United States Economy Keeps Stagnating Along With Low Real GDP Economic Growth Rates Below 3% and Labor Participation Rates Below 66% — Obama’s Failed Economic Policies and Massive Deficits and Debt — Videos

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Story 2: United States Economy Keeps Stagnating Along With Low Real GDP Economic Growth Rates Below 3% and Labor Participation Rates Below 66% — Obama’s Failed Economic Policies and Massive Deficits and Debt — Videos

sgs-emp

gdp_large

Ep 81: The April Jobs Report and My Encounter With Ben Bernanke

U.S. gains 223,000 jobs in April

Labor Force Participation Rate

Labor participation rate is down to unprecedented levels

Governor Perry: Labor Force Participation Rate Reveals a ‘Sick Economy’

WSJ Markets Wrap: May 8, 2015

Modern Wall Street AM Anticipation: May 8, 2015

Weekly Market Wrap Up – May, 8 2015

May 8, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

Closing Bell Happy Hour: May 8, 2015

April Produces Encouraging Jobs Report

Civilian Labor Force Level

157,072,00

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

civilian labor force

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 153484(1) 153694 153954 154622 154091 153616 153691 154086 153975 153635 154125 153650
2011 153314(1) 153227 153377 153566 153492 153350 153276 153746 154085 153935 154089 153961
2012 154445(1) 154739 154765 154589 154899 155088 154927 154726 155060 155491 155305 155553
2013 155825(1) 155396 155026 155401 155562 155761 155632 155529 155548 154615 155304 155047
2014 155486(1) 155688 156180 155420 155629 155700 156048 156018 155845 156243 156402 156129
2015 157180(1) 157002 156906 157072
1 : Data affected by changes in population controls.

Labor Force Participation Rate

62.8%

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

Civilian labor force participation

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.7
2013 63.7 63.5 63.3 63.4 63.4 63.4 63.3 63.2 63.2 62.8 63.0 62.8
2014 63.0 63.0 63.2 62.8 62.8 62.8 62.9 62.9 62.7 62.8 62.9 62.7
2015 62.9 62.8 62.7 62.8

 

Employment Level

 

148, 523, 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

employment level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 138438(1) 138581 138751 139297 139241 139141 139179 139438 139396 139119 139044 139301
2011 139267(1) 139400 139649 139610 139639 139392 139520 139940 140156 140336 140780 140890
2012 141633(1) 141911 142069 141953 142231 142400 142270 142277 142953 143350 143279 143280
2013 143328(1) 143429 143374 143665 143890 144025 144275 144288 144297 143453 144490 144671
2014 145206(1) 145301 145796 145724 145868 146247 146401 146451 146607 147260 147331 147442
2015 148201(1) 148297 148331 148523
1 : Data affected by changes in population controls.

Unemployment Level
8,549,000

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

Unemployment Level
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 15046 15113 15202 15325 14849 14474 14512 14648 14579 14516 15081 14348
2011 14046 13828 13728 13956 13853 13958 13756 13806 13929 13599 13309 13071
2012 12812 12828 12696 12636 12668 12688 12657 12449 12106 12141 12026 12272
2013 12497 11967 11653 11735 11671 11736 11357 11241 11251 11161 10814 10376
2014 10280 10387 10384 9696 9761 9453 9648 9568 9237 8983 9071 8688
2015 8979 8705 8575 8549

U- 3 Unemployment Rate

5.4%

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

unemployment rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.2 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.0 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6 6.7 6.6 6.2 6.3 6.1 6.2 6.1 5.9 5.7 5.8 5.6
2015 5.7 5.5 5.5 5.4

Not In Labor Force

93,194,000

Series Id:           LNS15000000
Seasonally Adjusted
Series title:        (Seas) Not in Labor Force
Labor force status:  Not in labor force
Type of data:        Number in thousands
Age:                 16 years and over

Not in labor force

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 69142 69120 69338 69267 69853 69876 70398 70401 70645 70782 70579 70488
2001 70088 70409 70381 70956 71414 71592 71526 72136 71676 71817 71876 72010
2002 72623 72010 72343 72281 72260 72600 72827 72856 72554 73026 73508 73675
2003 73960 74015 74295 74066 74268 73958 74767 75062 75249 75324 75280 75780
2004 75319 75648 75606 75907 75903 75735 75730 76113 76526 76399 76259 76581
2005 76808 76677 76846 76514 76409 76673 76721 76642 76739 76958 77138 77394
2006 77339 77122 77161 77318 77359 77317 77535 77451 77757 77634 77499 77376
2007 77506 77851 77982 78818 78810 78671 78904 79461 79047 79532 79105 79238
2008 78554 79156 79087 79429 79102 79314 79395 79466 79790 79736 80189 80380
2009 80529 80374 80953 80762 80705 80938 81367 81780 82495 82766 82865 83813
2010 83349 83304 83206 82707 83409 84075 84199 84014 84347 84895 84590 85240
2011 85390 85624 85623 85580 85821 86140 86395 86125 85986 86335 86351 86624
2012 87824 87696 87839 88195 88066 88068 88427 88840 88713 88491 88870 88797
2013 88838 89432 89969 89774 89801 89791 90124 90430 90620 91766 91263 91698
2014 91429 91398 91077 92019 91993 92114 91975 92210 92601 92414 92442 92898
2015 92544 92898 93175 93194

