Employment: A New Report and Old Problems

Nonfarm U.S. payroll employment rose by 244,000 in April but there remain 13.7 million unemployed.  The unemployment rate rose from 8.8% to 9.0%, because the labor force increased.  Employment now stands 1.4 million jobs higher than this time last year, but on a base of almost 140 million employees, that’s just one percent – over […]

Consumer Spending Positive, but Job Picture Bleak — Unemployment Rises to 9.8%

A Washington Post article discusses the renewed strength of retail spending and housing data, citing the $1 billion of online sales during Cyber Monday.  However the latest Bureau of Labor Statistics provides a conflicting picture. After resting at 9.6% for the previous three months, the unemployment rate rose in November to 9.8%, according to the BLS employment […]

Unemployment Rate Unchanged at 9.6%

The Bureau of Labor Statistics just released it employment report for October 2010.  The unemployment rate was unchanged at 9.6%.  Nonfarm payroll employment increased by 151,000 in October, which is good, but still below a normal expansion.  So far, 874,000 jobs have been added since last December.  The increases were in the services industry, as the manufacturing industry tended […]

Unemployment Rate Fell? Well, Maybe …

There was (on the surface) good news from the BLS Employment Situation Report today — jobs fell by only 11,000 and the unemployment rate decreased from 10.2% to 10% from October to November.   That’s good news right?    Here is something that you won’t get from the news reports …. A closer look at the unemployment […]

Unemployment Rate Declined in July? Really?

The Bureau of Labor Statistics just released its report on employment, announcing that the unemployment rate declined from 9.5% in June to 9.4% in July.  News reports seem a little upbeat, but this is very premature.  If you look at the numbers, you will see that the labor force participation fell — meaning 544,000 people […]

BLS says that One-half Million More Jobs Lost in the Last Month … As Predicted, Economic Stimulus Package Will Do More Harm and Good

Six Months ago, I commented about the problems with the Economic Stimulus Package and how it would not provide any immediate benefit, be largely ineffective and create more long term costs than benefits.  The Bureau of Labor Statistics just released its latest employment situation report and showed that the economy lost nearly one-half million jobs […]