{"id":5142,"date":"2015-11-28T15:30:31","date_gmt":"2015-11-28T15:30:31","guid":{"rendered":"http:\/\/njfac.org\/?page_id=5142"},"modified":"2017-05-13T01:49:59","modified_gmt":"2017-05-13T01:49:59","slug":"jobnews8-15","status":"publish","type":"page","link":"https:\/\/njfac.org\/index.php\/jobnews8-15\/","title":{"rendered":"August 2015"},"content":{"rendered":"

AUGUST 2015\u00a0Unemployment Data–the Full Count*<\/strong>
\n(U.S. BUREAU OF LABOR STATISTICS)<\/p>\n

OFFICIAL UNEMPLOYMENT:\u00a05.1%*<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
White<\/strong><\/td>\n\n

\u00a0\u00a0\u00a0 \u00a04.4%<\/strong><\/p>\n<\/td>\n<\/tr>\n

African American<\/strong><\/td>\n\n

9.5%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Hispanic<\/strong><\/td>\n\n

6.6%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Asian**<\/strong><\/td>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a03.5%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Persons with a disability**<\/strong><\/td>\n\n

\u00a0\u00a0\u00a010.2%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Men 20 years and over<\/strong><\/td>\n\n

4.7%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Women 20 years and over<\/strong><\/td>\n\n

4.7%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Teens (16-19 years)<\/strong><\/td>\n\n

16.9%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Black teens<\/strong><\/td>\n\n

31.3%<\/strong><\/p>\n<\/td>\n<\/tr>\n

Officially unemployed<\/strong><\/td>\n\n

8.0\u00a0million<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*If the LFPR were at its pre-recession level, the unemployment\u00a0rate in\u00a0August 2015 would have been 7.2%\u00a0\u00a0instead of\u00a05.1%<\/a>. [See “The Labor Force Participation Rate and Its Trajectory”<\/a>]
\n<\/strong>
\nHIDDEN UNEMPLOYMENT<\/strong><\/p>\n\n\n\n\n\n
Working part-time because can’t find a full-time job:<\/td>\n\n

6.5\u00a0million<\/strong><\/p>\n<\/td>\n<\/tr>\n

People who want jobs but\u00a0are not looking so\u00a0are not counted in official statistics (of which about 1.8 million** searched for work during the prior 12 months and were available for work during the reference week.)<\/td>\n\n

\u00a05.9 million<\/strong><\/p>\n<\/td>\n<\/tr>\n

Total: 20.4\u00a0million (12.5%\u00a0of the labor force)<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source:\u00a0http:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf<\/a>\u00a0See also\u00a0Current Employment Statistics–Highlights
\n<\/a>
\n**Not seasonally adjusted.
\n*See\u00a0Uncommon Sense #4<\/a><\/em>\u00a0for an explanation of the unemployment measures, and\u00a0Is the Decline in the Labor Force Participation Rate During This Recession Permanent?<\/em><\/a>.<\/p>\n

In addition, millions more were working full-time, year-round, yet earned less than the official poverty level for a family of four. In 2013, the latest year available, that number was 18.5 million, 17.5 percent of full-time, full-year workers (estimated from\u00a0Current Population Survey, Bur. of the\u00a0 Census, 9\/2014).<\/p>\n

Job Openings and Labor Turnover Summary<\/strong><\/a><\/p>\n

Unemployment Rate Vastly Understates Labor Market Weakness<\/a><\/strong>EPI<\/p>\n

Chartbook: The Legacy of the Great Recession<\/a><\/strong>\u00a0(CBPP)<\/p>\n

See BLS slides<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

AUGUST 2015\u00a0Unemployment Data–the Full Count* (U.S. BUREAU OF LABOR STATISTICS) OFFICIAL UNEMPLOYMENT:\u00a05.1%* White \u00a0\u00a0\u00a0 \u00a04.4% African American 9.5% Hispanic 6.6% Asian** \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a03.5% Persons with a disability** \u00a0\u00a0\u00a010.2% Men 20 years and over 4.7% Women 20 years and over 4.7% Teens (16-19 years) 16.9% Black teens 31.3% Officially unemployed 8.0\u00a0million *If the LFPR were at… Read More August 2015<\/span><\/a><\/p>\n","protected":false},"author":20,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5142","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/pages\/5142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/comments?post=5142"}],"version-history":[{"count":0,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/pages\/5142\/revisions"}],"wp:attachment":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/media?parent=5142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/categories?post=5142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/tags?post=5142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}