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Friday, April 5, 2013

How Many New Jobs Were Added (Created) or Lost in March 2013?



88,000 new jobs were CREATED or ADDED in the month of March 2013.  

This was BELOW the projections of 160,000 to 190,000 new jobs issued by various economists.

The private sector generated (added) 95,000 new jobs, but the government sector continued to shed (lose) jobs, 7,000 jobs, in March 2013.

206,000 FEWER people reported themselves as working in March 2013. 
         

The unemployment rate decreased to 7.6% in March 2013, mostly due to people leaving the work force.  The unemployment rate has been below 8.0% for 7 months in a row now.   A major reason for this month's decline in the unemployment rate appears to be young people 16 to 24 years of age leaving the labor force to return to school.  There were 292,000 young people 16 to 24 years of age FEWER who were enrolled in school AND in the labor force in March vs. February.


How many more or fewer people are working this month?  How many more or fewer jobs are there this month?  Were jobs lost or gained?

How many more jobs are there in March 2013 than there were in February 2013?

Let's look:

How many more private sector jobs are there in March than there were in February 2013?

How many more (or fewer) government jobs are there in March than in February 2012?
  • 7,000 FEWER government jobs in seasonally-adjusted numbers were reported by government employers at all levels (federal, state, and local) now than in February.
  • 75,000 MORE government jobs in "raw" actual numbers not adjusted for seasonal variations were reported by government employers at all levels in March vs. February.  

How many more people are reporting themselves as working in March than in February 2013?
  • 206,000 FEWER people reported themselves as working in seasonally-adjusted numbers than were working in February.
  • 470,000 MORE people reported themselves as working in "raw" actual numbers not adjusted for seasonal variations than were working in February.
  • 62,000 MORE people reported themselves as working full-time in seasonally adjusted numbers in March vs. February.
  • 127,000 FEWER people reported themselves as working part-time in seasonally adjusted numbers in March vs. February.
(Note:  All of my employment number reports are based on monthly reports and data published by the Bureau of Labor Statistics.  Monthly numbers reports are based on the monthly Employment Situation Report.  The Employment Situation report includes month over month and year over year jobs numbers.  My analysis is taken from the monthly BLS data copied to an Excel spreadsheet every month.  I calculate detailed percentage increases/decreases, 3 month numbers, year to date numbers, and I compare jobs numbers to those at the time of Obama's inauguration and at the "trough" of the recession.)

1 comment:

  1. The drop in unemployment came even as Americans come back into the labor force to resume the hunt for work.

    ReplyDelete

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