unemployment

Jobs Report Show 163,000 Jobs, Unemployment Rate of 8.3%

The July 2012 BLS unemployment report shows total nonfarm payroll jobs gained were 163,000. Don't get too excited, while above expectations this is still a mediocre report. June's payrolls were revised down, from 80,000 to 64,000. May's payrolls were revised up, from 77,000 to 87,000. The below graph shows the monthly change in nonfarm payrolls employment.

 

Yet Another Abysmal Jobs Report Shows Only 80,000 Jobs for June 2012

The June 2012 BLS unemployment report is another abysmal jobs report. Total nonfarm payroll jobs gained were only 80,000. May's payrolls were revised up, from 69,000 to 77,000. April job gains were revised down, again, from 77,000 to only 68,000. The below graph shows the monthly change in nonfarm payrolls employment.

 

More Depressing Unemployment Statistics for May 2012

The May employment report was dismal. This overview shows the situation is even worse than dismal, it is depressing in more ways than one. Officially there are 12.72 million people unemployed and the unemployment rate is 8.2%. We calculate below an alternative unemployment rate of 16.8%, which shows 27.11 million people need a full-time, real job.

BLS Employment Report is Abysmal - Only 69,000 Jobs!

The May 2012 BLS unemployment report is abysmal. Total nonfarm payroll jobs gained were only 69,000. April job gains were revised down, from 115,000 to only 77,000. March payrolls were also revised down, from 154,000 to 143,000. The below graph shows the monthly change in nonfarm payrolls employment.

 

BLS payrolls 05/12

 

May shows only 82,000 private sector jobs gained while government payrolls shrank another -13,000. In addition, 9,200 of those jobs were temporary.

Unemployment Claims Stagnant - 370,000 for the Week of May 19th, 2012

Initial weekly unemployment claims for the week ending on May 19th, 2012 were 370,000. The DOL reports this as a decrease of 2,000 from last week, yet last week's initial claims were revised up, from 370,000 to 372,000. In essence, initial claims for unemployment insurance are stagnating, not declining as needed, as seen in the below chart.

 

The Meager April 2012 115,000 Jobs Report Shows Lowest Labor Participation Rate Since 1981

The April 2012 monthly unemployment figures show the official unemployment rate dropped a 10th of a percentage point to 8.1% due to people dropping out of the labor force. Total nonfarm payroll jobs gained were 115,000. Total private jobs came in at 130,000, with 21,100 of those jobs being temporary. Government jobs dropped, -15,000. While manufacturing gained 16,000 jobs, transportation and warehousing dropped -16,600 jobs. It takes about 100,000 jobs each month just to keep up with population growth so this is a terrible report for the American worker.

 

unemployment rate

 

Why Did The March Unemployment Rate Go Down When Only 120,000 Payroll Jobs Were Added?

The press and pundits shout the unemployment rate dropped to 8.2%, the lowest since January 2009, over three years ago. Yet March only added 120,000 jobs and those reported as employed dropped by -31,000. So, how could the official unemployment rate drop when the jobs added barely keeps up with population growth and the increase in those employed actually dropped?

Unemployment 8.2%, 120,000 Jobs for March 2012

The March 2012 monthly unemployment figures show the official unemployment rate dropped a 10th of a percentage point to 8.2%, and the total nonfarm payroll jobs gained was 120,000. These statistics are not the blow out most were hoping for. Total private jobs came in at 121,000. Government jobs dropped, -1,000. While manufacturing gained 37,000 jobs, retail trade, a category that includes retail sales clerks, dropped -33,800 jobs.

 

unemployment rate

 

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