First Good Jobs Report In Years with 321,000 Jobs Created In November With 5.8% Unemployment Rate U-3, 9.1 Million Unemployed — Still 10-12 Million Jobs Short Due To Low Labor Participation Rate of 62.8% — Years Away From Near Full Unemployment Rate of 3% With 67% Labor Participation Rate — National Debt Hits $18 Trillion and Climbing — Videos

Posted on December 6, 2014. Filed under: American History, Banking, Blogroll, British History, Central Intelligence Agency (CIA), College, Communications, Constitution, Crisis, Data, Demographics, Diasters, Economics, Education, Energy, Enivornment, European History, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Friends, government, government spending, Health Care, history, Illegal, Immigration, Inflation, Investments, Islam, Islam, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, National Security Agency (NSA_, Natural Gas, Natural Gas, Nuclear Power, Obamacare, Oil, Oil, People, Philosophy, Photos, Politics, Press, Psychology, Public Sector, Radio, Raves, Regulations, Religion, Resources, Security, Shite, Sunni, Talk Radio, Tax Policy, Taxes, Technology, Terrorism, Unemployment, Video, War, Wealth, Weapons | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 383: December 5, 2014

Pronk Pops Show 382: December 4, 2014

Pronk Pops Show 381: December 3, 2014

Pronk Pops Show 380: December 1, 2014

Pronk Pops Show 379: November 26, 2014

Pronk Pops Show 378: November 25, 2014

Pronk Pops Show 377: November 24, 2014

Pronk Pops Show 376: November 21, 2014

Pronk Pops Show 375: November 20, 2014

Pronk Pops Show 374: November 19, 2014

Pronk Pops Show 373: November 18, 2014

Pronk Pops Show 372: November 17, 2014

Pronk Pops Show 371: November 14, 2014

Pronk Pops Show 370: November 13, 2014

Pronk Pops Show 369: November 12, 2014

Pronk Pops Show 368: November 11, 2014

Pronk Pops Show 367: November 10, 2014

Pronk Pops Show 366: November 7, 2014

Pronk Pops Show 365: November 6, 2014

Pronk Pops Show 364: November 5, 2014

Pronk Pops Show 363: November 4, 2014

Pronk Pops Show 362: November 3, 2014

Pronk Pops Show 361: October 31, 2014

Pronk Pops Show 360: October 30, 2014

Pronk Pops Show 359: October 29, 2014

Pronk Pops Show 358: October 28, 2014

Pronk Pops Show 357: October 27, 2014

Pronk Pops Show 356: October 24, 2014

Pronk Pops Show 355: October 23, 2014

Pronk Pops Show 354: October 22, 2014

Pronk Pops Show 353: October 21, 2014

Pronk Pops Show 352: October 20, 2014

Pronk Pops Show 351: October 17, 2014

Pronk Pops Show 350: October 16, 2014

Pronk Pops Show 349: October 15, 2014

Pronk Pops Show 348: October 14, 2014

Pronk Pops Show 347: October 13, 2014

Pronk Pops Show 346: October 9, 2014

Pronk Pops Show 345: October 8, 2014

Pronk Pops Show 344: October 6, 2014

Pronk Pops Show 343: October 3, 2014

Pronk Pops Show 342: October 2, 2014

Pronk Pops Show 341: October 1, 2014

Pronk Pops Show 340: September 30, 2014

Pronk Pops Show 339: September 29, 2014

Pronk Pops Show 338: September 26, 2014

Pronk Pops Show 337: September 25, 2014

Pronk Pops Show 336: September 24, 2014

Pronk Pops Show 335: September 23 2014

Pronk Pops Show 334: September 22 2014

Pronk Pops Show 333: September 19 2014

Pronk Pops Show 332: September 18 2014

Pronk Pops Show 331: September 17, 2014

Pronk Pops Show 330: September 16, 2014

Pronk Pops Show 329: September 15, 2014

Pronk Pops Show 328: September 12, 2014

Pronk Pops Show 327: September 11, 2014

Pronk Pops Show 326: September 10, 2014

Pronk Pops Show 325: September 9, 2014

Pronk Pops Show 324: September 8, 2014

Pronk Pops Show 323: September 5, 2014

Pronk Pops Show 322: September 4, 2014

Pronk Pops Show 321: September 3, 2014

Story 1: First Good Jobs Report In Years with 321,000 Jobs Created In November With 5.8% Unemployment Rate U-3, 9.1  Million Unemployed — Still 10-12 Million Jobs Short Due To Low Labor Participation Rate of 62.8% — Years Away From Near Full Unemployment Rate of 3% With 67% Labor Participation Rate — National Debt Hits $18 Trillion and Climbing —  Videos

national-debt-wave

37b-cartoon Cartoon-Stretched-Thin-ALG-600 national_debt

sinkhole-cartoon_thumb

U.S. Debt Clock

http://www.usdebtclock.org/

 

sgs-emp

http://www.shadowstats.com/alternate_data/unemployment-charts

private sector payroll employment monthly change

gdp_large

world-oil-supplyunnamed

Crude Oil Brent

Latest Price & Chart for Crude Oil Brent

End of day Commodity Futures Price Quotes for Crude Oil Brent

oil_spot

 http://www.nasdaq.com/markets/crude-oil-brent.aspx#ixzz3LA0mUyxX

OilPriceChartDec2014

Get Ready for More Layoffs and Higher Unemployment

Ep 28: Media Spins Horrible Holiday Sales as Reflecting Economic Strength

The Real Reason for Falling Oil and Gas Prices

Crude Oil Drop – Richard Perrin – December 5, 2014

Could Oil Fall To $60?

Series Preview: The Global Drop in Oil Prices

Falling Gas Prices Impact US Oil Extraction

Over $150 Billion of Oil Projects Face Axe in 2015

Nook Fail, Jobs Report, Buffet backs Clinton – Today’s Investor News

Mohamed El-Erian: Nov. Jobs Report Is Great News for Economy

Hiring surge: 321k jobs added in November

Employment Situation Report – November 2014

Labor Force Statistics from the Current Population Survey

Employment Level

147,287,000

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 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 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 138451(1) 138599 138752 139309 139247 139148 139179 139427 139393 139111 139030 139266
2011 139287(1) 139422 139655 139622 139653 139409 139524 139904 140154 140335 140747 140836
2012 141677(1) 141943 142079 141963 142257 142432 142272 142204 142947 143369 143233 143212
2013 143384(1) 143464 143393 143676 143919 144075 144285 144179 144270 143485 144443 144586
2014 145224(1) 145266 145742 145669 145814 146221 146352 146368 146600 147283 147287
1 : Data affected by changes in population controls.

