APR # Fri, May 6. Mar#: +215,000 jobs, Unemp rate up slightly to 5.0%. March details here!.. Jobs since Obama took office?... Unemp. rate under Obama?

Friday, April 1, 2016

March 2016 Unemployment Rate, Jobs

The March 2016 Jobs numbers and unemployment reports were released by the Bureau of Labor Statistics on April 1st, 2016.  The April numbers will be released Friday morning, May 6th.    

 

March highlights:
  • Payroll jobs increased by +215,000 and the unemployment rate ticked up slightly to 5.0% as about 400,000 people entered the job market (meaning that they started working or started looking for work).  That is a NET number. 
  • +195,000 new private sector jobs; +20,000 government jobs, almost all in local government but not education. 
  • Over the past 3 months, job gains have averaged 209,000 per month.  
  • Also, there are about 1.9 million more people who have entered the job market over the past 4 months, with about 1.9 million more people employed over the past 4 months.  This means that people are looking for jobs and finding them.
  • The BLS changed their January and February estimates slightly.  January numbers were decreased slightly from 172,000 to 168,000 and February numbers were increased slightly from 242,000 to 245,000.
  • As a result of more people in the labor force, the labor force participation rate increased very slightly from 62.9% to 63.0%.
  • The number of people not in the labor force (people in school, people retired, people home with children, etc.) decreased for the fourth month in a row as people returned to work.  It is now 93,482,000. 
  • The alternate unemployment rate increased very slightly to 9.8% from 9.7%, reflecting the slight increase in the regular (U-3) unemployment rate.  
  • As mentioned above, the labor force participation rate has been increasing as more people go back to work, and it is now at 63.0%, the highest it has been in about 3 years.  Year over year, we have about 2.4 million MORE people in the labor force.  Remember that there is NO ideal labor force size, and most of the overall decrease in the labor force participation RATE over the last few years has been due to Baby Boomers retiring in great numbers.
  • The overall number of people employed increased by  246,000.
  • The number of people working full-time increased by 241,000 last month; the number of people working part-time decreased by about 35,000 last month. There are 2.5 million MORE people working full-time than there were a year ago, and 525,000 MORE people working part-time than a year ago.


The pundits were expecting continued good job growth, in the vicinity of 200,000 new jobs.  The ADP report, which was released Wednesday, March 30th, showed an increase of 200,000 private sector jobs.  In the ADP report, Mark Zandi made the following comments:  

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues on its amazing streak. The March job gain of 200,000 is consistent with average monthly job growth of the past more than four years. The only industry reducing payrolls is energy as has been the case for over a year. All indications are that the job machine will remain in high gear.

March 2016 reports: (As usual, notation on the links will be changed to "UPDATED for March" when the updated reports become available later today or over the weekend.  Not all reports are updated every month.) 

More highlights and reports will continue to be posted here throughout the day and over the weekend.  Please check back!

Friday, March 4, 2016

How Many Jobs Has Obama Created or Lost? (February 2016 update)

How many NET jobs created or lost under Obama* as of February 2016? How many private sector jobs have been lost or added during Obama's presidency?


How many new jobs in the last 7 years since Obama was inaugurated?  How many Americans were working or employed when Obama took office... compared to now?

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March 2016 numbers will be released Friday morning, April 1st.  MARCH reports will be listed HERE.
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Continue below...

February 2016 Unemployment Rate, Jobs

The February Jobs Reports were released this morning, Friday, March 4. The economy added 242,000 new jobs, a larger number than expected, while the unemployment rate stayed the same at 4.9%.

March 2016 reports will be released Friday morning, April 1st.  Check HERE after 9 a.m. EDT.


The number of jobs added was about 
50,000 MORE than the expected by the various pundits.  We have continued to break records in the streak of months of consecutive job growth, both in the total number of jobs and in the number of private jobs.  We now have 72 months of consecutive PRIVATE sector job growth (since Feburary 2010) and 65 months of consecutive TOTAL jobs growth (since September 2010).

