JULY 2017 Unemployment Data–the Full Count*
(U.S. BUREAU OF LABOR STATISTICS)
OFFICIAL UNEMPLOYMENT: 4.3%* [Analyses]
| White |
3.8%
|
| African American |
7.4%
|
| Hispanic |
5.1%
|
| Asian** |
3.8%
|
| Persons with a disability** |
9.6%
|
| Men 20 years and over |
4.0%
|
| Women 20 years and over |
4.0%
|
| Teens (16-19 years) |
13.2%
|
| Black teens |
23.3%
|
| Officially unemployed |
7.0 million
|
*If the LFPR were at its pre-recession level, the unemployment rate in July 2017 would have been % instead of 4.3%. [See “The Labor Force Participation Rate and Its Trajectory”]
HIDDEN UNEMPLOYMENT
| Working part-time because can’t find a full-time job: | 5.3 million |
| People who want jobs but are not looking so are not counted in official statistics (of which about 1.6 million** searched for work during the prior 12 months and were available for work during the reference week.) | 5.4 million |
Source: http://www.bls.gov/news.release/pdf/empsit.pdf See also Current Employment Statistics–Highlights For BLS State and area data, see Geographic Information and State Unemployment Summary. Also, EPI’s State unemployment rates by race and ethnicity.
**Not seasonally adjusted.
*See Uncommon Sense #4 for an explanation of the unemployment measures, and Is the Decline in the Labor Force Participation Rate During This Recession Permanent?.
In addition, millions more were working full-time, year-round, yet earned less than the official poverty level for a family of four. In 2015, that number was 17.4 million, 15.7 percent of full-time, full-year workers (estimated from Current Population Survey, Bur. of the Census, 8/2016). The poverty threshold in 2015 was $24,257 for a family of four.
In June 2017, the latest month available, the number of job openings was 6.2 million. Job Openings and Labor Turnover Summary, August 8, 2017. Thus there are 3 job-wanters for each available job.