U.S. Labor Force Increases By Over 500,000 in March as Americans Look For Jobs, U-3 Unemployment Rate 6.7 with 10.5 Million Unemployed and U-6 Unemployment Rate 12.7%! — Videos

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The Pronk Pops Show 237, April 4, 2014, Story 1: U.S. Labor Force Increases By Over 500,000 in March as Americans Look For Jobs,  U-3 Unemployment Rate 6.7 with 10.5 Million Unemployed and U-6 Unemployment Rate 12.7%! — Videos

April 4, 2014- Business News – Financial News – Stock News –NYSE — Market News 2014

U.S. Wages Stagnate as American Work Week Lengthens

U.S. March Nonfarm Payrolls Rises 192,000

Employment Level

 145,742,000

Labor Force Statistics from the Current Population Survey

Series Id:           LNS12000000 Seasonally Adjusted

Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

employment level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146378(1) 146156 146086 146132 145908 145737 145532 145203 145076 144802 144100 143369
2009 142152(1) 141640 140707 140656 140248 140009 139901 139492 138818 138432 138659 138013
2010 138451(1) 138599 138752 139309 139247 139148 139179 139427 139393 139111 139030 139266
2011 139287(1) 139422 139655 139622 139653 139409 139524 139904 140154 140335 140747 140836
2012 141677(1) 141943 142079 141963 142257 142432 142272 142204 142947 143369 143233 143212
2013 143384(1) 143464 143393 143676 143919 144075 144285 144179 144270 143485 144443 144586
2014 145224(1) 145266 145742
1 : Data affected by changes in population controls.

 

Civilian Labor Force Level

156,227,000

 

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153404(1) 153720 153964 154642 154106 153631 153706 154087 153971 153631 154127 153639
2011 153198(1) 153280 153403 153566 153526 153379 153309 153724 154059 153940 154072 153927
2012 154328(1) 154826 154811 154565 154946 155134 154970 154669 155018 155507 155279 155485
2013 155699(1) 155511 155099 155359 155609 155822 155693 155435 155473 154625 155284 154937
2014 155460(1) 155724 156227
1 : Data affected by changes in population controls.

Labor Force Participation Rate

 

63.2%

 

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 63.2 63.2 62.8 63.0 62.8
2014 63.0 63.0 63.2

Unemployment Level

10,486,000

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 14953 15121 15212 15333 14858 14483 14527 14660 14578 14520 15097 14373
2011 13910 13858 13748 13944 13873 13971 13785 13820 13905 13604 13326 13090
2012 12650 12883 12732 12603 12689 12702 12698 12464 12070 12138 12045 12273
2013 12315 12047 11706 11683 11690 11747 11408 11256 11203 11140 10841 10351
2014 10236 10459 10486

U-3 Unemployment Rate

6.7%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.9 9.9 9.6 9.4 9.5 9.5 9.5 9.5 9.8 9.4
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.2 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.8 7.9
2013 7.9 7.7 7.5 7.5 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6 6.7 6.7

U-6 Unemployment Rate

12.7%


Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached
ear Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.2 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.1 16.0 15.9 16.1 15.8 16.1 16.0 16.1 16.3 15.9 15.6 15.2
2012 15.1 15.0 14.5 14.6 14.8 14.8 14.9 14.7 14.7 14.4 14.4 14.4
2013 14.4 14.3 13.8 13.9 13.8 14.2 13.9 13.6 13.6 13.7 13.1 13.1
2014 12.7 12.6 12.7

Unemployment Rate 16-19 Years

20.9%

 

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9
2006 15.1 15.3 16.1 14.6 14.0 15.8 15.9 16.0 16.3 15.2 14.8 14.6
2007 14.8 14.9 14.9 15.9 15.9 16.3 15.3 15.9 15.9 15.4 16.2 16.8
2008 17.8 16.6 16.1 15.9 19.0 19.2 20.7 18.6 19.1 20.0 20.3 20.5
2009 20.7 22.3 22.2 22.2 23.4 24.7 24.3 25.0 25.9 27.2 26.9 26.7
2010 26.0 25.6 26.2 25.4 26.5 26.0 25.9 25.6 25.8 27.3 24.8 25.3
2011 25.5 24.1 24.3 24.5 23.9 24.8 24.8 25.1 24.5 24.2 24.1 23.3
2012 23.5 23.8 24.8 24.6 24.2 23.7 23.7 24.4 23.8 23.8 23.9 24.0
2013 23.5 25.2 23.9 23.7 24.1 23.8 23.4 22.6 21.3 22.0 20.8 20.2
2014 20.7 21.4 20.9

Black Unemployment Rate

12.4%

Series Id:           LNS14000006
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Black or African American
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Race:                Black or African American

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 8.2 8.1 7.4 7.0 7.7 7.8 7.7 7.9 7.3 7.3 7.3 7.4
2001 8.2 7.7 8.3 8.0 7.9 8.3 8.0 9.1 8.9 9.5 9.8 10.1
2002 10.0 9.9 10.5 10.7 10.2 10.5 9.8 9.8 9.7 9.8 10.7 11.3
2003 10.5 10.7 10.3 10.9 10.9 11.5 10.9 10.9 11.1 11.4 10.2 10.1
2004 10.4 9.7 10.3 9.8 10.1 10.2 11.0 10.5 10.3 10.8 10.7 10.7
2005 10.6 10.9 10.5 10.3 10.1 10.2 9.2 9.7 9.4 9.1 10.6 9.2
2006 8.9 9.5 9.5 9.4 8.7 8.9 9.5 8.8 9.0 8.4 8.5 8.3
2007 7.9 8.0 8.4 8.3 8.3 8.5 8.1 7.6 8.0 8.5 8.5 9.0
2008 9.1 8.4 9.2 8.6 9.6 9.4 10.0 10.6 11.3 11.4 11.5 12.1
2009 12.7 13.7 13.7 15.0 15.0 14.8 14.8 14.8 15.3 15.8 15.7 16.1
2010 16.5 16.0 16.9 16.6 15.5 15.1 15.7 15.9 16.0 15.7 16.1 15.6
2011 15.8 15.5 15.8 16.5 16.3 16.0 15.9 16.4 15.9 14.7 15.6 15.6
2012 13.6 14.0 14.1 13.2 13.6 14.1 14.2 13.9 13.5 14.2 13.3 14.0
2013 13.8 13.8 13.2 13.1 13.5 13.5 12.6 12.9 13.0 13.0 12.4 11.9
2014 12.1 12.0 12.4

Employment Situation Summary

Transmission of material in this release is embargoed until                    USDL-14-0530
8:30 a.m. (EDT) Friday, April 4, 2014

Technical information: 
  Household data:         (202) 691-6378  •  cpsinfo@bls.gov  •  www.bls.gov/cps
  Establishment data:     (202) 691-6555  •  cesinfo@bls.gov  •  www.bls.gov/ces

Media contact:	          (202) 691-5902  •  PressOffice@bls.gov


                              THE EMPLOYMENT SITUATION -- MARCH 2014


Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate
was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today.
Employment grew in professional and business services, in health care, and in mining
and logging.

Household Survey Data

In March, the number of unemployed persons was essentially unchanged at 10.5 million,
and the unemployment rate held at 6.7 percent. Both measures have shown little movement
since December 2013. Over the year, the number of unemployed persons and the unemployment
rate were down by 1.2 million and 0.8 percentage point, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for adult women increased to 6.2
percent in March, and the rate for adult men decreased to 6.2 percent. The rates for
teenagers (20.9 percent), whites (5.8 percent), blacks (12.4 percent), and Hispanics
(7.9 percent) showed little or no change. The jobless rate for Asians was 5.4 percent
(not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2,
and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 3.7 million,
changed little in March; these individuals accounted for 35.8 percent of the unemployed.
The number of long-term unemployed was down by 837,000 over the year. (See table A-12.)

Both the civilian labor force and total employment increased in March. The labor force
participation rate (63.2 percent) and the employment-population ratio (58.9 percent)
changed little over the month. (See table A-1.) The number of persons employed part
time for economic reasons (sometimes referred to as involuntary part-time workers) was
little changed at 7.4 million in March. These individuals were working part time because
their hours had been cut back or because they were unable to find full-time work. (See
table A-8.)

In March, 2.2 million persons were marginally attached to the labor force, little changed
from a year earlier. (The data are not seasonally adjusted.) These individuals were not
in the labor force, wanted and were available for work, and had looked for a job sometime
in the prior 12 months. They were not counted as unemployed because they had not searched
for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 698,000 discouraged workers in March, down 
slightly from a year earlier. (These data are not seasonally adjusted.) Discouraged
workers are persons not currently looking for work because they believe no jobs are
available for them. The remaining 1.5 million persons marginally attached to the labor
force in March had not searched for work for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 192,000 in March. Job growth averaged 183,000
per month over the prior 12 months. In March, employment grew in professional and business
services, in health care, and in mining and logging. (See table B-1.)

Professional and business services added 57,000 jobs in March, in line with its average
monthly gain of 56,000 over the prior 12 months. Within the industry, employment increased
in March in temporary help services (+29,000), in computer systems design and related
services (+6,000), and in architectural and engineering services (+5,000).

In March, health care added 19,000 jobs. Employment in ambulatory health care services
rose by 20,000, with a gain of 9,000 jobs in home health care services. Nursing care
facilities lost 5,000 jobs over the month. Job growth in health care averaged 17,000 per
month over the prior 12 months.

Employment in mining and logging rose in March (+7,000), with the bulk of the increase
occurring in support activities for mining (+5,000). Over the prior 12 months, the mining
and logging industry added an average of 3,000 jobs per month.

Employment continued to trend up in March in food services and drinking places (+30,000).
Over the past year, food services and drinking places has added 323,000 jobs.

Construction employment continued to trend up in March (+19,000). Over the past year,
construction employment has risen by 151,000.

Employment in government was unchanged in March. A decline of 9,000 jobs in federal
government was mostly offset by an increase of 8,000 jobs in local government, excluding
education. Over the past year, employment in federal government has fallen by 85,000.

Employment in other major industries, including manufacturing, wholesale trade, retail
trade, transportation and warehousing, information, and financial activities, changed
little over the month.

The average workweek for all employees on private nonfarm payrolls increased by 0.2
hour in March to 34.5 hours, offsetting a net decline over the prior 3 months. The
manufacturing workweek rose by 0.3 hour in March to 41.1 hours, and factory overtime
rose by 0.1 hour to 3.5 hours. The average workweek for production and nonsupervisory
employees on private nonfarm payrolls increased by 0.3 hour to 33.7 hours. (See
tables B-2 and B-7.)

In March, average hourly earnings for all employees on private nonfarm payrolls edged
down by 1 cent to $24.30, following a 9 cent increase in February. Over the year,
average hourly earnings have risen by 49 cents, or 2.1 percent. In March, average
hourly earnings of private-sector production and nonsupervisory employees edged down
by 2 cents to $20.47. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised from +129,000 to
+144,000, and the change for February was revised from +175,000 to +197,000. With these
revisions, employment gains in January and February were 37,000 higher than previously
reported.

_____________
The Employment Situation for April is scheduled to be released on Friday, May 2, 2014,
at 8:30 a.m. (EDT).

http://www.bls.gov/news.release/empsit.nr0.htm


Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted

[Numbers in thousands]
Category Mar.
2013
Jan.
2014
Feb.
2014
Mar.
2014
Change from:
Feb.
2014-
Mar.
2014

Employment status

Civilian noninstitutional population

244,995 246,915 247,085 247,258 173

Civilian labor force

155,099 155,460 155,724 156,227 503

Participation rate

63.3 63.0 63.0 63.2 0.2

Employed

143,393 145,224 145,266 145,742 476

Employment-population ratio

58.5 58.8 58.8 58.9 0.1

Unemployed

11,706 10,236 10,459 10,486 27

Unemployment rate

7.5 6.6 6.7 6.7 0.0

Not in labor force

89,896 91,455 91,361 91,030 -331

Unemployment rates

Total, 16 years and over

7.5 6.6 6.7 6.7 0.0

Adult men (20 years and over)

6.9 6.2 6.4 6.2 -0.2

Adult women (20 years and over)

6.9 5.9 5.9 6.2 0.3

Teenagers (16 to 19 years)

23.9 20.7 21.4 20.9 -0.5

White

6.7 5.7 5.8 5.8 0.0

Black or African American

13.2 12.1 12.0 12.4 0.4

Asian (not seasonally adjusted)

5.0 4.8 6.0 5.4 -

Hispanic or Latino ethnicity

9.2 8.4 8.1 7.9 -0.2

Total, 25 years and over

6.1 5.4 5.5 5.4 -0.1

Less than a high school diploma

11.1 9.6 9.8 9.6 -0.2

High school graduates, no college

7.6 6.5 6.4 6.3 -0.1

Some college or associate degree

6.4 6.0 6.2 6.1 -0.1

Bachelor’s degree and higher

3.8 3.2 3.4 3.4 0.0

Reason for unemployment

Job losers and persons who completed temporary jobs

6,321 5,407 5,448 5,489 41

Job leavers

978 818 823 815 -8

Reentrants

3,182 2,937 2,997 3,037 40

New entrants

1,304 1,184 1,229 1,169 -60

Duration of unemployment

Less than 5 weeks

2,497 2,434 2,373 2,461 88

5 to 14 weeks

2,843 2,429 2,568 2,581 13

15 to 26 weeks

1,779 1,689 1,615 1,677 62

27 weeks and over

4,576 3,646 3,849 3,739 -110

Employed persons at work part time

Part time for economic reasons

7,663 7,257 7,186 7,411 225

Slack work or business conditions

4,921 4,405 4,251 4,512 261

Could only find part-time work

2,585 2,571 2,692 2,731 39

Part time for noneconomic reasons

18,784 19,165 19,027 19,216 189

Persons not in the labor force (not seasonally adjusted)

Marginally attached to the labor force

2,326 2,592 2,303 2,168 -

Discouraged workers

803 837 755 698 -

- Over-the-month changes are not displayed for not seasonally adjusted data.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

 

 

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Mar.
2013
Jan.
2014
Feb.
2014(p)
Mar.
2014(p)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

141 144 197 192

Total private

164 166 188 192

Goods-producing

29 65 40 25

Mining and logging

2 6 3 7

Construction

24 51 18 19

Manufacturing

3 8 19 -1

Durable goods(1)

6 1 16 8

Motor vehicles and parts

4.1 -6.5 11.6 0.0

Nondurable goods

-3 7 3 -9

Private service-providing(1)

135 101 148 167

Wholesale trade

1.8 18.3 14.5 7.1

Retail trade

-8.7 -21.5 -1.9 21.3

Transportation and warehousing

-0.1 15.5 -5.4 7.9

Information

2 -3 -8 2

Financial activities

6 -1 9 1

Professional and business services(1)

67 49 81 57

Temporary help services

17.5 7.6 27.6 28.5

Education and health services(1)

41 16 31 34

Health care and social assistance

23.4 11.4 24.9 27.0

Leisure and hospitality

34 25 29 29

Other services

-7 4 -1 6

Government

-23 -22 9 0

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES(2)
AS A PERCENT OF ALL EMPLOYEES

Total nonfarm women employees

49.4 49.4 49.4 49.4

Total private women employees

47.9 48.0 48.0 48.0

Total private production and nonsupervisory employees

82.6 82.6 82.7 82.7

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.5 34.4 34.3 34.5

Average hourly earnings

$23.81 $24.22 $24.31 $24.30

Average weekly earnings

$821.45 $833.17 $833.83 $838.35

Index of aggregate weekly hours (2007=100)(3)

98.2 99.5 99.4 100.1

Over-the-month percent change

0.2 0.4 -0.1 0.7

Index of aggregate weekly payrolls (2007=100)(4)

111.5 115.0 115.3 116.1

Over-the-month percent change

0.2 0.6 0.3 0.7

HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES

Total private

Average weekly hours

33.8 33.6 33.4 33.7

Average hourly earnings

$20.02 $20.39 $20.49 $20.47

Average weekly earnings

$676.68 $685.10 $684.37 $689.84

Index of aggregate weekly hours (2002=100)(3)

105.9 107.0 106.6 107.8

Over-the-month percent change

0.1 0.4 -0.4 1.1

Index of aggregate weekly payrolls (2002=100)(4)

141.7 145.8 146.0 147.4

Over-the-month percent change

0.2 0.6 0.1 1.0

DIFFUSION INDEX(5)
(Over 1-month span)

Total private (264 industries)

56.1 62.7 59.1 58.5

Manufacturing (81 industries)

52.5 55.6 51.9 50.0

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary

 

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Santa Obama’s $9 Minimum Wage: Good Propaganda, Bad Economics–Videos

Posted on February 19, 2013. Filed under: American History, Blogroll, Business, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Fiscal Policy, government spending, history, History of Economic Thought, Inflation, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Narcissism, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Resources, Talk Radio, Technology, Unemployment, Unions, Video | Tags: , , , , , , , , , , , , , |

Santa Obama’s $9 minimum wage: good propaganda, bad economics

By Raymond Thomas Pronk

Presidential economic policies like the proverbial “road to hell” are often paved with good intentions.

In his 2013 State of the Union address, President Barack Obama said:

“Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets.”

