US Jobs Data: Strong January Report Contiues Upward Trend

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US economy added 243,000 payroll jobs in January, and the previous two months' gains were revised upward, continuing a stronger trend

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US Jobs Data: Strong January Report Contiues Upward Trend

  1. Data for the Classroom from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ .US Employment Data: January Report and Upward Revisions Maintain Stronger Trend Posted Feb. 3, 2012 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. Posted Feb. 3, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com Payroll Jobs Grow Strongly in January  Total payroll job growth for January was a stronger 243,000, including 257,000 in the private sector  The preliminary estimates are subject to revision. The Dec. figure was revised up to 203,000 from 200,000 and Nov. from 100,000 to 157,000  Both goods producing and service jobs gained, but government lost 14,000 jobs at all levels  A separate household survey reported 847,000 new jobs, including farm jobs and self-employment
  3. Posted Feb. 3, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com Unemployment Rate Lowest in almost Three Years  The unemployment rate, which is the ratio of unemployed persons to the labor force, dropped to 8.3 percent, its lowest since February 2009  The decrease in the unemployment rate came partly from an increase in the labor force and partly from a decrease in the number of unemployed workers  Starting in January, the population basis was shifted from the 2000 census to the 2010 census. However, the shift did not affect the unemployment rate
  4. Posted Feb. 3, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com 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 slightly in January to 15.1 percent, continuing a downward trend
  5. Posted Feb. 3, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com Employment-Population Ratio Continues Slow Rise  The employment to population ratio was unchanged at 58.5 percent, up from its all-time low of July 2011  The ratio would have been 0.3 percent higher without the shift in population basis from the 2000 to the 2010 census  The long-term downward trend in this ratio reflects several factors  Slow job growth  More discouraged workers, who do not look for jobs because they think none are available  More retired persons as the population ages
  6. Posted Feb. 3, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com Employment-Population Ratio Continues Slow Rise  The employment to population ratio was unchanged at 58.5 percent, up from its all-time low of July 2011  The ratio would have been 0.3 percent higher without the shift in population basis from the 2000 to the 2010 census  The long-term downward trend in this ratio reflects several factors  Slow job growth  More discouraged workers, who do not look for jobs because they think none are available  More retired persons as the population ages

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