Data for the Classroom from
Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ . US Labor Market Data: Job Growth Moderate Unemployment Steady in September Posted Oct 8, 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.

US Shows Moderate Payroll Job
Growth in September <ul><li>Private payroll job growth for September was 103,000, the best in 5 months, but still very moderate </li></ul><ul><li>The increase for August, previously estimated to be zero, was revised up to 57,000 </li></ul><ul><li>Service jobs provided nearly all gains. Producers of goods added 18,000 jobs but government lost another 34,000, continuing a steady decline </li></ul><ul><li>A separate household survey that includes farm jobs and self-employment showed an increase of 398,000 </li></ul>Posted Oct 8, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Unemployment Rate Unchanged in September
<ul><li>The labor force, which includes both employed and unemployed persons, grew by 423,000 </li></ul><ul><li>Of these 398,000 found jobs and 25,000 were added to the officially unemployed as soon as they started looking for work </li></ul><ul><li>The unemployment rate, which is the ratio of unemployed persons to the labor force, remained unchanged at 9.1 percent for the third month in a row </li></ul>Posted Oct. 8, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Broad vs. Standard Unemployment Rate
<ul><li>There is also a broader measure of unemployment called U-6 </li></ul><ul><li>The numerator of U-6 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 looking because they think there are no jobs </li></ul></ul><ul><ul><li>Part-time workers 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><ul><li>More marginally attached workers caused U-6 to rise in September, as it has for 5 of the past 6 months </li></ul>Posted Oct. 8, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

Employment-Population Ratio Little Changed <ul><li>The
employment to population ratio ticked up to 58.3 percent, still only slightly above the all-time low reached in July </li></ul><ul><li>The long-term decrease in this 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 Oct. 8, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com