{"id":5196,"date":"2015-11-28T15:45:33","date_gmt":"2015-11-28T15:45:33","guid":{"rendered":"http:\/\/njfac.org\/?page_id=5196"},"modified":"2017-04-07T16:28:41","modified_gmt":"2017-04-07T16:28:41","slug":"jobnews10-15","status":"publish","type":"page","link":"https:\/\/njfac.org\/index.php\/jobnews10-15\/","title":{"rendered":"October 2015"},"content":{"rendered":"

OCTOBER 2015<\/span> Unemployment Data–the Full Count*
\n<\/b>(U.S. BUREAU OF LABOR STATISTICS)<\/p>\n

OFFICIAL UNEMPLOYMENT: <\/strong>5.0<\/strong><\/span>%<\/strong>*\u00a0<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
White<\/strong><\/td>\n\n
\u00a0\u00a0\u00a0 \u00a0<\/strong>4.4<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
African American<\/strong><\/td>\n\n
9.2<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Hispanic<\/strong><\/td>\n\n
6.3<\/span><\/strong>%<\/strong><\/div>\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 3.5<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Persons with a disability**<\/strong><\/td>\n\n
\u00a0\u00a0\u00a010<\/strong>.5<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Men 20 years and over<\/strong><\/td>\n\n
4.7<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Women 20 years and over<\/strong><\/td>\n\n
4.5<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Teens (16-19 years)<\/strong><\/td>\n\n
15.9<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Black teens<\/strong><\/td>\n\n
25.6<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Officially unemployed<\/strong><\/td>\n\n
7.9<\/span> million<\/strong><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*If the LFPR were at its pre-recession level, the unemployment rate in October 2015 would have been 7.1% <\/span>\u00a0instead of 5.0<\/span>%<\/a>. [See “The Labor Force Participation Rate and Its Trajectory”<\/a>]<\/strong><\/p>\n

HIDDEN UNEMPLOYMENT<\/b><\/p>\n\n\n\n\n\n
Working part-time because can’t find a full-time job:<\/td>\n5.8<\/span><\/strong> million<\/strong><\/td>\n<\/tr>\n
People who want jobs but are not looking so are not counted in official statistics (of which about 1.9 million** searched for work during the prior 12 months and were available for work during the reference week.)<\/td>\n\u00a06.1 million<\/strong><\/td>\n<\/tr>\n
Total: 19.8<\/span> million (12.1<\/span>%<\/strong> of the labor force)<\/strong><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: http:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf<\/a> See also Current Employment Statistics–Highlights
\n<\/a>
\n**Not seasonally adjusted.
\n*See Uncommon Sense #4<\/a><\/i> for an explanation of the unemployment measures, and Is 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 Current 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> (CBPP)<\/span><\/p>\n

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

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

OCTOBER 2015 Unemployment Data–the Full Count* (U.S. BUREAU OF LABOR STATISTICS) OFFICIAL UNEMPLOYMENT: 5.0%*\u00a0 White \u00a0\u00a0\u00a0 \u00a04.4% African American 9.2% Hispanic 6.3% 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 3.5% Persons with a disability** \u00a0\u00a0\u00a010.5% Men 20 years and over 4.7% Women 20 years and over 4.5% Teens (16-19 years) 15.9% Black teens 25.6% Officially unemployed 7.9 million *If… Read More October 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-5196","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/pages\/5196","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=5196"}],"version-history":[{"count":0,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/pages\/5196\/revisions"}],"wp:attachment":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/media?parent=5196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/categories?post=5196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/tags?post=5196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}