Why not increase the minimum wage to $18 per hour and win America’s war on poverty?

What are the economic consequences or impact of a $9 minimum wage on young high school and college students seeking employment? A decidedly negative impact if economic history is any guide.

The large increase in teenage unemployment is partly driven by the increase in the minimum wage. When the minimum wage rate was increased in July 2008 from $5.85 to $6.55 there was an upward spike in the teenage unemployment rate to greater than 20 percent. When the minimum wage was again increased in July 2009 from $6.55 to its current rate of $7.25, there was another upward spike in the teenage unemployment rate to greater than 25 percent. This rising trend of upward spikes in teenage unemployment rates after an increase in the minimum wage is reflected in the following chart.

Unemployment rate or percent of 16-19 years from 1948 to present

             unemployment_rate_1948_present_16_19-years_edited           

Source: Bureau of Labor Statistics, Department of Labor

David Neumark, professor of economics at the University of California, Irvine and William L. Wascher, deputy director in the Division of Research and Statistics at the Federal Reserve Board, in their book, “Minimum Wages,” provide a comprehensive review of the evidence on the economic effects of minimum wage laws. They concluded that such laws reduce employment opportunities for less-skilled workers, tend to reduce their earnings and are not very effective in reducing poverty.

If Congress passes an increase in the minimum wage to $9 as proposed by Obama, young, inexperienced, low-skill workers, especially blacks and Hispanics, will again be hurt for they will not be hired by businesses who cannot afford to pay them the higher mandated minimum wage. This will be reflected in yet another spike upward in the teenage unemployment rate that might exceed 30 percent.

Furthermore, young American citizens, especially blacks and Hispanics, will face stiff competition from the more than 11 million illegal aliens who predominantly seek low-skilled jobs. Obama and progressives in both the Democratic and Republican parties want to grant these illegal aliens immediate legal status to work in the U.S.

Obama is repeating the past economic policy mistakes of progressive presidents from both political parties such as Hoover, Roosevelt, Truman, Johnson, Nixon, Carter and the Bushes in mandating higher than free market wage rates. These well-intentioned but massive government interventionist economic policies lead to prolonged depressions and recessions with high unemployment rates, especially for young, inexperienced, low skilled and minority workers.

Thirty years ago the black economist, Walter E. Williams, explored the effects of federal and state government intervention into the economy, including minimum wage laws, in the PBS documentary, Good Intentions, based upon his 1982 book, “The State Against Blacks.” Those favoring a rise in the federal minimum wage would be well advised to view this video together with “Milton Friedman on the Minimum Wage” on YouTube before advocating an increase in the minimum wage.

For young American citizens an entry-level job paying a lower competitive market wage rate is preferable to no job at a higher government mandated minimum wage.

Good intentions are not enough. Results measured in jobs created count.

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/

Digital Age-Why is Coolidge the Forgotten President?-Amity Shlaes

Sumner’s Explanation of The Forgotten Man – Revised for the 21st Century

Sumner’s Explanation of The Forgotten Man – Revised for the 21st
Century

By Joshua Lyons 9/25/09

As soon as A observes something which seems to him to be wrong,  from which X is suffering, A talks it over  with B, and A and B then propose to get a law passed – with the praise of Y – to remedy  the evil and help X.

Their law always proposes to determine  what C shall do for X or, in the better case,  what A, B and C shall do for  X.

As for A and B, who get a  law to make themselves do for X what they are willing to do for  him, we have nothing to say except that they might better have done it without  any law, but C is forced to comply with the new law.

All this  is done while Y looks on with glee and proclaims that  A and B are so good for helping poor  X.

A is the  politician
B is the humanitarian, special interest, do-gooder, reformer, social speculator, etc.
C is The Forgotten Man (i.e. you, me, us)
X is the downtrodden, the oppressed, the little guy, the misunderstood, etc.
Y is the Mainstream Media

In other words…
As soon as THE POLITICIAN observes something which seems to him to be wrong, from which THE DOWNTRODDEN is suffering, THE POLITICIAN talks it over with THE HUMANITARIAN, and THE POLITICIAN and THE HUMANITARIAN then propose to get a law passed – with the praise of THE MAINSTREAM MEDIA – to remedy the evil and help THE DOWNTRODDEN.

Their law always proposes to determine what THE FORGOTTEN MAN shall do for THE DOWNTRODDEN or, in the
better case, what THE POLITICIAN, THE HUMANITARIAN and THE FORGOTTEN MAN shall do for THE DOWNTRODDEN.

As for THE POLITICIAN and THE HUMANITARIAN, who get a law to make themselves do for THE DOWNTRODDEN what they are willing to do for him, we have
nothing to say except that they might better have done it without any law, but THE FORGOTTEN MAN is forced to comply with the new law.

All this is done while THE MAINSTREAM MEDIA looks on with glee and proclaims that THE POLITICIAN and THE HUMANITARIAN are so good for helping poor THE DOWNTRODDEN.

The preceding commentary was based on William Graham Sumner’s explanation of The Forgotten Man.

http://forgottenmenblog.blogspot.com/2009/09/sumners-explanation-of-forgotten-man.html

MinimumWage

food-stamps-minimum-wage-graph-1970-2010-no-population

The Truth about the Minimum Wage

Obama: “Raise Minimum Wage to $9 an Hour” – SOTU 2013

More on Minimum Wage

Obama’s $9/Hour SOTU Minimum Wage 

 Milton Friedman on Minimum Wage

Power of the Market – Minimum Wage

Williams with Sowell – Minimum Wage

The Job-Killing Impact of Minimum Wage Laws

“Good Intentions” by Dr. Walter Williams

Dr. Walter Williams’ 1982 PBS documentary “Good Intentions” based on his book, “The State Against Blacks”. The documentary was very controversial at the time it was released and led to many animosities and even threats of murder.

In “Good Intentions”, Dr. Williams examines the failure of the war on poverty and the devastating effect of well meaning government policies on blacks asserting that the state harms people in the U.S. more than it helps them. He shows how government anti-poverty programs have often locked people into poverty making the points that:

- being forced to attend 3rd rate public schools leave students unprepared for working life
- minimum wages prevent young people from obtaining jobs at an early age
- licensing and labor laws have had the effect of restricting entrance of blacks into the skilled trades and unions
- the welfare system creates perverse incentives for the poor to make bad choices they otherwise would not

Dr. Williams presents the following solutions to these problems:

Failing Public Schools – Give parents greater control over their children’s education by setting up a tuition tax credit or voucher system to broaden competition in turn revitalizing both public and non-public schools

Minimum Wages – Remove the minimum wage from youngsters to give more young people the chance to learn the world of work at an early age instead spending their free time idle an possibly falling into the habits of the street

Restrictive Labor Laws, Jobs Programs – Eliminate government roadblocks that prevent new entrepreneurs from starting their own business

Welfare Programs – Enact a compassionate welfare system such as a negative income tax which would remove dependency and dis-incentives for the poor to get themselves out of poverty

Scholars interviewed in the documentary include Donald Eberle, Charles Murray, and George Gilder.

Good Intentions 1 of 3 Introduction and Public Schools with Walter Williams

Good Intentions 2 of 3 Minimum Wage, Licensing, and Labor Laws with Walter

Good Intentions 3 of 3 The Welfare System and Conclusions with Walter Williams 

Government Intervention and Individual Freedom | Walter Williams

Obama: “Time to Pass Immigration Reform” – State of the Union 2013 

Contrasting Views of the Great Depression | Robert P. Murphy

 

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Uncommon Knowledge: The Great Depression with Amity Shlaes

Calvin Coolidge: The Best President You’ve Never Heard Of – Amity Shlaes

Amity Shlaes, Author, “Coolidge”

Keep Cool With Coolidge, Not Obama: Obama Reveals His True Hatred of Business

Obama Wants $9 Minimum Wage…

 

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No Change, No Hope, No Second Term: Over 12.8 Million Americans Still Unemployed and Unemployment Rate Over 8% After 42 Months of Obama Administration–Obama Is Not Working!–Total Unemployment Rate 15%–Over 23 Million Americans Seeking Full Time Job!–Videos

Posted on August 3, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Fiscal Policy, government, government spending, history, Inflation, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Programming, Psychology, Radio, Rants, Raves, Strategy, Unemployment, Video, Wisdom | Tags: , , , , , , , , , , , |

The number of Americans employed when Obama became President in January 2009 was 142,187,000.

The number of Americans employed in July 2012 was 142,220,000.

The net increase in number of Americans employed after 42 months of the Obama Presidency is 33,000!

The U.S. economy needs to create between 130,000 and 140,000 jobs per month to just keep up with population growth according to Commissioner Dr. Keith Hall of the Bureau of Labor Statistics.

Vice Chairman Brady Questions BLS Commissioner at JEC Hearing on the Employment Situation

Between 130,000 to 140,000 need to be created each month to keep up with population growth!

At a Joint Economic Committee Hearing on the Employment Situation, Representative Kevin Brady, Vice Chairman, questions Witness Dr. Keith Hall, Commissioner, Bureau of Labor Statistics about the effect of government spending on private sector job growth.

For the 42 months that Obama has been President, a minimum of  130,000 jobs per month times 42 months or 5,460,000 new jobs needed to be created to just keep up with population growth.

Instead only a net increase in the employment level of 33,000 new jobs was created during the last 42 months.

The U.S. economy and employment level peaked in November 2007 when the number of employed Americans was 146,595,000.

From November 2007 to January 2009, the economy lost 4,408,000  jobs (146,595,000 employed in November 2007 minus 142,187,000 employed in January 2009).

To keep up with population growth during this 14 month period the economy needed to produce another 1,820,000 in new  jobs ( 14 months times 130,000 new jobs per month) from December 2007 through January 2009.

Barack Obama became President in January 2009.

For the U.S. economy to reach it previous peak employment level of 146,595,000 plus the growth in the labor force from November 2007 through July 2012, the U.S. economy would need to create a total of ( 5,460,000 + 1,820,000 + 4,408,000) or 11,668,000 new jobs for a total employment level of 153,855,000.

The current employment level is  142,220,000 as of the August 3, 2012 Bureau of Labor Statistics Employment Situation Survey. 

Barack Obama’s economic policies have produced in 42 months a net increase of  only 33,000 in the employment level or new jobs when 11,668,000 new jobs were needed to reach the previous of peak in the employment level under President Bush plus the growth in the labor force.

Obama on jobs report: Still too many people out of work

In the above speech given on August 3, Barack Obama misleads the American people about his failed economic policies in creating jobs.

By January 2013, the total increase in the Federal national debt under President Obama will exceed $5,300 billion over a 48 month period due to government deficit spending  greater than $1,297 billion per year for four consecutive years.

This is fiscal insanity.

Obama’s economic policies failed to grow the economy and create jobs.

Obama does not deserve another term as president.

Obama is not working.

More Jobs, Higher Unemployment Rate, July Report Says

July Unemployment Rate Rises to 8.3%- More Jobs Lost (195k) Than Gained (163k)

“It’s Been Four Years”

Trapped in Unemployment

Romney’s promise of 12 million jobs

Will Jobs Numbers Determine Election? Not So Far

Unemployment rate UP to 8.3% – REAL rate UP to 15% with Obama focus on jobs 

Jobs Added in July but Unemployment Rate Rises

July Jobs Report: 163,000 jobs added

Rep. Kevin Brady Jobs Numbers Interview with CNBC’s Larry Kudlow 07-06-12 

Congressman Kevin Brady Questions Fed Chairman Ben Bernanke 6-7-12 

Rep. Kevin Brady Repeal Floor Speech 07-10-2012 

We Told You They Are Lying about Unemployment 

Unemployment Rate Primer

Lew Rockwell Pins the Tail on Ben Bernanke and the Rest of Washington’s Donkeys!

Lew Rockwell: The Government is A Gang of Thieves at Large! 

Employment Level–144.2 Million

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146397(1) 146157 146108 146130 145929 145738 145530 145196 145059 144792 144078 143328
2009 142187(1) 141660 140754 140654 140294 140003 139891 139458 138775 138401 138607 137968
2010 138500(1) 138665 138836 139306 139340 139137 139139 139338 139344 139072 138937 139220
2011 139330(1) 139551 139764 139628 139808 139385 139450 139754 140107 140297 140614 140790
2012 141637(1) 142065 142034 141865 142287 142415 142220
1 : Data affected by changes in population controls.

Civilian Labor Force Level–155 Million 

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154075(1) 153648 153925 153761 154325 154316 154480 154646 154559 154875 154622 154626
2009 154236(1) 154521 154143 154450 154800 154730 154538 154319 153786 153822 153833 153091
2010 153454(1) 153704 153964 154528 154216 153653 153748 154073 153918 153709 154041 153613
2011 153250(1) 153302 153392 153420 153700 153409 153358 153674 154004 154057 153937 153887
2012 154395(1) 154871 154707 154365 155007 155163 155013
1 : Data affected by changes in population controls.

Labor Force Participation Rate–63.7%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 65.9 66.0 65.8 65.8
2009 65.7 65.8 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.1 64.9 64.6 64.6 64.7 64.6 64.4 64.5 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.1 64.0 64.1 64.1 64.1 64.0 64.0
2012 63.7 63.9 63.8 63.6 63.8 63.8 63.7

Unemployment Level–12.8 Million

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7678 7491 7816 7631 8395 8578 8950 9450 9501 10083 10544 11299
2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
2012 12758 12806 12673 12500 12720 12749 12794

Unemployment Rate U-3–8.3%

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 8.9 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.8 9.9 9.6 9.4 9.5 9.6 9.5 9.5 9.8 9.4
2011 9.1 9.0 8.9 9.0 9.0 9.1 9.1 9.1 9.0 8.9 8.7 8.5
2012 8.3 8.3 8.2 8.1 8.2 8.2 8.3

 Total Unemployment Rate U-6–15%

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.1 11.8 12.7 13.5
2009 14.2 15.1 15.7 15.8 16.4 16.5 16.5 16.7 16.8 17.2 17.1 17.1
2010 16.7 16.9 16.9 17.0 16.6 16.5 16.5 16.6 16.9 16.8 16.9 16.6
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.4 16.0 15.6 15.2
2012 15.1 14.9 14.5 14.5 14.8 14.9 15.0

Comparison of U.S. Recoveries from Recession

1949-2007

Real Gross Domest Product (GDP) Growth Rates

Background Articles and Videos

Did Mitt Romney Call President Obama A Liar? 

Romney Aid: Obama’s Ad Is a Lie 

Current Population Survey 

August 3, 2012

Employment from the BLS household and payroll surveys:

summary of recent trends

http://www.bls.gov/web/empsit/ces_cps_trends.pdf

Employment Situation Summary

Transmission of material in this release is embargoed                          USDL-12-1531
until 8:30 a.m. (EDT) Friday, August 3, 2012

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                       THE EMPLOYMENT SITUATION -- JULY 2012

Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate
was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported
today. Employment rose in professional and business services, food services and drinking
places, and manufacturing.

Household Survey Data

Both the number of unemployed persons (12.8 million) and the unemployment rate (8.3
percent) were essentially unchanged in July. Both measures have shown little movement
thus far in 2012. (See table A-1.)

Among the major worker groups, the unemployment rate for Hispanics (10.3 percent) edged
down in July, while the rates for adult men (7.7 percent), adult women (7.5 percent),
teenagers (23.8 percent), whites (7.4 percent), and blacks (14.1 percent) showed little
or no change. The jobless rate for Asians was 6.2 percent in July (not seasonally
adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In July, the number of long-term unemployed (those jobless for 27 weeks and over) was
little changed at 5.2 million. These individuals accounted for 40.7 percent of the
unemployed. (See table A-12.)

Both the civilian labor force participation rate, at 63.7 percent, and the employment-
population ratio, at 58.4 percent, changed little in July. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) was essentially unchanged at 8.2 million in July. These
individuals were working part time because their hours had been cut back or because
they were unable to find a full-time job. (See table A-8.)

In July, 2.5 million persons were marginally attached to the labor force, down from 2.8
million a year earlier. (These data are not seasonally adjusted.) These individuals were
not in the labor force, wanted and were available for work, and had looked for a job
sometime in the prior 12 months. They were not counted as unemployed because they had
not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 852,000 discouraged workers in July, a decline
of 267,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged
workers are persons not currently looking for work because they believe no jobs are
available for them. The remaining 1.7 million persons marginally attached to the labor
force in July had not searched for work in the 4 weeks preceding the survey for reasons
such as school attendance or family responsibilities.

Establishment Survey Data

Total nonfarm payroll employment rose by 163,000 in July. Since the beginning of this
year, employment growth has averaged 151,000 per month, about the same as the average
monthly gain of 153,000 in 2011. In July, employment rose in professional and business
services, food services and drinking places, and manufacturing. (See table B-1.)

Employment in professional and business services increased by 49,000 in July. Computer
systems design added 7,000 jobs, and employment in temporary help services continued
to trend up (+14,000).

Within leisure and hospitality, employment in food services and drinking places rose by
29,000 over the month and by 292,000 over the past 12 months.

Manufacturing employment rose in July (+25,000), with nearly all of the increase in durable
goods manufacturing. Within durable goods, the motor vehicles and parts industry had fewer
seasonal layoffs than is typical for July, contributing to a seasonally adjusted employment
increase of 13,000. Employment continued to trend up in fabricated metal products (+5,000).

