Archive for November 5th, 2010

The Day The Dollar Crashes–What’s Next? What’s Next? What’s Next?–Videos

Posted on November 5, 2010. Filed under: Blogroll, Business, Communications, Computers, Demographics, Economics, Education, Employment, Fiscal Policy, government, government spending, Health Care, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Security, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , |

Year Gross Debt in Billions undeflated[10] as % of GDP Debt Held By Public ($Billions) as % of GDP
1910 2.6 unk. 2.6 unk.
1920 25.9 unk. 25.9 unk.
1928 18.5[11] unk. 18.5 unk.
1930 16.2 unk. 16.2 unk.
1940 50.6 52.4 42.8 44.2
1950 256.8 94.0 219.0 80.2
1960 290.5 56.0 236.8 45.6
1970 380.9 37.6 283.2 28.0
1980 909.0 33.4 711.9 26.1
1990 3,206.3 55.9 2,411.6 42.0
2000 5,628.7 58.0 3,409.8 35.1
2001 5,769.9 57.4 3,319.6 33.0
2002 6,198.4 59.7 3,540.4 34.1
2003 6,760.0 62.6 3,913.4 35.1
2004 7,354.7 63.9 4,295.5 37.3
2005 7,905.3 64.6 4,592.2 37.5
2006 8,451.4 65.0 4,829.0 37.1
2007 8,950.7 65.6 5,035.1 36.9
2008 9,985.8 70.2 5,802.7 40.8
2009 12,311.4 86.1 7,811.1 54.6
2010 (2 Nov) 13,724.0 93.2 (3rd Q) 9,133.6 62.0 (3rd Q)
2010 (est.) 14,456.3 98.1 9,881.9 67.1
2011 (est.) 15,673.9 101.0 10,873.1 70.1
2012 (est.) 16,565.7 100.6 11,468.4 69.6
2013 (est.) 17,440.2 99.7 12,027.1 68.7
2014 (est.) 18,350.0 99.8 12,594.8 68.5

Note: 2010-2014 are projections

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

Debt Clock

http://www.usdebtclock.org/

Peter Schiff – It’s Scary How Clueless Bernanke Is

Glenn Beck Talks NWO With Damon Vickers (Part 1)

Glenn Beck Talks NWO With Damon Vickers (Part 2)

 

Glenn Beck David Buckner The MONEY BUBBLE/ASSET BUBBLE Fox News 11-17-09

Glenn Beck More About The MONEY BUBBLE/ASSET BUBBLE Fox News 11-17-09

 

The inevitable day the Dollar crashes

 

Glenn Beck Part 1 – What Happens Next? 11/5/2010

 

Glenn Beck Part 2 – What Happens Next? 11/5/2010

 

Glenn Beck Part 3 – What Happens Next? 11/5/2010

 

The Truth About The Economy Total Collapse – Facing the RECESSION of 2010

When will America Collapse? …..answers from Jim Rogers, Marc Faber, Gerald Celente and others

 

Tuesday is Just the Beginning…

 

Republicans Win BIG…

Background Articles and Videos

GLENN BECK WARNS OF CATASTROPHIC EVENT & NEEDING TO STOCKPILE FOOD

 

Peter Schiff Was Right 2006 – 2007 (2nd Edition)

Peter Schiff – Fed panel

Vickers Was Right

 

Damon Vickers on Alex Jones Tv 1/6:A New Financial Order!!

 

Damon Vickers on Alex Jones Tv 2/6:A New Financial Order!!

 

Damon Vickers on Alex Jones Tv 3/6:A New Financial Order!!

 

Damon Vickers on Alex Jones Tv 4/6:A New Financial Order!!

 

Damon Vickers on Alex Jones Tv 5/6:A New Financial Order!!

 

Damon Vickers on Alex Jones Tv 6/6:A New Financial Order!!

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Heritage Foundation 2010 Budget Charts–Federal Spending

Heritage Foundation 2010 Budget Charts–Federal Revenue

Heritage Foundation 2010 Budget Charts–Federal Debt and Deficits

Heritage Foundation 2010 Budget Charts–Federal Entitlements

Federal Reserve’s Nonconventional Monetary Policy of Quantitative Easing–Printing Money and The Coming Inflation–Videos

Paul Craig Roberts On The Federal Reserve’s Quantitative Easing (QE2) Monetary Policy And The Impotence of Elections–Videos

Why We Are In So Much Debt–Videos

Federal Reserve Monetizes U.S. Government Treasury Debt By Printing Money–Quantitative Easing (QE2)–Devalues U.S Currency–Banks Steal American People’s Purchasing Power!

