unemployment

July 2011 Employment Disappoints But Stops Chicken Little in His Tracks

The July unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 43 months or over three and a half years. Yet those thinking Economic Armageddon Redux was suddenly upon us, literally crashing the BLS server to get the news, were sorely mistaken.

Earlier we reviewed the July 2011 BLS employment ratios. While not the Armageddon Wall Street was expecting, it's clear the job crisis has not dissipated. Both June and May new jobs numbers were revised upward, but not enough.

The change in total nonfarm payroll employment for May was revised from +25,000 to +53,000, and the change for June was revised from +18,000 to +46,000.

Let's drill down deeper into the numbers to show just how badly America needs good jobs.

There are 13,931,000 people officially unemployed, and if one takes the alternative measure of unemployment, it's 24.7 million.

ADP Employment Report 157,000 Private Sector Jobs for June 2011

ADP, a private organization, released their private payrolls jobs report. This month ADP is reporting a gain of 157,000 private sector jobs in June 2011. May was revised down to 36,000. Below are the reported private sector jobs from ADP. This report does not include government, or public jobs.

 

ADP Employment Report Only 38,000 Private Sector Jobs Added in May 2011

ADP, a private organization, released their private payrolls jobs report. This month ADP is reporting a gain of 38,000 private sector jobs in May 2011. This is a very sharp deceleration of job growth. Below are the reported private sector jobs from ADP. This report does not include government, or public jobs.

 

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