Employment continued to trend up in health care in July (+12,000), with over-the-month
gains in outpatient care centers (+4,000) and in hospitals (+5,000). Employment also
continued to trend up in wholesale trade.

Utilities employment declined in July (-8,000). The decrease reflects 8,500 utility workers
who were off payrolls due to a labor-management dispute.

Employment in other major industries, including mining and logging, construction, retail
trade, transportation and warehousing, financial activities, and government, showed little
or no change over the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at
34.5 hours in July. Both the manufacturing workweek, at 40.7 hours, and factory overtime,
at 3.2 hours, were unchanged over the month. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours. (See
tables B-2 and B-7.)

In July, average hourly earnings for all employees on private nonfarm payrolls edged up 
by 2 cents to $23.52. Over the year, average hourly earnings rose by 1.7 percent. In July,
average hourly earnings of private-sector production and nonsupervisory employees increased
by 2 cents to $19.77. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for May was revised from +77,000 to +87,000,
and the change for June was revised from +80,000 to +64,000.

_____________
The Employment Situation for August is scheduled to be released on Friday, September 7, 2012,
at 8:30 a.m. (EDT).

Glenn Hubbard: The Romney Plan for Economic Recovery

Tax cuts, spending restraint and repeal of Obama’s regulatory excesses would
mean 12 million new jobs in his first term alone

By Glenn Hubbard

“…We are currently in the most anemic economic recovery in the memory of most Americans. Declining consumer sentiment and business concerns over policy uncertainty weigh on the minds of all of us. We must fix our economy’s growth and jobs machine.

We can do this. The U.S. economy has the talent, ideas, energy and capital for the robust economic growth that has characterized much of America’s experience in our lifetimes. Our standard of living and the nation’s standing as a world power depend on restoring that growth.

But to do so we must have vastly different policies aimed at stopping runaway federal spending and debt, reforming our tax code and entitlement programs, and scaling back costly regulations. Those policies cannot be found in the president’s proposals. They are, however, the core of Gov. Mitt Romney’s plan for economic recovery and renewal.

In response to the recession, the Obama administration chose to emphasize costly, short-term fixes—ineffective stimulus programs, myriad housing programs that went nowhere, and a rush to invest in “green” companies.

As a consequence, uncertainty over policy—particularly over tax and regulatory policy—slowed the recovery and limited job creation. One recent study by Scott Baker and Nicholas Bloom of Stanford University and Steven Davis of the University of Chicago found that this uncertainty reduced GDP by 1.4% in 2011 alone, and that returning to pre-crisis levels of uncertainty would add about 2.3 million jobs in just 18 months.

The Obama administration’s attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the past three years, and the consensus outlook appears no better for the year ahead.

Moreover, the Obama administration’s large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation. A recent study by Ernst & Young finds that the administration’s proposal to increase marginal tax rates on the wage, dividend and capital-gain income of upper-income Americans would reduce GDP by 1.3% (or $200 billion per year), kill 710,000 jobs, depress investment by 2.4%, and reduce wages and living standards by 1.8%. And according to the Congressional Budget Office, the large deficits codified in the president’s budget would reduce GDP during 2018-2022 by between 0.5% and 2.2% compared to what would occur under current law.

President Obama has ignored or dismissed proposals that would address our anti-competitive tax code and unsustainable trajectory of federal debt—including his own bipartisan National Commission on Fiscal Responsibility and Reform—and submitted no plan for entitlement reform. In February, Treasury Secretary Tim Geithner famously told congressional Republicans that this administration was putting forth no plan, but “we know we don’t like yours.”

Other needed reforms would emphasize opening global markets for U.S. goods and services—but the president has made no contribution to the global trade agenda, while being dragged to the support of individual trade agreements only recently.

The president’s choices cannot be ascribed to a political tug of war with Republicans in Congress. He and Democratic congressional majorities had two years to tackle any priority they chose. They chose not growth and jobs but regulatory expansion. The Patient Protection and Affordable Care Act raised taxes, unleashed significant new spending, and raised hiring costs for workers. The Dodd-Frank Act missed the mark on housing and “too-big-to-fail” financial institutions but raised financing costs for households and small and mid-size businesses.

These economic errors and policy choices have consequences—record high long-term unemployment and growing ranks of discouraged workers. Sadly, at the present rate of job creation and projected labor-force growth, the nation will never return to full employment.

It doesn’t have to be this way. The Romney economic plan would fundamentally change the direction of policy to increase GDP and job creation now and going forward. The governor’s plan puts growth and recovery first, and it stands on four main pillars:

Stop runaway federal spending and debt. The governor’s plan would reduce federal spending as a share of GDP to 20%—its pre-crisis average—by 2016. This would dramatically reduce policy uncertainty over the need for future tax increases, thus increasing business and consumer confidence.

Reform the nation’s tax code to increase growth and job creation. The Romney plan would reduce individual marginal income tax rates across the board by 20%, while keeping current low tax rates on dividends and capital gains. The governor would also reduce the corporate income tax rate—the highest in the world—to 25%. In addition, he would broaden the tax base to ensure that tax reform is revenue-neutral.

Reform entitlement programs to ensure their viability. The Romney plan would gradually reduce growth in Social Security and Medicare benefits for more affluent seniors and give more choice in Medicare programs and benefits to improve value in health-care spending. It would also block grant the Medicaid program to states to enable experimentation that might better serve recipients.

Make growth and cost-benefit analysis important features of regulation. The governor’s plan would remove regulatory impediments to energy production and innovation that raise costs to consumers and limit new job creation. He would also work with Congress toward repealing and replacing the costly and burdensome Dodd–Frank legislation and the Patient Protection and Affordable Care Act. The Romney alternatives will emphasize better financial regulation and market-oriented, patient-centered health-care reform.

In contrast to the sclerosis and joblessness of the past three years, the Romney plan offers an economic U-turn in ideas and choices. When bolstered by sound trade, education, energy and monetary policy, the Romney reform program is expected by the governor’s economic advisers to increase GDP growth by between 0.5% and 1% per year over the next decade. It should also speed up the current recovery, enabling the private sector to create 200,000 to 300,000 jobs per month, or about 12 million new jobs in a Romney first term, and millions more after that due to the plan’s long-run growth effects.

But these gains aren’t just about numbers, as important as those numbers are. The Romney approach will restore confidence in America’s economic future and make America once again a place to invest and grow.

Mr. Hubbard, dean of Columbia Business School, was chairman of the Council of Economic Advisers under President George W. Bush. He is an economic adviser to Gov. Romney. …”

http://online.wsj.com/article/SB10000872396390443687504577562842656362660.html

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Poor Bureau of Labor Statistics Jobs Report: Only 120,000 Jobs Created In March 2012 With Labor Participation Rate of 63.8 percent As 164,000 Americans Drop Out of Labor Force and Become Discouraged–U-3 Official Unemployment Rate Falls To 8.2 percent–12.7 Million Unemployed–Videos

Posted on April 10, 2012. Filed under: Banking, Blogroll, College, Communications, Demographics, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Investments, Language, Law, liberty, Life, Macroeconomics, Monetary Policy, Money, Tax Policy | Tags: , , , , , , , |

April 6th 2012 CNBC Stock Market Squawk Box (March Jobs Report)

March Unemployment Rate Analysis

MSNBC – Nightly News – Report ‘Landed With A Thud’ 4-6-2012

Reuters – Krueger – A Lot Of Work To Be Done After Weak March Jobs Data 4-6-2012

Romney Tax Plans Will Boost U.S. Economy, Chen Says

Employment Level

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146397(1) 146157 146108 146130 145929 145738 145530 145196 145059 144792 144078 143328
2009 142187(1) 141660 140754 140654 140294 140003 139891 139458 138775 138401 138607 137968
2010 138500(1) 138665 138836 139306 139340 139137 139139 139338 139344 139072 138937 139220
2011 139330(1) 139551 139764 139628 139808 139385 139450 139754 140107 140297 140614 140790
2012 141637(1) 142065 142034
1 : Data affected by changes in population controls.

Civilian Labor Force

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154075(1) 153648 153925 153761 154325 154316 154480 154646 154559 154875 154622 154626
2009 154236(1) 154521 154143 154450 154800 154730 154538 154319 153786 153822 153833 153091
2010 153454(1) 153704 153964 154528 154216 153653 153748 154073 153918 153709 154041 153613
2011 153250(1) 153302 153392 153420 153700 153409 153358 153674 154004 154057 153937 153887
2012 154395(1) 154871 154707
1 : Data affected by changes in population controls.

Civilian Labor Force Participation Rate

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 65.9 66.0 65.8 65.8
2009 65.7 65.8 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.1 64.9 64.6 64.6 64.7 64.6 64.4 64.5 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.1 64.0 64.1 64.1 64.1 64.0 64.0
2012 63.7 63.9 63.8

Unemployment Level

 Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7678 7491 7816 7631 8395 8578 8950 9450 9501 10083 10544 11299
2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
2012 12758 12806 12673

U-3 Unemployment Rate

 Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 8.9 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.8 9.9 9.6 9.4 9.5 9.6 9.5 9.5 9.8 9.4
2011 9.1 9.0 8.9 9.0 9.0 9.1 9.1 9.1 9.0 8.9 8.7 8.5
2012 8.3 8.3 8.2

U-6 Total Unemployment Rate

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.1 11.8 12.7 13.5
2009 14.2 15.1 15.7 15.8 16.4 16.5 16.5 16.7 16.8 17.2 17.1 17.1
2010 16.7 16.9 16.9 17.0 16.6 16.5 16.5 16.6 16.9 16.8 16.9 16.6
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.4 16.0 15.6 15.2
2012 15.1 14.9 14.5

Background Articles and Videos

Unemployment Rate Primer

John Williams of Shadow Stats “This is end of the world type stuff”

 

Employment Situation Summary

Transmission of material in this release is embargoed                 USDL-12-0614
until 8:30 a.m. (EDT) Friday, April 6, 2012

Technical information:
 Household data:     (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data: (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:       (202) 691-5902  *  PressOffice@bls.gov

                 THE EMPLOYMENT SITUATION -- MARCH 2012

Nonfarm payroll employment rose by 120,000 in March, and the unemployment
rate was little changed at 8.2 percent, the U.S. Bureau of Labor Statistics
reported today. Employment rose in manufacturing, food services and drinking
places, and health care, but was down in retail trade.

Household Survey Data

The number of unemployed persons (12.7 million) and the unemployment rate
(8.2 percent) were both little changed in March. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men 
(7.6 percent), adult women (7.4 percent), teenagers (25.0 percent), whites
(7.3 percent), blacks (14.0 percent), and Hispanics (10.3 percent) showed
little or no change in March. The jobless rate for Asians was 6.2 percent,
not seasonally adjusted. (See tables A-1, A-2,and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over)
was essentially unchanged at 5.3 million in March. These individuals
accounted for 42.5 percent of the unemployed. Since April 2010, the number
of long-term unemployed has fallen by 1.4 million. (See table A-12.)

The civilian labor force participation rate (63.8 percent) and the
employment-population ratio (58.5 percent) were little changed in March.
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) fell from 8.1 to 7.7 million
over the month. These individuals were working part time because their
hours had been cut back or because they were unable to find a full-time
job. (See table A-8.)

In March, 2.4 million persons were marginally attached to the labor
force, essentially unchanged from a year earlier. (The data are not
seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime
in the prior 12 months. They were not counted as unemployed because they
had not searched for work in the 4 weeks preceding the survey.
(See table A-16.)

Among the marginally attached, there were 865,000 discouraged workers
in March, about the same as a year earlier. (The data are not seasonally
adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining
1.5 million persons marginally attached to the labor force in March had
not searched for work in the 4 weeks preceding the survey for reasons such
as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 120,000 in March. In the prior 
3 months, payroll employment had risen by an average of 246,000 per month.
Private-sector employment grew by 121,000 in March, including gains in
manufacturing, food services and drinking places, and health care. Retail
trade lost jobs over the month. Government employment was essentially
unchanged. (See table B-1.)

Manufacturing employment rose by 37,000 in March, with gains in motor
vehicles and parts (+12,000), machinery (+7,000), fabricated metals
(+5,000), and paper manufacturing (+3,000). Factory employment has risen
by 470,000 since a recent low point in January 2010.

Within leisure and hospitality, employment in food services and drinking
places rose by 37,000 in March and has risen by 563,000 since a recent
low point in February 2010.

In March, health care employment continued to grow (+26,000). Within the
industry, offices of physicians and hospitals each added 8,000 jobs over the
month.

Employment in financial activities was up by 15,000 in March, with most of
the gain occurring in credit intermediation (+11,000).

Employment in professional and business services continued to trend up
in March (+31,000). Employment in the industry has grown by 1.4 million
since a recent low point in September 2009. In March, services to buildings
and dwellings added 23,000 jobs. Employment in temporary help services
was about unchanged over the month after increasing by 55,000 in February.

Retail trade employment fell by 34,000 in March. A large job loss in general
merchandise stores (-32,000) and small losses in other retail industries
more than offset gains in health and personal care stores (+6,000) and in
building material and garden supply stores (+5,000).

Employment in the other major private-sector industries, including mining,
construction, wholesale trade, transportation and warehousing, and information,
changed little in March.

The average workweek for all employees on private nonfarm payrolls edged
down by 0.1 hour to 34.5 hours in March. The manufacturing workweek fell 
by 0.3 hour to 40.7 hours, and factory overtime was unchanged at 3.4 hours.
The average workweek for production and nonsupervisory employees on private
nonfarm payrolls was unchanged at 33.8 hours. (See tables B-2 and B-7.)

In March, average hourly earnings for all employees on private nonfarm
payrolls rose by 5 cents, or 0.2 percent, to $23.39. Over the past 12 months,
average hourly earnings have increased by 2.1 percent. In March, average
hourly earnings of private-sector production and nonsupervisory employees
rose by 3 cents, or 0.2 percent, to $19.68. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised from
+284,000 to +275,000, and the change for February was revised from +227,000
to +240,000.

______________
The Employment Situation for April is scheduled to be released on
Friday, May 4, 2012, at 8:30 a.m. (EDT).
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Over 315,000 Discouraged Unemployed Stopped Looking For Work In November 2011–Only 120,000 New Jobs Created–U-3 Unemployment Rate Drops From 9.0% To 8.6 %–Do Not Believe It–Videos

Posted on December 2, 2011. Filed under: American History, Banking, Blogroll, Communications, Economics, Employment, Fiscal Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Security, Talk Radio, Taxes, Technology, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , |

http://www.shadowstats.com/alternate_data/unemployment-charts

http://www.nytimes.com/interactive/2011/09/25/us/unemployment-landscape-of-the-nation.html?ref=unemployment

Mythical Green Shoots and the Big Government Lie on Unemployment

Mike Norman Pwns Peter Schiff Again As US Economy Bounces Back

US Unemployment Rate Drops Sharply or does it? (December 02, 2011)

300,000 Give Up Job Search

Weekly Economic Flashback… Is Economic “Recovery” Gaining Momentum?

Behind The U.S. Jobs Report. A ‘Very Long Struggle’ for Work

Montag Discusses Unemployment Data and Extending Payroll Tax Cuts on News 12 – December 4 2011

The Dylan Ratigan Show – As The Unemployment Rate Falls, Have The Unemployed Given Up? 12-2-2011

NewsNation – Unemployment Rate Drops In November 12-2-2011 

Andrea Mitchell Reports – 13.3 Million Americans Remain Unemployed  12-2-2011

Gerald Celente: We’re going into an economic 9/11

Decline in unemployment an Obama political ploy?

December 2nd 2011 CNBC Stock Market Squawk Box (November Jobs Report)

cnn – unemployment rate falls to 8.6 percent

Employment Level

140,580,000

Series Id:           LNS12000000 Seasonally Adjusted

 Series title:        (Seas) Employment Level

 Labor force status: Employed

Type of data:        Number in thousands

Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146033(1) 146066 146334 145610 145901 146058 145886 145670 146231 145937 146584 146272
2008 146407(1) 146183 146143 146173 145925 145725 145479 145167 145056 144778 144068 143324
2009 142201(1) 141687 140822 140720 140292 139978 139794 139409 138791 138393 138590 137960
2010 138511(1) 138698 138952 139382 139353 139092 138991 139267 139378 139084 138909 139206
2011 139323(1) 139573 139864 139674 139779 139334 139296 139627 140025 140302 140580
1 : Data affected by changes in population controls.

Civilian Labor Force

153,883,000

Series Id:           LNS11000000 Seasonally Adjusted

Series title:        (Seas) Civilian Labor Force Level

Labor force status:  Civilian labor force

Type of data:        Number in thousands

Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153133(1) 152966 153054 152446 152666 153038 153035 152756 153422 153209 153845 153936
2008 154060(1) 153624 153924 153779 154322 154315 154432 154656 154613 154953 154621 154669
2009 154185(1) 154424 154100 154453 154805 154754 154457 154362 153940 154022 153795 153172
2010 153353(1) 153558 153895 154520 154237 153684 153628 154117 154124 153960 153950 153690
2011 153186(1) 153246 153406 153421 153693 153421 153228 153594 154017 154198 153883
1 : Data affected by changes in population controls.

