Archive for the ‘unemployment’ Category

October Employment Numbers

November 8, 2014

October Employment Numbers

The Bureau of Labor Statistics has released the jobless numbers for October 2014. There’s good news, not-so-good news, and bad news.

Good news: The official unemployment rate is:5.8%214,000 new jobs were added to the workforce last month, 2.3 million so far this year.

Not-So-Good News: The real unemployment rate is 11.1% (U6, includes people who no longer get unemployment benefits, need work but have stopped looking because it’s futile, or have only found part-time work). Learn more here.

Bad News: Wages for those new jobs are low. Very low, down where they were in 2009. And 2.9 million people have been out of work for half a year or more.

The economy may suck for working people, but Wall Street is doing just fine, thank you.

More:

“America’s dual economy,” Heather Long and Patrick Gillespie, CNN Money

“American workers are still waiting for their raise,” Matthew Yglesias, Vox

“Job Growth Is Picking Up. But What About All the Sidelined Workers?” Josh Bivens, Wall Street Journal blog

“Black Unemployment Falls to 10.9 Percent,” Joyce Jones, BET News

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Congress Gives the Jobless a Christmas Gift

December 28, 2013

Congress Gives the Jobless a Christmas Gift

“More than 1 million Americans are bracing for a harrowing, post-Christmas jolt as extended federal unemployment benefits come to a sudden halt this weekend, with potentially significant implications for the recovering U.S. economy. A tense political battle likely looms when Congress reconvenes in the new, midterm election year.”

— “1.3 Million Losing Unemployment Benefits Saturday,” Bradley Klapper, Associated Press

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165,000 New Jobs In April. Maybe.

May 5, 2013

165,000 New Jobs in April. Maybe.

The Bureau of Labor Statistics announced employment figures for April 2013: 165,000 new jobs. No one knows exactly what that means, but one thing is certain: This number will certainly change. Does that indicate government ineptitude or political manipulation? No.

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Low Unemployment Rate, But Low Job Numbers

April 6, 2013

Low UnemploymentRate, But Low Job Numbers

U.S. jobs grew by only 88,000 in March, less than half of recent monthly job increases, yet the unemployment rate was the lowest in four years, 7.6 percent. How come? People stopped looking, went back to school, or were otherwise no longer counted as unemployed. Was job growth a victim of austerity anticipation? Opinions differ.

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Jack Welch Quits, Raising Jobless Numbers

October 10, 2012

Jack Welch Quits, Raising Jobless Numbers

Jack Welch is sticking to his conspiracy theory, no matter how much it’s debunked and ridiculed . The Bureau of Labor Statistics, he says, that bunch of technocrats long trusted by Wall Street, an outfit without political appointees, cooked the books and fiddled the September employment figures to give President Obama’s re-election campaign a mild boost. They must be lousy cooks, though, since the drop in joblessness was a measly fraction of one percent. Mr. Welch was much better at this kind of thing when he “managed earnings” as CEO of GE.

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200,000 New Jobs in December, But This Is January.

January 7, 2012

200,000 New Jobs in December, But This Is January.

The December 2011 employment figures are out, and the Bureau of Labor Statistics reports that last month saw an increase of 200,000 new jobs.  At that rate it will be a mere 65 months before we get to full employment.

The BLS adjusts these statistics to account for seasonal variations so that temporary holiday jobs — evergreen salesmen, reindeer renters, maids-a-milking, department store Santas  — don’t distort the figures.  Some analysts aren’t sure the Bureau understands our 21st century retail supply chain, where orders on the InterWebz make temporary work for thousands of migratory warehouse gypsies and delivery drivers. Stay tuned for next month’s job numbers.

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(un)Employment Report: No New Jobs

September 3, 2011

(un)Employment Report: No New Jobs

The Bureau of Labor Statistics has released the jobless numbers for August 2011.

The official unemployment rate, the one in the headlines, is 9.1%. The real unemployment rate: 16.2% (includes people who no longer get unemployment benefits, need work but have stopped looking because it’s futile, or have only found part-time work). The official rate hasn’t changed from last month, the real rate has grown by a tenth of a percent. Learn more here.

45,000 jobs were temporarily lost in the Verizon strike, and those workers are back on the payroll this month, but the 17,000 government jobs eliminated last month are permanently gone. While 62,000 private sector jobs were added in August, this is no comfort to America’s 14 million unemployed.  More that 6 million of them have been out of work for over six months.

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(un)Employment News

May 9, 2011

(un)Employment News

The Bureau of Labor Statistics has released the jobless numbers for April 2011. This is a regular monthly exercise in statistical flim-flam, and the BLS knows it.

The meaningless unemployment rate in the headlines: 9% (up from 8.9%). The real unemployment rate: 16.6% (includes people who no longer get unemployment benefits, need work but have stopped looking because it’s futile, or have only found part-time work). Learn more here.

There was a net gain of 200,000 jobs in the past month, not all of them at McDonald’s (some were at Wendy’s). At that rate, all of America’s 13 million unemployed should be working by about 2016.

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(un)Employment News

March 4, 2011

 (un)Employment News

The Bureau of Labor Statistics has released the jobless numbers for Febuary 2011. This is a regular monthly exercise in statistical flim-flam, and the BLS knows it.

The meaningless unemployment rate in the headlines: 8.9%. The real unemployment rate: 15.9% (includes people who no longer get unemployment benefits, need work but have stopped looking because it’s futile, or have only found part-time work). Learn more here.

 Mike Konczal explains the bottom line: “Unemployment Is Dropping as Workers Keep Dropping Out.”

 

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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Happy 2011

January 1, 2011

Happy 2011

It’s 2011; lower your expectations. Happy New Year.

 

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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