Total Unemployment Rate U-6

10.8%

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

u6-unemploment rate

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.3 15.8 15.5 15.2
2012 15.2 15.0 14.5 14.6 14.8 14.8 14.8 14.6 14.7 14.4 14.4 14.4
2013 14.5 14.3 13.8 14.0 13.8 14.2 13.8 13.6 13.6 13.7 13.1 13.1
2014 12.7 12.6 12.6 12.3 12.1 12.0 12.2 12.0 11.7 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.8

Employment Situation Summary

Transmission of material in this release is embargoed until                  USDL-15-0838
8:30 a.m. (EDT) Friday, May 8, 2015

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 -- APRIL 2015


Total nonfarm payroll employment increased by 223,000 in April, and the 
unemployment rate was essentially unchanged at 5.4 percent, the U.S. Bureau
of Labor Statistics reported today. Job gains occurred in professional and 
business services, health care, and construction. Mining employment 
continued to decline.

Household Survey Data

In April, both the unemployment rate (5.4 percent) and the number of 
unemployed persons (8.5 million) were essentially unchanged. Over the 
year, the unemployment rate and the number of unemployed persons were down 
by 0.8 percentage point and 1.1 million, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for Asians increased 
to 4.4 percent. The rates for adult men (5.0 percent), adult women (4.9 
percent), teenagers (17.1 percent), whites (4.7 percent), blacks (9.6 
percent), and Hispanics (6.9 percent) showed little or no change in April. 
(See tables A-1, A-2, and A-3.)

The number of persons unemployed for less than 5 weeks increased by 241,000 
to 2.7 million in April. The number of long-term unemployed (those 
jobless for 27 weeks or more) changed little at 2.5 million, accounting 
for 29.0 percent of the unemployed. Over the past 12 months, the number 
of long-term unemployed has decreased by 888,000. (See table A-12.)

In April, the civilian labor force participation rate (62.8 percent) 
changed little. Since April 2014, the participation rate has remained 
within a narrow range of 62.7 percent to 62.9 percent. The employment-
population ratio held at 59.3 percent in April and has been at this level 
since January. (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 6.6 
million in April, but is down by 880,000 from a year earlier. These 
individuals, who would have preferred full-time employment, 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 April, 2.1 million persons were marginally attached to the labor 
force, little changed over the year. (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 756,000 discouraged workers 
in April, little different 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 in April 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 223,000 in April, after 
edging up in March (+85,000). In April, employment increased in 
professional and business services, health care, and construction, 
while employment in mining continued to decline. (See table B-1.)

Professional and business services added 62,000 jobs in April. 
Over the prior 3 months, job gains averaged 35,000 per month. In 
April, services to buildings and dwellings added 16,000 jobs, 
following little change in March. Employment continued to trend up 
in April in computer systems design and related services (+9,000), 
in business support services (+7,000), and in management and 
technical consulting services (+6,000).

Health care employment increased by 45,000 in April. Job growth was 
distributed among the three major components--ambulatory health care 
services (+25,000), hospitals (+12,000), and nursing and residential 
care facilities (+8,000). Over the past year, health care has added 
390,000 jobs.

Employment in construction rose by 45,000 in April, after changing 
little in March. Over the past 12 months, construction has added 
280,000 jobs. In April, job growth was concentrated in specialty 
trade contractors (+41,000), with employment gains about evenly 
split between the residential and nonresidential components. 
Employment declined over the month in nonresidential building 
construction (-8,000).

In April, employment continued to trend up in transportation and 
warehousing (+15,000).

Employment in mining fell by 15,000 in April, with most of the job 
loss in support activities for mining (-10,000) and in oil and gas 
extraction (-3,000). Since the beginning of the year, employment 
in mining has declined by 49,000, with losses concentrated in 
support activities for mining.

Employment in other major industries, including manufacturing, 
wholesale trade, retail trade, information, financial activities, 
leisure and hospitality, and government, showed little change 
over the month.