Labor Participation Rate

64.0%

Series Id:           LNS11300000 Seasonally Adjusted

 Series title:        (Seas) Labor Force Participation Rate

Labor force status:  Civilian labor force participation rate

Type of data:        Percent or rate

Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.0 66.1 66.0 66.0 65.8 65.8
2009 65.7 65.7 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.1 65.0 64.7
2010 64.8 64.8 64.9 65.1 64.9 64.7 64.6 64.7 64.7 64.5 64.5 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.1 63.9 64.0 64.2 64.2 64.0

Unemployment Level

13,303,000

Series Id:           LNS13000000 Seasonally Adjusted

Series title:        (Seas) Unemployment Level

 Labor force status:  Unemployed

 Type of data:        Number in thousands

Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7100 6900 6721 6836 6766 6980 7149 7085 7191 7272 7261 7664
2008 7653 7441 7781 7606 8398 8590 8953 9489 9557 10176 10552 11344
2009 11984 12737 13278 13734 14512 14776 14663 14953 15149 15628 15206 15212
2010 14842 14860 14943 15138 14884 14593 14637 14849 14746 14876 15041 14485
2011 13863 13673 13542 13747 13914 14087 13931 13967 13992 13897 13303

Unemployment Rate U-3

8.6%

Series Id:           LNS14000000 Seasonally Adjusted

Series title:        (Seas) Unemployment Rate

Labor force status:  Unemployment rate

Type of data:        Percent or rate

Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 4.9 5.4 5.6 5.8 6.1 6.2 6.6 6.8 7.3
2009 7.8 8.2 8.6 8.9 9.4 9.5 9.5 9.7 9.8 10.1 9.9 9.9
2010 9.7 9.7 9.7 9.8 9.6 9.5 9.5 9.6 9.6 9.7 9.8 9.4
2011 9.0 8.9 8.8 9.0 9.1 9.2 9.1 9.1 9.1 9.0 8.6

Total Unemployment Rate U-6

15.6%

Series Id:           LNS13327709 Seasonally Adjusted

Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers

 Labor force status:  Aggregated totals unemployed

Type of data:        Percent or rate

Age:                 16 years and over

Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.1 8.0 8.2 8.2 8.3 8.4 8.5 8.4 8.4 8.5 8.8
2008 9.1 8.9 9.0 9.2 9.7 10.1 10.5 10.9 11.2 11.9 12.7 13.6
2009 14.1 15.0 15.6 15.8 16.4 16.6 16.5 16.8 17.0 17.4 17.1 17.2
2010 16.5 16.8 16.8 17.0 16.5 16.5 16.5 16.7 17.1 17.0 17.0 16.7
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.5 16.2 15.6

Background Articles and Videos

Employment Situation Summary

Transmission of material in this release is embargoed                        USDL-11-1691
until 8:30 a.m. (EST) Friday, December 2, 2011

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                         THE EMPLOYMENT SITUATION -- NOVEMBER 2011

The unemployment rate fell by 0.4 percentage point to 8.6 percent in November, and
nonfarm payroll employment rose by 120,000, the U.S. Bureau of Labor Statistics
reported today. Employment continued to trend up in retail trade, leisure and
hospitality, professional and business services, and health care. Government
employment continued to trend down.

Household Survey Data 
In November, the unemployment rate declined by 0.4 percentage point to 8.6 percent.
From April through October, the rate held in a narrow range from 9.0 to 9.2 percent.
The number of unemployed persons, at 13.3 million, was down by 594,000 in November.
The labor force, which is the sum of the unemployed and employed, was down by a
little more than half that amount. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men fell by 0.5
percentage point to 8.3 percent in November. The jobless rate for whites (7.6
percent) also declined, while the rates for adult women (7.8 percent), teenagers
(23.7 percent), blacks (15.5 percent), and Hispanics (11.4 percent) showed little
or no change. The jobless rate for Asians was 6.5 percent, not seasonally adjusted.
(See tables A-1, A-2, and A-3.)

In November, the number of job losers and persons who completed temporary jobs
declined by 432,000 to 7.6 million. The number of long-term unemployed (those
jobless for 27 weeks and over) was little changed at 5.7 million and accounted
for 43.0 percent of the unemployed. (See tables A-11 and A-12.)

The civilian labor force participation rate declined by 0.2 percentage point to
64.0 percent. The employment-population ratio, at 58.5 percent, changed little.
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred
to as involuntary part-time workers) dropped by 378,000 over the month to 8.5
million. These individuals were working part time because their hours had been
cut back or because they were unable to find a full-time job. (See table A-8.)

In November, 2.6 million persons were marginally attached to the labor force,
about the same as a year earlier. (The data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work, and
had looked for a job sometime in the prior 12 months. They were not counted as
unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)

Among the marginally attached, there were 1.1 million discouraged workers in
November, a decrease of 186,000 from a year earlier. (The data are not seasonally
adjusted.) Discouraged workers are persons not currently looking for work because
they believe no jobs are available for them. The remaining 1.5 million persons
marginally attached to the labor force in November had not searched for work in
the 4 weeks preceding the survey for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data 
Total nonfarm payroll employment increased by 120,000 in November, in line with the
average gain for the prior 12 months (+131,000). The private sector added 140,000
jobs, as employment rose in a number of service-providing industries. Government
employment continued to trend down. (See table B-1.)

Employment in retail trade rose by 50,000 in November, with much of the increase
occurring in clothing and clothing accessories stores (+27,000) and in electronics
and appliance stores (+5,000). Since reaching an employment trough in December 2009,
retailers have added an average of 14,000 jobs per month.

Employment in leisure and hospitality continued to trend up in November (+22,000).
Within the industry, food services and drinking places added 33,000 jobs. This gain
more than offset a loss of 12,000 jobs in the accommodation industry. In the last
12 months, leisure and hospitality added 253,000 jobs, largely driven by employment
increases in food services and drinking places.

Employment in professional and business services continued to trend up in November
(+33,000). Modest job gains continued in temporary help services.

Health care employment continued to rise in November (+17,000). Within the industry,
hospitals added 9,000 jobs. Over the past 12 months, health care has added an average
of 27,000 jobs per month.

Manufacturing employment changed little over the month and has remained essentially
unchanged since July. In November, fabricated metal products added 8,000 jobs, while
electronic instruments lost 2,000 jobs.

Construction employment showed little movement in November. Employment in the
industry has shown little change, on net, since early 2010.

Government employment continued to trend down in November, with a decline in the U.S.
Postal Service (-5,000). Employment in both state government and local government has
been trending down since the second half of 2008.

The average workweek for all employees on private nonfarm payrolls was unchanged at
34.3 hours in November. The manufacturing workweek was down by 0.2 hour to 40.3
hours, offsetting a 0.2 hour gain in the previous month. Factory overtime remained
at 3.2 hours in November. The average workweek for production and nonsupervisory
employees on private nonfarm payrolls edged down by 0.1 hour to 33.6 hours. (See
tables B-2 and B-7.)

Average hourly earnings for all employees on private nonfarm payrolls decreased in
November by 2 cents, or 0.1 percent, to $23.18. This decline followed a gain of 7
cents in October. Over the past 12 months, average hourly earnings have increased by
1.8 percent. In November, average hourly earnings of private-sector production and
nonsupervisory employees increased by 2 cents, or 0.1 percent, to $19.54. (See
tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised from
+158,000 to +210,000, and the change for October was revised from +80,000 to
+100,000.

_____________
The Employment Situation for December is scheduled to be released on Friday,
January 6, 2012, at 8:30 a.m. (EST).

Economy Creates 120,000 Jobs, Rate Tumbles to 8.6%

By: Jeff Cox

“…The rate fell from the previous month’s 9.0 percent, a move which in part reflected a drop in those looking for jobs. The participation rate dropped to 64 percent, from 64.2 percent in October, representing 315,000 fewer job-seekers.

The actual employment level increased by 278,000. The total amount of those without a job fell to 13.3 million.

The drop in participation rate is significant in that had the labor force remained steady, the jobless rate would have dropped to 8.8 percent, according to Citigroup calculations. If the labor force had followed trend growth, unemployment would be at 8.9 percent.

“Overall, the continued modest employment gains reflect an economy that plods along at an uninspiring pace,” Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in a statement. “These modest job gains are still not enough to propel economic growth to a sustainable 2 percent-plus growth path.”

The measure some refer to as the “real” unemployment rate, which counts discouraged workers, also took a fall to 15.6 percent from 16.2 percent, its lowest level since March 2009.

However, economists were treating the rate drops with skepticism.

“When the unemployment rate declines, we want to see both employment and participation increase as discouraged workers return to the labor force. Today, we got the former, but not the latter, making the 0.4 percent drop look a bit suspect,” Neil Dutta, US economist at Bank of America Merrill Lynch, told clients. “We would not be surprised to see the unemployment rate give back some of its decline in the coming month(s).” …”

http://www.cnbc.com/id/45521793

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13,500,000 Million Americans Unemployed in March 2011 Still Exceeds Great Depression High of 13,000,000 In March 1933–The Obama Depressions Continues–Bureau of Labor Statistics: 8.8% Official Unemployment Rate (U-3) vs. Gallup Unemployment Rate of 10.0%–Nonfarm Payroll Increased By 216,000–The Government Makes The Depression Worse!–Videos

Posted on April 1, 2011. Filed under: American History, Banking, Blogroll, Business, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Psychology, Public Sector, Resources, Security, Strategy, Talk Radio, Taxes, Technology, Unions, Video, War, Wealth | Tags: , , , , , , |

Give it a listen!

Pronk Pops Show 22 (Part 2)

April 08, 2011 11:16 AM PDT

Pronk Pops Show 22, April 7, 2011

Segment 1: 3,500,000 Million Americans Unemployed in March 2011 Still Exceeds Great Depression High of 13,000,000 In March 1933–The Obama Depressions Continues–Bureau of Labor Statistics: 8.8% Official Unemployment Rate (U-3) vs. Gallup Unemployment Rate of 10.0%–Nonfarm Payroll Increased By 216,000–The Government Makes The Depression Worse!–Videos

Segment 2: Obama’s Anti-American, Anti-Capitalist, Anti-Growth, Anti-Jobs, and Anti-Security Energy Policy–Videos

Segment 3: Republican Establishment Will Propose A Ten Year $6,200 Billion Cut In Spending Over Ten Years–The Problem Is It Does Not Balance The Budget For Another Five Years At The Earliest–Tea Party Movement Demands Balanced Budgets Starting In 2012 For The Next Ten Years!–A Jet Plane To Prosperity Not A Path To Prosperity–Videos

Segment 4: Just One More Thing Congressman Ryan: When Does The Republican’s Path To Prosperity Balance The Budget?–The Twelth of Never!–Videos

For additional information and videos on the above segments:

http://pronkpops.wordpress.com/2011/04/04/pronk-pops-show-22-april-5-2011-segment-113500000-million-americans-unemployed-in-march-2011-still-exceeds-great-depression-high-of-13000000-in-march-1933%E2%80%93the-obama-depressions-contin/

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 9.00 8.90 8.80
2010 9.70 9.70 9.70 9.90 9.70 9.50 9.50 9.60 9.60 9.60 9.80 9.40
2009 7.70 8.20 8.60 8.90 9.40 9.50 9.40 9.70 9.80 10.10 10.00 10.00
2008 5.00 4.80 5.10 5.00 5.40 5.50 5.80 6.10 6.20 6.60 6.90 7.40

* The table above displays the monthly average.

Employment Population Ratio

 

Unemployment Rate Falls to 8.8 Pct, Two-year Low

Porcelli Says Jobs Growth Rate Enough for U.S. Recovery

Raymond James’s Brown Says U.S. Jobs Data `Not Great’

216,000 Jobs Added In March, Unemployment Rate Falls to 8.8%

The Unemployment Game Show: Are You *Really* Unemployed?

The Shadow Unemployed

John Williams of Shadow Statistics (29-Dec-10)(FINANCE & ECONOMICS series)

http://www.gallup.com/poll/146900/Gallup-Finds-Unemployment-Rate-March.aspx

 

Data extracted on: April 1, 2011 (9:59:55 AM)

 

Labor Force Statistics from the Current Population Survey

 

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 4.9 5.4 5.6 5.8 6.1 6.2 6.6 6.8 7.3
2009 7.8 8.2 8.6 8.9 9.4 9.5 9.5 9.7 9.8 10.1 9.9 9.9
2010 9.7 9.7 9.7 9.8 9.6 9.5 9.5 9.6 9.6 9.7 9.8 9.4
2011 9.0 8.9 8.8

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.1 8.0 8.2 8.2 8.3 8.4 8.5 8.4 8.4 8.5 8.8
2008 9.1 8.9 9.0 9.2 9.7 10.1 10.5 10.9 11.2 11.9 12.7 13.6
2009 14.1 15.0 15.6 15.8 16.4 16.6 16.5 16.8 17.0 17.4 17.1 17.2
2010 16.5 16.8 16.8 17.0 16.5 16.5 16.5 16.7 17.1 17.0 17.0 16.7
2011 16.1 15.9 15.7

 

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.0 66.1 66.0 66.0 65.8 65.8
2009 65.7 65.7 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.1 65.0 64.7
2010 64.8 64.8 64.9 65.1 64.9 64.7 64.6 64.7 64.7 64.5 64.5 64.3
2011 64.2 64.2 64.2

 

Series Id:           LNS12300000
Seasonally Adjusted
Series title:        (Seas) Employment-Population Ratio
Labor force status:  Employment-population ratio
Type of data:        Percent or rate
Age:                 16 years and over

 

 

Creating the Next Great Depression | Thomas J. DiLorenzo

 

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*UPDATE* Why You’ve Never Heard of the Great Depression of 1920 Thomas E. Woods, Jr.

 

U.S. Unemployment rate from 1910-1960, with the years of the Great Depression (1929-1939) highlighted

 

:.

Data for 1910-1930 from Christina Romer (1986), “Spurious Volatility in Historical Unemployment Data”, The Journal of Political Economy, 94(1): 1-37. Data for 1930-1940 from Robert M. Coen (1973). “Labor Force and Unemployment in the 1920′s and 1930′s: A Re-Examination Based on Postwar Experience”, The Review of Economics and Statistics, 55(1): 46-55. Data for 1940-1960 from the US Bureau of Labor Statistics, Employment status of the civilian noninstitutional population, 1940 to date ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt, retrieved March 6, 2009.

 

Background Articles and Videos

THE EMPLOYMENT SITUATION — MARCH 2011

Nonfarm payroll employment increased by 216,000 in March, and the unemployment
rate was little changed at 8.8 percent, the U.S. Bureau of Labor Statistics
reported today. Job gains occurred in professional and business services, health
care, leisure and hospitality, and mining. Employment in manufacturing continued
to trend up.

Household Survey Data

The number of unemployed persons (13.5 million) and the unemployment rate (8.8
percent) changed little in March. The labor force also was little changed over
the month. Since November 2010, the jobless rate has declined by 1.0 percentage
point. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (8.6 percent),
adult women (7.7 percent), teenagers (24.5 percent), whites (7.9 percent), blacks
(15.5 percent), and Hispanics (11.3 percent) showed little change in March. The
jobless rate for Asians was 7.1 percent, not seasonally adjusted. (See tables A-1,
A-2, and A-3.)

The number of job losers and persons who completed temporary jobs, at 8.2 million,
was little changed in March but has fallen by 1.3 million since November 2010.
The number of long-term unemployed (those jobless for 27 weeks or more) was 6.1
million in March; their share of the unemployed increased from 43.9 to 45.5 percent
over the month. (See tables A-11 and A-12.)

In March, the civilian labor force participation rate held at 64.2 percent, and the
employment-population ratio, at 58.5 percent, changed little. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred
to as involuntary part-time workers) was little changed in March, at 8.4 million.
These individuals were working part time because their hours had been cut back or
because they were unable to find a full-time job. (See table A-8.)

In March, 2.4 million persons were marginally attached to the labor force, up
slightly from a year earlier. (These data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work, and
had looked for a job sometime in the prior 12 months. They were not counted as
unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)

Among the marginally attached, there were 921,000 discouraged workers in March,
little changed from a year earlier. (These data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they
believe no jobs are available for them. The remaining 1.5 million persons
marginally attached to the labor force in March had not searched for work in
the 4 weeks preceding the survey for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 216,000 in March. Job gains occurred
in several service-providing industries and in mining, and manufacturing employment
continued to trend up. Since a recent low in February 2010, total payroll employment
has grown by 1.5 million. (See table B-1.)

In March, employment in the service-providing sector continued to expand, led
by a gain of 78,000 in professional and business services. Most of the gain
occurred in temporary help services (+29,000) and in professional and technical
services (+35,000).

Health care employment continued to increase in March (+37,000). Over the last
12 months, health care has added 283,000 jobs, or an average of 24,000 jobs per
month.

Employment in leisure and hospitality rose by 37,000 over the month, with more than
two-thirds of the increase in food services and drinking places (+27,000).

Manufacturing employment continued to trend up in March (+17,000). Job gains were
concentrated in two durable goods industries–fabricated metal products (+8,000)
and machinery (+5,000). Employment in durable goods manufacturing has risen by
243,000 since its most recent low in December 2009.

