APR# Fri, May 5. Mar:+211,000 jobs. Unemployment down to 4.4%...APR details coming.. Jobs since Trump took office?... Unemp. rate under Trump? (not yet updated)

Friday, November 16, 2012

The Truth About That Big Jump in Weekly Unemployment Claims

The Truth About that Big Jump in Weekly Initial Claims for Unemployment Insurance: 

Yep, it is a big jump indeed, the biggest jump in months.  The number of people filing for first time claims last week, the week ending November 10th, was 439,000 a jump of 78,000 over the number of first time claims filed for the week ending November 3rd.  361,000 claims were filed during that week.  (See the graph below.)

The controversy is whether or not the increase in claims for the week ending November 10th is due to the effect of Hurricane Sandy.. or, as some in the right wing blogosphere believe, due to the re-election of President Obama.  More discussion about this below.


Meanwhile, the percent of unemployed people who are getting unemployment benefits continues to fall, as it has over the past year.  The percent of unemployed people who are getting any level of benefits as of the week ending October 27th, 2012, is 40.6%.  (12,258,000 unemployed people and 4,977,808 people receiving any kind of unemployment benefits.)  The percent of unemployed people who were getting unemployment benefits as of the same week a year ago, the week ending October 29th, 2011, was 49.2%.  (13,759,000 people were unemployed and 6,773,326 of them received benefits.)

The righties are having a field day with the increase in claims.

This thread at the Huffington Post is full of inaccurate statements and even a few racist comments.  So let's look at the facts-- and the rumors-- being touted by our friends on the right.

Is the jump in claims due to Hurricane Sandy?

We won't know for sure until next week when the state numbers for the week ending November 10th are released.. because we don't yet know where the layoffs for the week of November 10th occurred!  State weekly numbers are a week BEHIND the national weekly numbers.  However, it's very likely that most of the huge increase in initial claims is due to Hurricane Sandy.  There were big increases in initial claims in three states for the week ending November 3rd, and those states were three of the many states that were impacted by Sandy:  Ohio, Pennsylvania, and New Jersey.

Now most initial claims due to Sandy were NOT filed in the week ending November 3rd, which is why nationwide initial claims went DOWN during that week.  But they hit the week ending November 10th with gusto, which is what most people who look at these numbers expected.   
Updated November 21, 2012:  The increase in unemployment claims for the week ending November 10th does appear to be related to unemployment claims following Hurricane Sandy.  In the weekly unemployment claims report released just today, a weekly report that includes state detail from the week ending November 10th, there was an increase of 43,956 claims from New York and an increase of 31,084 claims from New Jersey.  Pennsylvania also showed an increase of claims of 7,037 and Connecticut, another state hit by Sandy, showed an increase of claims of 1,808.  Claims from these four states total over 83,800, which is more than the 78,000 increase in claims reported last week.
A few facts and a few falsehoods pertaining to this week's report: 

Initial claims have been going down and are still as a whole lower this fall than they were last fall:








"But claims are up in Pennsylvania and Ohio this week and they weren't impacted by the storm--  Someone is lying!"

Sigh.  If it's not Benghazi, it's something else.  

The state numbers follow the national numbers by one week.  In other words, we had a huge increase in unemployment claims in the week ending November 10th.  But the state numbers that were reported, the state numbers that showed a decrease in claims for New York (which was hard hit by Sandy) and an increase in claims for Pennsylvania and Ohio, were for the week ending November 3rd.  

Few claims resulting from Sandy were filed in the week ending November 3rd; most of these claims were filed in the week ending November 10th.  As I wrote above, we won't know how many initial claims were filed from the hurricane states until next week.   


Unemployment Claims Following Hurricane Katrina:

For the record, there was an increase of 100,000 in initial unemployment claims in the week following Katrina.  The number of initial claims was elevated for over 6 weeks in the fall of 2005, but then came back down to its pre-Katrina numbers.  Sandy was a very large storm affecting a very populated area.  We can expect high claims numbers for several more weeks.

     

"Right before the election there was a big decrease in initial claims.  Now it has gone up, so something is fishy."

No.  

There was a big drop the first week of October, but that was due to irregularities in reporting from at least one state.  The number of claims went up the second week of October, but the low claims and the high claims evened out over those two weeks to just about the same average.