The Obama Depression Deepens–Federal Reserve Executes–QE II Plan–”Operation Pawnshop”–$2,500 Billion In Quantitative Easing–Money Printing–Will It Be Enough?

The Ruling Establishment’s Robbery Of The American People–Deflation–Inflation–Hyperinflation–Bust–Bailout–Boom–Bubble–The Fall Of The American Republic–The Rise of One World Government and Currency–Videos

The American People Paid Off The Bets (Credit Default Swaps) Of Wall Street Investment Banks–Videos

The Massive Fraud In Mortgages Continues–Crooks and Corrupt Politicians In Charge–Videos

Quantitative Easing–Videos

Deflation, Inflation and Uncertainty–Videos

The Trillion Dollar Bet–Videos

U.S. Labor Force Participation Rate Normally Between 66%-67.5% Hits New Twenty-Five Year Low of 64.5%!

October, 2010 U.S. Unemployment Rates–9.6% (U3) and 17.0% (U-6) With 14,843,000 and 26,163,00 Americans Respectively Seeking Work–Higher Than Great Depression!

Obama Depression: 20 Months Of Unemployment Over 8% For Official U-3 Rate and Over 15% For Total U-6 Rate–Over 26 Million Americans Looking For A Full Time Job and 41.8 Million On Food Stamps!–Followed By 36 More Months Of Over 8% Official Unemployment U-3 Rate and 15% Total Unemployment U-6 Rate!

The Ascent of Money–Videos

Niall Ferguson–”The Ascent of Money–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

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U.S. Labor Force Participation Rate Normally Between 66%-67.5% Hits New Twenty-Five Year Low of 64.5%!

Posted on November 5, 2010. Filed under: Blogroll, Business, Communications, Demographics, Economics, Education, Employment, Federal Government, government, government spending, history, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Taxes, Video | Tags: , |

 Economy Adds 151,000 Jobs

Employers Add 151K Jobs, Most Since May

Barclays’ Maki: U.S. Growth Will Stall

UnemploymentPercentage Rates Series  Unemployment Level
9.6% U-3 14,843,000 
17.0% U-6  26,163,680

 

 Unemployment Percentage Rate Group
9.7%   Adult Men
 8.1% Adult Women 
7.1% Asians
 15.7%  Blacks
 12.6%  Hispanics
27.1% Teenagers
   

Fewer Americans are participating in the labor force during the Obama Depression, especially the young and blacks with very high unemployment rates of 27.1% and 15.7% respectivley.

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 26.0 27.1      

 

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 16.1 15.7      

 

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 64.7 64.5      

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

In October the labor force participation rate hit a new twenty-five year low of only 65.5%.

While the U.S.  labor force participation rate fluctuates from month to month, it has over the last ten years usually fluctuated in a range of between 66% to 67.5%.

As the economy enters a recession, the labor force participation usually falls and it did during this recession/depression.

As the economy recovers from a recession or depression, the labor force participation usually rises as Americans reenter the labor market and seek employment.

This initially results in an increase in the unemployment rate. 

I fully expect that the unemployment rate will increase over the next six to twelve months.

When the labor force participation rate again falls within the 66% to 67.5% range the economy will again be on its way to a recovery and eventually a fall in the unemployment rate.

Businesses need to create between 250,000 and 300,000 jobs in a month to reduce the unemployment rate by .1%.

Between 100,000 and 150,000 jobs each month need to be created for new entrants to the labor market from population growth.

While the 151,000 job increase in October was encouraging, the number of new jobs needs to be twice that to reduce the unemployment rate from 9.6% to 9.5%.

Until the growth of income and production exceeds 2.5% to 3% growth rate, the economy will not be creating jobs at the rate of 250,000 to 300,000 jobs needed to reduce the unemployment rate.

This is not likely to happen for at least six to nine months.