 

Civilian Labor Force Level

156,397,000

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 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 153404(1) 153720 153964 154642 154106 153631 153706 154087 153971 153631 154127 153639
2011 153198(1) 153280 153403 153566 153526 153379 153309 153724 154059 153940 154072 153927
2012 154328(1) 154826 154811 154565 154946 155134 154970 154669 155018 155507 155279 155485
2013 155699(1) 155511 155099 155359 155609 155822 155693 155435 155473 154625 155284 154937
2014 155460(1) 155724 156227 155421 155613 155694 156023 155959 155862 156278 156397
1 : Data affected by changes in population controls.

 

Labor Force Participation Rate

62.8%

Labor 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 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 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 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 62.8 62.7 62.8 62.8

 

Unemployment Level

9,110,000

 

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 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 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 14953 15121 15212 15333 14858 14483 14527 14660 14578 14520 15097 14373
2011 13910 13858 13748 13944 13873 13971 13785 13820 13905 13604 13326 13090
2012 12650 12883 12732 12603 12689 12702 12698 12464 12070 12138 12045 12273
2013 12315 12047 11706 11683 11690 11747 11408 11256 11203 11140 10841 10351
2014 10236 10459 10486 9753 9799 9474 9671 9591 9262 8995 9110

Unemployment Rate U-3

5.8%

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 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 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.9 9.9 9.6 9.4 9.5 9.5 9.5 9.5 9.8 9.4
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.2 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.8 7.9
2013 7.9 7.7 7.5 7.5 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6 6.7 6.7 6.3 6.3 6.1 6.2 6.1 5.9 5.8 5.8

 

Employment -Population Ratio

5.9%

Series Id:           LNS12300000
Seasonally Adjusted
Series title:        (Seas) Employment-Population Ratio
Labor force status:  Employment-population ratio
Type of data:        Percent or rate
Age:                 16 years and over

employment population ratio

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 64.6 64.6 64.6 64.7 64.4 64.5 64.2 64.2 64.2 64.2 64.3 64.4
2001 64.4 64.3 64.3 64.0 63.8 63.7 63.7 63.2 63.5 63.2 63.0 62.9
2002 62.7 63.0 62.8 62.7 62.9 62.7 62.7 62.7 63.0 62.7 62.5 62.4
2003 62.5 62.5 62.4 62.4 62.3 62.3 62.1 62.1 62.0 62.1 62.3 62.2
2004 62.3 62.3 62.2 62.3 62.3 62.4 62.5 62.4 62.3 62.3 62.5 62.4
2005 62.4 62.4 62.4 62.7 62.8 62.7 62.8 62.9 62.8 62.8 62.7 62.8
2006 62.9 63.0 63.1 63.0 63.1 63.1 63.0 63.1 63.1 63.3 63.3 63.4
2007 63.3 63.3 63.3 63.0 63.0 63.0 62.9 62.7 62.9 62.7 62.9 62.7
2008 62.9 62.8 62.7 62.7 62.5 62.4 62.2 62.0 61.9 61.7 61.4 61.0
2009 60.6 60.3 59.9 59.8 59.6 59.4 59.3 59.1 58.7 58.5 58.6 58.3
2010 58.5 58.5 58.5 58.7 58.6 58.5 58.5 58.6 58.5 58.3 58.2 58.3
2011 58.4 58.4 58.4 58.4 58.4 58.2 58.2 58.3 58.4 58.4 58.5 58.5
2012 58.5 58.5 58.6 58.5 58.6 58.6 58.5 58.4 58.6 58.8 58.7 58.6
2013 58.6 58.6 58.5 58.6 58.7 58.7 58.7 58.6 58.6 58.2 58.6 58.6
2014 58.8 58.8 58.9 58.9 58.9 59.0 59.0 59.0 59.0 59.2 59.2

 

Unemployment Rate 16-19 Years Old

17.7%


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 yearsteenage unemployment rate

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9
2006 15.1 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 15.9 15.9 16.3 15.3 15.9 15.9 15.4 16.2 16.8
2008 17.8 16.6 16.1 15.9 19.0 19.2 20.7 18.6 19.1 20.0 20.3 20.5
2009 20.7 22.3 22.2 22.2 23.4 24.7 24.3 25.0 25.9 27.2 26.9 26.7
2010 26.0 25.6 26.2 25.4 26.5 26.0 25.9 25.6 25.8 27.3 24.8 25.3
2011 25.5 24.1 24.3 24.5 23.9 24.8 24.8 25.1 24.5 24.2 24.1 23.3
2012 23.5 23.8 24.8 24.6 24.2 23.7 23.7 24.4 23.8 23.8 23.9 24.0
2013 23.5 25.2 23.9 23.7 24.1 23.8 23.4 22.6 21.3 22.0 20.8 20.2
2014 20.7 21.4 20.9 19.1 19.2 21.0 20.2 19.6 20.0 18.6 17.7

 

Average Weeks Unemployed

33.0%

 


Series Id:           LNS13008275
Seasonally Adjusted
Series title:        (Seas) Average Weeks Unemployed
Labor force status:  Unemployed
Type of data:        Number of weeks
Age:                 16 years and over