"Obama has been reelected; and we are now plunging into recession.  You'll be sorry!"

Oh, please... You lost.  Go away.  The market has been down since Obama was re-elected due to "fiscal cliff" issues regarding tax cuts and automatic spending cuts that will kick in on January 1st if nothing is done about them.  That creates uncertainty and markets do not like uncertainty.

And, as I have said and as every pundit out there has said, this week's huge jump in initial claims for unemployment benefits is most likely due to Hurricane Sandy.  We will see which states contributed to the increase NEXT week.  We don't have that state information THIS week.  

Thursday, November 8, 2012

It's Arithmetic, Anonymous! And Pizzas--


How can we have MORE jobs when the unemployment rate went up? 


Perhaps a short lesson in fourth grade arithmetic will help some readers understand something that seems very perplexing to them:
"How can the umenployment (sic) rate be .1 % higher since taking office yet your claim is there is a net increase in jobs?" 
Let's translate, as this is what Dear Reader (Mr. Anonymous) is really thinking:

"The unemployment rate went UP one tenth of a percent last month and it is one tenth of a percent more than it was when Obama took office. But "they" say that there are MORE jobs and MORE workers! How can that be? (The latent question here is: Are those Obama supporters in the BLS cooking the books? I mean the right wing media keeps telling me that the economy really still sucks, and it sucks worse than it did when Obama was elected in 2008, and, well, we just can't have more jobs, especially if the unemployment rate went up, because my brother-in-law just got laid off last month.)"
Slice of pizza found HERE.

Here's the answer:  

The unemployment rate is a FRACTION

It's ARITHMETIC, "Anonymous", something which appears to elude you which is why you wind up voting Republican and believing all of the right-wing hooey about the U.S. becoming Greece.

Think of pizzas. A sausage pizza or a cheese pizza or any kind of pizza that your little heart desires. 


Let's say you have a thin crust pizza that is 12 inches in diameter and a thin crust pizza that is 16 inches in diameter.   If you can't visualize this in your head, you may have to actually go out and buy a couple of pies.

You cut each pizza into 12 equal pieces. Now, assuming you like pizza, which piece of pizza would you want.. One from a 12 inch pie or one from a 16 inch pie?  There's 12 pieces in each pie, what's the difference?


That's what happened: The pizza, representing the total number of available workers, both those working and those who are looking for work, is bigger than it was last month.  It's bigger now than it was in January 2009.  So the total number of jobs is higher even after you take out the piece (not quite a twelfth) that represents the unemployed.

Basic, simple arithmetic.  And pizzas.

 



Monday, November 5, 2012

How Many Jobs Created or Lost Under Obama? (October 2012 update)




Latest jobs reports (2011 through 2015) indexed HERE!     

How Many GOVERNMENT Jobs Lost or Created Under Obama?


The following numbers are for October 2012.  
For latest reports and numbers, please click one of the links above.

How Many Jobs Has Obama Created or Lost as of October 2012?  Keep Reading.. Answer is Below 


Fact check on jobs numbers...

The first section of numbers DOES include jobs numbers WITH the benchmark revisions which were announced September 27, 2012.   The benchmark revisions will NOT be included in the official BLS data until January 2013.  The second set of numbers DOES NOT include the benchmark revisions.  Benchmark revisions added 386,000 jobs in total and 453,000 private sector jobs.  Information about these revisions can be found HERE.

Numbers for October WITH benchmark revisions:

How many jobs created or lost under Obama?
How many private sector jobs have been lost or added during Obama's presidency?

Since the "trough" of the recession in late 2009/early 2010 in seasonally adjusted numbers:
  • 4,897,000 MORE jobs in total
  • 5,425,000 MORE private sector jobs
  • 5,416,000 MORE people working 

Since Bush left office & Obama took office (January 2009) in seasonally adjusted numbers:
  • 580,000 MORE jobs in total
  • 1,212,000 MORE private sector jobs
  • 1,197,000 MORE people working

Since the stimulus was passed (# as of March 12, 2009) in seasonally adjusted numbers: 
  • 2,103,000 MORE jobs in total
  • 2,724,000 MORE private sector jobs
  • 2,630,000 MORE people working

Since the beginning of Obama's first Fiscal Year (October 2009) in seasonally adjusted numbers: 

  • 4,609,000 MORE jobs in total
  • 5,195,000 MORE private sector jobs
  • 4,983,000 MORE people working

Have any private jobs been lost (net) over the past 32 months?

