The official unemployment rate fell to 8.2 percent in January. The broad unemployment rate (U-6) fell more sharply, to 14.5 percent. Both were the lowest since January 2009
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U.S. Jobs Report Shows Sharp Decrease in Broad Unemployment Index
1. Data for the Classroom from
Ed Dolan’s Econ Blog
http://dolanecon.blogspot.com/
US Jobs Data: Broad
.
Unemployment Rate Falls
Sharply in March
Posted April 6, 2012
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2. Payroll Job Growth Slows
Total payroll job growth for February
was a respectable 120,000.
The rate of government job loss
slowed to just 1,000 for the month
The previously reported February gain
was revised upward by 14,000 jobs;
January was revised down by 9,000
Job growth was widespread, with
manufacturing, health care, and food
services among the leaders
Posted April 6, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
3. Official Unemployment Rate Falls to 8.2 Percent
The official unemployment rate, which
is the ratio of unemployed persons to
the labor force, fell slightly to 8.2
percent, its lowest since February
2009
Surprisingly for this stage of the
business cycle, the labor force, the
number of employed, and the number
of unemployed all fell
The unemployment rate is based on a
household survey that does not
always closely track job growth as
reported by the payroll survey
Posted April 6, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
4. Broad vs. Standard Unemployment Rate
The BLS also provides a broader
measure of job-market stress, U-6
The numerator of U-6 includes
Unemployed persons
Marginally attached persons who
would like to work but are not looking
because they think there are no jobs
Part-time workers who would prefer
full-time work but can’t find it
The denominator includes the labor
force plus the marginally attached
U-6 fell sharply to 14.5 percent,
largely because of a decrease in
involuntary part-time work
Posted April 6, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
5. Employment-Population Ratio Falls Slightly
The employment to population ratio
fell slightly to 58.5 percent,
remaining only a little above its its
all-time low of July 2011
Recent changes come against a
longer-term downward trend caused,
in part, by a steady increase in the
percentage of the population of
retirement age
Posted April 6, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com