The average workweek for all employees on private nonfarm payrolls 
remained at 34.5 hours in April. The manufacturing workweek for 
all employees edged down by 0.1 hour to 40.8 hours, and factory 
overtime edged down by 0.1 hour to 3.2 hours. 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 April, average hourly earnings for all employees on private 
nonfarm payrolls rose by 3 cents to $24.87. Over the past 12 
months, average hourly earnings have increased by 2.2 percent. 
Average hourly earnings of private-sector production and 
nonsupervisory employees edged up by 2 cents to $20.90 in April. 
(See tables B-3 and B-8.)

The change in total nonfarm payroll employment for February was 
revised from +264,000 to +266,000, and the change for March was 
revised from +126,000 to +85,000. With these revisions, 
employment gains in February and March combined were 39,000 
lower than previously reported. Over the past 3 months, job 
gains have averaged 191,000 per month.

_____________
The Employment Situation for May is scheduled to be released 
on Friday, June 5, 2015, at 8:30 a.m. (EDT).

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

Civilian noninstitutional population247,439249,899250,080250,266186Civilian labor force155,420157,002156,906157,072166Participation rate62.862.862.762.80.1Employed145,724148,297148,331148,523192Employment-population ratio58.959.359.359.30.0Unemployed9,6968,7058,5758,549-26Unemployment rate6.25.55.55.4-0.1Not in labor force92,01992,89893,17593,19419Unemployment rates
Total, 16 years and over6.25.55.55.4-0.1Adult men (20 years and over)5.95.25.15.0-0.1Adult women (20 years and over)5.74.94.94.90.0Teenagers (16 to 19 years)19.117.117.517.1-0.4White5.34.74.74.70.0Black or African American11.410.410.19.6-0.5Asian5.94.03.24.41.2Hispanic or Latino ethnicity7.56.66.86.90.1Total, 25 years and over5.24.54.44.50.1Less than a high school diploma8.88.48.68.60.0High school graduates, no college6.35.45.35.40.1Some college or associate degree5.65.14.84.7-0.1Bachelor’s degree and higher3.32.72.52.70.2Reason for unemployment
Job losers and persons who completed temporary jobs5,1534,1804,1894,136-53Job leavers786884875828-47Reentrants2,6312,6552,6892,685-4New entrants1,05297281586853Duration of unemployment
Less than 5 weeks2,4512,4312,4882,7292415 to 14 weeks2,3462,2232,3122,307-515 to 26 weeks1,5091,3351,2531,139-11427 weeks and over3,4132,7092,5632,525-38Employed persons at work part time
Part time for economic reasons7,4606,6356,7056,580-125Slack work or business conditions4,5173,8474,0693,885-184Could only find part-time work2,6242,4262,3372,37437Part time for noneconomic reasons18,91519,83719,73320,056323Persons not in the labor force (not seasonally adjusted)
Marginally attached to the labor force2,1602,1592,0552,115Discouraged workers783732738756– 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.
http://www.bls.gov/news.release/empsit.a.htmEmployment Situation Summary Table B. Establishment data, seasonally adjustedhttp://www.bls.gov/news.release/empsit.b.htm2015 April Job Cut Report: Cuts Surge to 61,582, 3-Year High

Falling oil prices contributed to a 68 percent surge in job cuts last month, as US-based employers announced workforce reductions totaling 61,582 in April, up from 36,594 in March, according to the latest report on monthly layoffs released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The April total was 53 percent higher than the same month a year ago, when 40,298 planned job cuts were recorded. It represents the highest monthly total since May 2012 (61,887) and the highest April total since 2009 (132,590).

Year to date, employers have announced 201,796 planned job cuts, which marks a 25 percent increase from the 161,639 layoffs tracked in the first four months of 2014. This is the largest four-month total since 2010.

Driving the increased pace of job cutting in April and for the year is the dramatic decline in oil prices, which is forcing producers and suppliers to cut production. Of the 61,582 job cut announced last month, 20,675 or 34 percent were directly attributed to oil prices.

For the year, oil prices were blamed for 68,285 job cuts, or about 34 percent of the 201,796 planned layoffs announced between January 1 and April 30.

“Schlumberger, Baker Hughes and Halliburton have all announced multiple rounds of job cuts in recent months, including April. The largest job cut of the month came from Schlumberger, which announced that it will shed 11,000 workers, in addition to the 9,000 laid off in January,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

“The jobs that are most vulnerable are those in the field – engineers, oil rig operators, drill operators, refinery operators, etc. Managers and executives in the corporate offices are more secure, but the drop in oil prices is leading to increased merger activity, which could put more executives at risk of job loss,” said Challenger.

Most of the oil-related layoffs have occurred in the energy sector, which is the top job-cutting industry to date, with 57,556 planned cuts. That is more than double the second-ranked retail sector, which has announced 26,096 job cuts this year.

The pace of retail sector job cuts is slightly higher than a year ago, when these employers announced 25,224 job cuts through the first four months.

