{"id":935,"date":"2014-01-13T02:10:42","date_gmt":"2014-01-13T02:10:42","guid":{"rendered":"http:\/\/njfac.org\/wpb\/?page_id=935"},"modified":"2016-12-11T02:44:07","modified_gmt":"2016-12-11T02:44:07","slug":"jobnews12-13","status":"publish","type":"page","link":"https:\/\/njfac.org\/index.php\/jobnews12-13\/","title":{"rendered":"December 2013"},"content":{"rendered":"

DECEMBER 2013 UNEMPLOYMENT DATA*<\/b>
\n(U.S.\u00a0BUREAU OF LABOR STATISTICS)<\/p>\n

OFFICIAL UNEMPLOYMENT:\u00a0<\/b>6.7%*<\/b>
\n<\/b>A year earlier, the number of unemployed persons was 12.0 million,
\nand the jobless rate was 7.8 percent. [BLS]<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
White<\/b><\/td>\n\n

\u00a0\u00a0\u00a0 \u00a05.9%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

11.9%<\/b><\/p>\n<\/td>\n<\/tr>\n

Hispanic<\/b><\/td>\n\n

8.3%<\/b><\/p>\n<\/td>\n<\/tr>\n

Asian**<\/b><\/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 4.1%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

\u00a0\u00a0\u00a0\u00a011.9%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

6.3%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

6.0%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

20.2%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

35.5%<\/b><\/p>\n<\/td>\n<\/tr>\n

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

10.4 million<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

*If the LFPR were at its pre-recession level, the unemployment rate in\u00a0September 2013 would have been 10.2% instead of 7.2%<\/a>. [See “The Labor Force Participation Rate and Its Trajectory”<\/a>]<\/b><\/p>\n

HIDDEN UNEMPLOYMENT<\/b><\/p>\n\n\n\n\n\n
Working part-time because can’t find a full-time job:<\/td>\n\u00a07.8<\/b>million<\/b><\/td>\n<\/tr>\n
People who want jobs but are not looking so are not counted in official statistics (of which about 2.4 million** searched for work during the prior 12 months and were available for work during the reference week.)<\/td>\n\u00a06.1 million<\/b><\/td>\n<\/tr>\n
\n

Total:<\/b>\u00a024.3 million (15.1% of the labor force)<\/b><\/p>\n<\/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><\/i>\u00a0for an explanation of the unemployment measures, and\u00a0Is the Decline in the Labor Force Participation Rate During This Recession Permanent<\/i>?<\/i><\/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 2012, the latest year available, that number was 18.0 million, 17.5 percent of full-time, full-year workers (estimated from\u00a0Current Population Survey, Bur. of the\u00a0 Census, 9\/2013).<\/a><\/p>\n

In October 2013, the latest month available, the number of job openings was 3.9 million<\/b>, “The number of openings<\/p>\n

was\u00a0little changed for total private and government. The number of job openings increased in arts, entertainment, and recreation and in the\u00a0Midwest\u00a0region and was little changed in the remaining industries and regions.”\u00a0Job Openings and Labor Turnover Summary<\/a>, December 10, 2013.+<\/p>\n

Thus there are about 6.25 job-wanters\u00a0for each available job.<\/p>\n

MISSING WORKERS:\u00a0<\/a>
\nTHE MISSING PART OF THE UNEMPLOYMENT STORY