Remember that jobs numbers are seasonally adjusted.


From the BLS Employment Situation report:
 

The change in total nonfarm payroll employment for December was revised from +262,000 to +271,000, and the change for January was revised from +151,000 to +172,000. With these revisions, employment gains in December and January combined were 30,000 more than previously reported. Over the past 3 months, job gains have averaged 228,000 per month. 


February Highlights:
  • 242,000 total new payroll jobs.
  • 230,000 new private sector jobs.
  • 12,000 increase in the number of government jobs.
  • These numbers are higher than the 190,000 new jobs estimated by the various "pundits". 
  • The unemployment rate stayed the same at 4.9% as the number of unemployed increased slightly by 24,000 and as the number of people employed increased significantly by 530,000.  The number of people in the labor force (people working PLUS people actively looking for work) increased by 555,000. 
  • The number of people NOT in the labor force (This includes people 16 years of age and older who are in school, retired, home with children, etc.) decreased by 374,000 to 93,688,000 due to the large number of people entering the labor force.   
  • The labor force participation rate increased by .2% to 62.9% due to the large number of people entering or re-entering the labor force.  (This is the highest the labor force participation rate has been for over a year.)
  • Year over year, we have about 2,000,000 MORE people in the labor force DESPITE large numbers of Baby Boomers retiring.  Remember that there is NO ideal labor force participation rate.  Also remember that most of the overall decrease in the labor force participation rate is due to these large numbers of retiring Baby Boomers.
  • Alternate unemployment rate declined .2% to 9.7% after staying the same for three months.  (This is due mostly to a decrease in the number of "marginally attached" workers, those who say they want a job and have looked in the past year, but did not look for work in the past month.  It also includes discouraged workers, a number which has declined by 133,000 or 18% over the past year.) 
  • The number of people working full-time increased by 65,000 last month.
  • The number of people working part-time increased by about 489,000 last month, but most of those people (about 304,000) were working part-time by choice. 
  • The number of people working part-time INVOLUNTARILY stayed exactly the same and the number of people working part-time VOLUNTARILY INCREASED by 304,000.  
  • There are 2.4 million MORE people working full-time than there were a year ago, and 440,000 MORE people working part-time than a year ago.
  • As mentioned above, the BLS increased the December jobs numbers from +262,000 to +271,000 and increased the January jobs numbers from +151,000 to +172,000.  Over the past 3 months, job gains have averaged a very healthy 228,000 per month.
Since Obama took office (January 2009):
  • 9.5 million MORE jobs in total
  • 10.0 million MORE private sector jobs
  • 8.9 million MORE people working
  • 7.4 million MORE people working full-time
  • 1.5 million MORE people working part-time
  • 1.9 million FEWER people working part-time INVOLUNTARILY  


Since the "trough" of the recession in late 2009/early 2010:
  • 13.8 million MORE jobs in total
  • 14.3 million MORE private sector jobs
  • 13    million MORE people working
  • 12.7 million MORE people working full-time.
  • 1.2   million MORE people working part-time.
  • 3.3 million FEWER people working part-time INVOLUNTARILY.   

February 2016 reports: (As usual, notation on the links will be changed to "UPDATED for February" when the updated reports become available later today or over the weekend.  Not all reports are updated every month.) 


More highlights and reports will continue to be posted here throughout the day and over the weekend.  Please check back!

Friday, February 5, 2016

January 2016 Unemployment Rate, Jobs

The January Jobs Reports were released this morning, Friday, February 5. The economy added 151,000 new jobs, a smaller number than expected,  while the unemployment rate declined slightly to 4.9%.  

Though the number of jobs added was smaller than expected and not as large as prior months, we have continued the streak of months of consecutive growth in the number of jobs, both in the total number of jobs and in the number of private jobs.  We now have
71 months of consecutive private sector job growth and 64 months of consecutive total jobs growth.  


Remember that jobs numbers are seasonally adjusted, so the smaller number of jobs in January is
NOT due to the release of temporary part-time Christmas workers.


