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Friday, December 7, 2012

November 2012 Jobs News Highlights




November Jobs Reports & Summaries: 
  • November Summary: Report shows INCREASES in total jobs and private-sector jobs; government jobs are even.  Unemployment is down two-tenths of a point to 7.7% as 200,000 fewer people report themselves as unemployed.  
  • However, there were 350,000 fewer people in the civilian labor force, and 122,000 fewer people (in seasonally adjusted numbers) report themselves as employed in November vs. October.  However, the decrease in employment was among part-time employees; not among full-time employees. 
  • Unemployment in all race, age, and gender groups decreased during November.  The largest drop occurred among African-Americans; the unemployment rate of African-Americans dropped 1.1% to 13.2%
  • Economy adds 146,000 jobs; more than were predicted.  Private sector jobs increased by 147,000; government jobs decreased this month by 1,000.  
  • October jobs numbers were adjusted downwards by 49,000.  48,000 jobs of this revision were in the government sectors.  We have 416,000 more jobs than we had in August, or an increase of 139,000 jobs in each of those months.  
  • Manufacturing jobs declined by 7,000; private service-producing jobs increase by 169,000.   
  • Unemployment remained at 3.8% for people 25 and over with Bachelor's degrees or higher.  The unemployment rate for young people under 25 with Bachelor's degrees or higher and not currently in school remained at 7.0%.
  • The unemployment rates for high school graduates with no college and for people with Associate's degrees or some college dropped, from 8.4% to 8.1% and from 6.9% to 6.5% respectively.
  • Employment continued to increase the most among people 55+ years of age.  (It would be best to assume that this increase does not represent older people getting hired as much as it represents employed people turning 55 and aging into this older age group.)
  • 198,000 more full-time workers this month; 337,000 fewer part-time workers.  We have 2,445,000 more full-time workers than we had a year ago.
  • We have about 190,000 MORE self-employed workers than we had last month and we have 262,000 MORE self-employed workers than we did a year ago.  (The number of self-employed workers tends to be volatile.) 
  • 2,648,000 more people employed than a year ago.
  • 1,294,000 fewer people unemployed than a year ago.
  • About 1,889,000 more jobs than we had a year ago.  (About 2,913,000 more jobs including benchmark revisions.)
  • 5.0 million more jobs in total than at the "trough" of the recession (including benchmark revisions); 5.6 million more private sector jobs than at the "trough" of the recession (including benchmark revisions).

Now ready:

Watch for the following updates throughout the next days:
 
  • Jobs Lost/Created Year by Year Since 1999
  • Private/government Jobs by Month for 2011 & 2012 
  • How Many Jobs Have Been Created/Lost Under Obama?  
  • How Many Jobs Lost/Gained in 2012 to date? 

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