average weeks unemployed
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 13.1 12.6 12.7 12.4 12.6 12.3 13.4 12.9 12.2 12.7 12.4 12.5
2001 12.7 12.8 12.8 12.4 12.1 12.7 12.9 13.3 13.2 13.3 14.3 14.5
2002 14.7 15.0 15.4 16.3 16.8 16.9 16.9 16.5 17.6 17.8 17.6 18.5
2003 18.5 18.5 18.1 19.4 19.0 19.9 19.7 19.2 19.5 19.3 19.9 19.8
2004 19.9 20.1 19.8 19.6 19.8 20.5 18.8 18.8 19.4 19.5 19.7 19.4
2005 19.5 19.1 19.5 19.6 18.6 17.9 17.6 18.4 17.9 17.9 17.5 17.5
2006 16.9 17.8 17.1 16.7 17.1 16.6 17.1 17.1 17.1 16.3 16.2 16.1
2007 16.3 16.7 17.8 16.9 16.6 16.5 17.2 17.0 16.3 17.0 17.3 16.6
2008 17.5 16.9 16.5 16.9 16.6 17.1 17.0 17.7 18.6 19.9 18.9 19.9
2009 19.8 20.2 20.9 21.7 22.4 23.9 25.1 25.3 26.6 27.5 28.9 29.7
2010 30.3 29.9 31.6 33.3 33.9 34.5 33.8 33.6 33.4 34.2 33.9 34.8
2011 37.2 37.5 39.2 38.7 39.5 39.7 40.4 40.2 40.2 39.1 40.3 40.7
2012 40.1 40.0 39.4 39.3 39.6 40.0 38.8 39.1 39.4 40.3 39.2 38.0
2013 35.4 36.9 37.0 36.6 36.9 35.7 36.7 37.0 36.8 36.0 37.1 37.1
2014 35.4 37.1 35.6 35.1 34.5 33.5 32.4 31.7 31.5 32.7 33.0

Not In Labor Force

2,109,000


Series Id:                       LNU05026642
Not Seasonally Adjusted
Series title:                    (Unadj) Not in Labor Force, Searched For Work and Available
Labor force status:              Not in labor force
Type of data:                    Number in thousands
Age:                             16 years and over
Job desires/not in labor force:  Want a job now
Reasons not in labor force:      Available to work now

Not In Labor force
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 1207 1281 1219 1216 1113 1142 1172 1097 1166 1044 1100 1125 1157
2001 1295 1337 1109 1131 1157 1170 1232 1364 1335 1398 1331 1330 1266
2002 1532 1423 1358 1397 1467 1380 1507 1456 1501 1416 1401 1432 1439
2003 1598 1590 1577 1399 1428 1468 1566 1665 1544 1586 1473 1483 1531
2004 1670 1691 1643 1526 1533 1492 1557 1587 1561 1647 1517 1463 1574
2005 1804 1673 1588 1511 1428 1583 1516 1583 1438 1414 1415 1589 1545
2006 1644 1471 1468 1310 1388 1584 1522 1592 1299 1478 1366 1252 1448
2007 1577 1451 1385 1391 1406 1454 1376 1365 1268 1364 1363 1344 1395
2008 1729 1585 1352 1414 1416 1558 1573 1640 1604 1637 1947 1908 1614
2009 2130 2051 2106 2089 2210 2176 2282 2270 2219 2373 2323 2486 2226
2010 2539 2527 2255 2432 2223 2591 2622 2370 2548 2602 2531 2609 2487
2011 2800 2730 2434 2466 2206 2680 2785 2575 2511 2555 2591 2540 2573
2012 2809 2608 2352 2363 2423 2483 2529 2561 2517 2433 2505 2614 2516
2013 2443 2588 2326 2347 2164 2582 2414 2342 2302 2283 2096 2427 2360
2014 2592 2303 2168 2160 2130 2028 2178 2141 2226 2192 2109

 

Not In Labor Force Searched For Work and Available, Discouraged Reasons For Not Currently Looking

698,000

Series Id:                       LNU05026645
Not Seasonally Adjusted
Series title:                    (Unadj) Not in Labor Force, Searched For Work and Available, Discouraged Reasons For Not Currently Looking
Labor force status:              Not in labor force
Type of data:                    Number in thousands
Age:                             16 years and over
Job desires/not in labor force:  Want a job now
Reasons not in labor force:      Discouragement over job prospects  (Persons who believe no job is available.)

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 236 267 258 331 280 309 266 203 253 232 236 269 262
2001 301 287 349 349 328 294 310 337 285 331 328 348 321
2002 328 375 330 320 414 342 405 378 392 359 385 403 369
2003 449 450 474 437 482 478 470 503 388 462 457 433 457
2004 432 484 514 492 476 478 504 534 412 429 392 442 466
2005 515 485 480 393 392 476 499 384 362 392 404 451 436
2006 396 386 451 381 323 481 428 448 325 331 349 274 381
2007 442 375 381 399 368 401 367 392 276 320 349 363 369
2008 467 396 401 412 400 420 461 381 467 484 608 642 462
2009 734 731 685 740 792 793 796 758 706 808 861 929 778
2010 1065 1204 994 1197 1083 1207 1185 1110 1209 1219 1282 1318 1173
2011 993 1020 921 989 822 982 1119 977 1037 967 1096 945 989
2012 1059 1006 865 968 830 821 852 844 802 813 979 1068 909
2013 804 885 803 835 780 1027 988 866 852 815 762 917 861
2014 837 755 698 783 697 676 741 775 698 770 698

Total Unemployment Rate U-6

11.4%

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 11.0 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 17.2 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.1 16.0 15.9 16.1 15.8 16.1 16.0 16.1 16.3 15.9 15.6 15.2
2012 15.1 15.0 14.5 14.6 14.8 14.8 14.9 14.7 14.7 14.4 14.4 14.4
2013 14.4 14.3 13.8 13.9 13.8 14.2 13.9 13.6 13.6 13.7 13.1 13.1
2014 12.7 12.6 12.7 12.3 12.2 12.1 12.2 12.0 11.8 11.5 11.4

 

Employment Situation Summary

 

Transmission of material in this release is embargoed until                  USDL-14-2184
8:30 a.m. (EST) Friday, December 5, 2014

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 -- NOVEMBER 2014


Total nonfarm payroll employment increased by 321,000 in November, and the unemployment
rate was unchanged at 5.8 percent, the U.S. Bureau of Labor Statistics reported today.
Job gains were widespread, led by growth in professional and business services, retail
trade, health care, and manufacturing.

Household Survey Data

In November, the unemployment rate held at 5.8 percent, and the number of unemployed
persons was little changed at 9.1 million. Over the year, the unemployment rate and
the number of unemployed persons were down by 1.2 percentage points and 1.7 million,
respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men rose to 5.4 percent
in November. The rates for adult women (5.3 percent), teenagers (17.7 percent), whites
(4.9 percent), blacks (11.1 percent), and Hispanics (6.6 percent) showed little change
over the month. The jobless rate for Asians was 4.8 percent (not seasonally adjusted),
little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little
changed at 2.8 million in November. These individuals accounted for 30.7 percent of
the unemployed. Over the past 12 months, the number of long-term unemployed declined
by 1.2 million. (See table A-12.)

