Unemployment Data – May 2018

MAY 2018 Unemployment Data–the Full Count

(U.S. BUREAU OF LABOR STATISTICS)

OFFICIAL UNEMPLOYMENT: 3.8%* [Analyses]

White
     3.5%
African American
5.9%
Hispanic
4.9%
Asian**
           2.1%
Persons with a disability**
  7.0%
Men 20 years and over
3.5%
Women 20 years and over
3.3%
Teens (16-19 years)
12.8%
Black teens
19.8%
Officially unemployed
6.1 million

HIDDEN UNEMPLOYMENT

Working part-time because can’t find a full-time job: 4.9 million
People who want jobs but are not looking so are not counted in official statistics (of which about 1.5 million** searched for work during the prior 12 months and were available for work during the reference week.) 5.2 million
Total: 16.2 million (9.7% of the labor force)

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.

**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 April 2018, the latest month available, the number of job openings was 6.7 million. Job Openings and Labor Turnover Summary, June 5, 2018.  Thus there are 2.4 job-wanters for each available job.