Consumer Confidence Craters–Net Monthly Jobs Created In August–0% Change!–Where Are The Jobs?–Videos

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http://www.tradingeconomics.com/united-states/unemployment-rate

Employers Added No Net Jobs in August, Unemployment Rate Unchanged at 9.1%

August 30th 2011 CNBC Stock Market (Consumer Confidence)

Spector Says Consumer Confidence Reflects Leadership

Mike Ryan, SVP of Madison Performance Group Discusses August Unemployment Rate on Fox News Live

September 2nd 2011 CNBC Stock Market Squawk Box (August Jobs Report) Part 1 of 2

Unemployment Rate Unchanged at 9.1% — September 2, 2011

Where are the Jobs? The Parallels between Today and the Great Depression

US to face long-term crisis if unemployment rate continues around 9 percent

Edwards Says New U.S. Budget Data to Be `Depressing’

Lew Rockwell – “Politicians Are Just Bank Employees! We Need To Overthrow The Banks!”

Milton Friedman – The Great Depression Myth

Milton Friedman – Socialism vs. Capitalism

Background Articles and Videos

Ron Paul on Future of Unemployment

US economy created no job growth in August, data show

First time since 1945 that government has reported net monthly job change of zero

“…Nonfarm payrolls were unchanged last month, the Labor Department said Friday. It was the first time since 1945 that the government has reported a net monthly job change of zero. The August payrolls report was the worst since September 2010, while nonfarm employment for June and July was revised to show 58,000 fewer jobs. …”

http://www.msnbc.msn.com/id/44370462/ns/business/

Employers Add No Net Jobs in Aug.; Rate Unchanged

“…Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

It was the weakest jobs report since September 2010. The unemployment rate remained at 9.1 percent.

Stock futures plunged on the news. In the 15 minutes after the report was released, Dow futures fell 94 points, from 11,401 to 11,318.

A strike by 45,000 Verizon workers lowered the job totals. Those workers are now back on the job.

The weakness in employment was underscored by revisions to the jobs data for June and July. Collectively, those figures were lowered to show 57,000 fewer jobs added. The downward revisions were all in government jobs.

The average work week also declined and hourly earnings fell by 3 cents to $23.09. …”

http://abcnews.go.com/Business/wireStory?id=14432646

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 13542 13747 13914 14087 13931 13967

Official Unemployment Rate U-3

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

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 64.2 64.2 64.2 64.1 63.9 64.0

Total Unemployment Rate U-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

Unemployment Rate For 16-19 Years of Age

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
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 15.8 15.9 16.3 15.3 15.9 16.0 15.4 16.2 16.8
2008 17.8 16.5 16.0 15.8 19.0 19.2 20.8 18.7 19.2 20.0 20.3 20.6
2009 20.8 21.9 22.1 22.1 23.3 24.6 24.4 25.4 26.1 27.1 26.9 26.8
2010 26.2 25.0 26.0 25.4 26.4 25.8 26.1 26.2 26.0 27.1 24.5 25.4
2011 25.7 23.9 24.5 24.9 24.2 24.5 25.0 25.4

Employment Situation Summary

Transmission of material in this release is embargoed         	     USDL-11-1277
until 8:30 a.m. (EDT) Friday, September 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 -- AUGUST 2011

Nonfarm payroll employment was unchanged (0) in August, and the unemployment
rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment in most major industries changed little over the month. Health
care continued to add jobs, and a decline in information employment reflected
a strike. Government employment continued to trend down, despite the return
of workers from a partial government shutdown in Minnesota.

Household Survey Data

The number of unemployed persons, at 14.0 million, was essentially unchanged
in August, and the unemployment rate held at 9.1 percent. The rate has shown
little change since April. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (8.9
percent), adult women (8.0 percent), teenagers (25.4 percent), whites
(8.0 percent), blacks (16.7 percent), and Hispanics (11.3 percent) showed
little or no change in August. 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 at 6.0 million in August and accounted for 42.9 percent of the
unemployed. (See table A-12.)

The labor force rose to 153.6 million in August. Both the civilian labor force
participation rate, at 64.0 percent, and the employment-population ratio, at
58.2 percent, were little changed. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) rose from 8.4 million to 8.8
million in August. 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
August, up from 2.4 million 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 977,000 discouraged workers in
August, down by 133,000 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 1.6
million persons marginally attached to the labor force in August 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, at 131.1 million, was unchanged (0) in
August. Employment changed little in most major private-sector industries.
(See table B-1.)

Health care employment rose by 30,000 in August. Ambulatory health care
services and hospitals added 18,000 and 8,000 jobs, respectively. Over the
past 12 months, health care employment has grown by 306,000.

Employment in mining continued to trend up in August (+6,000). Since reaching
a trough in October 2009, employment in mining has risen by 144,000, with
mining support activities accounting for most of the gain.

Within professional and business services, computer systems design and related
services added 8,000 jobs in August. Employment in temporary help services
changed little over the month (+5,000) and has shown little movement on net so
far this year.

Employment in the information industry declined by 48,000 in August. About
45,000 workers in the telecommunications industry were on strike and thus off
company payrolls during the survey reference period.

Manufacturing employment was essentially unchanged in August (-3,000),
following a gain of 36,000 in July. For the past 4 months, manufacturing has
added an average of 14,000 jobs per month, compared with an average of 35,000
jobs per month in the first 4 months of the year.

Elsewhere in the private sector, employment in construction; trade,
transportation, and utilities; financial activities; and leisure and
hospitality changed little over the month. 

Government employment continued to trend down over the month (-17,000).
Despite the return of about 22,000 workers from a partial government shutdown
in Minnesota, employment in state government changed little in August (+5,000).
Employment in local government continued to decline. Since employment peaked
in September 2008, local government has lost 550,000 jobs.

The average workweek for all employees on private nonfarm payrolls edged
down by 0.1 hour over the month to 34.2 hours. The manufacturing workweek
was 40.3 hours for the third consecutive month; factory overtime increased
by 0.1 hour over the month to 3.2 hours. The average workweek for production
and nonsupervisory employees on private nonfarm payrolls edged down to 33.5
hours in August, after holding at 33.6 hours for the prior 6 months. (See
tables B-2 and B-7.)

In August, average hourly earnings for all employees on private nonfarm
payrolls decreased by 3 cents, or 0.1 percent, to $23.09. This decline
followed an 11-cent gain in July. Over the past 12 months, average hourly
earnings have increased by 1.9 percent. In August, average hourly earnings
of private-sector production and nonsupervisory employees decreased by
2 cents, or 0.1 percent, to $19.47. (See tables B-3 and B-8.) 

The change in total nonfarm payroll employment for June was revised from
+46,000 to +20,000, and the change for July was revised from +117,000 to
+85,000.

_____________
The Employment Situation for September is scheduled to be released on Friday,
October 7, 2011, at 8:30 a.m. (EDT).

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