In March, employment in mining increased by 14,000, with much of the gain occurring
in support activities for mining (+9,000).

Employment in local government continued to trend down over the month. Local government
has lost 416,000 jobs since an employment peak in September 2008.

The average workweek for all employees on private nonfarm payrolls was unchanged at
34.3 hours in March. The manufacturing workweek for all employees edged down by 0.1
hour to 40.5 hours, while factory overtime was unchanged at 3.3 hours. The average
workweek for production and nonsupervisory employees on private nonfarm payrolls
increased by 0.1 hour to 33.6 hours. (See tables B-2 and B-7.)

In March, average hourly earnings for all employees on private nonfarm payrolls were
unchanged at $22.87. Over the past 12 months, average hourly earnings have increased
by 1.7 percent. Average hourly earnings of private-sector production and nonsupervisory
employees edged down by 2 cents over the month to $19.30. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised from +63,000
to +68,000, and the change for February was revised from +192,000 to +194,000.

____________
The Employment Situation for April is scheduled to be released on Friday, May 6, 2011,
at 8:30 a.m. (EDT).

http://bls.gov/news.release/empsit.nr0.htm

“Black Swan” Events Precursor to US Stagflation?

In 1965, the British economy faced a two-pronged assault: weak growth coupled with rapidly rising consumer prices. A British Parliamentarian described this paradox by mashing together “stagnant” and “inflation” to come up with “stagflation”. The term immediately became a fixture in the financial lexicon and has been striking fear in the hearts of government officials ever since.

Stagflation is the most terrifying of economic circumstances because it is the most difficult condition to combat. On the one hand you have a slowing economy which calls for an easing of monetary policy to encourage spending. On the other hand, you have inflation spurred on by rapidly rising prices. To deal with inflation, the standard approach is to tighten monetary policy by raising rates to discourage spending. This inherent contradiction makes it difficult to implement an effective policy against stagflation.


“We now have the worst of both worlds – not just inflation on the one side or stagnation on the other. We have sort of ‘stagflation’ situation.”
British Member of Parliament
Iain MacLeod


How is it possible for an economy to be in such a conflicting state? Certainly this is not a common occurrence, but given the right conditions and an event that causes an extraordinary shock to the economy, both conditions may exist simultaneously. Some analysts suggest we are close to experiencing those conditions now. …”

http://forexblog.oanda.com/20110328/black-swan-events-precursor-to-us-stagflation/

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The Battle For The World Economy–Videos

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously!

Barlett Boo Boos–Boortz Blasts Back

President Doom and Panic Obama’s Big Lie: More Government Spending Works and Tax Cuts Do Not Work

Health Care Policy

Yaron Brook Capturing the Moral High Ground –Why Only Private Health Care is Moral?–Health Care Reform Policy: Diagnosing the Problems and Prescribing the Cure

Obama’s Big Whopper–”The largest deficit reduction plan in a decade.”–Delusional Deceitful Democrats–Massive Tax Increases and Economy Wrecker–Health Care Bill If Passed Is Unconstitutional!

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted ACORN Felon Richard Creamer!

Obama’s Trick On The American People: Health Insurance Reform=Huge Hikes in Taxes and Premiums for Health Insurance and Massive Medicare Funding and Payment Reimbursement Cuts–Congressional Coercion–It’s Alive!

Second Opinion: Doctors Speak Up On Proposed Health Care Reform–And A Third Texas Opinion!–Videos

American Citizens Want Jobs and Criminal Alien Removal, Not Criminal Alien Census and Health Care!

Illegal Aliens Can Buy Health Insurance Plans–No ID Needed:–Demand Criminal Alien Removal and Deportation!

Congressman Paul Ryan–Townhall Meeting–Health Care Reform and The Patients Choice Act–Videos

The Arrogance of President Obama: Hectoring Habitual Liar

Public Option = Government Option = Pathway to Single Payer = Single Payer = Socialized Medicine = Blue Pill = Poison Pill

Obama: First We Kill The Babies, Then We Kill The Elderly, Then We Kill The Veterans–Your Life, Your Choices–Your Time Is Up!

This Joker Is A Lost Cause: Keeping President Obama Honest on Health Care–Let’s But A Smile On That Face–Staying Alive

Fact 1. Federal Government Health Insurance Is Compulsory–Kill The Bill–H.R. 3200

Patient Empowerment: Health Savings Accounts–High Deductible Catastrophic Health Insurance–Affordable, Portable, Fair, Individual Health Care Plan–Consumer Driven Health Care Reform!

The Dangers Of A Single Payer Health Care System: Ronald Reagan On Socialized Medicine and Friedrich A. Hayek On State Monopoly

The American People Believe The Government Public Option Plan Is The Path To The Single Payer Government Plan–Socialized Medicine–Obama Caught Lying To The American People!

The Small Business and Self-Employed Perspective on Health Care Reform

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Obama’s Waterloo– Government Compulsory Single Payer Socialized Medicine!–Videos

President Obama’s Plan of Massive Deficit Spending Is Destroying The US Economy–The American People Say Stop Socialism BS Now!

Chairman Obama’s Progressive Radical Socialist Health Care Bill Kills Individual Private Health Care Insurance–Join The Second American Revolution!

The Obama Big Lie and Inconvenient Truth About Health Care–The Public Option Trojan Horse–Leads To A Single Payor Goverment Monopoly of Health Care and The Bankruptcy of USA!

The Obama Public Option Poison Pill For A Government Health Care Monopoly–Single Payer System–Betting Your Life and Paying Though The Nose

John Stossel–Sick In America–Videos

Monetary Economic Policy

Pushing On A G-String–No Job Recovery And Declining Prices Results In Federal Reserve Buying Govenment Debt To Spur Economic Growth By Expanding Money Supply–Videos

Fiat Empire–Why The Federal Reserve Violates The U.S. Constitution–Videos

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

The Battle Between Keynes and Monetarism in the UK–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

The Big Economic Picture–Some Perspectives–Videos

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Thomas E. Woods, Jr.–Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Other

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

The Financial Crime of The Century: William K. Black On Massive Mortgage Fraud –Videos

US Federal Government Fails Stress Test–Insolvent: Time Has Arrived For Downsizing–Departments and Subsidies To Be Eliminated!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Barack Obama America’s Puppet President Pinocchio –The Transparent Lies–Ears and Nose Are Growing?

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C., Saturday, July 4 2009! Revised and Updated

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

Celebrate Independence Day By Rallying Your Family, Friends and Community At An Ice Tea Party!

The Obama Depression (OD) Starts July 4, 2009–30 Million Americans March To Tea Parties In Washington D.C. and Over 1,000 Cities and Towns Across America!

Liberty Launch Countdown to The Celebration of Independence Day–Saturday, July 4, 2009–Ice Tea Party Time To Freeze Government Expenditures, Deficits, Debts and Taxes–Expect 30 Million Nationally in 1,000 Cities and Towns and 1 Million in Washington D.C.!

Independents Lead The The Second American Revolution Surge–Independence Day–Saturday July 4, 2009 In Washington D.C.–Tea Party Time–On To Washington–Dare You To Move!

American People’s Household Stimulus Package Check–Please Call Today–Ask: Where is My Household Check for $7,044.24! I want my money back!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009


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Gallup–U.S. Unemployment Hits 10.3% In February 2011 Vs. Bureau of Labor Statistics (BLS) U.S. Unemployment Rate Declined By .1% To 8.9% in February 2011 With Job Creation of 192,000 In February 2011–Over 13.7 Million Americans Unemployed More Than Worse Month of Great Depression!– Videos

Posted on March 4, 2011. Filed under: Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Talk Radio, Video, Wisdom | Tags: , , , , , , , , |

 

Gallup Finds U.S. Unemployment Hitting 10.3% in February

“…Unemployment, as measured by Gallup without seasonal adjustment, hit 10.3% in February — up from 9.8% at the end of January. The U.S. unemployment rate is now essentially the same as the 10.4% at the end of February 2010. …”

http://www.gallup.com/poll/146453/Gallup-Finds-Unemployment-Hitting-February.aspx

 

US Unemployment Drops to 8.9 Percent

 

Adecco Group’s workplace economy – March 2011 

 

US unemployment rate drops to 8.9% – Press TV News

 

Peter Schiff Video Blog – March 4, 2011

 

Payrolls Rose 192,000; Jobless Rate at 8.9% in February

 

Silvia Says Unemployment, Inflation Will Challenge Fed

 

Maki Sees U.S. Unemployment Rate Below 8.5% by Year End

 

Pre-Market Movers: March 4th, 2011

 

 

Gross Says Inflation Matters More Than Bernanke Suggests

 The progressive radical socialist economic policies of the Obama Administration and the Democratic Party have utterly failed in the creation of new jobs and wealth resulting in the continuation of the Great Recession soon to become the Obama Depression.

Comparing the first full month that Obama was President two years latter paints a picture of the big fail.

In February 2009 the employment level in the United States was approximately 141.6 million.

In February 2011 the employment level in the United States was approximately 139.5 million.

Two years of the Obama Administration has resulted in the  decline of the employment level of approximately 1.6 million.

 In February 2009 the civilian level force in the United States was approximately 154.4 million.

In February 2011 the employment level in the United States was approximately 153.2 million.

Two years of the Obama Administration has resulted in the  decline of the civilian labor force of approximately 1.6 million.

 In February 2009 the labor force participation rate in the United States was approximately 65.7%.

In February 2011 the labor force participation rate in the United States was approximately 64.2%

Two years of the Obama Administration has resulted in the  decline of the labor force participation rate of 1.5%.  

In February 2009 the unemployment level in the United States was approximately 12.7 million.

In February 2011 the unemployment level in the United States was approximately 13.6 million.

Two years of the Obama Administration has resulted in the  increase of the unemployment level of approximately .9 million. 

 In February 2009 the official unemployment  rate (U-3) in the United States was approximately 8.2%.

In February 2011 the official unemployment rate (U-3) in the United States was approximately 8.9%.

Two years of the Obama Administration has resulted in the  increase of the official unemployment rate (U-3) of approximately .7%.

In February 2009 the total unemployment  rate (U-6) in the United States was approximately 15.0%.

In February 2011 the total unemployment rate (U-6) in the United States was approximately 15.9%.

Two years of the Obama Administration has resulted in the  increase of the total unemployment rate (U-6) of approximately .7%.

The actual unemployment rate which would include long-term discourage workers that are excluded by the BLS unemployment U-6 series is now over 20% owith over 30 million Americans that are either unemployed or underemployed. The Great Recession is fast become the Obama Depression and no amount of political manipulation of the unemployment statistics will persuade the American people otherwise.

“…The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment. …”

http://www.shadowstats.com/alternate_data/unemployment-charts

Background Articles and Videos

John Williams Hyperinflation to come in the next couple months

Ecconomist John Williams of Shadow Statistics on Radio Liberty 12-29-10

 

Bureau of Labor Statistics, Department of Labor

 http://data.bls.gov/pdq/SurveyOutputServlet

 

 Employment Level

Labor Force Statistics from the Current Population Survey

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed Age: 16 years and over
Type of data:        Number in thousands


                

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047  
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426  
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411  
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125  
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752  
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970  
2007 146033(1) 146066 146334 145610 145901 146058 145886 145670 146231 145937 146584 146272  
2008 146407(1) 146183 146143 146173 145925 145725 145479 145167 145056 144778 144068 143324  
2009 142201(1) 141687 140822 140720 140292 139978 139794 139409 138791 138393 138590 137960  
2010 138511(1) 138698 138952 139382 139353 139092 138991 139267 139378 139084 138909 139206  
2011 139323(1) 139573                      
1 : Data affected by changes in population controls.

 

Civilian Labor Force

  Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305  
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066  
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729  
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059  
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030  
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732  
2007 153133(1) 152966 153054 152446 152666 153038 153035 152756 153422 153209 153845 153936  
2008 154060(1) 153624 153924 153779 154322 154315 154432 154656 154613 154953 154621 154669  
2009 154185(1) 154424 154100 154453 154805 154754 154457 154362 153940 154022 153795 153172  
2010 153353(1) 153558 153895 154520 154237 153684 153628 154117 154124 153960 153950 153690  
2011 153186(1) 153246                      
1 : Data affected by changes in population controls.

 

Unemployment Level (U-3) 

Series Id:           LNS13000000 Seasonally Adjusted Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258  
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640  
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317  
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934  
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279  
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762  
2007 7100 6900 6721 6836 6766 6980 7149 7085 7191 7272 7261 7664  
2008 7653 7441 7781 7606 8398 8590 8953 9489 9557 10176 10552 11344  
2009 11984 12737 13278 13734 14512 14776 14663 14953 15149 15628 15206 15212  
2010 14842 14860 14943 15138 14884 14593 14637 14849 14746 14876 15041 14485  
2011 13863 13673                      

 

 

Labor Force Participation Rate

 
Series Id:           LNS11300000 Seasonally Adjusted Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7  
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3  
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9  
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9  
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0  
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4  
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0  
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.0 66.1 66.0 66.0 65.8 65.8  
2009 65.7 65.7 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.1 65.0 64.7  
2010 64.8 64.8 64.9 65.1 64.9 64.7 64.6 64.7 64.7 64.5 64.5 64.3  
2011 64.2 64.2                      

 

Unemployment Level

  

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258  
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640  
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317  
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934  
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279  
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762  
2007 7100 6900 6721 6836 6766 6980 7149 7085 7191 7272 7261 7664  
2008 7653 7441 7781 7606 8398 8590 8953 9489 9557 10176 10552 11344  
2009 11984 12737 13278 13734 14512 14776 14663 14953 15149 15628 15206 15212  
2010 14842 14860 14943 15138 14884 14593 14637 14849 14746 14876 15041 14485  
2011 13863 13673                      

 

Unemployment Rate (U-6)

  

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9  
2007 8.4 8.1 8.0 8.2 8.2 8.3 8.4 8.5 8.4 8.4 8.5 8.8  
2008 9.1 8.9 9.0 9.2 9.7 10.1 10.5 10.9 11.2 11.9 12.7 13.6  
2009 14.1 15.0 15.6 15.8 16.4 16.6 16.5 16.8 17.0 17.4 17.1 17.2  
2010 16.5 16.8 16.8 17.0 16.5 16.5 16.5 16.7 17.1 17.0 17.0 16.7  
2011 16.1 15.9                      

 

Employment Situation Summary

Transmission of material in this release is embargoed USDL-11-0271 until 8:30 a.m. (EST) Friday, March 4, 2011 Technical information: Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces Media contact: (202) 691-5902 * PressOffice@bls.gov THE EMPLOYMENT SITUATION -- FEBRUARY 2011 Nonfarm payroll employment increased by 192,000 in February, and the unemployment
rate was little changed at 8.9 percent, the U.S. Bureau of Labor Statistics re- ported today. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing. Household Survey Data The number of unemployed persons (13.7 million) and the unemployment rate (8.9 percent) changed little in February. The labor force was about unchanged over the month. The jobless rate was down by 0.9 percentage point since November 2010. (See table A-1.) Among the major worker groups, the unemployment rates for adult men (8.7 percent), adult women (8.0 percent), teenagers (23.9 percent), whites (8.0 percent), blacks (15.3 percent), and Hispanics (11.6 percent) showed little or no change in February. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.) The number of job losers and persons who completed temporary jobs, at 8.3 million, continued to trend down in February and has fallen by 1.2 million over the past 12 months. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.0 million and accounted for 43.9 percent of the unemployed. (See tables A-11 and A-12.) Both the civilian labor force participation rate, at 64.2 percent, and the employ- ment-population ratio, at 58.4 percent, were unchanged in February. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 8.3 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.) In February, 2.7 million persons were marginally attached to the labor force, up
from 2.5 million a year earlier. (These data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work, and
had looked for a job sometime in the prior 12 months. They were not counted as
unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)

Among the marginally attached, there were 1.0 million discouraged workers in February,
a decrease of 184,000 from a year earlier. (These data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe no
jobs are available for them. The remaining 1.7 million persons marginally attached to the labor force in February had not searched for work in the 4 weeks preceding the sur- vey for reasons such as school attendance or family responsibilities. (See table A-16.) Establishment Survey Data Total nonfarm payroll employment rose by 192,000 in February. Job gains occurred in manufacturing, construction, and several service-providing industries. Since a recent low in February 2010, total payroll employment has grown by 1.3 million, or an average of 106,000 per month. (See table B-1.) Manufacturing employment rose by 33,000 in February. Almost all of the gain occurred in durable goods industries, including machinery (+9,000) and fabricated metal pro- ducts (+7,000). Manufacturing has added 195,000 jobs since its most recent trough in December 2009; durable goods manufacturing added 233,000 jobs during this period. Construction employment grew by 33,000 in February, following a decline of 22,000 in January that may have reflected severe winter weather. Within construction, specialty trade contractors accounted for the bulk of the February job gain (+28,000). Employment in the service-providing sector continued to expand in February, led by a gain of 47,000 in professional and business services. Employment services added 29,000 jobs, and employment rose by 7,000 in management and technical consulting. Within employment services, the number of jobs in temporary help services edged up over the month. Health care employment continued to increase in February (+34,000). Over the prior 12 months, health care had added 260,000 jobs, or an average of 22,000 jobs per month. Transportation and warehousing employment increased by 22,000 in February, with half of that gain in truck transportation (+11,000). Employment in both state and local government edged down over the month. Local govern- ment has lost 377,000 jobs since its peak in September 2008. The average workweek for all employees on private nonfarm payrolls was unchanged at 34.2 hours in February. The manufacturing workweek for all employees rose by 0.1 hour to 40.5 hours, while factory overtime rose by 0.2 hour to 3.3 hours. The average work- week for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.5 hours. (See tables B-2 and B-7.) In February, average hourly earnings for all employees on private nonfarm payrolls increased by 1 cent to $22.87. Over the past 12 months, average hourly earnings have increased by 1.7 percent. In February, average hourly earnings of private-sector pro- duction and nonsupervisory employees were unchanged at $19.33. (See tables B-3 and B-8.) The change in total nonfarm payroll employment for December was revised from +121,000 to +152,000, and the change for January was revised from +36,000 to +63,000. ___________ The Employment Situation for March is scheduled to be released on Friday, April 1, 2011, at 8:30 a.m. (EDT).

