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
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
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
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
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
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
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
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
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 force2,1602,1592,0552,115–Discouraged 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.
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)
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.
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
Posted on May 13, 2015. Filed under: American History, Articles, Blogroll, Business, College, Communications, Computers, Constitution, Corruption, Crime, Data, Demographics, Documentary, Economics, Education, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, Health Care, history, Illegal, Immigration, Investments, IRS, Law, Legal, liberty, Life, Links, media, Money, Obamacare, People, Philosophy, Politics, Press, Public Sector, Rants, Raves, Regulations, Resources, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Welfare, Wisdom, Writing | Tags: 8 May 2015, 93 Million, America, articles, Audio, BLS, Breaking News, Broadcasting, capitalism, Cartoons, Charity, Citizenship, Civilian Labor Force Level, Clarity, Classical Liberalism, Collectivism, Commentary, Commitment, Communicate, Communication, Concise, Convincing, Courage, Culture, Current Affairs, Current Events, Department of Labor, economic growth, economic policy, Economics, Education, Evil, Experience, Faith, Family, First, fiscal policy, free enterprise, freedom, freedom of speech, Friends, Give It A Listen, God, Good, Goodwill, Growth, Hope, Individualism, Job Creation, Jobs Report for April 2015, Knowledge, Labor Participation Rate, Labor Participation Rates Below 66%, liberty, Life, Love, Lovers of Liberty, Massive Deficitis, monetary policy, MPEG3, New Entrants, News, Not In Labor Force, Obama Recession, Obama's Failed Economic Policies, Opinions, Part-time Jobs, Peace, Peter Schiff, Photos, Podcasts, Political Philosophy, Politics, Poor Economic Recovery, prosperity, Radio, Raymond Thomas Pronk, Real GDP Economic Growth Rates Below 3%, Representative Republic, Republic, Resources, Respect, rule of law, Rule of Men, Show Notes, Story 2, Talk Radio, The Pronk Pops Show, The Pronk Pops Show 462, Trends, Truth, Tyranny, U-3 Unemployment Rate, U-6 Unemployment Rate, U.S. Constitution, Unemployment Rate, United States Economy Keeps Stagnating, United States of America, Videos, Virtue, War, wealth creation, Wisdom |
The Pronk Pops Show Podcasts
Pronk Pops Show 462 May 8, 2015
Pronk Pops Show 461 May 7, 2015
Pronk Pops Show 460 May 6, 2015
Pronk Pops Show 459 May 4, 2015
Pronk Pops Show 458 May 1, 2015
Pronk Pops Show 457 April 30, 2015
Pronk Pops Show 456: April 29, 2015
Pronk Pops Show 455: April 28, 2015
Pronk Pops Show 454: April 27, 2015
Pronk Pops Show 453: April 24, 2015
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Pronk Pops Show 451: April 22, 2015
Pronk Pops Show 450: April 21, 2015
Pronk Pops Show 449: April 20, 2015
Pronk Pops Show 448: April 17, 2015
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Pronk Pops Show 446: April 15, 2015
Pronk Pops Show 445: April 14, 2015
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Pronk Pops Show 443: April 9, 2015
Pronk Pops Show 442: April 8, 2015
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Pronk Pops Show 440: April 2, 2015
Pronk Pops Show 439: April 1, 2015
Pronk Pops Show 438: March 31, 2015
Pronk Pops Show 437: March 30, 2015
Pronk Pops Show 436: March 27, 2015
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Pronk Pops Show 433: March 24, 2015
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Pronk Pops Show 429: March 18, 2015
Pronk Pops Show 428: March 17, 2015
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Pronk Pops Show 426: March 6, 2015
Pronk Pops Show 425: March 4, 2015
Pronk Pops Show 424: March 2, 2015
Pronk Pops Show 423: February 26, 2015
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Pronk Pops Show 421: February 20, 2015
Pronk Pops Show 420: February 19, 2015
Pronk Pops Show 419: February 18, 2015
Pronk Pops Show 418: February 16, 2015
Pronk Pops Show 417: February 13, 2015
Pronk Pops Show 416: February 12, 2015
Pronk Pops Show 415: February 11, 2015
Pronk Pops Show 414: February 10, 2015
Pronk Pops Show 413: February 9, 2015
Pronk Pops Show 412: February 6, 2015
Pronk Pops Show 411: February 5, 2015
Pronk Pops Show 410: February 4, 2015
Pronk Pops Show 409: February 3, 2015
Pronk Pops Show 408: February 2, 2015
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
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
Labor Force Participation Rate
62.8%
Employment Level
148, 523, 000
Unemployment Level
8,549,000
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
Not In Labor Force
93,194,000
Total Unemployment Rate U-6
10.8%
Employment Situation Summary
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 force2,1602,1592,0552,115–Discouraged 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
Summary table A. Household data, seasonally adjusted
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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