NO!

  • 32 months of consecutive private-sector job growth.

Have any jobs been lost (net) over the past 25 months?

NO!
  • 25 months of consecutive over all job growth.




Numbers for October WITHOUT benchmark revisions:

How many jobs created or lost under Obama?
How many private sector jobs have been lost or added during Obama's presidency? (All seasonally adjusted numbers.)

Since the "trough" of the recession in late 2009/early 2010:
  • 4,511,000 MORE jobs in total
  • 4,972,000 MORE private sector jobs
  • 5,416,000 MORE people working 
Since Bush left office & Obama took office (January 2009):
  • 194,000 MORE jobs in total 
  • 759,000 MORE private sector jobs
  • 1,197,000 MORE people working

Since the stimulus was passed (# as of March 12, 2009): 
  • 1,717,000 MORE jobs in total
  • 2,271,000 MORE private sector jobs
  • 2,2630,000 MORE people working

Since the beginning of Obama's first Fiscal Year (October 2009): 
  • 4,223,000 MORE jobs in total
  • 4,742,000 MORE private sector jobs
  • 4,983,000 MORE people working

Have any private jobs been lost (net) over the past 32 months?
NO!
  • 32 months of consecutive private-sector job growth.

Have any jobs been lost (net) over the past 25 months?
NO!
  • 25 months of consecutive over all job growth.

(Explanations and detail below.  Keep reading.)



How many jobs have been lost or gained during the Obama administration?  Have more new jobs been created or have more jobs been lost under Obama to date?   

Summary:  

We are in positive territory when we look at total jobs numbers, private jobs numbers, and people working compared to the "trough" of the jobs recession in late 2009/early 2010.

We are also in positive territory when we look at total jobs numbers, private jobs numbers, and people working compared to the start of Obama's first Fiscal Year in office which started October 1, 2009.
 
When we look at the BLS benchmark revisions, we are in positive territory in terms of total jobs numbers, numbers of people working, and private sector jobs since Obama took office.  

We are now adding jobs at a fair clip, with an average of 173,000 MORE jobs  total added per month since December 2010 with the revised benchmarked data, and an average of  187,000 MORE jobs added per month in the private sector since December 2010 with the revised benchmarked data.





Here's a summary of data from the BLS (Bureau of Labor Statistics).  All numbers lost to the "trough" of the recession reflect ALL non-farm jobs lost between the time Obama took office and the lowest point of the recession in late 2009/early 2010.  These numbers DO reflect the new benchmarks:
(Note:  All of the jobs numbers are NET numbers.  In other words, we know that jobs are lost and added every month, in good years and in bad.  The numbers reported here, based on Bureau of Labor Statistics numbers, are "net" numbers; that is, the number of jobs gained after the number of jobs lost is subtracted, or the number of jobs lost after the number of jobs gained is added.)  
Seasonally adjusted:
  • All jobs lost from the time Obama took office to "trough" (bottom of recession): .....4,317,000
  • All jobs gained since "trough": ....4,897,000 (with benchmark revisions)
Net GAIN in seasonally-adjusted jobs since Obama took office: .... 580,000                     

Sunday, November 4, 2012

Do Republicans Want To Keep Older People Working?

Jack Welch, the ex-CEO of GE, is at it again, distorting and questioning the unemployment rate.
Jack Welch from Bloomberg

From Huffington Post:

WASHINGTON -- Former General Electric CEO Jack Welch rewrote economic history during a Saturday appearance on Fox News, criticizing President Barack Obama for "the 2009 recession," while offering a new metric by which unemployment would be 11 percent.
"The real unemployment rate, if you take the last 10 years prior to the 2009 recession, a 10-year average of what's called the participation rate -- how many people are working temporarily, full-time, and wanting to work -- if you take that number, and you take the 10-year average, and you run it now with this workforce, you would have an unemployment rate close to 11 percent," Welch said. 