The civilian labor force participation rate held at 62.8 percent in November and has
been essentially unchanged since April. The employment-population ratio, at 59.2
percent, was unchanged in November but is up by 0.6 percentage point over the year.
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to
as involuntary part-time workers), at 6.9 million, changed little in November. 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 November, 2.1 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 698,000 discouraged workers in November,
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 November 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 321,000 in November, compared with an
average monthly gain of 224,000 over the prior 12 months. In November, job growth
was widespread, led by gains in professional and business services, retail trade,
health care, and manufacturing. (See table B-1.)

Employment in professional and business services increased by 86,000 in November,
compared with an average gain of 57,000 per month over the prior 12 months. Within
the industry, accounting and bookkeeping services added 16,000 jobs in November.
Employment continued to trend up in temporary help services (+23,000), management
and technical consulting services (+7,000), computer systems design and related
services (+7,000), and architectural and engineering services (+5,000).

Employment in retail trade rose by 50,000 in November, compared with an average
gain of 22,000 per month over the prior 12 months. In November, job gains occurred
in motor vehicle and parts dealers (+11,000); clothing and accessories stores
(+11,000); sporting goods, hobby, book, and music stores (+9,000); and nonstore
retailers (+6,000).

Health care added 29,000 jobs over the month. Employment continued to trend up in
offices of physicians (+7,000), home health care services (+5,000), outpatient care
centers (+4,000), and hospitals (+4,000). Over the past 12 months, employment in
health care has increased by 261,000.

In November, manufacturing added 28,000 jobs. Durable goods manufacturers accounted
for 17,000 of the increase, with small gains in most of the component industries.
Employment in nondurable goods increased by 11,000, with plastics and rubber products
(+7,000) accounting for most of the gain. Over the year, manufacturing has added
171,000 jobs, largely in durable goods.

Financial activities added 20,000 jobs in November, with half of the gain in insurance
carriers and related activities. Over the past year, insurance has contributed 70,000
jobs to the overall employment gain of 114,000 in financial activities.

Transportation and warehousing employment increased by 17,000 in November, with a
gain in couriers and messengers (+5,000). Over the past 12 months, transportation
and warehousing has added 143,000 jobs.

Employment in food services and drinking places continued to trend up in November
(+27,000) and has increased by 321,000 over the year.

Construction employment also continued to trend up in November (+20,000). Employment in
specialty trade contractors rose by 21,000, mostly in the residential component. Over
the past 12 months, construction has added 213,000 jobs, with just over half the gain
among specialty trade contractors.

In November, the average workweek for all employees on private nonfarm payrolls rose
by 0.1 hour to 34.6 hours. The manufacturing workweek rose by 0.2 hour to 41.1 hours,
and factory overtime edged up by 0.1 hour to 3.5 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.)

Average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents
to $24.66 in November. Over the year, average hourly earnings have risen by 2.1 percent.
In November, average hourly earnings of private-sector production and nonsupervisory
employees increased by 4 cents to $20.74. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised from +256,000
to +271,000, and the change for October was revised from +214,000 to +243,000. With
these revisions, employment gains in September and October combined were 44,000 more
than previously reported.

_____________
The Employment Situation for December is scheduled to be released on Friday,
January 9, 2015, at 8:30 a.m. (EST).



   __________________________________________________________________________________
  |                                                                                  |
  |               Upcoming Changes to the Employment Situation News Release          |
  |                                                                                  |
  |Effective with the release of January 2015 data on February 6, 2015, the U.S.     |
  |Bureau of Labor Statistics will introduce several changes to The Employment       |
  |Situation news release tables.                                                    |
  |                                                                                  |
  |Household survey table A-2 will introduce seasonally adjusted series on the labor |
  |force characteristics of Asians. These series will appear in addition to the not  |
  |seasonally adjusted data for Asians currently displayed in the table. Also, in    |
  |summary table A, the seasonally adjusted unemployment rate for Asians will replace|
  |the not seasonally adjusted series that is currently displayed for the group.     |
  |                                                                                  |
  |Household survey table A-3 will introduce seasonally adjusted series on the labor |
  |force characteristics of Hispanic men age 20 and over, Hispanic women age 20 and  |
  |over, and Hispanic teenagers age 16 to 19. The not seasonally adjusted series for |
  |these groups will continue to be displayed in the table.                          |
  |                                                                                  |
  |The establishment survey will introduce two data series: (1) total nonfarm        |
  |employment, 3-month average change and (2) total private employment, 3-month      |
  |average change. These new series will be added to establishment survey summary    |
  |table B. Additionally, in the employment section of summary table B, the list     |
  |of industries will be expanded to include utilities (currently published in       |
  |table B-1). Also, hours and earnings of production and nonsupervisory employees   |
  |will be removed from summary table B, although these series will continue to be   |
  |published in establishment survey tables B-7 and B-8. A sample of the new summary |
  |table B is available on the BLS website at www.bls.gov/ces/cesnewsumb.pdf.        |
  |__________________________________________________________________________________|




   __________________________________________________________________________________
  |                                                                                  |
  |            Revision of Seasonally Adjusted Household Survey Data                 |
  |                                                                                  |
  |In accordance with usual practice, The Employment Situation news release for      |
  |December 2014, scheduled for January 9, 2015, will incorporate annual revisions in|
  |seasonally adjusted household survey data. Seasonally adjusted data for the most  |
  |recent 5 years are subject to revision.                                           |
  |__________________________________________________________________________________|



 

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

 

Employment Situation Summary Table A. Household data, seasonally adjusted

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

CategoryNov.
2013Sept.
2014Oct.
2014Nov.
2014Change from:
Oct.
2014-
Nov.
2014

Employment status

 

Civilian noninstitutional population

246,567248,446248,657248,844187

Civilian labor force

155,284155,862156,278156,397119

Participation rate

63.062.762.862.80.0

Employed

144,443146,600147,283147,2874

Employment-population ratio

58.659.059.259.20.0

Unemployed

10,8419,2628,9959,110115

Unemployment rate

7.05.95.85.80.0

Not in labor force

91,28392,58492,37892,44769

Unemployment rates

 

Total, 16 years and over

7.05.95.85.80.0

Adult men (20 years and over)

6.75.35.15.40.3

Adult women (20 years and over)

6.25.55.45.3-0.1

Teenagers (16 to 19 years)

20.820.018.617.7-0.9

White

6.15.14.84.90.1

Black or African American

12.411.010.911.10.2

Asian (not seasonally adjusted)

