Author Topic: Everything You Need to Know About December Labor Stats  (Read 685 times)

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Online mystery-ak

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Everything You Need to Know About December Labor Stats
« on: January 05, 2013, 10:16:26 AM »
http://finance.townhall.com/columnists/mikeshedlock/2013/01/05/everything-you-need-to-know-about-december-labor-stats-n1479462/print


Everything You Need to Know About December Labor Stats
By Mike Shedlock
1/5/2013
 

Initial Reaction

The establishment survey report of +155,000 jobs was about what most expected.

However, beneath the surface, this report looks weak.

The household survey shows a gain of a mere 28,000 jobs. The unemployment rate stayed the same although the number of people unemployed rose by 164,000.

December BLS Jobs Report at a Glance

    Payrolls +155,000 - Establishment Survey
    US Employment +28,000 - Household Survey
    Involuntary Part-Time Work -220,000 - Household Survey
    Baseline Unemployment Rate +.00 at 7.8% - Household Survey
    U-6 unemployment +.00 to 14.4% - Household Survey
    The Civilian Labor Force +192,000 - Household Survey
    Not in Labor Force  -16,000 - Household Survey
    Participation Rate +.00 to 63.6 - Household Survey



Recall that the unemployment rate varies in accordance with the Household Survey not the reported headline jobs number, and not in accordance with the weekly claims data.

Quick Notes About the Unemployment Rate

    Last month it was reported the US unemployment rate fell -.2 to 7.7%
    This month the unemployment rate was reported flat at 7.8% (so last month was revised up)
    In the last year, those "not" in the labor force rose by 2,199,000
    Over the course of the last year, the number of people employed rose by 2,436,000
    Long-Term unemployment (27 weeks and over) was 4,766,000 a decline of 16,000
    Ratio of long-term unemployment to overall unemployment is 39.1%. Once someone loses a job it is still very difficult to find another.



much more at link

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Online Oceander

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Re: Everything You Need to Know About December Labor Stats
« Reply #1 on: January 05, 2013, 11:20:02 AM »
So, how much of what turns out to be the actual new hiring is going to be attributed to the federal government?

Online massadvj

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Re: Everything You Need to Know About December Labor Stats
« Reply #2 on: January 05, 2013, 11:29:56 AM »
It's especially hard for someone who is unemployed to find another job when his unemployment benefits extend for 150 weeks. 
"She only coughs when she lies."


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