 2012 Jobs Report
Here is the December 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate remained flat at 7.8%*. Non-farm employers added 155,000 new jobs.
- The number of unemployed persons rose slightly to 12.2 million from 12 million in November.
- The civilian labor force participation rate remained unchanged at 63.6%. This number matches the all-time low rate observed in 1981 and September of this year.
- The "not in labor force" count (those who have no job and have stopped looking for work) decreased by 16,000 from 88,855,000 in November to 88,839,000 in December.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) dropped to 7.9 million in December from 8.2 million in November.
- Average hourly earnings rose by 7 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
Key Highlights:
- The unemployment rate remained flat at 7.8%*. Non-farm employers added 155,000 new jobs.
- The number of unemployed persons rose slightly to 12.2 million from 12 million in November.
- The civilian labor force participation rate remained unchanged at 63.6%. This number matches the all-time low rate observed in 1981 and September of this year.
- The "not in labor force" count (those who have no job and have stopped looking for work) decreased by 16,000 from 88,855,000 in November to 88,839,000 in December.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) dropped to 7.9 million in December from 8.2 million in November.
- Average hourly earnings rose by 7 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
- The change in total non-farm payroll employment for October was revised from +138,000 to +137,000, and the change for November was revised from +146,000 to +161,000.
* The original unemployment rate reported for November was 7.7%, but this was revised upward to 7.8% in this most recent report.
* The original unemployment rate reported for November was 7.7%, but this was revised upward to 7.8% in this most recent report.
Friday, December 7, 2012
The November 2012 Jobs Report
Here is the November 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate declined to 7.7%. Non-farm employers added 146,000 new jobs.
- The number of unemployed persons remained relatively flat at 12 million.
- The civilian labor force participation rate also decreased to 63.6% from 63.8% in October. This number matches the all-time low rate observed in 1981 and September of this year.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased 542,000 from 88,341,000 to 88,883,000. This is the highest level it has been in a while.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained relatively flat at 8.2 million in November.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 1.7% yearly rate.
Key Highlights:
- The unemployment rate declined to 7.7%. Non-farm employers added 146,000 new jobs.
- The number of unemployed persons remained relatively flat at 12 million.
- The civilian labor force participation rate also decreased to 63.6% from 63.8% in October. This number matches the all-time low rate observed in 1981 and September of this year.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased 542,000 from 88,341,000 to 88,883,000. This is the highest level it has been in a while.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) remained relatively flat at 8.2 million in November.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 1.7% yearly rate.
- The change in total non-farm payroll employment for September was revised from +148,000 to +132,000, and the change for October was revised from +171,000 to +138,000.
Friday, November 2, 2012
The October 2012 Jobs Report
Here is the October 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
My analysis is at the bottom.
Key Highlights:
- The unemployment rate rose to 7.9%. Non-farm employers added 171,000 new jobs.
- The number of unemployed persons remained flat at 12.3 million.
- The civilian labor force participation rate also increased to 63.8% from 63.6% in September.
- The "not in labor force" count (those who have no job and have stopped looking for work) fell 369,000 from 88,710,000 to 88,341,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) fell by 269,000 from 8.6 million in September to 8.3 million in October.
- Average hourly earnings dropped by one cent. The 12-month average for hourly earnings have risen at a 1.6% yearly rate.
My analysis is at the bottom.
Key Highlights:
- The unemployment rate rose to 7.9%. Non-farm employers added 171,000 new jobs.
- The number of unemployed persons remained flat at 12.3 million.
- The civilian labor force participation rate also increased to 63.8% from 63.6% in September.
- The "not in labor force" count (those who have no job and have stopped looking for work) fell 369,000 from 88,710,000 to 88,341,000.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) fell by 269,000 from 8.6 million in September to 8.3 million in October.
- Average hourly earnings dropped by one cent. The 12-month average for hourly earnings have risen at a 1.6% yearly rate.
Friday, October 5, 2012
The September 2012 Jobs Report - UPDATED
Here is the September 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate fell to 7.8%. Non-farm employers added only 114,000 new jobs. In spite of the low number of new jobs, the unemployed rate dropped because of the revisions to July's and August's numbers. July's total jobs added figure was adjusted upward from 141,000 to 181,000 while August's total jobs added figure was adjusted from 96,000 to 142,000. For these two revisions, added 86,000 new jobs to the numbers.
Key Highlights:
- The unemployment rate fell to 7.8%. Non-farm employers added only 114,000 new jobs. In spite of the low number of new jobs, the unemployed rate dropped because of the revisions to July's and August's numbers. July's total jobs added figure was adjusted upward from 141,000 to 181,000 while August's total jobs added figure was adjusted from 96,000 to 142,000. For these two revisions, added 86,000 new jobs to the numbers.
Friday, September 7, 2012
The August 2012 Jobs Report
Here is the August 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate fell to 8.1%. Non-farm employers added only 96,000 new jobs. 141,000 jobs were added in July. This was revised downward from 163,000 jobs created in the July report. The June jobs report was also revised downward. The original report claimed 64,000 jobs were created; the number dropped to 45,000 new jobs. For 2012, the economy has averaged about 139,000 new jobs per month. In 2011, the economy added 153,000 jobs per month.