5.34.35.04.8

Hispanic or Latino ethnicity

8.76.96.86.6-0.2

Total, 25 years and over

5.84.74.74.70.0

Less than a high school diploma

10.68.47.98.50.6

High school graduates, no college

7.35.35.75.6-0.1

Some college or associate degree

6.45.44.84.90.1

Bachelor’s degree and higher

3.42.93.13.20.1

Reason for unemployment

 

Job losers and persons who completed temporary jobs

5,7314,5304,3584,483125

Job leavers

89082979483844

Reentrants

3,0652,8092,8712,773-98

New entrants

1,1691,1051,0631,0641

Duration of unemployment

 

Less than 5 weeks

2,4392,3832,4732,52956

5 to 14 weeks

2,5852,5082,3122,39078

15 to 26 weeks

1,7421,4161,4171,43114

27 weeks and over

4,0442,9542,9162,815-101

Employed persons at work part time

 

Part time for economic reasons

7,7237,1037,0276,850-177

Slack work or business conditions

4,8694,1624,2144,064-150

Could only find part-time work

2,4992,5622,4472,4536

Part time for noneconomic reasons

18,85819,56119,76920,004235

Persons not in the labor force (not seasonally adjusted)

 

Marginally attached to the labor force

2,0962,2262,1922,109

Discouraged workers

762698770698

– 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.

 

 

 

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Nov.
2013
Sept.
2014
Oct.
2014(p)
Nov.
2014(p)

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

Total nonfarm

274 271 243 321

Total private

272 249 236 314

Goods-producing

68 36 28 48

Mining and logging

1 6 1 0

Construction

32 18 7 20

Manufacturing

35 12 20 28

Durable goods(1)

19 11 18 17

Motor vehicles and parts

4.7 1.7 2.0 3.0

Nondurable goods

16 1 2 11

Private service-providing(1)

204 213 208 266

Wholesale trade

16.8 2.9 6.1 2.5

Retail trade

22.3 39.9 34.2 50.2

Transportation and warehousing

32.4 7.0 15.3 16.7

Information

1 3 -5 4

Financial activities

-4 14 6 20

Professional and business services(1)

73 66 52 86

Temporary help services

36.6 23.2 19.5 22.7

Education and health services(1)

25 35 37 38

Health care and social assistance

24.4 24.8 31.5 37.2

Leisure and hospitality

37 47 55 32

Other services

-1 0 7 15

Government

2 22 7 7

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

Total nonfarm women employees

49.5 49.4 49.4 49.3

Total private women employees

48.0 47.9 47.9 47.9

Total private production and nonsupervisory employees

82.6 82.6 82.6 82.6

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.5 34.5 34.5 34.6

Average hourly earnings

$24.15 $24.54 $24.57 $24.66

Average weekly earnings

$833.18 $846.63 $847.67 $853.24

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

99.6 101.4 101.6 102.2

Over-the-month percent change

0.5 0.2 0.2 0.6

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

114.8 118.7 119.1 120.2

Over-the-month percent change

0.8 0.2 0.3 0.9

HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES

Total private

Average weekly hours

33.7 33.7 33.8 33.8

Average hourly earnings

$20.30 $20.67 $20.70 $20.74

Average weekly earnings

$684.11 $696.58 $699.66 $701.01

Index of aggregate weekly hours (2002=100)(3)

107.1 109.1 109.6 109.8

Over-the-month percent change

0.5 -0.1 0.5 0.2

Index of aggregate weekly payrolls (2002=100)(4)

145.3 150.6 151.6 152.2

Over-the-month percent change

0.8 -0.1 0.7 0.4

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

Total private (264 industries)

66.9 63.4 63.8 69.7

Manufacturing (81 industries)

65.4 59.3 64.2 63.0

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

 

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, TUESDAY, NOVEMBER 25, 2014
BEA 14-59

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Kate Shoemaker: (202) 606-5564 (Profits) cpniwd@bea.gov
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product: Third Quarter 2014 (Second Estimate)
Corporate Profits: Third Quarter 2014 (Preliminary Estimate)
      Real gross domestic product -- the value of the production of goods and services in the United
States, adjusted for price changes -- increased at an annual rate of 3.9 percent in the third quarter of
2014, according to the "second" estimate released by the Bureau of Economic Analysis.  In the second
quarter, real GDP increased 4.6 percent.

      The GDP estimate released today is based on more complete source data than were available for
the "advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 3.5
percent.  With the second estimate for the third quarter, private inventory investment decreased less than
previously estimated, and both personal consumption expenditures (PCE) and nonresidential fixed
investment increased more.  In contrast, exports increased less than previously estimated (see
"Revisions" on page 3).

      The increase in real GDP in the third quarter reflected positive contributions from PCE,
nonresidential fixed investment, federal government spending, exports, residential fixed investment, and
state and local government spending that were partly offset by a negative contribution from private
inventory investment.  Imports, which are a subtraction in the calculation of GDP, decreased.

      The deceleration in the percent change in real GDP reflected a downturn in private inventory
investment and decelerations in exports, in nonresidential fixed investment, in state and local
government spending, in PCE, and in residential fixed investment that were partly offset by a downturn
in imports and an upturn in federal government spending.

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.4 percent in the third quarter, 0.1 percentage point more than in the advance estimate; this
index increased 2.0 percent in the second quarter.  Excluding food and energy prices, the price index for
gross domestic purchases increased 1.6 percent in the third quarter, compared with an increase of 1.7
percent in the second.


_____
FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Quarter-to-quarter dollar changes are differences between these published estimates.  Percent
changes are calculated from unrounded data and are annualized.  "Real" estimates are in chained (2009)
dollars.  Price indexes are chain-type measures.

This news release is available on BEA's Web site along with the Technical Note and Highlights related
to this release.  For information on revisions, see "The Revisions to GDP, GDI, and Their
Major Components."
_____

      Real personal consumption expenditures increased 2.2 percent in the third quarter, compared
with an increase of 2.5 percent in the second.  Durable goods increased 8.7 percent, compared with an
increase of 14.1 percent.  Nondurable goods increased 2.2 percent, the same increase as in the second
quarter.  Services increased 1.2 percent, compared with an increase of 0.9 percent.

