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Unemployment up at 3.7%...AUG jobs under Trump HERE

Friday, June 3, 2011

Unemployment May: More People Looking for Work

Updated links on jobs numbers for June 2011:

How many jobs Were Created or Gained Under Obama? (updated for June 2011)
How many jobs has Obama created or lost?  (updated for June 2011) 
Number of jobs created by Obama updated for June 2011
Full analysis on June's job report will be available later today, July 8th. 

How many more people are working in May 2011?

  • 100,000 more people are working in May in seasonally-adjusted numbers.  
  • 370,000 more people are working in May in real unadjusted numbers.

  • Employers report 54,000 more jobs in May in seasonally-adjusted numbers.
  • But employers reported 680,000 more jobs in May in real unadjusted numbers!

Read Here:
How Many People are Looking for Jobs?
Molly's articles about employment and unemployment

So...  why are the headlines this morning screaming:  "Stocks Sink as Jobless Rate Rises" and "Jobs Disaster!"

Two things: 

  1. More people re-entered the job market in terms of "actively looking for work", thus adding to the number of people who are officially unemployed.  As a result, the unemployment rate went up.
  2. 54,000 in seasonally-adjusted new jobs in May isn't that great, despite the fact that 680,000 real jobs were created in May in unadjusted numbers.  In other words, we'd expect more than 680,000 new jobs to be created in the month of May.

Stay tuned for more detailed reports about who won and lost Employment Roulette May 2011 during the day and over the next few days.

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