From the BLS Employment Situation report: 

The change in total nonfarm payroll employment for November was revised from +252,000 to +280,000, and the change for December was revised from +292,000 to +262,000. With these revisions, employment gains in November and December combined were 2,000 lower than previously reported. Over the past 3 months, job gains have averaged 231,000 per month. Monthly revisions result from additional reports received from businesses since the last published estimates and the recalculation of seasonal factors. The annual benchmark process also contributed to these revisions. 


January Highlights:
  • 151,000 total new payroll jobs.
  • 158,000 new private sector jobs.
  • 7,000 decrease in the number of government jobs.
  • These numbers are lower than the 195,000 to 200,000 new jobs estimated by the various "pundits". 
  • The unemployment rate declined slightly to 4.9% as the number of unemployed decreased slightly by 113,000 and as the number of people employed increased by 615,000.  The number of people in the labor force (people working and people looking for work) increased by 502,000. 
  • The number of people not in the labor force (people 16 years of age and older who are in school, retired, e home with children, etc.) decreased slightly by 41,000 to 94,062,000 due to the large number of people entering the labor force.   
  • The labor force participation rate increased slightly to 62.7% due to the large number of people entering or re-entering the labor force.  (The labor force participation rate has been between  62.4%  and 62.7% for the past seven months.)  
  • Year over year, we have about 1,310,000 MORE people in the labor force DESPITE large numbers of Baby Boomers retiring.  Remember that there is NO ideal labor force participation rate and most of the overall decrease in the labor force participation rate is due to these large numbers of retiring Baby Boomers.
  • Alternate unemployment rate stayed the same at 9.9%
  • The number of people working full-time increased by a large 538,000 last month.
  • The number of people working part-time increased by about 5,000 last month. 
  • The number of people working part-time INVOLUNTARILY DECREASED by 34,000 and the number of people working part-time VOLUNTARILY INCREASED by 68,000.  
  • There are 2.5 million MORE people working full-time than there were a year ago, and 120,000 FEWER people working part-time than a year ago.
  • As mentioned above, the BLS increased the November jobs numbers from +252,000 to +280,000 but decreased the October numbers from +292,000 to +262,000.  Over the past 3 months, job gains have averaged a very healthy 231,000 per month.
Since Obama took office (January 2009):
  • 9.2 million MORE jobs in total
  • 9.8 million MORE private sector jobs
  • 8.4 million MORE people working
  • 7.3 million MORE people working full-time
  • 987,000 MORE people working part-time
  • 2.1 million FEWER people working part-time INVOLUNTARILY  


Since the "trough" of the recession in late 2009/early 2010:
  • 13.6 million MORE jobs in total
  • 14   million MORE private sector jobs
  • 12.5 million MORE people working
  • 12.6 million MORE people working full-time.
  • 37,000 MORE people working part-time.
  • 3.4 million FEWER people working part-time INVOLUNTARILY.   



January 2016 reports: (As usual, notation on the links will be changed to "UPDATED for January" when the updated reports become available later today or over the weekend.  Not all reports are updated every month.) 

More highlights and reports will continue to be posted here throughout the day and over the weekend.  Please check back!

Friday, January 8, 2016

December 2015 Unemployment Rate, Jobs



Wow!


The December Jobs Reports were released this morning, Friday, January 8. The economy added 292,000 new jobs, a much higher number than expected,  while the unemployment rate remained unchanged at 5.0%.
Remember that jobs numbers are seasonally adjusted, so the big jump in numbers of jobs is NOT due to temporary part-time Christmas jobs.
A 2015 Highlight:

  • Over 2,000,000 jobs have been added each year for the past five years, from 2011 to 2015, inclusive.  The only other period of five years or more of consecutive additions of 2,000,000 or more jobs was during the Clinton years from 1993 to 1999 inclusive.

