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Archive for the ‘Jobs’ Category
The U.S. Bureau of Labor Statistics reports today (October 5) that employers added 114,000 jobs in September with the unemployment rate decreasing to 7.8%. The drop in the unemployment rate .3% jobs number is better than than economists anticipated with the rate below 8% for the first time in nearly four years. Significantly, July and August jobs numbers were revised upward by 86,000 jobs (+40,000 in July and +46,000 in August). The number of unemployed Americans now stands at 12.1 million, the fewest since January 2009. It is the 31st straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force.
The U.S. Bureau of Labor Statistics reports today (June 1) that employers added 69,000 jobs in May with the unemployment rate “essentially unchanged at 8.2%. The jobs number is lower than than economists anticipated compared to an average increase of 225,000 the previous four months. March and April jobs numbers were revised downward by 49,000 jobs (-11,00 in March and -38,000 in April).
The unemployment rate edged back up to 8.2 percent in May from 8.1 percent in April and equals the March rate of 8.2 percent. A couple unique developments continue to impact the unemployment rate. First, baby boomers are retiring in significant numbers which lowers the number of active job seekers. Secondly, the accelerated wind-down of the wars in Iraq and Afghanistan are bringing thousands of troops home. One million military veterans will reenter the civilian employment market in the next five years.
May is now the 2nd month in a row in which the economy didn’t add at least 100,000 jobs or more. However, it is the 27th straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force.
The U.S. Bureau of Labor Statistics reports today (May 4) that employers added 115,000 jobs in April. The jobs number is lower than anticipated compared to an average increase of 225,000 the previous four months. However, employment for February and March was revised significantly upward by 53,000 additional jobs (February + 19,000, March +34,000).
The unemployment rate has fallen to 8.1 percent in April and is a full percentage point better from a recent high of 9.1 percent last August.
The job market was retracting heavily during the depths of the recession in 2008 and early 2009 with job losses of over 750,000 several months. Many economists believe that the real employment picture today is + 200,000 jobs per month – somewhere in between the December/ January highs and February/March lows. Hiring the first quarter was impacted disproportionately by unseasonably warm weather in many parts of the country.
April is the 8th month in a row in which the economy generated 100,000 jobs or more and the 26th straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force. Government employment continues to contract with a loss of 15,000 jobs in April.
The U.S. Bureau of Labor Statistics reported today that employers added 120,000 jobs in March. The jobs number is lower than anticipated compared to an average increase of 246,000 the past three months. However, the unemployment rate dropped to 8.2%. Additionally, employment for January and February was revised upward by 4,000 additional jobs.
The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. Regarding government employment, the Bureau of Labor Statistics reports that “ government employment was essentially unchanged” in March. Over the past 12 months, the sector has lost 277,000 jobs, with declines in local government; state government, excluding education; and the U.S. Postal Service.
The job market was retracting heavily during the depths of the recession in 2008 and early 2009 with job losses of over 750,000 several months. Over 4 million jobs have been created over the last 25 months.
This is the seventh month in a row in which the economy generated 100,000 jobs or more. 125,000 are needed each month to keep up with growth in the potential labor force.