      Real nonresidential fixed investment increased 7.1 percent in the third quarter, compared with an
increase of 9.7 percent in the second.  Investment in nonresidential structures increased 1.1 percent,
compared with an increase of 12.6 percent.  Investment in equipment increased 10.7 percent, compared
with an increase of 11.2 percent.  Investment in intellectual property products increased 6.4 percent,
compared with an increase of 5.5 percent.  Real residential fixed investment increased 2.7 percent,
compared with an increase of 8.8 percent.

      Real exports of goods and services increased 4.9 percent in the third quarter, compared with an
increase of 11.1 percent in the second.  Real imports of goods and services decreased 0.7 percent, in
contrast to an increase of 11.3 percent.

      Real federal government consumption expenditures and gross investment increased 9.9 percent
in the third quarter, in contrast to a decrease of 0.9 percent in the second.  National defense increased
16.0 percent, compared with an increase of 0.9 percent.  Nondefense increased 0.4 percent, in contrast to
a decrease of 3.8 percent.  Real state and local government consumption expenditures and gross
investment increased 0.8 percent, compared with an increase of 3.4 percent.

      The change in real private inventories subtracted 0.12 percentage point from the third-quarter
change in real GDP after adding 1.42 percentage points to the second-quarter change.  Private
businesses increased inventories $79.1 billion in the third quarter, following increases of $84.8 billion in
the second quarter and $35.2 billion in the first.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 4.1
percent in the third quarter, compared with an increase of 3.2 percent in the second.


Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 3.0 percent in the third quarter, compared with an increase of 4.8 percent in the
second.


Gross national product

      Real gross national product -- the value of the goods and services produced by the labor and
property supplied by U.S. residents -- increased 3.8 percent in the third quarter, compared with an
increase of 4.6 percent in the second.  GNP includes, and GDP excludes, net receipts of income from the
rest of the world, which decreased $1.6 billion in the third quarter, in contrast to an increase of $1.4
billion in the second; in the third quarter, receipts decreased $1.1 billion, and payments increased $0.5
billion.


Current-dollar GDP

      Current-dollar GDP -- the market value of the production of goods and services in the United
States -- increased 5.3 percent, or $227.0 billion, in the third quarter to a level of $17,555.2 billion.  In
the second quarter, current-dollar GDP increased 6.8 percent, or $284.2 billion.


Gross domestic income

      Real gross domestic income (GDI), which measures the value of the production of goods and
services in the United States as the costs incurred and the incomes earned on that production, increased
4.5 percent in the third quarter, compared with an increase of 4.0 percent (revised) in the second.  For a
given quarter, the estimates of GDP and GDI may differ for a variety of reasons, including the
incorporation of largely independent source data.  However, over longer time spans, the estimates of
GDP and GDI tend to follow similar patterns of change.


Revisions

      The upward revision to the percent change in real GDP primarily reflected upward revisions to
private inventory investment, to personal consumption expenditures, and to nonresidential fixed
investment that were partly offset by a downward revision to exports and an upward revision to imports.


                                         Advance Estimate  Second Estimate

                                     (Percent change from preceding quarter)
Real GDP...............................         3.5            3.9
Current-dollar GDP.....................         4.9            5.3
Real GDI...............................         --             4.5
Gross domestic purchases price index...         1.3            1.4
Corporate Profits


Profits from current production

      Profits from current production (corporate profits with inventory valuation adjustment (IVA) and
capital consumption adjustment (CCAdj)) increased $43.8 billion in the third quarter, compared with an
increase of $164.1 billion in the second.

      Profits of domestic financial corporations increased $20.3 billion in the third quarter, compared
with an increase of $33.3 billion in the second.  Profits of domestic nonfinancial corporations increased
$22.5 billion, compared with an increase of $134.3 billion.  The rest-of-the-world component of profits
increased $1.0 billion, in contrast to a decrease of $3.6 billion.  This measure is calculated as the
difference between receipts from the rest of the world and payments to the rest of the world.  In the third
quarter, receipts were unchanged, and payments decreased $1.0 billion.

      Taxes on corporate income decreased $4.8 billion in the third quarter, in contrast to an increase
of $45.7 billion in the second.  Profits after tax with IVA and CCAdj increased $48.6 billion, compared
with an increase of $118.4 billion.

      Dividends decreased $3.9 billion in the third quarter, compared with a decrease of $0.5 billion in
the second.  Undistributed profits increased $52.5 billion, compared with an increase of $118.8 billion.
Net cash flow with IVA -- the internal funds available to corporations for investment -- increased $25.1
billion, compared with an increase of $133.4 billion.

	The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of
fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in
the national income and product accounts.  The IVA increased $16.8 billion in the third quarter,
compared with an increase of $11.9 billion in the second.  The CCAdj increased $1.2 billion, in contrast
to a decrease of $0.8 billion.


Gross value added of nonfinancial domestic corporate business

      In the third quarter, real gross value added of nonfinancial corporations increased, and profits per
unit of real gross value added increased.  The increase in unit profits reflected an increase in unit prices
that was partly offset by an increase in unit nonlabor costs; unit labor costs were unchanged.


                                     *          *          *

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov.  By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.


                                     *          *          *


                     Next release -- December 23, 2014 at 8:30 A.M. EST for:
                  Gross Domestic Product:  Third Quarter 2014 (Third Estimate)
                    Corporate Profits:  Third Quarter 2014 (Revised Estimate)


                                     *          *          *


Release dates in 2015


Gross Domestic Product

                 2014: IV and 2014 annual     2015: I          2015: II          2015: III

Advance....           January 30              April 29         July 30           October 29
Second.....           February 27             May 29           August 27         November 24
Third......           March 27                June 24          September 25      December 22


Corporate Profits

Preliminary...        ..                      May 29           August 27         November 24
Revised.......        March 27                June 24          September 25      December 22

http://bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

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Reviving The United States, European and Japanese Economies With Saudi Oil Production and Plummeting Oil Prices — How Low and For How Long Will This Continue? — Punishing Iran and Russian Economies Dependent Upon High Oil Prices For Exports — Videos

Posted on December 2, 2014. Filed under: American History, Blogroll, College, Communications, Crisis, Data, Documentary, Economics, Education, Employment, Energy, Enivornment, Family, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Friends, government, government spending, history, Law, liberty, Life, Links, Literacy, media, Natural Gas, Natural Gas, Oil, Oil, People, Philosophy, Photos, Politics, Resources, Security, Talk Radio, Tax Policy, Unemployment, Video, Welfare, Wisdom | Tags: , , , , , , , , , , , , , , |

oil production

Why are oil prices falling – explained in 60 seconds?