From the BLS Employment Situation report:
"The change in total nonfarm payroll employment for October was revised from +298,000 to +307,000, and the change for November was revised from +211,000 to +252,000. With these revisions, employment gains in October and November combined were 50,000 higher than previously reported. Over the past 3 months, job gains have averaged 284,000 per month." 


December Highlights:
  • 292,000 total new payroll jobs.
  • 275,000 new private sector jobs.
  • 17,000 increase in the number of government jobs.
  • These numbers are much higher than the 200,000 to 205,000 new jobs estimated by the various "pundits". 
  • The unemployment rate stayed exactly the same at 5.0% as the number of unemployed decreased slightly by 20,000 and as the number of people employed increased by 485,000.  The number of people in the labor force (people working and people looking for work) increased by 466,000. 
  • The number of people not in the labor force (people 16 years of age and older who are in school, retired, e home with children, etc.) decreased by 277,000 slightly to 94,103,000 due to the large number of people entering the labor force.  
  • Alternate unemployment rate stayed the same at 9.9% to 9.9%.  
  • The labor force participation rate increased slightly to 62.6% due to the large number of people entering or re-entering the labor force.  (The labor force participation rate has been between  62.4%  and 62.6% for the past six months.)  
  • Year over year, we have about 1,700,000 MORE people in the labor force DESPITE large numbers of Baby Boomers retiring.  Remember that there is NO ideal labor force participation rate and most of the overall decrease in the labor force participation rate is due to these large numbers of retiring Baby Boomers.
  • The number of people working full-time increased by a HHHUGE 504,000 last month.
  • The number of people working part-time increased by about 27,000 last month. 
  • The number of people working part-time INVOLUNTARILY DECREASED by 63,000 and the number of people working part-time VOLUNTARILY INCREASED by 72,000.  
  • There are 2.6 million MORE people working full-time than there were a year ago, and 86,000 FEWER people working part-time than a year ago.
  • As mentioned above, the BLS increased both the October and November numbers.  October numbers were increased slightly by 9,000 from +198,000 to +207,000, and the November numbers were increased by 41,000 from +211,000 to +252,000.  Over the past 3 months, job gains have averaged a very healthy 284,000 per month.

December 2015 reports: (As usual, notation on the links will be changed to "UPDATED for December" when the updated reports become available later today or over the weekend.  Not all reports are updated every month.) 

More highlights and reports will continue to be posted here throughout the day and over the weekend.  Please check back!

Friday, December 4, 2015

What was the unemployment rate when Obama took office and Bush left office? (Updated for November 2015)

What was the unemployment rate when Bush left office and Obama was inaugurated and took office? What was the unemployment rate when Obama came into office?                                   7.8% 

What was the unemployment rate after Obama's first full month in office (February 2009)?  
                                              8.3%

What was the unemployment rate at peak?  

                                                                            10.0%


What is the unemployment rate now (November 2015)?    
                                                                                                            5.0%  


All Latest Jobs and Unemployment Reports HERE

How many people were looking for work when Obama was inaugurated; how many were working?  And how many people are looking for work and how many are employed now?

Please read below the graph.


The following chart shows the unemployment rate in three month intervals plus the last three months:





Why are there two lines, one for "Seas Adjusted" and one for "Unadjusted" in the chart above?  This is explained at the bottom of the article.
  • What Caused the Rise in Unemployment When Obama Took Office?  Obama caused the unemployment rate to rise?  (Continue reading; the answer  is below the fold.)
  •  What Was the Unemployment Rate When Bush Took Office?  How high did it rise?  (The answer is also below the fold.)  

How Many Jobs Has Obama Created or Lost? (November 2015 update)

How many NET jobs created or lost under Obama* as of November 2015? How many private sector jobs have been lost or added during Obama's presidency?


How many new jobs in the last 7 years since Obama was inaugurated?  How many Americans were working or employed when Obama took office... compared to now?


Continue below.....


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November 2015 numbers were released Friday, Dec. 6.  Reports listed HERE.

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Private sector job growth has been stable and consistent since early 2010 with 69 months of consecutive private sector job growth.







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