{"id":5528,"date":"2016-01-08T20:14:11","date_gmt":"2016-01-08T20:14:11","guid":{"rendered":"http:\/\/njfac.org\/?p=5528"},"modified":"2016-12-11T02:44:06","modified_gmt":"2016-12-11T02:44:06","slug":"unemployment-data-december-2015","status":"publish","type":"post","link":"https:\/\/njfac.org\/index.php\/2016\/01\/08\/unemployment-data-december-2015\/","title":{"rendered":"Unemployment Data – December 2015"},"content":{"rendered":"

DECEMBER 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>*<\/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>4.5<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
African American<\/strong><\/td>\n\n
8.3<\/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 4.0<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Persons with a disability**<\/strong><\/td>\n\n
\u00a0\u00a0\u00a010<\/strong>.3<\/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
4.4<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Teens (16-19 years)<\/strong><\/td>\n\n
16.1<\/span>%<\/strong><\/div>\n<\/td>\n<\/tr>\n
Black teens<\/strong><\/td>\n\n
23.7<\/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 December 2015 would have been 6.7% <\/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>\n6.0<\/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 1.8 million** searched for work during the prior 12 months and were available for work during the reference week.)<\/td>\n5.9 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 2014,\u00a0 that number was 19.3 million, 17.7 percent of full-time, full-year workers (estimated from Current Population Survey, Bur. of the\u00a0 Census, 9\/2015)<\/a>.<\/p>\n

In October 2015, the latest month available, the number of job openings was 5.4 million. <\/strong>Job Openings and Labor Turnover Summary<\/a>, <\/strong>December 8, 2015.\u00a0\u00a0<\/strong>Thus there are approximately\u00a03.7 job-wanters\u00a0for each available job.<\/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","protected":false},"excerpt":{"rendered":"

DECEMBER 2015 Unemployment Data–the Full Count* (U.S. BUREAU OF LABOR STATISTICS) OFFICIAL UNEMPLOYMENT: 5.0%* White \u00a0\u00a0\u00a0 \u00a04.5% African American 8.3% 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 4.0% Persons with a disability** \u00a0\u00a0\u00a010.3% Men 20 years and over 4.7% Women 20 years and over 4.4% Teens (16-19 years) 16.1% Black teens 23.7% Officially unemployed 7.9 million *If… Read More Unemployment Data – December 2015<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[42,49,1,33,34],"tags":[],"class_list":["post-5528","post","type-post","status-publish","format-standard","hentry","category-archive-of-monthly-unemployment-data","category-current-rate","category-uncategorized","category-unemployment","category-unemployment-data"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/posts\/5528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/comments?post=5528"}],"version-history":[{"count":0,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/posts\/5528\/revisions"}],"wp:attachment":[{"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/media?parent=5528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/categories?post=5528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/njfac.org\/index.php\/wp-json\/wp\/v2\/tags?post=5528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}