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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