There is, in fact, no specific "2009 recession." According to the National Bureau of Economic Research, the official committee that measures and studies economic cycles, the U.S. economy entered a recession in December 2007, which ended in June 2009. Recessions are categorized as periods in which gross domestic product -- a measure of economic output -- declines. The effects of this decline can reverberate in the labor market for years after growth resumes. By referring to "the 2009 recession," however, Welch creates a timeline in which Obama is the only president presiding over economic hardship.
We've Heard It Before 

There is nothing new with Welch's theory.  The Republicans have been promoting this or something similar everywhere for months.  As soon as the unemployment rate started to decline, they went to alternate unemployment rates:  Either the U-6 rate, which they suddenly declared was the "real" unemployment rate, or this alternate rate based on the labor participation rate.


The Definition of the Labor Participation Rate 

First of all, Welch doesn't seem to understand what the labor participation rate is.  It is the number of people who are employed, either full-time, part-time, temporary or permanent, PLUS the number of people who are ACTIVELY looking for work AS A PERCENTAGE of the "civilian non-institutional population aged 16 and over".   There is a special count of people who "want to work" but unless those people were out there in the last month actively looking for work, they are not counted as "actively looking for work".

Why the Labor Participation Rate Increases or Decreases 

Now, the labor participation rate goes up and down due to two things:  The economy and demographics.  Yes, the economy will send the labor participation rate down as people sit out a bad labor market and don't work and don't look for work.  Very often, as the economy improves, people who have been sitting out jump back in and start looking for work.  The labor participation rate will go up.. but the unemployment rate will go up as well.

But one of the biggest reasons that the labor participation rate has declined over the past dozen years is demographic:


The Baby Boomers are getting older.


They are retiring and leaving the labor force.  They may not be retiring as fast or as early as their parents, but they are leaving the labor market in droves.  We've added 40 million people to the "civilian non-institutional population 16+" (the base for which employment/unemployment numbers are calculated), and 27 million of those people are 55 or older.  The numbers are even more skewed when just looking at population changes since 2009.  We've added 9.2 million people to the "civilian non-institutional population 16+" and 9.1 million of them are 55 or over. 
Though the labor participation rate of people 55+ has increased over the past decade, it is still about half that of people 25-54.  And isn't that really the way that it should be?

Do We Really Want To Keep Older People from Retiring?

The only way to get that labor force participation up to where the Republicans THINK it should be is to keep older people from retiring.  Is that what they want?  Even as the economy picks up and adds jobs, as it has been, we shouldn't expect the labor force participation rate to increase much.   The last time the labor participation rate for people 55+ was as high as now was back in the late 50's/early 60's before Medicare was enacted and before Social Security really kicked in.  Remember, though, that the more people in the labor force (working or looking for work), the more employers can pick and choose and perhaps treat people badly, as many have been during this recession. 

A high labor participation rate is not necessarily the sign of a healthy economy or a healthy country, particularly among older people.

 

Friday, November 2, 2012

What Was the Unemployment Rate When Obama Took Office Compared to Now?


This report has been updated HERE for June 2015.


The following post is for October 2012, two years ago.  Please select one of the links above for updated numbers.



What was the unemployment rate when Bush left office and Obama was inaugurated? 
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 today's (October 2012's) unemployment rate?   7.9%

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?
  • Read below the graph.





  • The following chart shows the unemployment rate in three month intervals:  


  • Why are there two lines, one for "Seas Adjusted" and one for "Unadjusted"?

    The Bureau of Labor Statistics uses seasonal adjustments to adjust for the volatility in the labor market from one month to the next.  The relatively even red line above shows the unemployment rate based on seasonally adjusted numbers.  The jagged green line shows the unemployment rate based on "real", "raw" numbers; the unadjusted rate.  Notice that the green line goes up in January (after holiday layoffs) and July (school-related layoffs), and it goes down in October and April, which are strong months for workers.  (Employees are all back to school in October, and employers are staffing up for the holidays.  Schools are also full in April and employers are starting to staff up for summer, construction, vacation venues, etc.)  The green line, however, reflects "reality":  Your friends, neighbors, and family members actually working or not working.  

