Data for the Classroom from
Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ U.S. Unemployment Situation for June 2011 Posted July 10, 2011 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.

Job Growth Slows Again in
June <ul><li>Total payroll jobs grew in June for the 9 th straight month, but the pace of job growth slowed to a crawl, at 18,000. The May number was revised downward from 54,000 to just 25,000 </li></ul><ul><li>An increase of 57,000 in private nonfarm jobs was offset by a 39,000 decrease in federal, state, and local government jobs. </li></ul><ul><li>A separate household survey that includes farm jobs and self-employment showed a decrease of 445,000 jobs </li></ul>Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Unemployment Rate Edges Up <ul><li>The
unemployment rate edged upward to 9.2 percent, its highest level since December 2010 </li></ul><ul><li>The number of unemployed persons increased by 173,000 </li></ul><ul><li>The labor force, which includes both employed and unemployed persons, decreased by 272,000 as discouraged workers stopped looking for jobs </li></ul><ul><li>The unemployment rate is the ratio of unemployed persons to the labor force </li></ul>Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Broad vs. Standard Unemployment Rate
<ul><li>The government also calculates a broader measure of unemployment called U-6 </li></ul><ul><li>The numerator includes </li></ul><ul><ul><li>Unemployed persons </li></ul></ul><ul><ul><li>Marginally attached persons who would like to work but are not working because they think there are no jobs </li></ul></ul><ul><ul><li>Persons working part time who would prefer full-time work but can’t find it </li></ul></ul><ul><li>The denominator includes the labor force plus the marginally attached </li></ul>Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Employment-Population Ratio Near Its Lowest
Point <ul><li>The employment to population ratio dropped to 52.8 percent, equaling the lowest levels reached during the recession </li></ul><ul><li>The long decline in the ratio reflects several factors </li></ul><ul><ul><li>Slow job growth </li></ul></ul><ul><ul><li>More discouraged workers, who do not look for jobs because they think none are available </li></ul></ul><ul><ul><li>More retired persons as the population ages </li></ul></ul>Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com