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Insanity Economics–Stimulus Kicks In–Total Unemployment Rate (U-6) Jumps Up To 16.7% with 25.7 Million Americans Seeking Full Time Employment!

Posted on September 3, 2010. Filed under: Blogroll, Economics, Federal Government, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, People, Philosophy, Politics, Rants, Raves, Video, Wisdom | Tags: , , , , , , |

“Insanity: doing the same thing over and over again and expecting different results.”

~Albert Einstein

Companies Add 67K Workers, but Jobless Rate Rise

http://www.shadowstats.com/alternate_data/unemployment-charts

Official Unemployment Rate (U-3)

If you are one of the 25 million Americans seeking a full-time job, the August 2010 unemployment report from the Department of Labor’s Bureau of Labor statistics was discouraging.

The Bureau of Labor Statistics reported that in August, 2010, the official unemployment rate (U-3) rose from 9.5% in July to 9.6 % in August with 14.9 million Americans unemployed.

Real Total Unemployment Rate (U-6)

The real total unemployment rate (U-6)  also rose from 16.5%  in July to 16.7% in August with 25.7 million Americans seeking full-time employment.

If you are young, black or Hispanic, the unemployment rate is considerably high.

The unemployment rate for young workers ages 16 through 19 years rose from 26.1% in July to 26.3% in August.

For black or African Americans the unemployment rate also rose from   15.6% in July to 16.3   in August.

For Hispanics the unemployment rate decreased from  12.1% in July  to 12.0%  in August.

To put these rate of unemployment in historical perspective the graph below shows the U-3 and U-6 unemployment rates from 1900 through 2009:


Source: Historical Unemployment In Relation Today By N. Andrews

http://www.scribd.com/doc/13282170/Unemployment-1930s-vs-Today

The Department of Labor, Bureau or Labor Statistics, publishes several unemployment rates series of data including:

  • U-1: Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
  • U-2: Job losers and persons who completed temporary jobs, as a percent of the civilian labor force
  • U-3: Total unemployed, as a percent of the civilian labor force (official unemployment rate)
  • U-4: Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers
  • U-5: Total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers
  • U-6: Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers

Marginally attached workers: In the United States, persons not in the labor force who want and are available for a job and who have looked for work sometime in the past 12 months (or since the end of their last job if they held one within the past 12 months), but who are not currently looking, are designated as “marginally attached to the labor force.”

The marginally attached are divided into those not currently looking because they believe their search would be futile—so-called “discouraged workers”—and those not currently looking for other reasons such as family responsibilities, ill health, or lack of transportation.

Source: Bureau of Labor Statistics

Each month there are new entrants into the labor market as students either  graduate  from high school and college or drop-out and look for jobs for the first time. The United States needs to add approximately 150,000 jobs each month to keep the unemployment rate constant. There are currently approximately 154 million individuals in the civilian labor force. Each month to reduce the unemployment rate by .1%, a total of about 300,000 new jobs needs to be created.

In August the employment level increased from 138,960,000 in July to 139,250 or an increase of 290,000. When President Obama took office in January 2009 the employment level was 142,221,000. The so-called stimulus bill  was suppose to limit the unemployment rate to a maximum of 8%. Instead the unemployment rate hit 10.1% in October 2009 and is expected to go over 10% in the coming months and be over 9% for two years or more.The stimulus package has failed to create jobs. Proposing another stimulus package would only make matters worse and prolong the recession.

Both the Bush and Obama expansion of the size and scope of the Federal Government and the passage of so-called government spending stimulus packages have resulted in less private  investment and job creation by businesses. Business owners will not expand or grow their businesses when they lack confidence in the economic policies of the Federal Government. Economists call this regime uncertainty. This happened during the Great Depression that began with Hoover in 1930 and continued with Roosevelt from 1933 and through 1945.  During World War II the unemployment level did fall dramatically as million of men were drafted to fight the war and men and women were employed to produce the weapons and munitions of war. However, prosperity did not return until 1946 when Federal Government spending was dramatically cut.

Government stimulus spending (Keynesian Economics) to increase economic growth and jobs did not work for Presidents Hoover, Roosevelt, Ford, Bush, and Obama. Keynesian economics is insanity economics–doing the same thing over and over again and expecting different results.

Instead, President Obama is seriously considering raising taxes by letting the Bush tax cuts expire in 2010,  proposing another stimulus package and a cap-and-trade energy tax or alternatively a new additional tax, the value added tax.If implemeneeded the economic consequences will be another depression–the Obama Depression.  No mention is ever made of cutting the size, scope and burden of the Federal Government, which is the real source of the problem. Government interventionism in the form of  fiscal and monetary policies caused both the financial and economic crisis we are currently in. More of the same economic policies is insanity economics. The Keynesian economists are running the asylum.

If you are a high school or college student stay in school and complete your education. Go to your local college career services office to obtain assistance in writing cover letters and resumes and finding employment. Do not be discouraged if it takes longer to find a job. Just keep sending out those resumes and networking and sooner or latter you will find a job.

“Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.”

~Ludwig von Mises, Socialism, page 440

Ron Paul EXPOSES the Real GDP and Unemployment Numbers

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Stimulus II: A Sequel America Can’t Afford

Dan Mitchell on whether Obama’s economic team should resign

Dan Mitchell on Entitlement Spending

Dan Mitchell on Taxing the Rich

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

Smashing Myths and Restoring Sound Money | Thomas E. Woods, Jr.

Best Books Criticizing Keynesian Economics | David Gordon

Background Articles and Videos

Types of Unemployment and the Natural Rate of Unemployment- Key Macro Concepts

(Macro) Episode 18: Unemployment

(Macro) Episode 19: Unemployment


Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614  
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047  
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426  
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411  
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125  
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752  
2006 143142(1) 143444 143765 143794 144108 144370 144229 144631 144797 145292 145477 145914  
2007 146032(1) 146043 146368 145686 145952 146079 145926 145685 146193 145885 146483 146173  
2008 146421(1) 146165 146173 146306 146023 145768 145515 145187 145021 144677 143907 143188  
2009 142221(1) 141687 140854 140902 140438 140038 139817 139433 138768 138242 138381 137792  
2010 138333(1) 138641 138905 139455 139420 139119 138960 139250          
1 : Data affected by changes in population controls.

Civilian Labor Force Level

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over



Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248  
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305  
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066  
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729  
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059  
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030  
2006 150201(1) 150629 150839 150915 151085 151368 151383 151729 151650 152020 152360 152698  
2007 153117(1) 152941 153093 152531 152717 153045 153039 152781 153393 153158 153767 153869  
2008 154048(1) 153600 153966 153936 154420 154327 154410 154696 154590 154849 154524 154587  
2009 154140(1) 154401 154164 154718 154956 154759 154351 154426 153927 153854 153720 153059  
2010 153170(1) 153512 153910 154715 154393 153741 153560 154110          
1 : Data affected by changes in population controls.

Labor Force Participation Rate


Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0  
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7  
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3  
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9  
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9  
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0  
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4  
2007 66.4 66.3 66.3 66.0 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0  
2008 66.2 66.0 66.1 66.0 66.2 66.1 66.0 66.1 66.0 66.0 65.8 65.8  
2009 65.7 65.7 65.6 65.8 65.8 65.7 65.4 65.4 65.1 65.0 64.9 64.6  
2010 64.7 64.8 64.9 65.2 65.0 64.7 64.6 64.7          

Unemployment Level

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634  
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258  
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640  
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317  
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934  
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279  
2006 7059 7185 7075 7122 6977 6998 7154 7097 6853 6728 6883 6784  
2007 7085 6898 6725 6845 6765 6966 7113 7096 7200 7273 7284 7696  
2008 7628 7435 7793 7631 8397 8560 8895 9509 9569 10172 10617 11400  
2009 11919 12714 13310 13816 14518 14721 14534 14993 15159 15612 15340 15267  
2010 14837 14871 15005 15260 14973 14623 14599 14860          

Unemployment Rate

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9  
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7  
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0  
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7  
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4  
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9  
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4  
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0  
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4  
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0  
2010 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6          

Total Unemployment Rate

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 8.0  
2007 8.3 8.1 8.0 8.2 8.2 8.2 8.3 8.5 8.4 8.4 8.5 8.8  
2008 9.1 8.9 9.0 9.2 9.7 10.0 10.5 10.9 11.2 11.9 12.8 13.7  
2009 14.0 15.0 15.6 15.8 16.4 16.5 16.4 16.8 17.0 17.4 17.2 17.3  
2010 16.5 16.8 16.9 17.1 16.6 16.5 16.5 16.7          

16--19 years olds Unemployment Rate

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2  
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0  
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9  
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2  
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6  
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9  
2006 15.2 15.3 16.1 14.6 14.0 15.7 15.9 16.1 16.3 15.2 14.9 14.7  
2007 14.8 14.9 14.9 15.6 15.9 16.2 15.3 16.0 16.0 15.5 16.2 16.9  
2008 17.8 16.5 16.0 15.6 18.9 19.0 20.8 18.9 19.3 20.3 20.3 20.8  
2009 20.9 21.8 22.0 21.8 23.2 24.3 24.5 25.7 26.1 27.6 26.8 27.1  
2010 26.4 25.0 26.1 25.4 26.4 25.7 26.1 26.3          

Black or African American Unemployment Rate


Series Id:           LNS14000006
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Black or African American
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Race:                Black or African American

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 8.2 8.1 7.4 7.0 7.7 7.8 7.7 7.9 7.3 7.3 7.3 7.4  
2001 8.2 7.7 8.3 8.0 7.9 8.3 8.0 9.1 8.9 9.5 9.8 10.1  
2002 10.0 9.9 10.5 10.7 10.2 10.5 9.8 9.8 9.7 9.8 10.7 11.3  
2003 10.5 10.7 10.3 10.9 10.9 11.5 10.9 10.9 11.1 11.4 10.2 10.1  
2004 10.4 9.7 10.3 9.8 10.1 10.2 11.0 10.5 10.3 10.8 10.7 10.7  
2005 10.6 10.9 10.5 10.3 10.1 10.2 9.2 9.7 9.4 9.1 10.6 9.2  
2006 8.9 9.4 9.5 9.4 8.7 8.8 9.5 8.8 9.0 8.5 8.6 8.3  
2007 8.0 8.0 8.3 8.3 8.3 8.4 8.0 7.7 8.1 8.5 8.5 9.0  
2008 9.2 8.3 9.1 8.6 9.6 9.4 9.9 10.8 11.4 11.3 11.5 12.1  
2009 12.8 13.5 13.5 15.0 15.0 14.8 14.7 15.2 15.5 15.7 15.6 16.2  
2010 16.5 15.8 16.5 16.5 15.5 15.4 15.6 16.3          

Hispanic or Latino Unemployment Rate

Series Id:           LNS14000009
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Hispanic or Latino
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Ethnic origin:       Hispanic or Latino

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5.6 5.7 6.1 5.5 5.8 5.6 5.8 5.9 5.8 5.1 6.0 5.7  
2001 5.8 6.1 6.2 6.4 6.3 6.6 6.2 6.5 6.7 7.1 7.3 7.7  
2002 7.8 7.0 7.5 8.0 7.1 7.4 7.4 7.5 7.4 7.9 7.8 7.9  
2003 7.9 7.6 7.8 7.6 8.1 8.4 8.1 7.7 7.3 7.4 7.5 6.6  
2004 7.4 7.4 7.5 7.1 7.0 6.6 6.9 6.8 6.9 6.7 6.7 6.5  
2005 6.2 6.4 5.8 6.4 5.9 5.7 5.5 5.8 6.5 5.9 6.2 6.1  
2006 5.7 5.5 5.2 5.3 4.9 5.2 5.2 5.3 5.5 4.7 5.1 5.0  
2007 5.7 5.2 5.1 5.4 5.8 5.6 5.9 5.5 5.8 5.6 5.8 6.3  
2008 6.4 6.2 6.9 6.9 6.9 7.7 7.5 8.0 8.0 8.9 8.8 9.4  
2009 9.9 11.0 11.6 11.4 12.7 12.3 12.4 13.0 12.7 13.1 12.7 12.9  
2010 12.6 12.4 12.6 12.5 12.4 12.4 12.1 12.0          

The US Unemployment Rate
January 1948 to July 2010

http://www.miseryindex.us/URbymonth.asp

A portrait of the youth labor

market in 13 countries, 1980–2007

Gary Martin
Gary Martin is an economist in the Division of International Labor Comparisons, Bureau of Labor Statistics. E-mail: ILChelp@bls.gov

"...A relatively high unemployment rate for young people has been a persistent problem in industrialized countries

in recent decades; still, the number of youths who are unemployed has been falling with declining youth

populations and more years spent in education. ..."

"...Youth unemployment rates are relatively higher for a number of reasons.7

First, young people are among the most vulnerable during an economic downturn when workers are being laid off and there are hiring slowdowns or freezes. Youths typically have the least seniority, the least work experience, and the least amount of company training invested in them, and they are more likely to be working on a short-term contract.8 They are, therefore, the most likely to be let go. Indeed, even if, on the one hand, there were no layoffs at all, but only a general hiring freeze, unemployment among young people would still grow as they attempted to move from school into the labor force upon completing their education; and if, on the other hand, employers were forced by economic conditions simply to be more discriminating in their hiring, those with no experience or with very little experience would be the least likely to be hired, and these, too, are most likely to be the young. Numerous studies have shown that youth unemployment rates are more sensitive to the business cycle than are adult unemployment rates.9

Second, whatever the state of the economy, young people simply have less experience in looking for work. Lack of experience at work is counteracted to a degree by the willingness and ability of youths to work for less money, but lack of experience in the process of finding a job is not.

Third, young people, generally with fewer resources than older workers and a stronger financial attachment to family, tend to be less mobile. Consequently, they are somewhat less able or willing to move to places where more jobs might be available. This is especially true for those in the 15- to 19-year-old category, and in countries where attachment to home is particularly strong, the more important that factor would be.

Fourth, young people, with fewer financial obligations and often with family support, can typically afford to take immediate employment less seriously—especially as family sizes have shrunk and the pressure to get a job to help support the family has subsided. The younger the prospective workers, the less serious they tend to be about paid work. If they are students, the jobs they are likely to get, or to lose, are typically not full-time, career-track jobs, and they usually pay very little. Young people sacrifice less by passing up such jobs than do older people, whose search for employment is typically for career-type jobs. Whether the jobs are career track jobs or not, young people with financial support from parents can usually afford to wait longer for just the right job to come along. Thus, in this instance, a higher rate of unemployment actually may reflect economic strength, rather than economic weakness, for youths.10..."

http://www.bls.gov/opub/mlr/2009/07/art1full.pdf

Current Employment Statistics - CES (National)

Frequently Asked Questions (FAQs)

The CES Survey: Concepts and Scope

  1. What is the establishment payroll survey?
  2. What is the CES definition of employment?
  3. Are part time employees counted in your survey?
  4. Who is included in data for production and nonsupervisory employees?
  5. How do reservists impact CES?
  6. Are employees in Puerto Rico included in national CES estimates?
  7. Are undocumented immigrants counted in the surveys?
  8. Why are there two monthly measures of employment?
  9. Does the establishment survey sample include small firms?
  10. Has the establishment survey understated employment growth because it excludes the self-employed?

http://www.youtube.com/watch?v=czcUmnsprQI&feature=related

The Road Ahead: Unemployment, Poverty and the Recession

Employment Situation Summary

Transmission of material in this release is embargoed            USDL-10-1212
until 8:30 a.m. (EDT) Friday, September 3, 2010

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                       THE EMPLOYMENT SITUATION -- AUGUST 2010

Nonfarm payroll employment changed little (-54,000) in August, and the unem-
ployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor
Statistics reported today. Government employment fell, as 114,000 temporary
workers hired for the decennial census completed their work. Private-sector
payroll employment continued to trend up modestly (+67,000).