    Private & Government Jobs Gained & Lost Under Obama (October 2012 update)


    January Jobs News Highlights HERE:

    How many jobs (total, private, and government) have been lost or gained since Obama was inaugurated?  
    • 4,317,000 TOTAL jobs (in seasonally adjusted numbers) were LOST in from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of 3.2%.    
    • 4,511,000 jobs (in seasonally adjusted numbers) were CREATED from the "trough" of the recession until now, October 2012.  That's an increase of 3.44%.
    • In total, 194,000  jobs (in seasonally adjusted numbers) were ADDED from the time Obama took office until now, October 2012.  That's an increase of 0.15%.
    • We have experienced 25 months WITHOUT job losses since September 2010.  We have ADDED 3,870,000 jobs during those 25 months. 
    • We now have 133,755,000 TOTAL non-farm jobs. 
    With Benchmark Revisions:
    • 4,317,000 TOTAL jobs (in seasonally adjusted numbers) were LOST in from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of 3.2%.    
    • 4,897,000 jobs (in seasonally adjusted numbers) were CREATED from the "trough" of the recession until now, October 2012. 
    • In total, 580,000  jobs (in seasonally adjusted numbers) were ADDED from the time Obama took office until now, October 2012.   
    • We now have 134,141,000 TOTAL non-farm jobs. 
    * Click on the link for information about Benchmark Revisions which were released last week by the Bureau of Labor Statistics.  The BLS databases will not be updated with these new numbers until January 2013.
    *  These are all net figures, meaning that they represent the total number of jobs at the end of a reporting period.  All losses have been subtracted from all gains and vice verse.
      *  Though, as of July 2012, we still have fewer jobs (in adjusted numbers) than when President Obama took office, jobs are being added at a faster clip under Obama than under George Bush at the same time in his presidency.  At this point in Bush's presidency (July 2004), there were still 978,000 FEWER jobs than when he was inaugurated in January 2001 (compared to 316,000 FEWER for Obama).  The number of jobs didn't eclipse the number when Bush was first inaugurated until February 2005, in Bush's second term.  (This will be updated for October in the next few days.)  

      How many PRIVATE sector jobs have been lost or gained since Obama was inaugurated?
      • 4,213,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of 3.8%.
      • 4,972,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were GAINED OR CREATED from the "trough" of the recession until now, October 2012.  That's an increase of 4.56%.
      • In total, 759,000 private sector jobs (in seasonally adjusted numbers) have been GAINED from the time Obama took office until now, October 2012.  That's a net increase of 0.7%. *
      • We have experienced 32 months of positive private-sector job GROWTH from February 2010 until October 2012.  We have added 4,972,000 private-sector jobs during those 32 months.    
      • We now have 111,744,000  PRIVATE sector non-farm jobs.
      • 4,213,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until the "trough" of the recession in early 2010.  
      • 5,425,000 PRIVATE-sector jobs (in seasonally adjusted numbers) were GAINED OR CREATED from the "trough" of the recession until now, October 2012. 
      • In total, 1,212,000 private sector jobs (in seasonally adjusted numbers) have been GAINED from the time Obama took office until now, October 2012. 
      • We now have 112,197,000 PRIVATE sector non-farm jobs.

      *Though, as of July 2012, we still have fewer private-sector jobs (in adjusted numbers) than when President Obama took office, jobs are being added at a faster clip under Obama than under George Bush at the same time in his presidency.  At this point in Bush's presidency (July 2004), there were still 1,749,000 FEWER private sector jobs than when he was inaugurated in January 2001 (compared to 332,000 MORE for Obama).  The number of private-sector jobs didn't eclipse the number when Bush was first inaugurated until June 2005, in Bush's second term.  (This will be updated with October numbers in the next few days.)        