Labor Force Participation Rates, United States


 

Labor Force Participation Rates
United States, 1999-2009 
  Total Male Female Youth
(Age 16-19)
1999 67.1% 74.7% 60.1% 52.0%
2000 67.2% 74.6% 59.8% 51.7%
2001 66.7% 74.3% 59.7% 48.9%
2002 66.4% 73.8% 59.6% 46.9%
2003 66.1% 73.5% 59.1% 43.6%
2004 66.0% 73.3% 59.1% 44.2%
2005 66.0% 73.2% 59.3% 43.5%
2006 66.3% 73.5% 59.5% 43.4%
2007 65.9% 73.0% 59.3% 41.3%
2008 65.9% 72.7% 59.5% 38.9%
2009 64.9% 71.4% 58.7% 35.8%

Source:  Current Population Survey, Bureau of Labor Statistics,
U.S. Department of Labor

  

Trends in labor force participation
in the United States

“…OVERALL LABOR FORCE PARTICIPATION HAS DECLINED in
recent years after rising steadily for more than half a century.
The decline occurred across most of the major demographic
groups. The largest drop was among teenagers. Increased school
enrollment, a slower-than-average labor market recovery, and
higher competition for available jobs from older workers as well
as from recent immigrants are considered the major factors that
contributed to the decline in teen participation.

The labor force participation of young adults—individuals
aged 20 to 24 years—also declined; however, in relative terms,
the decrease was not as steep as that for teenagers. Among
young adults, those least likely to be labor force participants
were high school dropouts; in particular, young women without
high school diplomas were least likely to be working or looking
for work. As was the case with teenagers, increased school
enrollment and the sluggish labor market recovery may be partly
responsible for the decline in participation of young adults.

The labor force participation of women aged 25 to 54 years
also declined in recent years, following a steady increase over
the previous five decades. Women in the younger age cohorts—
especially those aged 25 to 29 years—registered the largest

 decreases in participation. Changes in the labor force participation
pattern of mothers over the past decade show that the
decrease in labor force participation of mothers with more
education was greater than that of those with less education.
The decline in labor force participation among married mothers
with a bachelor’s degree or higher was more pronounced among
mothers with preschool children.

The labor force participation of men aged 25 to 54 years
edged down fairly steadily between 1950 and 1990. Since 1990,
the decline has been much sharper. Over the past quarter
century, the decrease in participation among less educated
men has been much larger than that of their more educated
counterparts.
Finally, one group has bucked the overall trend in recent years:
persons aged 55 years and older. Beginning in 1995, the labor
force participation rate of older workers began to rise, after falling
for about 50 years; since 2000, the pace of the increase has
accelerated.”

http://www.bls.gov/opub/mlr/2006/10/art3full.pdf

 

Background Articles and Videos

Marvin Barth Says QE2 Won’t Fix `Underlying Problems’

 

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October, 2010 U.S. Unemployment Rates–9.6% (U3) and 17.0% (U-6) With 14,843,000 and 26,163,00 Americans Respectively Seeking Work–Higher Than Great Depression! 

Obama Depression: 20 Months Of Unemployment Over 8% For Official U-3 Rate and Over 15% For Total U-6 Rate–Over 26 Million Americans Looking For A Full Time Job and 41.8 Million On Food Stamps!–Followed By 36 More Months Of Over 8% Official Unemployment U-3 Rate and 15% Total Unemployment U-6 Rate!

 

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Paul Craig Roberts On The Federal Reserve’s Quantitative Easing (QE2) Monetary Policy And The Impotence of Elections–Videos

Posted on November 5, 2010. Filed under: Blogroll, College, Communications, Demographics, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Video, Wisdom | Tags: , , , , |

Paul Craig Roberts: The Impotence of Elections – Alex Jones Tv 1/4

 

Paul Craig Roberts: The Impotence of Elections – Alex Jones Tv 2/4

 

Paul Craig Roberts: The Impotence of Elections – Alex Jones Tv 3/4

 

Paul Craig Roberts: The Impotence of Elections – Alex Jones Tv 4/4

 

The Impotence of Elections

Paul Craig Roberts
Infowars.com
November 3, 2010

“…Prior to this development, the two parties, despite their similarities, represented different interests and served as a check on one another. The Democrats represented labor and focused on providing a social safety net. Social Security, Medicare, Medicaid, food stamps, unemployment insurance, housing subsidies, education, and civil rights were Democratic issues. Democrats were committed to a full employment policy and would accept some inflation to secure more employment.

