The BLS employment report shows a 7.8% unemployment rate for December. November was revised up from a 7.7% to 7.8% unemployment rate, but due to a change in the BLS annual seasonal adjustment revisions. This article overviews the statistics from the Current Population Survey of the employment report and the words to describe December are little change.
The BLS employment report shows the unemployment rate ticked down by 0.2 percentage points to 7.7%. The reason for the unemployment rate decrease is less people participated in the labor force in November. Superstorm Sandy had little effect on the monthly employment figures.
The BLS employment report shows the unemployment rate ticked up by 0.1 percentage points to 7.9%. The reason for this up-tick is more people participated in the labor force in October. We love economic eye candy at The Economic Populist and this overview graphs many of the statistics from the Current Population Survey of the employment report.
The July employment report is a little schizoid in that one employment survey showed a decline of 195,000 employed people while the other, the actual payrolls reported by businesses, showed an increase of 163,000 jobs. Below is the employment levels from the CPS survey.
The BLS released a longitude survey, which tracks the last of the pack of baby boomers and their jobs over 30 years. One the most damning findings is how many people middle aged are lasting in a job. When late baby boomers were in their 40's, a third of them had jobs which didn't last a year and almost 70% of 'em were out of a job in less than five years.
The June employment report was crappy and not enough jobs to keep up with population growth. This overview shows the situation is even worse than what is typically reported. Officially there are 12.75 million people unemployed and the unemployment rate is 8.2%.
April brings showers and yet another sad employment report. The new official unemployed tally is 12,500,000 with an unemployment rate of 8.1%. We calculate below an alternative unemployment rate of 16.62%, which shows 26.72 million people need a full-time, real job.
Pundits and press love to gush over the employment report the minute they see proof of life Yet, things are still not rosy. The new official unemployed tally is 12,806,000. The average length of unemployment is still very high, 40.0 weeks, even while dropping a 10th of a percentage point from last month.
While the pundits and press gush over this month's employment report, things are still not rosy. The new official unemployed tally is 12,758,000. The average length of unemployment is still very high, 40.1 weeks.
People unemployed for 27 weeks or more is now 42.2% of the total unemployed, or 5,518,000 million. This number has barely budged as a percentage of total unemployed in comparison to pre-recession and historical levels.
The October unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 46 months. While the average time being unemployed decreased -2.72% from last month, the length of unemployment is still at record highs.
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