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Friday, November 8, 2013

Jobs Lost, Gained Over the Past Year (October 2013 update)

2,329,000 new jobs were CREATED or ADDED during the past year, from October 2012 to October 2013.  

The private sector generated (added) 2,355,000 new jobs, but the government sector continued to shed (lose) jobs, 26,000 jobs, year over year from October 2012 to October 2013.

240,000 MORE people reported themselves as working or employed, including people who are self-employed or working in agriculture, in the past year from October to October, however, this number has been affected by the October government shutdown.  The people who were furloughed generally did not report themselves as employed during the October reference week, the second week of October, as they were still on layoff.  We will have to see what happens to these numbers next month. 
         

The unemployment rate has declined from 7.9% in October 2012 to the current 7.3% in October 2013.  Again, the unemployment rate increased slightly during October, probably due to the government shutdown.  When considered year over year, the decline in the unemployment rate has been due mostly to a decrease in the number of people unemployed (from 12,248,000 to 11,272,000).  The Civilian Labor Force declined significantly over the past month, but much of this decline is due to the government shutdown; again, we will have to see what happens next month.  The unemployment rate has been below 8.0% for 14 months in a row now.  


How many more or fewer people are working in October 2012 to October 2013? How many more or fewer jobs are there in October 2013 vs. October 2012? Were jobs lost or gained?

How many more jobs are there in October 2013 than there were in October 2012?

Let's look:

How many more private sector jobs are there in October 2013 than there were in October 2012?

How many more (or fewer) government jobs are there in October 2013 than in October 2012?
  • 26,000 FEWER government jobs in seasonally-adjusted numbers were reported by government employers at all levels (federal, state, and local) now than in October 2012.
  • 22,000 FEWER government jobs in "raw" actual numbers not adjusted for seasonal variations were reported by government employers at all levels in October 2013 vs. October 2012. 

How many more people are reporting themselves as working in October 2013 than in October 2012?

How many more people working full-time and part-time last month compared to the year before?  (Note:  All of the following numbers have been affected by the recent government shutdown.) 
 
  • 240,000 MORE people reported themselves as working in seasonally-adjusted numbers than were working in October 2012.
  • 105,000 MORE people reported themselves as working in "raw" actual numbers not adjusted for seasonal variations than were working in October 2012.
  • 807,000 MORE people reported themselves as working full-time in seasonally adjusted numbers in October 2013 vs. October 2012.
  • 591,000 FEWER people reported themselves as working part-time in seasonally adjusted numbers in October 2013 vs. October 2012.
(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.)

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