The March 2011 monthly unemployment figures show the official unemployment rate decreased to 8.8% and the total jobs gained were 216,000, with 28,800 of those jobs being private temporary. Total private jobs came in at +230,000 with government jobs dropping -14,000.
The February 2011 monthly unemployment figures are out. The official unemployment rate decreased to 8.9% and the total jobs gained were 192,000, with 15,500 of those jobs being private temporary. Total private jobs came in at +222,000 with government jobs dropping -30,000.
Remember in school when there was a problem so tough even the Professor couldn't figure it out? Remember how teachers and even textbooks would say this is an exercise left for the reader instead of admitting the problem wasn't easily solved? Such is our employment situation report.
The January 2011 monthly unemployment figures are out. The official unemployment rate decreased to 9.0% and the total jobs gained were 36,000. Total private jobs came in at +50,000, in stark contrast to the 187,000 ADP reported for January.
The December 2010 monthly unemployment figures are out. The official unemployment rate decreased to 9.4% and the total jobs gained were 103,000, with 15,900 of those jobs being temporary.
The November 2010 monthly unemployment figures are out. The official unemployment rate increased to 9.8% and the total jobs gained were 39,000, with 39,500 of those jobs being temporary. Yes, you read that right, there were more temporary jobs created than the finally tally of jobs.
The ADP report for November 2010 it out and ADP is reporting a gain of 93,000 private sector jobs. This is the biggest job gain in 3 years. Even more encouraging, the October private sector jobs numbers were revised, from 43,000 to 82,000. That's almost double what was originally reported. Now don't get your panties all in a bunch, this still is not enough to lower unemployment.
Initial weekly unemployment claims dropped to 407,000 this week. That's close to the magic number, 400,000 or below, needed to start creating jobs. This is the lowest number since July 2008, over two years. Initial weekly unemployment claims is a volatile number, subject to revisions.
The House of Representatives on Thursday voted down a measure that would have reauthorized extended unemployment insurance for another three months, leaving no clear path forward to prevent the benefits from lapsing as scheduled on Nov. 30.
Without a reauthorization, the Labor Department estimates that two million long-term unemployed will prematurely stop receiving benefits before the end of the year.
"I think it's a sad moment," said Rep. Alan Grayson (D-Fla.) after the vote. "It appalls me that the Republicans keep pitching and pitching and pitching the tax cuts for the rich and won't join in a bill to help people keep their homes and not have to live in their cars."
The bill was brought to the floor under a "suspension of the rules," meaning it required approval from two-thirds of the House. It failed 258 to 154, with mostly Democratic support. Twenty-one Republicans voted in favor and 11 Democrats voted nay.
Remember this only covers (if they were extended) 48% of the workforce. Most can't even qualify to obtain unemployment benefits due to being self-employed, temporary and so on.
Recent comments