      How many GOVERNMENT jobs have been lost or gained since Obama was inaugurated?  (Government jobs include federal, state, and local government jobs.)
      • 102,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until the "trough" of the recession in early 2010.  That's a decrease of  .47%  (about half of a percent). 
      • Another 463,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the "trough" of the recession until now, October 2012.  That's a decrease of 2.10%.    
      • In total, 565,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until now, October 2012.  That's a decrease of 2.54%.  A large portion of these jobs, about 200,000, have been lost in the "Local Government - Education" sector. (Teachers.)
      • We have experienced decreases in the number of government jobs in 22 out of the last 28 months, starting in June 2010, when the layoff of 2010 Census workers began.  However, we have experienced slight increases in the number of government jobs in the last 3 consecutive months.   
      • We now have 22,011,000 GOVERNMENT jobs, not including people in the military.  (Civilians employed by the U.S. and working for the military are counted.)
      • Another 530,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the "trough" of the recession until now, October 2012.  That's a decrease of 2.10%.    
      • In total, 709,000 GOVERNMENT jobs (in seasonally adjusted numbers) were LOST from the time Obama took office until now, October 2012.
      • We now have 21,944,000 GOVERNMENT jobs, not including people in the military.  (Civilians employed by the U.S. and working for the military are counted.)
      (Note:  Current numbers taken from the Bureau of Labor Statistics Employment Situation Report.  Historical numbers taken from various archived Employment Situation reports as indexed HERE. Specifics will be provided upon request; please email me or leave a comment.)

      An afterthought---

      A reader asks:

      How Many Private Sector Jobs Were Lost Because of Obama?

      We haven't lost ANY private sector jobs (net) since February 2010, a year after Obama took office.  Between January 2009 and February 2010, we lost 4,213,000 private sector jobs as stated above.

      Should we "blame" Obama for not being immediately able to stem the tide of private sector job loss in 2009?  If a house is burning out of control and the fire department comes to put out the fire, it continues to burn until it is brought under control and cooled down, right?  Now.. would you blame the fire department for the continued fire and the time to put it out after the firefighters arrive on the scene?

      Well, you might, but I wouldn't:  Here's my reasoning:  Burning Down the House!

      So my answer to this question would be a big, fat ZERO.  I do NOT feel that Obama is to blame for any loss of jobs between January 2009 and February 2010.  If you think he is, please leave a comment and explain your reasoning!

      October 2012 Jobs News Summary



      October Jobs Reports & Summaries: 
      • October Summary: Report shows solid INCREASES in total jobs and private-sector jobs, but a decline in government jobs.  Unemployment is up one tenth of a percent to 7.9% as 578,000 people ENTER the job market and either look for jobs or find a job.  This is the largest civilian labor force that we have ever had in this country.  (The civilian labor force is the total of people employed and people actively looking for work.)  Of the 578,000 new people in the civilian labor force,   410,000 MORE people (in seasonally adjusted numbers) report themselves as employed in October vs. September and 170,000 MORE of those people report themselves as actively unemployed.  
      • Economy adds 171,000 jobs; more jobs than were predicted.  Private sector jobs increase by 184,000; government jobs decreased this month by 13,000.  
      • 245,000 more jobs reported this month than last when including upward revisions from the last two months.  After adding earlier revisions from July and August and adding the 386,000 jobs that were discovered in the benchmark revisions, we have 841,000 more jobs than we thought we had in August.
      • Unemployment increases slightly to 7.9% as people enter the labor force.  This is one tenth of a point higher than when Obama took office, four tenths of a point lower than Obama's first full month in office.  Over 410,000 more people report themselves as employed.    170,000 more people reported themselves as unemployed and 578,000 people entered the work force.  
      • Manufacturing jobs increase by 13,000; private service-producing jobs increase by 163,000.   
      • Unemployment rates were even for most ethnic and age groups.  However, the unemployment rate for black people, which had ticked down .7% last month, ticked back up by .9% this month and now stands at 14.3%.  (However, this was due to people entering the labor force and not to people losing their jobs.)
      • Unemployment declined to 3.8% from 4.1% 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 is 7.0%.
      • Employment increased the most among people 55+ years of age.  In particular, employment increased the most among men  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.)
      • 233,000 more full-time workers this month; 124,000 fewer part-time workers.  We have 2,619,000 more full-time workers than we had a year ago.
      • Though we have about 50,000 fewer self-employed workers than we had last month; and we now have 240,000 more self-employed workers than we did a year ago. 
      • 3,087,000 more people employed than a year ago.
      • 1,501,000 fewer people unemployed than a year ago.
      • About 2,100,000 more jobs than we had a year ago.
      • 4.8 million more jobs than at the "trough" of the recession (including benchmark revisions); 5.4 million more private sector jobs than at the "trough" of the recession (including benchmark revisions).

      Watch for the following updates throughout the day: