April 2013

APRIL 2013 UNEMPLOYMENT DATA*
(U.S. BUREAU OF LABOR STATISTICS)

OFFICIAL UNEMPLOYMENT: 7.5% 
A year earlier, the number of unemployed persons was 12.5
million, and the jobless rate was 8.1 percent. [BLS]

White

     6.7%

African American

13.2%

Hispanic

9.0%

Asian**

                          5.1%

Persons with a disability**

    12.9%

Men 20 years and over

7.1%

Women 20 years and over

6.7%

Teens (16-19 years)

24.1%

Black teens

40.5%

Officially unemployed

11.7 million

 

 

HIDDEN UNEMPLOYMENT

Working part-time because can’t find a full-time job:  7.9 million
People who want jobs but are not looking so are not counted in official statistics (of which about 2.3 million** searched for work during the prior 12 months and were available for work during the reference week.)  6.4 million

Total: 26.0 million (16.1% of the labor force)

Source: http://www.bls.gov/news.release/pdf/empsit.pdf See also Current Employment Statistics–Highlights

**Not seasonally adjusted.
*See Uncommon Sense #4 for an explanation of the unemployment measures.

In addition, millions more were working full-time, year-round, yet earned less than the official poverty level for a family of four. In 2011, the latest year available, that number was 17.9 million, 17.6 percent of full-time, full-year workers (estimated from Current Population Survey, Bur. of the  Census, 9/2012).

“In February 2013, the latest month available, the number of job openings was 3.9 million, up from January. This was the highest number of job openings since May 2008. In February, the number of openings rose in health care and social assistance, accommodation and food services, and state and local government. The number of job openings increased in the Midwest region.” Job Openings and Labor Turnover Estimates, April 9, 2013.+

Thus there are now nearly 7 job-wanters for each available job

Private Payroll Employment Has Grown For 37 Months cbpp 4/13

http://www.offthechartsblog.org/

Employment-population ratio 1/1948 to 3/2013

http://www.cbpp.org/cms/index.cfm?fa=view&id=3252

 +“The number of job openings in February (not seasonally adjusted) was up over the year for total nonfarm and total private, and was little changed for government. Job openings increased over the year for construction, finance and insurance, accommodation and food services, and state and local government. The West region experienced an increase in job openings over the year.”

 

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