Household Survey Data

The number of unemployed persons (14.9 million) and the unemployment rate
(9.6 percent) were little changed in August. From May through August, the
jobless rate remained in the range of 9.5 to 9.7 percent. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.8 per-
cent), adult women (8.0 percent), teenagers (26.3 percent), whites (8.7 per-
cent), blacks (16.3 percent), and Hispanics (12.0 percent) showed little
change in August. The jobless rate for Asians was 7.2 percent, not season-
ally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) de-
clined by 323,000 over the month to 6.2 million. In August, 42.0 percent of
unemployed persons had been jobless for 27 weeks or more. (See table A-12.)

In August, the civilian labor force participation rate (64.7 percent) and
the employment-population ratio (58.5 percent) were essentially unchanged.
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes re-
ferred to as involuntary part-time workers) increased by 331,000 over the
month to 8.9 million. These individuals were working part time because their
hours had been cut back or because they were unable to find a full-time job.
(See table A-8.)

About 2.4 million persons were marginally attached to the labor force in
August, little changed from a year earlier. (The data are not seasonally ad-
justed.) These individuals were not in the labor force, wanted and were avail-
able for work, and had looked for a job sometime in the prior 12 months. They
were not counted as unemployed because they had not searched for work in the
4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 1.1 million discouraged workers in
August, an increase of 352,000 from a year earlier. (The data are not season-
ally adjusted.) Discouraged workers are persons not currently looking for work
because they believe no jobs are available for them. The remaining 1.3 million
persons marginally attached to the labor force had not searched for work in the
4 weeks preceding the survey for reasons such as school attendance or family
responsibilities.

Establishment Survey Data

Total nonfarm payroll employment was little changed (-54,000) in August. Govern-
ment employment fell by 121,000, reflecting the departure of 114,000 temporary
Census 2010 workers from federal government payrolls. Total private employment
continued to trend up modestly over the month (+67,000). Since its most recent
low in December 2009, private-sector employment has risen by 763,000. (See
table B-1.)

Employment in health care increased by 28,000 in August, with the largest gains
occurring in ambulatory health care services (+17,000) and hospitals (+9,000).
Thus far in 2010, the health care industry has added an average of 20,000 jobs
per month, about in line with the average monthly job growth in 2009.

Mining employment rose by 8,000 in August. Since a recent low in October 2009,
employment in the industry has increased by 72,000. Support activities for mining
has accounted for about three-fourths of the gain.

Manufacturing employment declined by 27,000 over the month. A decline in motor
vehicles and parts (-22,000) offset a gain of similar magnitude in July as the
industry departed somewhat from its usual layoff and recall pattern for annual
retooling.

Within professional and business services, employment in temporary help services
was up by 17,000. This industry has added 392,000 jobs since a recent employment
low in September 2009.

Construction employment was up (+19,000) in August. This change partially re-
flected the return to payrolls of 10,000 workers who were on strike in July.

Employment in retail trade was about unchanged over the month. A job gain among
motor vehicle and parts dealers (+8,000) was essentially offset by losses in
building materials and garden supply stores (-6,000).

Employment in other private-sector industries, including wholesale trade, trans-
portation and warehousing, information, financial activities, and leisure and
hospitality, showed little change in August.

Over the month, government employment fell by 121,000, largely reflecting the
loss of 114,000 temporary workers hired for Census 2010. The number of tempor-
ary Census 2010 workers peaked in May at 564,000 but has declined to 82,000 in
August.

The average workweek for all employees on private nonfarm payrolls was unchanged
over the month at 34.2 hours. The manufacturing workweek for all employees in-
creased by 0.1 hour to 40.2 hours, and factory overtime was up by 0.1 hour. The
average workweek for production and nonsupervisory employees on private nonfarm
payrolls increased by 0.1 hour to 33.5 hours. (See tables B-2 and B-7.)

Average hourly earnings of all employees on private nonfarm payrolls increased
by 6 cents, or 0.3 percent, to $22.66 in August. Over the past 12 months, aver-
age hourly earnings have increased by 1.7 percent. In August, average hourly
earnings of private-sector production and nonsupervisory employees increased by
3 cents, or 0.2 percent, to $19.08. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for June was revised from -221,000
to -175,000, and the change for July was revised from -131,000 to -54,000.

___________
The Employment Situation for September is scheduled to be released on Friday,
October 8, 2010, at 8:30 a.m. (EDT).

The US Unemployment Rate - 1948 to 2009

http://www.miseryindex.us/urbyyear.asp

The US Unemployment Rate - 1948 to 2009

http://www.miseryindex.us/urbyyear.asp

The Depression You’ve Never Heard Of: 1920-1921

by Robert P. Murphy

"...The 1920–1921 Depression

This context highlights the importance of the 1920–1921 depression. Here the government and Fed did the exact opposite of what the experts now recommend. We have just about the closest thing to a controlled experiment in macroeconomics that one could desire. To repeat, it’s not that the government boosted the budget at a slower rate, or that the Fed provided a tad less liquidity. On the contrary, the government slashed its budget tremendously, and the Fed hiked rates to record highs. We thus have a fairly clear-cut experiment to test the efficacy of the Keynesian and monetarist remedies.

At the conclusion of World War I, U.S. officials found themselves in a bleak position. The federal debt had exploded because of wartime expenditures, and annual consumer price inflation rates had jumped well above 20 percent by the end of the war.

To restore fiscal and price sanity, the authorities implemented what today strikes us as incredibly “merciless” policies. From FY 1919 to 1920, federal spending was slashed from $18.5 billion to $6.4 billion—a 65 percent reduction in one year. The budget was pushed down the next two years as well, to $3.3 billion in FY 1922.

On the monetary side, the New York Fed raised its discount rate to a record high 7 percent by June 1920. Now the reader might think that this nominal rate was actually “looser” than the 1.5 percent discount rate charged in 1931 because of the changes in inflation rates. But on the contrary, the price deflation of the 1920–1921 depression was more severe. From its peak in June 1920 the Consumer Price Index fell 15.8 percent over the next 12 months. In contrast, year-over-year price deflation never even reached 11 percent at any point during the Great Depression. Whether we look at nominal interest rates or “real” (inflation-adjusted) interest rates, the Fed was very “tight” during the 1920–1921 depression and very “loose” during the onset of the Great Depression.

Now some modern economists will point out that our story leaves out an important element. Even though the Fed slashed its discount rate to record lows during the onset of the Great Depression, the total stock of money held by the public collapsed by roughly a third from 1929 to 1933. This is why Milton Friedman blamed the Fed for not doing enough to avert the Great Depression. By flooding the banking system with newly created reserves (part of the “monetary base”), the Fed could have offset the massive cash withdrawals of the panicked public and kept the overall money stock constant.

But even this nuanced argument fails to demonstrate why the 1929–1933 downturn should have been more severe than the 1920–1921 depression. The collapse in the monetary base (directly controlled by the Fed) during 1920–1921 was the largest in U.S. history, and it dwarfed the fall during the early Hoover years. So we hit the same problem: The standard monetarist explanation for the Great Depression applies all the more so to the 1920–1921 depression.

The Results

If the Keynesians are right about the Great Depression, then the depression of 1920–1921 should have been far worse. The same holds for the monetarists; things should have been awful in the 1920s if their theory of the 1930s is correct.

To be sure, the 1920–1921 depression was painful. The unemployment rate peaked at 11.7 percent in 1921. But it had dropped to 6.7 percent by the following year, and was down to 2.4 percent by 1923. After the depression the United States proceeded to enjoy the “Roaring Twenties,” arguably the most prosperous decade in the country’s history. Some of this prosperity was illusory—itself the result of subsequent Fed inflation—but nonetheless the 1920–1921 depression “purged the rottenness out of the system” and provided a solid framework for sustainable growth.

As we know, things turned out decidedly differently in the 1930s. Despite the easy fiscal and monetary policies of the Hoover administration and the Federal Reserve—which today’s experts say are necessary to avoid the “mistakes of the Great Depression”—the unemployment rate kept going higher and higher, averaging an astounding 25 percent in 1933. And of course, after the “great contraction” the U.S. proceeded to stagnate in the Great Depression of the 1930s, which was easily the least prosperous decade in the country’s history.

The conclusion seems obvious to anyone whose mind is not firmly locked into the Keynesian or monetarist framework: The free market works. Even in the face of massive shocks requiring large structural adjustments, the best thing the government can do is cut its own budget and return more resources to the private sector. For its part, the Federal Reserve doesn’t help matters by flooding the shell-shocked credit markets with green pieces of paper. Prices can adjust to clear labor and other markets soon enough, in light of the new fundamentals, if only the politicians and central bankers would get out of the way. ..."

http://www.thefreemanonline.org/featured/the-depression-youve-never-heard-of-1920-1921/#

Aggregate Demand Video Tutorial

IS Video Tutorial

LM Video Tutorial

ISLM Video Tutorial

 

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United States Department Of Labor

Posted on January 28, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, government spending, Law, liberty, Life, Links, People, Philosophy, Politics, Rants, Raves, Video, Wisdom | Tags: , , , , , , , , , , |

    Saddling Posterity with Debt

“We believe–or we act as if we believed–that although an individual father cannot alienate the labor of his son, the aggregate body of fathers may alienate the labor of all their sons, of their posterity, in the aggregate, and oblige them to pay for all the enterprises, just or unjust, profitable or ruinous, into which our vices, our passions or our personal interests may lead us. But I trust that this proposition needs only to be looked at by an American to be seen in its true point of view, and that we shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves; and consequently within what may be deemed the period of a generation, or the life of the majority.”

~Thomas Jefferson to John Wayles Eppes, 1813

 

 

US Debt Clock

http://www.usdebtclock.org/

 

 

United States Department of Labor

http://www.dol.gov/

 

United States Department of Labor

http://www.whitehouse.gov/omb/budget/fy2010/assets/lab.pdf

 

Bureau of Labor Statistics

http://www.bls.gov/

 

History of Department of Labor

http://www.dol.gov/oasam/programs/history/main.htm

 

“…Department of Labor

The Department of Labor oversees federal programs for ensuring a strong American workforce. These programs address job training, safe working conditions, minimum hourly wage and overtime pay, employment discrimination, and unemployment insurance.

The Department of Labor’s mission is to foster and promote the welfare of the job seekers, wage earners, and retirees of the United States by improving their working conditions, advancing their opportunities for profitable employment, protecting their retirement and health care benefits, helping employers find workers, strengthening free collective bargaining, and tracking changes in employment, prices, and other national economic measurements.

Offices within the Department of Labor include the Bureau of Labor Statistics, the federal government’s principal statistics agency for labor economics, and the Occupational Safety & Health Administration, which promotes the safety and health of America’s working men and women.

The Secretary of Labor oversees 15,000 employees on a budget of approximately $50 billion. …”

http://www.whitehouse.gov/our-government/executive-branch

 

Department of Labor – $13.3billion+$4.8billion from the Recovery Act

The 2010 budget for the Department of Labor focuses on modernization and reform on the Unemployment Insurance system, building green jobs and the improvement on American working conditions.

Department of Labor Budget

Highlights from the 2010 Department of Labor Budget

Improve Unemployment Insurance System

  • Reduce improper payments and employer tax evasion by more than $4 billion over the next 10 years through modernization of system – no monetary value given

Increase labor standards

http://www.onlineforextrading.com/blog/federal-budget-broken-down/

United States Department of Labor

“…The United States Department of Labor is a Cabinet department of the United States government responsible for occupational safety, wage and hour standards, unemployment insurance benefits, re-employment services, and some economic statistics. Many U.S. states also have such departments. The department is headed by the United States Secretary of Labor. Hilda Solis is the current secretary of labor. Seth Harris is the current Deputy Secretary of Labor.

 

The Frances Perkins Building, the Department of Labor headquarters in Washington, D.C.

The Department of Labor (DOL) fosters and promotes the welfare of the job seekers, wage earners, and retirees of the United States by improving their working conditions, advancing their opportunities for profitable employment, protecting their retirement and health care benefits, helping employers find workers, strengthening free collective bargaining, and tracking changes in employment, prices, and other national economic measurements. In carrying out this mission, the Department administers a variety of Federal labor laws including those that guarantee workers’ rights to safe and healthful working conditions; a minimum hourly wage and overtime pay; freedom from employment discrimination; unemployment insurance; and other income support. The department is housed in the Frances Perkins Building, which gained its name in 1980 when President Jimmy Carter renamed the facility in honor of Frances Perkins, the Secretary of Labor from 1933–1945 and the first female cabinet secretary in U.S. history.[1]

The U.S. Congress first established a Bureau of Labor in 1888 under the Department of the Interior. Later, the Bureau of Labor became an independent Department of Labor but lacked executive rank. It became a bureau again within the Department of Commerce and Labor, which was established February 15, 1903. President William Howard Taft signed the March 4, 1913 bill establishing the Department of Labor as a Cabinet-level Department.

President Lyndon Johnson asked Congress to consider the idea of reuniting Commerce and Labor.[citation needed] He argued that the two departments had similar goals and that they would have more efficient channels of communication in a single department. However, Congress never acted on it.

In the 1970s, following the Civil Rights Movement, the Labor Department under Secretary George P. Shultz was instrumental in promoting racial diversity in unions.[2]

http://en.wikipedia.org/wiki/United_States_Department_of_Labor

Background Articles and Videos

 

President Obama Personnel Alert: U.S. Secretary of Labor Hilda Solis

 

Related Posts On Pronk Palisades

United States Department of Agriculture

United States Department of Commerce

United States Department of Defense

United States Department of Education

United States Department of Energy

United States Department of Health and Human Resources

United States Department of Homeland Security

United States Department of Housing and Urban Development

United States Department of Interior

United States Department of Justice

United States Department of Labor

United States Department of State

United States Department of Transportation

United States Department of The Treasury

United States Department of Veteran Affairs

United States Office of Management and Budget

United States Office of Personnel Management

United States Social Security Administration

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The Obama Depression (OD) Starts July 4, 2009–30 Million Americans March To Tea Parties In Washington D.C. and Over 1,000 Cities and Towns Across America!

Posted on June 5, 2009. Filed under: Blogroll, Economics, Employment, Life, Links, Politics, Quotations, Rants, Raves, Taxes, Video | Tags: , , , , , , , , , , , , |

fireworkd.jpt

The official unemployment rate as measured by U-3 (see unemployment article below) for May, 2009 was higher than expected, hitting a twenty-five year high of 9.4% or over 14.5 million Americans seeking full time jobs.

The real unemployment rate as measured by U-6 (see unmployment article  below) for May, 2009  hit 16.4% or over 25 million Americans seeking full time jobs.

http://www.bls.gov/news.release/empsit.t12.htm

On July 4, 2009 the Bush recession of 2008 turns into the Obama Depression of 2009.

By July 4, 2009 the official unemployment rate as measured by U-3 will  be over 10% with over 15 million Americans seeking full time employment.

By July 4, 2009 the real unemployment rate as measured by U-6 will be over 17.5% or over 26 million Americans seeking full time jobs.

These unemployment rates will be the highest official and total unemployment rates in over seventy years!

What is not being hightlighted and talked about by big media is that in 1933 at the height of the Great Depression with an unemployment rate of 24.9% the number of unemployed Americans was 12,830,000.

More Americans are now unemployed, 14,511,000, than were in 1933!

The Great Depression: A Brief Overview

Year Unemployment (% labor force)
1933 24.9
1934 21.7
1935 20.1
1936 16.9
1937 14.3
1938 19.0
1939 17.2
1940 14.6
1941 9.9
1942 4.7
1943 1.9
1944 1.2
1945 1.9

source: Historical Statistics US (1976) series D-86

This will be followed in late 2010 and early 2011 with double digit inflation rates!

Monetary Policy By Federal Reserve Will Cause “Double Digit” Inflation

Peter Schiff – CNBC Jun 8, 2009

Jim Rogers: They’re Printing So Much Money That Stocks Will Go To 30,000

Jim Rogers – An Even Greater Depression is Coming – March 1st, 2009

Inside Look – How Long Will the Recession Last? – Bloomberg

Dr. Nouriel Roubini

President Obama’s economic approach of massive bailouts to failing businesses and stimulus bills that are largely payoffs to his campaign contributors (mainly unions and Wall Street banks) combined with the Federal Reserve’s wildly expansionary monetary policy to accommodate the bailouts and huge budgetary deficits are the problem not the solution.

Businesses and consumers have lost confidence in President Obama’s economic policies that are wrecking the American economy and destroying jobs.

Until small and medium size businesses that create most of the new jobs have confidence in President Obama’s and the Federal Reserve’s economic policies, the unemployment rate will continue to grow and the recession will last longer.

I fully expect the official unemployment rate will hit 13% by the end of the year and the real total unemployment rate will hit 21%.

The recession/depression will last at least 30 months or until the middle of 2010 provided both the proposed cap and trade energy tax and national health care bills are defeated.

The Obama Depression will be the longest recession/depression since the Great Depression of 1929-1933 of 43 months.

President Obama’s proposed hidden cap and trade energy tax and the proposed national health care bills if passed will destroy even more jobs and result in an even longer recession if not depression.

Both bills are job and investment killers and are fiscally irresponsible given the huge current and future liabilities of existing entitlement programs, namely Social Security and Medicare. These programs need to be put on a financial sound footing before even considering another new entitlement programs.

President Obama’s incompetent economic policies and radical socialist proposals are the problem not the solution.