The Republicans represented business. The Republicans focused on curtailing big government in all its manifestations from social welfare spending to regulation. The Republicans’ economic policy consisted of opposing federal budget deficits.

These differences resulted in political competition.

Today both parties are dependent for campaign finance on Wall Street, the military/security complex, AIPAC, the oil industry, agri-business, pharmaceuticals, and the insurance industry. Campaigns no longer consist of debates over issues. They are mud-slinging contests.

Angry voters take their anger out on incumbents, and that is what we saw in the election. Tea Party candidates defeated Republican incumbents in primaries, and Republicans defeated Democrats in the congressional elections.

Policies, however, will not change qualitatively. Quantitatively, Republicans will be more inclined to more rapidly dismantle more of the social safety net than Democrats and more inclined to finish off the remnants of civil liberties. But the powerful private oligarchs will continue to write the legislation that Congress passes and the President signs. New members of Congress will quickly discover that achieving re-election requires bending to the oligarchs’ will. …”

http://www.infowars.com/the-impotence-of-elections/

 

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Federal Reserve Monetizes U.S. Government Treasury Debt By Printing Money–Quantitative Easing (QE2)–Devalues U.S Currency–Banks Steal American People’s Purchasing Power!

The Obama Depression Deepens–Federal Reserve Executes–QE II Plan–”Operation Pawnshop”–$2,500 Billion In Quantitative Easing–Money Printing–Will It Be Enough?

The Ruling Establishment’s Robbery Of The American People–Deflation–Inflation–Hyperinflation–Bust–Bailout–Boom–Bubble–The Fall Of The American Republic–The Rise of One World Government and Currency–Videos

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The Massive Fraud In Mortgages Continues–Crooks and Corrupt Politicians In Charge–Videos

Quantitative Easing–Videos

Deflation, Inflation and Uncertainty–Videos

The Trillion Dollar Bet–Videos

Read Full Post | Make a Comment ( None so far )

October, 2010 U.S. Unemployment Rates–9.6% (U3) and 17.0% (U-6) With 14,843,000 and 26,163,000 Americans Respectively Seeking Work–Higher Than Great Depression!

Posted on November 5, 2010. Filed under: Blogroll, Communications, Culture, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Investments, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Uncategorized, Video, Wisdom | Tags: , |

Employers Add 151K Jobs, Most Since May

Monthly Employment Situation

 

President Obama on October Employment Numbers

 

U.S. Adds 151,000 Jobs, Unemployment Holds at 9.6%

 

UnemploymentPercentage Rates Series  Unemployment Level
9.6% U-3 14,843,000 
17.0% U-6  26,163,680

 

 Unemployment Percentage Rate Group
9.7%   Adult Men
 8.1% Adult Women 
7.1% Asians
 15.7%  Blacks
 12.6%  Hispanics
27.1% Teenagers
   
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 3.3 3.5 3.2 3.1 3.3 3.2 3.3 3.3 3.3 3.3 3.4 3.4  
2001 3.6 3.7 3.8 3.9 3.9 4.0 4.1 4.4 4.3 4.8 5.0 5.1  
2002 5.2 5.2 5.2 5.4 5.2 5.3 5.3 5.2 5.2 5.3 5.5 5.6  
2003 5.6 5.5 5.4 5.7 5.8 6.0 5.9 5.8 5.7 5.6 5.6 5.2  
2004 5.2 5.1 5.2 5.1 5.2 5.1 5.0 5.0 5.0 4.9 4.9 4.8  
2005 4.7 4.8 4.6 4.4 4.3 4.3 4.2 4.3 4.5 4.3 4.3 4.3  
2006 4.0 4.2 4.1 4.2 4.2 4.0 4.1 4.1 3.7 3.9 4.0 3.9  
2007 4.2 4.2 4.0 4.0 4.0 4.0 4.2 4.1 4.2 4.3 4.2 4.5  
2008 4.4 4.4 4.6 4.6 4.9 5.1 5.4 5.7 6.1 6.4 6.8 7.4  
2009 7.8 8.4 8.9 9.4 9.8 10.0 9.8 10.2 10.3 10.6 10.4 10.2  
2010 10.0 10.0 10.0 10.1 9.8 9.9 9.7 9.8 9.8 9.7      
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
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 17.1 17.0      

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

Employers Add 151K Jobs, Most Since May

Background Articles and Videos

Employment Situation Summary

Transmission of material in this release is embargoed                   USDL-10-1519
until 8:30 a.m. (EDT) Friday, November 5, 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 -- OCTOBER 2010

Nonfarm payroll employment increased by 151,000 in October, and the
unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of
Labor Statistics reported today. Since December 2009, nonfarm payroll
employment has risen by 874,000.