“Low oil prices should be helping retailers. However, the extra money in Americans’ wallets do not appear to be making it into the nation’s cash registers. Retail sales have been lackluster, at best. Furthermore, consumer products giant Procter & Gamble announced in April that it would reduce its headcount by as many as 6,000 workers over the next two years, following a poor earnings report,” noted Challenger.

“We could be witnessing the after-effect of the severe and protracted recession. Much like the generation that lived through the Great Depression, those who scraped by during the recession are being extra careful with their money. Another factor is that not everyone’s boat is rising with the tide. Many Americans are still struggling to find work and those that do are not earning as much they once did,” he said.

https://www.challengergray.com/press/press-releases/2015-april-job-cut-report-cuts-surge-61582-3-year-high

 

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]

CategoryApr.
2014Feb.
2015Mar.
2015Apr.
2015Change from:
Mar.
2015-
Apr.
2015

Employment status

 

Civilian noninstitutional population

247,439249,899250,080250,266186

Civilian labor force

155,420157,002156,906157,072166

Participation rate

62.862.862.762.80.1

Employed

145,724148,297148,331148,523192

Employment-population ratio

58.959.359.359.30.0

Unemployed

9,6968,7058,5758,549-26

Unemployment rate

6.25.55.55.4-0.1

Not in labor force

92,01992,89893,17593,19419

Unemployment rates

 

Total, 16 years and over

6.25.55.55.4-0.1

Adult men (20 years and over)

5.95.25.15.0-0.1

Adult women (20 years and over)

5.74.94.94.90.0

Teenagers (16 to 19 years)

19.117.117.517.1-0.4

White

5.34.74.74.70.0

Black or African American

11.410.410.19.6-0.5

Asian

5.94.03.24.41.2

Hispanic or Latino ethnicity

7.56.66.86.90.1

Total, 25 years and over

5.24.54.44.50.1

Less than a high school diploma

8.88.48.68.60.0

High school graduates, no college

6.35.45.35.40.1

Some college or associate degree

5.65.14.84.7-0.1

Bachelor’s degree and higher

3.32.72.52.70.2

Reason for unemployment

 

Job losers and persons who completed temporary jobs

5,1534,1804,1894,136-53

Job leavers

786884875828-47

Reentrants

2,6312,6552,6892,685-4

New entrants

1,05297281586853

Duration of unemployment

 

Less than 5 weeks

2,4512,4312,4882,729241

5 to 14 weeks

2,3462,2232,3122,307-5

15 to 26 weeks

1,5091,3351,2531,139-114

27 weeks and over

3,4132,7092,5632,525-38

Employed persons at work part time

 

Part time for economic reasons

7,4606,6356,7056,580-125

Slack work or business conditions

4,5173,8474,0693,885-184

Could only find part-time work

2,6242,4262,3372,37437

Part time for noneconomic reasons

18,91519,83719,73320,056323

Persons not in the labor force (not seasonally adjusted)

 

Marginally attached to the labor force

2,1602,1592,0552,115

Discouraged workers

783732738756

 

– 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
CategoryApr.
2014Feb.
2015Mar.
2015(p)Apr.
2015(p)

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

 

Total nonfarm

33026685223

Total private

31326194213

Goods-producing

5820-2131

Mining and logging

6-14-12-15

Construction

4131-945

Manufacturing

11301

Durable goods(1)

1261-1

Motor vehicles and parts

0.53.4-0.76.0

Nondurable goods

-1-3-12

Private service-providing

255241115182

Wholesale trade

14.910.49.9-4.5

Retail trade

42.723.124.512.1

Transportation and warehousing

12.99.48.115.2

Utilities

-0.80.91.01.3

Information

5703

Financial activities

9979

Professional and business services(1)

72493562

Temporary help services

13.8-4.413.216.1

Education and health services(1)

39613561

Health care and social assistance

29.738.730.655.6

Leisure and hospitality

4561-617

Other services

151016

Government

175-910

(3-month average change, in thousands)

 

Total nonfarm

248265184191

Total private

237261186189

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

 

Total nonfarm women employees

49.449.349.349.3

Total private women employees

47.947.947.947.9

Total private production and nonsupervisory employees

82.782.582.582.4

HOURS AND EARNINGS
ALL EMPLOYEES

 

Total private

 

Average weekly hours

34.534.634.534.5

Average hourly earnings

$24.34$24.78$24.84$24.87

Average weekly earnings

$839.73$857.39$856.98$858.02

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

100.5103.1102.8103.0

Over-the-month percent change

0.30.3-0.30.2

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

116.8121.9121.9122.3

Over-the-month percent change

0.30.30.00.3

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

 

Total private (263 industries)

69.862.059.557.0

Manufacturing (80 industries)

58.154.445.650.6

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

NOTE: Data have been revised to reflect March 2014 benchmark levels and updated seasonal adjustment factors.

 

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