US Economy Adds 157,000 Jobs in January

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The US economy added 157,000 payroll jobs in January. Job gains for 2012 were revised up by 324,000

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US Economy Adds 157,000 Jobs in January

  1. Data for the Classroom from Ed Dolan’s Econ Bloghttp://dolanecon.blogspot.com/US Economy Adds 157,000 Payroll Jobs in January Posted Feb. 2, 2013 Terms of Use: These slides are made available under Creative Commons License Attribution— Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics, from BVT Publishers.
  2. Economy adds 157,000 Payroll Jobs in January The latest report from the Bureau of Labor Statistics showed an increase of 157,000 payroll jobs in January The private sector added 157,000 jobs while government lost 9,000, continuing a long trend toward shrinking government employment Construction accounted for most of the increase in goods-producing jobs, while retail trade and healthcare services were the fastest growing service categories Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  3. 2012 Jobs Total Revised Upward The BLS also released revised data on 2012 payroll jobs, based on a new set of annual benchmarks The revisions showed that 324,000 more jobs were created in the year than previously reported Revisions for the third quarter were especially strong Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  4. Unemployment Rate Ticks Up to 7.9 Percent The unemployment rate rose slightly to 7.9 percent, returning to its October value The unemployment rate is the ratio of unemployed persons to the labor force. The labor force increased by 156,000 for the month. The number of employed workers rose by 143,000 and the number of unemployed workers by 12,000 The unemployment rate is based on a separate survey of households that includes self-employed and farm workers Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  5. 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, or for personal reasons  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 remained unchanged at 14.4 percent in January Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  6. Long-term Unemployment Falls to Lowest Since 2010 The recession and slow recovery have been characterized by unusually high levels of long-term unemployment, but the rate has begun to fall The percentage of the unemployed out of work for 27 weeks or more decreased to 38.1 percent in January, the lowest rate since October 2010 The mean duration of unemployment fell to 35.3 weeks and the median duration to 16 weeks Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  7. Long-term Unemployment Falls to Lowest Since 2010 The recession and slow recovery have been characterized by unusually high levels of long-term unemployment, but the rate has begun to fall The percentage of the unemployed out of work for 27 weeks or more decreased to 38.1 percent in January, the lowest rate since October 2010 The mean duration of unemployment fell to 35.3 weeks and the median duration to 16 weeks Posted Feb. 2, 2013 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

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