Household Survey Data

The number of unemployed persons, at 14.8 million, was little changed
in October. The unemployment rate remained at 9.6 percent and has
been essentially unchanged since May. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men
(9.7 percent), adult women (8.1 percent), teenagers (27.1 percent),
whites (8.8 percent), blacks (15.7 percent), and Hispanics (12.6 per-
cent) showed little change in October. The jobless rate for Asians was
7.1 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 about unchanged over the month at 6.2 million. In October,
41.8 percent of unemployed persons had been jobless for 27 weeks or
more. (See table A-12.)

Both the civilian labor force participation rate, at 64.5 percent, and
the employment-population ratio, at 58.3 percent, edged down over the
month. (See table A-1.)

The number of persons employed part time for economic reasons (some-
times referred to as involuntary part-time workers) fell by 318,000
over the month to 9.2 million, partially offsetting large increases in
the prior 2 months. 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 2.6 million persons were marginally attached to the labor force
in October, up from 2.4 million a year earlier. (The data are not sea-
sonally adjusted.) These individuals were not in the labor force, want-
ed 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 1.2 million discouraged
workers in October, an increase of 411,000 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 1.4 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.
(See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 151,000 in October, re-
flecting job gains in mining and a number of service-providing indus-
tries. Private-sector payroll employment rose by 159,000 over the
month; since December 2009, employment in the private sector has risen
by 1.1 million. (See table B-1.)

Within professional and business services, employment in temporary
help services continued to increase in October, with a gain of 35,000.
Temporary help services has added 451,000 jobs since a recent low in
September 2009. Employment in computer systems design and related ser-
vices increased by 8,000 in October and has risen by 53,000 since a
recent low in June 2009.

Health care continued to add jobs in October (+24,000). The gain was
in line with the average increase over the prior 12 months (+20,000).

Retail trade employment rose by 28,000 in October, including increases
in automobile dealers (+6,000) and in electronics and appliance stores
(+5,000). After reaching a trough in December 2009, employment in re-
tail trade has expanded by 128,000.

Within leisure and hospitality, a job loss in arts, entertainment, and
recreation (-26,000) in October offset a gain in food services and
drinking places employment (+24,000). The food services industry has
added 143,000 jobs since a recent low in December 2009.

Mining employment continued to trend up (+8,000) over the month. Since
a recent low in October 2009, mining has added 88,000 jobs.

Employment in manufacturing changed little in October (-7,000) and, on
net, has essentially been flat since May. The industry had added
134,000 jobs during the first 5 months of this year.

Elsewhere in the private sector, employment in construction, wholesale
trade, transportation, information, and financial activities showed
little change in October.

Government employment overall was little changed in October. Employ-
ment in local government, excluding education, decreased by 14,000
over the month and has fallen by 123,000 over the past 12 months. The
number of temporary decennial census workers fell by 5,000 in October.
After peaking at 564,000 in May, there were only about 1,000 temporary
decennial census workers remaining on Federal payrolls in October.

The average workweek for all employees on private nonfarm payrolls
increased by 0.1 hour in October to 34.3 hours. The manufacturing
workweek for all employees also increased by 0.1 hour, to 40.3 hours,
while factory overtime was unchanged at 3.0 hours. The average work-
week for production and nonsupervisory employees on private nonfarm
payrolls increased by 0.1 hour to 33.6 hours in October.
(See tables B-2 and B-7.)

In October, average hourly earnings of all employees on private non-
farm payrolls increased by 5 cents to $22.73. Over the past 12 months,
average hourly earnings have increased by 1.7 percent. Average hourly
earnings of private-sector production and nonsupervisory employees
rose by 7 cents to $19.17. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for August was revised
from -57,000 to -1,000, and the change for September was revised from
-95,000 to -41,000.

___________
The Employment Situation for November is scheduled to be released on
Friday, December 3, 2010, at 8:30 a.m. (EST).

http://bls.gov/news.release/empsit.nr0.htm
 
 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 9.6 9.6      
 
 
 

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