Plunging Prices for Oil 

How will plunging oil prices affect the economy?

PRIME TIME NEWS 22:00 OPEC refuses to cut production, oil prices slump

OPEC Curtain Raiser

Plunging Oil Prices Have Unpredictable Impact on Politics, Economics

The Real Reason for Falling Oil and Gas Prices

Will OPEC Spark Oil Price War With Production Cuts?

Oil Prices Tumble Again: How Long Will This Go On?

Series Preview: The Global Drop in Oil Prices

Stratfor Vice President of Global Analysis Reva Bhalla and Global Energy Analyst Matt Bey discuss highlights of an upcoming series on the geopolitical impact of oil below $90 a barrel.
For more analysis, visit: http://www.Stratfor.com

“USA-SAUDI ARABIA” WILL PAY FOR THEIR “OIL PRICE MANIPULATIONS”!

Impact of Low Oil Prices: Petro Power or Petro Poverty?

Top 10 Oil Producing Countries in the World 2013-2014 –

At present transportation has become the major sector in the world which has facilitated all the people living around the different countries.So there is a need of billions barrels of fuel. There is no country in the world which has not the need of fuel, so there are several countries which are producing the fuels at their own resources while some countries are importing fuel from the other producers just to survive their transportation as well as the industrial sector.

So its importance can not be denied because its precious resources are also known as black gold.The nations having largest reserves in their geographical boundaries are considered the luckiest and richest countries. Following is a list of top ten countries which are considered the largest oil producers in the world.

List of Top 10 Largest Oil Producing Countries in the world 2013

1. Saudi Arabia

Top 10 oil producing countries, the biggest oil producers, oil production by country

Saudi Arabia is the world’s largest oil-producing and exporting country producing more than 11.75 million barrels per day which is more than 13% of world’s entire output. It has very good reputation in the Muslim countries around the world having the number of Islamic historical places.

2. United States

Top 10 oil producing countries, the biggest oil producers, oil production by country

USA is the 2nd largest oil-producing nation it is not only the second biggest producer.Although it has it has a huge amount of production and more than 21 billion barrels proven reserves yet it is an oil importing country because it has the highest fuel consumption rate than other countries .It is producing more than 10.59 million barrels per day which is about 12% of the world’s over all production.

3. Russia

Russia has the 11.4% share in the world’s entire production.Its reserves are accounted more than 60 billion barrels making it the third biggest oil-producing country around the globe.

Russian-Oil-Reserves

4. China

Top 10 oil producing countries, the biggest oil producers, oil production by country

China is officially recognized as People Republic of China which is the largest country in the world by its population. Most of its cities are considered the largest cities of the world by population.It is the fourth largest oil-producing country in the world with daily production of 4.19 billion barrels which is 4.7% of world’s total production.China is World’s Largest Rice Producing country click here to see its annual rice output.

5. Iran

Top 10 oil producing countries, the biggest oil producers, oil production by country

Iran is the fifth nation in the ranking list of top 10 largest oil-producing countries in the world. It has 4.6 % share in the world’s overall production which more than 4.13 million barrels per day production.

6. Canada

Top 10 oil producing countries, the biggest oil producers, oil production by country

Canada has a fantastic and stable economy in the world. It one of the biggest oil-producing nations around the globe having more than 179 billion barrels proven reserves. Its daily production is 3.92 million barrels which is 4.4% of world’s total production.

7. United Arab Emirates

Top 10 oil producing countries, the biggest oil producers, oil production by country

UAE is producing 3.23 million barrels oil per day which is 3.6% of the world production. Its further oil reserves are accounted more than 98 billion barrels.UAE is going to increase it’s per day production up to 5 million barrels in the next coming years. And according to a recent estimate United States of Arab Emirates has further reserves enough for the next 93 years.UAE is the 7th richest country in the world by per capita GDP.

8. Mexico

Top 10 oil producing countries, the biggest oil producers, oil production by country

Mexico is officially recognized as United Mexican States covering the total area of 1,972,550 square km. it has the 8th rank in the list of top ten largest oil producers in the world.  It is producing 2.95 million barrels per day which is the 3.3 percent of the global output.

9. Brazil

Top 10 oil producing countries, the biggest oil producers, oil production by country

Brazil is the 9th largest oil-producing nation in the world, its production share in the global output is 3.15%. It is producing 2.8 million barrels per day. Brazil has already 12.86 billion barrels proven oil reserves and according to an estimate, which is expected to increase after the discovery of Jupiter Oil Field.

10. Kuwait

Top 10 oil producing countries, the biggest oil producers, oil production by country

Kuwait is the 9th richest country in the world having the strongest currency rate in the world. It has more than 104 billion barrels in its proven oil reserves while its share in the world’s entire oil output is accounted for 3.1% making it the 10th largest oil-producing country in the world. It is producing about 2.75 million barrels per day.

Question of the day

Q : what country produces the most oil in the world?

Ans : At present Saudi Arabia the biggest oil producer in the world having 11.75 billion barrels daily production which is 13% of world’s total output.

– See more at: http://www.thecountriesof.com/top-10-oil-producing-countries-in-the-world-2013-2014/#sthash.oTfzW92z.dpuf

As oil prices plunge, wide-ranging effects for consumers and the global economy

By Steven Mufson

Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season.

The result could be one of the biggest transfers of wealth in history, potentially reshaping everything from talks over Iran’s nuclear program to the Federal Reserve’s policies to further rejuvenate the U.S. economy.

The price of oil has declined about 40 percent since its peak in mid-June and plunged last week after the Organization of the Petroleum Exporting Countries voted to continue to pump at the same rate. That continued a trend driven by a weak global economy and expanding U.S. domestic energy supplies.

The question facing investors, companies and policymakers is how low oil prices will go — and for how long. Every day, American motorists are saving $630 million on gasoline compared with what they paid at June prices, and they would get a $230 billion windfall if prices were to stay this low for a year. The vast majority of that will flow into the economy, with lower-income households living on tight budgets likely to use money not otherwise spent on gas to buy groceries, clothing and other staples.