- The number of unemployed persons fell to 12.5 million.
- The civilian labor force participation rate also dropped to 63.5% from 63.7% in July.
- The "Not in labor force" (those who have no job and have stopped looking for work) jumped 581,000 from 88,340,000 to 88,921,000.
Share your thoughts, feelings, and analysis below.
Key Highlights:
- The unemployment rate fell to 8.1%. Non-farm employers added only 96,000 new jobs. 141,000 jobs were added in July. This was revised downward from 163,000 jobs created in the July report. The June jobs report was also revised downward. The original report claimed 64,000 jobs were created; the number dropped to 45,000 new jobs. For 2012, the economy has averaged about 139,000 new jobs per month. In 2011, the economy added 153,000 jobs per month.
- The number of unemployed persons fell to 12.5 million.
- The civilian labor force participation rate also dropped to 63.5% from 63.7% in July.
- The "Not in labor force" (those who have no job and have stopped looking for work) jumped 581,000 from 88,340,000 to 88,921,000.
Share your thoughts, feelings, and analysis below.
Friday, August 3, 2012
The July 2012 Jobs Report
Here is the July 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate rose to 8.3%. Non-farm employers added only 163,000 new jobs. 80,000 jobs were added in June. For 2012, the economy has averaged about 151,000 new jobs per month. Through the same time period in 2011, 153,000 new jobs per month were added.
- The number of unemployed persons rose to 12.8 million.
- The civilian labor force participation rate also dropped to 63.7%.
Share your thoughts, feelings, and analysis below.
Key Highlights:
- The unemployment rate rose to 8.3%. Non-farm employers added only 163,000 new jobs. 80,000 jobs were added in June. For 2012, the economy has averaged about 151,000 new jobs per month. Through the same time period in 2011, 153,000 new jobs per month were added.
- The number of unemployed persons rose to 12.8 million.
- The civilian labor force participation rate also dropped to 63.7%.
Share your thoughts, feelings, and analysis below.
Friday, July 6, 2012
The June 2012 Jobs Report
Here is the June 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate remained unchanged at 8.2%. Non-farm employers added only 80,000 new jobs. 77,000 (revised) jobs were added in May. Employment gains averaged 226,000 from January through March.
- The number of unemployed persons remained unchanged at 12.7 million.
- The civilian labor force participation rate also remained flat at 63.8%.
Share your thoughts, feelings, and analysis below.
Key Highlights:
- The unemployment rate remained unchanged at 8.2%. Non-farm employers added only 80,000 new jobs. 77,000 (revised) jobs were added in May. Employment gains averaged 226,000 from January through March.
- The number of unemployed persons remained unchanged at 12.7 million.
- The civilian labor force participation rate also remained flat at 63.8%.
Share your thoughts, feelings, and analysis below.
Friday, June 1, 2012
The May 2012 Jobs Report
Here is the May 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate increased to 8.2%. Non-farm employers added only 69,000 new jobs. 77,000 jobs were added in April. Employment gains averaged 226,000 from January through March.
- The number of unemployed persons increased from 12.5 million to 12.7 million.
- The civilian labor force participation rate increased to 63.8% from 63.6% in May as 461,000 people returned to the workforce. This is an improvement from the 551,000 discouraged workers that left the workforce in April.
- The seasonally adjusted unemployment rate increased to 14.8% if you include those who were looking for work but dropped out and are no longer counted in the labor force.
Share your thoughts, feelings, and analysis below.
Key Highlights:
- The unemployment rate increased to 8.2%. Non-farm employers added only 69,000 new jobs. 77,000 jobs were added in April. Employment gains averaged 226,000 from January through March.
- The number of unemployed persons increased from 12.5 million to 12.7 million.
- The civilian labor force participation rate increased to 63.8% from 63.6% in May as 461,000 people returned to the workforce. This is an improvement from the 551,000 discouraged workers that left the workforce in April.
- The seasonally adjusted unemployment rate increased to 14.8% if you include those who were looking for work but dropped out and are no longer counted in the labor force.
Share your thoughts, feelings, and analysis below.
Friday, May 4, 2012
The April 2012 Jobs Report
Here is the April 2012 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate fell to 8.1% though private, non-farm employers added only 115,000 new jobs. 154,000 jobs were added in March. Employment gains averaged 252,000 from December through February.
- The number of unemployed persons remained steady at 12.5 million.
- The civilian labor force participation rate dropped to 63.6% from 63.8% as 522,000 people left the workforce all together in March.
- The unemployment rate is 14.5% if you include those who were looking for work but dropped out and are no longer counted in the labor force.
Share your thoughts, feelings, and analysis below.
Key Highlights:
- The unemployment rate fell to 8.1% though private, non-farm employers added only 115,000 new jobs. 154,000 jobs were added in March. Employment gains averaged 252,000 from December through February.
- The number of unemployed persons remained steady at 12.5 million.
- The civilian labor force participation rate dropped to 63.6% from 63.8% as 522,000 people left the workforce all together in March.
- The unemployment rate is 14.5% if you include those who were looking for work but dropped out and are no longer counted in the labor force.
Share your thoughts, feelings, and analysis below.
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