JANUARY 2010 UNEMPLOYMENT DATA*
(U.S. BUREAU OF LABOR STATISTICS)
OFFICIAL UNEMPLOYMENT: 9.7% A year earlier, the number of unemployed persons was 11.9 million, and the jobless rate was 7.7 percent. [BLS]
| White |
8.7% |
| African American |
16.5% |
| Hispanic |
12.6% |
| Asian** | 8.4% |
| Persons with a disability ** |
15.2% |
| Men 20 years and over |
10.0% |
| Women 20 years and over |
7.9% |
| Teen-agers (16-19 years) |
26.4% |
| Black teens |
43.8% |
| Officially unemployed |
14.8 million |
HIDDEN UNEMPLOYMENT
| Working part-time because can’t find a full-time job: | 8.3 million |
| People who want jobs but are not looking so are not counted in official statistics (of which about 2.5 million** searched for work during the prior 12 months and were available for work during the reference week.) | 6.0 million |
|
Total: 29.1 million (18.3% of the labor force) |
|
Source: http://www.bls.gov/news.release/pdf/empsit.pdf
**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 2008, the latest year available, that number was 17.8 million, 17.1 percent of full-time, full-year workers (estimated from Current Population Survey, Bur. of the Census, 2009).
In November, 2009, the latest month available, the number of job openings was only 2.4 million, according to the BLS, Job Openings and Turnover Estimates, January 12, 2010.+ Thus there are more than 12 job-wanters for each available job.[Numbers are not comparable with previous months as methods have been revised.]
Comparing Long-Term Unemployment: 1999-2009
MONTHLY NET CHANGE IN NON-FARM EMPLOYMENT, 12/07-9/09
Source: http://www.bls.gov/ces/ Change in Payroll Employment, Historical Data
Mass layoffs: “Employers took 1,726 mass layoff actions in December that resulted in the separation of 153,127 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single employer. The number of mass layoff events in December decreased by 87 from the prior month, and the number of associated initial claims decreased by 10,696. Both figures reached their lowest level since July 2008. In December, 433 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 44,072 initial claims. Both figures decreased over the month to their lowest levels since November and August 2007, respectively.
….
REVIEW OF 2009 For all of 2009, on a not seasonally adjusted basis, the total numbers of mass layoff events, at 28,030, and initial claims, at 2,796,456, reached their highest annual levels on record. Among the 19 major industry sectors in the private economy, manufacturing had the most initial claims in 2009 (1,137,106), followed by administrative and waste services (294,709) and construction (205,765). Manufacturing also had the largest over-the-year increase in total annual initial claims (+266,796), with retail trade (+57,283) and administrative and waste services (+48,039) experiencing the next largest increases. Among the major industry sectors, 12 registered series highs for both mass layoff events and initial claims in 2009: mining; construction; wholesale trade; retail trade; transportation and warehousing; finance and insurance; real estate and rental and leasing; management of companies and enterprises; administrative and waste services; health care and social assistance; arts, entertainment, and recreation; and accommodation and food services.
….
Among the 4 census regions, the Midwest reported the highest number of mass layoff initial claims filed during 2009 (892,202), followed by the West and the South. All 4 regions experienced over-the-year annual increases, with the largest increases taking place in the Midwest (+215,611). The Midwest, Northeast, and South also reached program highs for total initial claims in 2009. ….” (BLS, January 27, 2010)
Source: http://www.epi.org/publication/snapshot_20090701/
+“Over the 12 months ending in November, the job openings rate (not seasonally adjusted) decreased for total nonfarm and total private. Although the rate was essentially unchanged for government, it increased in federal government and decreased in state and local government. The job openings rate decreased in many industries: mining and logging; retail trade; transportation, warehousing, and utilities; real estate and rental and leasing; educational services; health care and social assistance; and other services. The job openings rate decreased in the South.”