Trying to pass the blame to President Bush and lying about the causes will increasingly not work as the American people wake-up to tens of millions unemployed Americans

The American people will demand that all illegal aliens working in the United States be removed from the workplace and deported and American citizens replace them.

The American people will demand that no new taxes be enacted and the FairTax be passed to replace all existing business and individual income, payroll, estate and gift taxes.

The American people will demand a six month tax holiday to restore their confidence in the economy and encourage consumer spending and business investment.

The American people will demand that all bailouts be banned and all budgets be balanced.

The American people will demand that both the  Social Security and Medicare  programs be saved before entertaining any new entitlement program such as national health care.

Look before you leap!

US Federal Government Deficits

federal_spending

Stop Spending Our Future – The Crisis

Joe Stiglitz …explains how we got robbed by tarp 2

Inside Look – How Not to Fix the Financial System – Bloomberg

Dr. Nouriel Roubini

Glenn Beck Interviews Stuart Varney,Conservatives Take Control Of Parliament

Out of control fear

On July 4, 2009 Independence Day over 30 million Americans will march and attend ice tea parties in over 1,000 cities and towns including Washington D.C.  celebrating the Second American Revolution.

You are invited to attend a Tea Party on Saturday, July 4, 2009, Independence Day!

Happy_July_4

Join the Second American Revolution

we_the_people

The Meaning of Independence Day

Ayn Rand Center for Individual Rights

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Independents Lead The The Second American Revolution Surge–Independence Day–Saturday July 4, 2009 In Washington D.C.–Tea Party Time–On To Washington–Dare You To Move!

Please Spread The Message of Liberty

liberty_bell1

Proclaim liberty throughout the land to all its inhabitants.”

Let Freedom Ring

Thomas Paine on to Washington

switchfoot-dare you to move(live)

God Bless the USA – Lee Greenwood

Background Articles and Videos

THE EMPLOYMENT SITUATION: MAY 2009

Nonfarm payroll employment fell by 345,000 in May, about half the
average monthly decline for the prior 6 months, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. The unem-
ployment rate continued to rise, increasing from 8.9 to 9.4 percent.
Steep job losses continued in manufacturing, while declines moderated
in construction and several service-providing industries.

Unemployment (Household Survey Data)

The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4 percent. Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.0 million, and the unemployment rate has grown by 4.5 percent-age points. (See table A-1.)

Unemployment rates rose in May for adult men (9.8 percent), adult
women (7.5 percent), whites (8.6 percent), and Hispanics (12.7 percent). The jobless rates for teenagers (22.7 percent) and blacks (14.9 percent) were little changed over the month. The unemployment rate for Asians was 6.7 percent in May, not seasonally adjusted, up from 3.8 percent a year earlier. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 732,000 in May to 9.5 million. This group has increased by 5.8 million since the start of the recession. (See table A-8.)

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 268,000 over the month to 3.9 million and has tripled since the start of the recession. (See table A-9.)

unemployment_bar

US_Unemployment_1890-2008

US  Annual

Unemployment

Rate

Year Annual Rate
1948 3.8
1949 5.9
1950 5.3
1951 3.3
1952 3.0
1953 2.9
1954 5.5
1955 4.4
1956 4.1
1957 4.3
1958 6.8
1959 5.5
1960 5.5
1961 6.7
1962 5.5
1963 5.7
1964 5.2
1965 4.5
1966 3.8
1967 3.8
1968 3.6
1969 3.5
1970 4.9
1971 5.9
1972 5.6
1973 4.9
1974 5.6
1975 8.5
1976 7.7
977 7.1
1978 6.1
1979 5.8
1980 7.1
1981 7.6
1982 9.7
1983 9.6
1984 7.5
1985 7.2
1986 7.0
1987 6.2
1988 5.5
1989 5.3
1990 5.6
1991 6.8
1992 7.5
1993 6.9
1994 6.1
1995 5.6
1996 5.4
1997 4.9
1998 4.5
1999 4.2
2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
2005 5.1
2006 4.6
2007 4.6
008 5.8

Unemployment

“…Unemployment occurs when a person is available to work and seeking work but currently without work.[1] The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed. The unemployment rate is also used in economic studies and economic indexes such as the United States’ Conference Board’s Index of Leading Indicators as a measure of the state of the macroeconomics.

Most economic schools of thought agree that the cause of involuntary unemployment is that wages are above the market clearing rate. However, there are disagreements as to why this would be the case: the economists argue that in a downturn, wages stay high because they are naturally ‘sticky’, whilst others argue that minimum wages and union activity keep them high. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems, inefficiencies, inherent in labour markets (structural unemployment). Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed (frictional unemployment). Alternatively, some blame unemployment on Globalisation. There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the USA experiences lower unemployment levels than countires in the European Union,[2] although there is variet there, with countries like the UK and Denmark outpreforming Italy and France and it also changes over time (e.g. the Great depression) throughout economic cycles …”

“…The Bureau of Labor Statistics measures employment and unemployment (of those over 15 years of age) using two different labor force surveys[32] conducted by the United States Census Bureau (within the United States Department of Commerce) and/or the Bureau of Labor Statistics (within the United States Department of Labor) that gather employment statistics monthly. The Current Population Survey (CPS), or “Household Survey”, conducts a survey based on a sample of 60,000 households. This Survey measures the unemployment rate based on the ILO definition.[33] The data is also used to calculate 5 alternate measures of unemployment as a percentage of the labor force based on different definitions noted as U1 through U6:[34]

  • U1: Percentage of labor force unemployed 15 weeks or longer.
  • U2: Percentage of labor force who lost jobs or completed temporary work.
  • U3: Official unemployment rate per ILO definition.
  • U4: U3 + “discouraged workers”, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
  • U5: U4 + other “marginally attached workers”, or those who “would like” and are able to work, but have not looked for work recently.
  • U6: U5 + Part time workers who want to work full time, but can not due to economic reasons.

Note: “Marginally attached workers” are added to the total labor force for unemployment rate calculation for U4, U5, and U6. The BLS revised the CPS in 1994 and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5.[35]

http://en.wikipedia.org/wiki/Unemployment

Inflation is looming on America’s horizon

By Martin Feldstein

Published: April 19 2009 18:54 | Last updated: April 19 2009 18:54

“…The money supply consists largely of government-insured bank deposits that households and businesses are holding because of a concern about the liquidity and safety of other forms of investment. But this could change when conditions improve, turning these money balances into sources of inflation.

The link between fiscal deficits and money growth is about to be exacerbated by “quantitative easing”, in which the Fed will buy long-dated government bonds. While this may look like just a modified form of the Fed’s traditional open market operations, it cannot be distinguished from a policy of directly monetising some of the government’s newly created debt. Fortunately, the amount of debt being purchased in this way is still small relative to the total government borrowing.

The Fed is also creating a massive increase in liquidity by its policy of supplying credit directly to private borrowers. Although these credit transactions do not add to the measured fiscal deficit, the unprecedented Fed purchases of more than $1,000bn of private securities have led to the enormous $700bn increase in the excess reserves of the commercial banks. The banks now hold these as interest-bearing deposits at the Fed. But when the economy begins to recover, these reserves can be converted into new loans and faster money growth.

The deep recession means that there is no immediate risk of inflation. The aggregate demand for labour and goods and services is much less than the potential supply. But when the economy begins to recover, the Fed will have to reduce the excessive stock of money and, more critically, prevent the large volume of excess reserves in the banks from causing an inflationary explosion of money and credit. …”

http://www.ft.com/cms/s/0/ae436dbc-2d09-11de-8710-00144feabdc0.html

Great Depression

by Gene Smiley

“A worldwide depression struck countries with market economies at the end of the 1920s. Although the Great Depression was relatively mild in some countries, it was severe in others, particularly in the United States, where, at its nadir in 1933, 25 percent of all workers and 37 percent of all nonfarm workers were completely out of work. Some people starved; many others lost their farms and homes. Homeless vagabonds sneaked aboard the freight trains that crossed the nation. Dispossessed cotton farmers, the “Okies,” stuffed their possessions into dilapidated Model Ts and migrated to California in the false hope that the posters about plentiful jobs were true. Although the U.S. economy began to recover in the second quarter of 1933, the recovery largely stalled for most of 1934 and 1935. A more vigorous recovery commenced in late 1935 and continued into 1937, when a new depression occurred. The American economy had yet to fully recover from the Great Depression when the United States was drawn into World War II in December 1941. Because of this agonizingly slow recovery, the entire decade of the 1930s in the United States is often referred to as the Great Depression. …”

http://www.econlib.org/library/Enc/GreatDepression.html

List of recessions in the United States

“…This is a list of recessions that have affected the United States. Though a recession is popularly defined as two quarters of negative GDP growth, the beginning and ending dates of U.S. recessions are officially determined by the National Bureau of Economic Research (NBER).[2] The NBER defines a recession as, “…a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”[3] From 1945-2007 the NBER has identified 11 recessions;[4] their average duration was 10 months (peak to trough).[5]

Most of the recessions listed here have affected economies on a worldwide scale; some of them are the Great Depression, the late 1980s recession, and the early 2000s recession. Recessions in one country are often grouped together with recessions in other countries that are related, and they commonly share a focal point as the cause of the recession.[6]

Note that before detailed economic statistics began to be gathered in the nineteenth century, it was difficult to tell when recessions occurred.[7] In spite of this, it is possible to estimate when economic recessions began because they were typically caused by external actions on the economic system such as wars and variations in the weather.[8]

Recessions and other Economic Crises

Name  ↓ Dates  ↓ Duration  ↓ Time since start of previous entry  ↓ Causes References
Panic of 1797 1797–1800 &0000000000000003.0000003 years The effects of the deflation of the Bank of England crossed the Atlantic Ocean to North America and disrupted commercial and real estate markets in the United States and the Caribbean. Britain‘s economy was greatly affected by developing disflationary repercussions because it was fighting France in the French Revolutionary Wars at the time. [9] [5]
Depression of 1807 1807–1814 &0000000000000007.0000007 years &0000000000000010.00000010 years The Embargo Act of 1807 was passed by the United States Congress under President Thomas Jefferson. It devastated shipping-related industries. The Federalists fought the embargo and allowed smuggling to take place in New England. [10][11][5]
Panic of 1819 1819–1824 &0000000000000005.0000005 years &0000000000000012.00000012 years The first major financial crisis in the United States featured widespread foreclosures, bank failures, unemployment, and a slump in agriculture and manufacturing. It also marked the end of the economic expansion that followed the War of 1812. [12][13][5]
Panic of 1837 1837–1843 &0000000000000006.0000006 years &0000000000000018.00000018 years A sharp downturn in the American economy was caused by bank failures and lack of confidence in the paper currency. Speculation markets were greatly affected when American banks stopped payment in specie (gold and silver coinage). [14][5]
Panic of 1857 1857–1860 &0000000000000003.0000003 years &0000000000000020.00000020 years Failure of the Ohio Life Insurance and Trust Company burst a European speculative bubble in United States railroads and caused a loss of confidence in American banks. Over 5,000 businesses failed within the first year of the Panic, and unemployment was accompanied by protest meetings in urban areas. [15][5]
Panic of 1873 1873–1879 &0000000000000006.0000006 years &0000000000000016.00000016 years Economic problems in Europe prompted the failure of the Jay Cooke & Company, the largest bank in the United States, which burst the post-Civil War speculative bubble. The Coinage Act of 1873 also contributed by immediately depressing the price of silver, which hurt North American mining interests. [16][5]
Long Depression 1873–1896 &0000000000000023.00000023 years The collapse of the Vienna Stock Exchange caused a depression that spread throughout the world. It is important to note that during this period, the global industrial production greatly increased. In the United States, for example, industrial output increased fourfold. [17][5]
Panic of 1893 1893–1896 &0000000000000003.0000003 years &0000000000000020.00000020 years Failure of the United States Reading Railroad and withdrawal of European investment led to a stock market and banking collapse. This Panic was also precipitated in part by a run on the gold supply. [18][5]
Panic of 1907 1907–1908 &0000000000000001.0000001 year &0000000000000014.00000014 years A run on Knickerbocker Trust Company deposits on October 22, 1907, set events in motion that would lead to a severe monetary contraction. [19][5]
Post-World War I recession 1918–1921 &0000000000000003.0000003 years &0000000000000011.00000011 years Severe hyperinflation in Europe took place over production in North America. It was a brief but very sharp recession and was caused by the end of wartime production, along with an influx of labor from returning troops. This in turn caused high unemployment. [20][5]
Great Depression 1929–1933 &0000000000000043.00000043 months &0000000000000021.00000021 months Stock markets crashed worldwide, and a banking collapse took place in the United States. Although sometimes dated as lasting until the Second World War, the US economy was growing again by 1933, and technically the U.S. was not in recession from 1933 to 1937 [21][5]
Recession of 1937 1937–1938 &0000000000000013.00000013 months &0000000000000050.00000050 months The Recession of 1937 is only considered minor when compared to the Great Depression, but is otherwise among the worst recessions of the 20th century. [22]
Recession of 1945 Feb-Oct 1945 &0000000000000008.0000008 months &0000000000000080.00000080 months The decline in government spending at the end of World War II led to an enormous drop in Gross Domestic Product making this technically a recession. The Post War years were unusual in a number of ways and this era has little in common with other recessions. [23]
Recession of 1948 Nov 1948–Oct 1949 &0000000000000011.00000011 months &0000000000000037.00000037 months The 1948 recession was a relatively brief cyclical economic downturn, the mildness of which led to confidence in the notion that the Post War-era would be a period of stronger growth. [24]
Recession of 1953 July 1953–May 1954 &0000000000000010.00000010 months &0000000000000045.00000045 months After a post-Korean War inflationary period, more funds were transferred into national security. The Federal Reserve changed monetary policy to be more restrictive in 1952 due to fears of further inflation. [25][26][5]
Recession of 1958 Aug 1957–April 1958 &0000000000000008.0000008 months &0000000000000039.00000039 months Monetary policy was tightened during the two years preceding 1957, followed by an easing of policy at the end of 1957. The budget balance resulted in a change in budget surplus of 0.8% of GDP in 1957 to a budget deficit of 0.6% of GDP in 1958, and then to 2.6% of GDP in 1959. [27][5]
Recession of 1960-1 April 1960–Feb 1961 &0000000000000010.00000010 months &0000000000000024.00000024 months After President Kennedy’s 30 January 1961 call for increased government spending to improve the Gross National Product and to reduce unemployment, the 1960-61 recession ended in February.[28]
Recession of 1969-70 Dec 1969–Nov 1970 &0000000000000011.00000011 months &0000000000000106.000000106 months The relatively mild 1969 recession is thought to have been mostly caused by the Federal Reserve raising interest rates to hold down inflation. [5]
1973 oil crisis1973–1974 stock market crash Nov. 1973– March 1975 &0000000000000016.00000016 months &0000000000000036.00000036 months A quadrupling of oil prices by OPEC coupled with high government spending due to the Vietnam War led to stagflation in the United States. [29][5]
1980 recession Jan-July 1980 &0000000000000006.0000006 months &0000000000000058.00000058 months The NBER considers a short recession to have occurred in 1980, followed by a short period of growth and then a deep recession. Unemployment remained relatively elevated inbetween recessions. The early ’80s are sometimes referred to as a “double dip” or “w-shaped” recession. [5]
Early 1980s recession July 1981–Nov 1982 &0000000000000016.00000016 months &0000000000000012.00000012 months The Iranian Revolution sharply increased the price of oil around the world in 1979, causing the 1979 energy crisis. This was caused by the new regime in power in Iran, which exported oil at inconsistent intervals and at a lower volume, forcing prices to go up. Tight monetary policy in the United States to control inflation led to another recession. The changes were made largely because of inflation that was carried over from the previous decade due to the 1973 oil crisis and the 1979 energy crisis. [30][31][5]
Early 1990s recession July 1990–March 1991 &0000000000000008.0000008 months &0000000000000092.00000092 months Industrial production and manufacturing-trade sales increased in early 1991. [32][5]
Early 2000s recession Mar-Nov 2001 &0000000000000008.0000008 months &0000000000000120.000000120 months The collapse of the dot-com bubble, the September 11th attacks, and accounting scandals contributed to a relatively mild contraction in the North American economy. [33][5]
Late 2000s recession Dec 2007-current ongoing &0000000000000073.00000073 months The collapse of the housing market led to bank collapses in the US and Europe, causing the amount of available credit to be sharply curtailed, resulting in huge liquidity and solvency crises. In addition, record oil prices and food prices, stock markets crashed globally, and several high profile banking and manufacturing giants collapsed in the United States [34][35]

http://en.wikipedia.org/wiki/List_of_recessions

Mobilizing against Obamacare

By Michelle Malkin

teaparty

“…Liberty Belle blogger Keli Carender, who organized the first porkulus protest in Seattle back in February that presaged the Tea Party movement, is mobilizing grass-roots activists against the Obama health care takeover.

The Funeral for Health Care will be held on May 30.

More info here.

What are you doing in your neighborhood?

Noteworthy: Seattle was ground zero during the 1994 grass-roots revolt against Hillarycare.

Let history repeat. …”

http://michellemalkin.com/2009/05/21/mobilizing-against-obamacare/
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