LPR

April Unemployment Rate Lowest Since May 2007

The April unemployment report on the surface looks really good because the unemployment rate is the lowest it has been since May 2007.  Yet the cause of the low rate for the month is a mixed bag.  Labor participation rates also remain low.  On the other hand, an alternative measure of the unemployment rate, U-6, is the lowest it has been since November 2007.

The March Unemployment Report Was Pretty Good

The March unemployment report on the surface looked bad due too less than one hundred thousand jobs gained.  But that is just one number and also not part of the report which calculates the unemployment rate and other statistics.  The unemployment rate actually dropped -0.2 percentage points to 4.5%.  That in itself is a decade low.  The better news is the monthly drop was due to less people being unemployed and almost half a million more were working.

Record Low Labor Participation Rate Not Due to Retirement or School

The October unemployment report showed a record low labor participation rate of 62.8%, graphed below.  Many dismiss these record low labor participation rates by claiming more people are retiring and young people are just in school.  Is this true or is something more sinister going on?

October Unemployment Report Shows Almost a Million Drop Out of Labor Force

There were 932,000 more people considered not in the labor force for October 2013 according to the BLS employment report.  The labor participation rate plummeted to a new low of 62.8%.   Happy belated Halloween America for the these are some crazy unemployment statistics that are one big scary surprise.  While the month to month household survey figures vary greatly as a general rule, there is no government shutdown effect to explain away the monthly cliff dive of people no longer counted as part of the labor force this month.

Unemployment is a Flat Line No Change for September 2013

America's employment is the same as last month and we might look at the BLS report telling us, Doctor, the patient is still dead.  Someone bring the crash cart for employment in America needs to be resuscitated.  The BLS employment report shows the official unemployment rate declined a percentage point to 7.2%.

Unemployment Rate Drops On Over Half a Million More Not In Labor Force

The BLS employment report shows the official unemployment rate declined a percentage point to 7.3% as over half a million people dropped out of the labor force.  The labor participation rate just hit a low not seen since August 1978.  Less people were employed as well.  People dropping out of the labor force is no way to lower an unemployment rate, yet this is what is going on, five years eight months after the start of the Great Recession.

About the 7.4% Unemployment Rate for July 2013

The BLS employment report shows the official unemployment rate declined two percentage points to 7.4%, mainly on a lower labor participation rate and more people being considered not part of the labor force.   This is the lowest official unemployment rate since December 2008 and at least a percentage point of the unemployment rate drop is due to the decline in labor force participation.  More people were employed as well.  People stuck in part-time jobs maintained their increases from last month.

CPS Employment Statistics Static for June 2013

The BLS employment report shows the official unemployment rate remained a static 7.6% and the current population survey unemployment figures are an unmoving pool of little changed this month.   More people were employed, yet the number of people stuck in part-time jobs ballooned from last month and the number of unemployed also increased slightly.

Unemployment Rate a Static 7.6% for May 2013

The BLS employment report shows the official unemployment rate ticked up 0.1 percentage point to 7.6% and the current population survey unemployment figures are a static pool of going nowhere fast statistics.   More people were employed, yet the number of people stuck in part-time jobs barely budged from last month and the number of unemployed also increased.  The labor participation rate increased 0.1 percentage points from the May 1979 record low.   U-6, a broader measure of unemployment, ticked down -0.1 percentage point to 13.8%.  Overall the CPS statistics look like an oscillating wave of stuck in neutral.

Unemployment Not Impressive for April 2013

The BLS employment report shows the official unemployment rate ticked down 0.1 percentage point to 7.5%, and the current population survey statistics are a mixed bag of strange.   More people were employed, yet the number of people stuck in part-time jobs continues to increase.  The labor participation rate stayed at the same May 1979 record low.   U-6, a broader measure of unemployment, ticked up 0.1 percentage point to 13.9%.

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