On Monday, the average U.S. price for a gallon of regular-grade gasoline was $2.77, according to AAA, which projects that prices could drop by an additional 10 to 20 cents.
(The Washington Post)
Big American companies are better off, too. Every penny the price of jet fuel declines means savings of $40 million for Delta Air Lines, the company’s chief executive said in a recent CBS interview.

(Related stories: A simple guide to the sudden collapse in oil prices
How plunging oil prices could affect your pocketbook

Could gas prices go as low as $2 a gallon?)

“Despite the impressive recent gains in natural gas and crude oil production, the U.S. still is a net importer of energy,” William C. Dudley, president of the Federal Reserve Bank of New York, said Monday at Bernard Baruch College. “As a result, falling energy prices are beneficial for our economy and should be a strong spur to consumer spending.”
An employee changes figures on a board showing currency exchange rates in Moscow on Monday. (Sergei Karpukhin/Reuters)
Although falling oil prices lower inflation, the Federal Reserve tends to view that as a fleeting effect that would not alter its underlying judgments about policy. Nonetheless, Dudley said, “the slump in oil prices may also help to persuade” the European and Japanese central banks to implement further monetary easing as prices remain subdued.

The consequences of the decline in oil prices are also evident in politics and pocketbooks.

At current prices, the annual revenue of OPEC members would shrink by $590 billion, money that will instead stay within the borders of the world’s biggest oil importers, led by the United States, China and Japan.

The size of the global economy will “easily be between 0.5 percent and 1.0 percent higher as a result of the decline in oil prices,” wrote Andrew Kenningham, senior global economist for London-based Capital Economics.

The 40 percent drop in the price of the international benchmark Brent-grade crude oil over the past five months will reduce annual revenue to oil producers worldwide by a whopping $1.5 trillion.

“Those losses are staggering,” Edward Yardeni, president of Yardeni Research, wrote to investors Monday.

The losers include Russia, where the value of the ruble has been crumbling, inflation has crept up to more than an 8 percent rate and oil prices have done more to hurt the economy than Western sanctions.

In Iran, whose economy and government budget rely heavily on oil sales, low prices could intensify the effect of sanctions that have curbed the country’s oil exports in an effort to pressure the regime into reaching a diplomatic accord on its nuclear program.
In Venezuela, dwindling oil revenue has exacerbated an economic crisis that is also tied to fuel subsidies, price controls and generous social programs.

In the United States, there are losers, too — mostly in the oil patch. The oil services giant Halliburton has lost 44 percent of its value since July 23. Heavily indebted Continental Resources, a huge shale oil producer in North Dakota’s Bakken region, has lost half its value since Aug. 29. Even BP, a big, integrated firm, has lost a quarter of its value in just the past few months.

“It happened so fast, it’s been a shock to the system,” said Scott D. Sheffield, chief executive of Pioneer Natural Resources. Sheffield said that if oil prices had stayed between $90 and $100 a barrel, Pioneer would have added 10 new rigs to its fleet of 40, nearly all drilling shale oil wells. Now he is going to wait and see before announcing capital spending plans in February.

The prospect of low oil prices over an extended period grew much stronger last week after OPEC opted to maintain output instead of paring back to prop up prices.

Saudi Arabia, OPEC’s swing producer, with about 9.7 million barrels of production a day, has usually adjusted its output to moderate lurches in oil prices. But the kingdom has grown worried that production will continue to grow outside OPEC, reducing the cartel to a smaller and smaller share of the global market. So Saudi Arabia has chosen to fight for market share by letting prices slide.

That could jump-start global oil demand, currently about 94 million barrels a day. But it could also slow down or halt the growth in global oil supplies.
The biggest target of this strategy: U.S. shale oil, which has grown from a negligible amount six years ago to 4 million barrels a day, nearly half of U.S. production and more than any OPEC member except Saudi Arabia. Other high-cost oil projects, such as Canada’s oil sands, could also be curtailed or postponed.

But oil prices have historically swung from one extreme to another; it takes years for price signals to change exploration plans and production levels. U.S. exploration firms might be able to withstand lower oil prices than OPEC members that need oil revenue to balance their budgets and keep their citizens content. A Citibank analysis says that current prices will not eliminate growth in U.S. shale oil output, only trim that growth by 30 percent.

Within OPEC, there was discord. “It is not good for OPEC,” Iranian oil minister Bijan Namdar Zanganeh said in an interview with the newsletter Argus Global Markets. “Some of our colleagues in OPEC believe they should wait and see what the market reaction is, especially in U.S. shale investment.” He added that “it’s a very risky issue” and could require “years, not months.”

There are risks in the United States, too. Kathy Jones, fixed-income strategist at Charles Schwab, said that while lower oil prices will boost consumer spending, which makes up 68 percent of the U.S. economy, it could also hurt investment, which runs high in the petroleum business. She also noted that oil and gas companies account for 15 percent of the Barclays U.S. high-yield index, double what it was a few years ago.
“High yield means more highly leveraged, and we don’t know what a 30 or 40 percent drop in oil prices will mean,” Jones said. “It’s going to show up in places, I’m sure. It’s just a question of where.”

The Fed’s Dudley was less concerned. “Even after the large gains in recent years, oil and gas investment remains a small fraction of GDP,” he said.

On Monday, traders and investors struggled to grasp OPEC’s stance; prices slid then rebounded sharply to $69 a barrel.

Although analysts said that global production is running about 2 million barrels a day over consumption, barely 2 percent of world demand, slight economic changes or a renewal of paralyzing civil strife in Libya could shrink that extra margin.

On the other hand, the sudden glut — while small — could grow even larger if Libya restores more of its former production, Iraq continues to expand output from its low-cost reservoirs and Iran strikes a deal over its nuclear program that would lift sanctions and permit a jump in exports.

Iran’s oil minister told Argus Global Markets that Iran could increase output by 1 million barrels a day within two months.

That has left people guessing. Richard Anderson, chief executive of Delta Air Lines, said on “CBS This Morning” on Nov. 25 that the airline was planning on jet fuel costing $2.80 a gallon in 2015, though he acknowledged that “all this is a bit of a thumb in the wind.”

Robert McNally, president of the Rapidan Group consulting firm, said OPEC seemed to be letting non-OPEC countries resolve the market surplus and surprised the industry by not scheduling another meeting until June 5. “This was about as bearish a signal as OPEC could have sent to the market,” he said.

http://www.washingtonpost.com/business/economy/2014/12/01/904984b2-7971-11e4-9a27-6fdbc612bff8_story.html

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