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

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