Job JOLTS - There are 3.7 Unemployed People Per Job Opening for April 2012

The BLS JOLTS, or Job Openings and Labor Turnover Survey reports a dismal and pathetic jobs market. The April 2012 statistics show there were 3.66 official unemployed persons for every position available^*. There were 3,416,000 job openings for April 2012, a -8.69% change from the previous month of 3,741,000. Openings are still way below pre-recession levels of 4.7 million. Job openings have increased 56% from their July 2009 trough, yet opportunities are miles away from the 1.8 persons per job opening ratio at the start of the recession, December 2007. Below is the graph of April official unemployed, 12.5 million, per job opening.

job openings per official unemployed

If one takes the official broader definition of unemployment, or U-6, the ratio becomes 6.65^** unemployed people per each job opening for February. The April U-6 unemployment rate was 14.5%. Below is the graph of number of unemployed, using the broader U-6 unemployment definition, per job opening.

BLS Employment Report is Abysmal - Only 69,000 Jobs!

The May 2012 BLS unemployment report is abysmal. Total nonfarm payroll jobs gained were only 69,000. April job gains were revised down, from 115,000 to only 77,000. March payrolls were also revised down, from 154,000 to 143,000. The below graph shows the monthly change in nonfarm payrolls employment.

BLS payrolls 05/12

May shows only 82,000 private sector jobs gained while government payrolls shrank another -13,000. In addition, 9,200 of those jobs were temporary.

Alternative Unemployment Rate is 16.6% and Other Scary Unemployment Statistics

April brings showers and yet another sad employment report. The new official unemployed tally is 12,500,000 with an unemployment rate of 8.1%. We calculate below an alternative unemployment rate of 16.62%, which shows 26.72 million people need a full-time, real job.

The Meager April 2012 115,000 Jobs Report Shows Lowest Labor Participation Rate Since 1981

The April 2012 monthly unemployment figures show the official unemployment rate dropped a 10th of a percentage point to 8.1% due to people dropping out of the labor force. Total nonfarm payroll jobs gained were 115,000. Total private jobs came in at 130,000, with 21,100 of those jobs being temporary. Government jobs dropped, -15,000. While manufacturing gained 16,000 jobs, transportation and warehousing dropped -16,600 jobs. It takes about 100,000 jobs each month just to keep up with population growth so this is a terrible report for the American worker.

unemployment rate

Job JOLTS - There are 3.66 Official Unemployed per Job Opening in February 2012

JOLTS stands for Job Openings and Labor Turnover Survey. The February 2012 statistics show there were 3.66 official unemployed people hunting for a job to every position available^*. There were 3,498,000 job openings for February 2012, an increase of 0.6%, from the previous month of 3,477,000. This is no change from January 2012 in actual job openings. Job openings have increased 60% from their July 2009 trough. Yet opportunities are still way below the 1.8 persons per job opening at the start of the recession, December 2007. Below is the graph of February official unemployed, 12.806 million, per job opening.

jolts u3 02/12

Unemployment 8.2%, 120,000 Jobs for March 2012

The March 2012 monthly unemployment figures show the official unemployment rate dropped a 10th of a percentage point to 8.2%, and the total nonfarm payroll jobs gained was 120,000. These statistics are not the blow out most were hoping for. Total private jobs came in at 121,000. Government jobs dropped, -1,000. While manufacturing gained 37,000 jobs, retail trade, a category that includes retail sales clerks, dropped -33,800 jobs.

unemployment rate

The Bloom Comes Off the Unemployment Report Rose

Pundits and press love to gush over the employment report the minute they see proof of life Yet, things are still not rosy. The new official unemployed tally is 12,806,000. The average length of unemployment is still very high, 40.0 weeks, even while dropping a 10th of a percentage point from last month.

Why Did the Unemployment Rate Remain the Same when 227,000 Jobs were Added?

The headlines blare unemployment rate remains the same! Yet February added 227,000 jobs, and January was revised upward to 284,000 jobs. So, how could the official unemployment rate not budge when in two months over half a million jobs, 511,000, were added?

Unemployment 8.3%, 227,000 Jobs for February 2012

The February 2012 monthly unemployment figures show the official unemployment rate remained the same, 8.3%, and the total jobs gained were 227,000. While this report is good news, we've got a long, long way to go before returning to a healthy labor market. Total private jobs came in at 233,000. Government jobs dropped, -6,000. Most of the jobs were in the service sector, 209,000.

Job JOLTS - There are 3.88 Official Unemployed Per Job Opening in December 2011

JOLTS stands for Job Openings and Labor Turnover Survey. The December 2011 statistics show there were 3.88 official unemployed people hunting for a job to every position available^*. There were 3,376,000 job openings for December 2011, an increase of 8.27%, from the previous month of 3,118,000. This is a marked improvement from last month. While job openings have increased 60% from their June 2009 trough, jobs are still way below the 1.19 person per job opening at the start of the recession. Below is the graph of number of official unemployed, 13.097 million, per job opening for December 2011.

jolts u3 12/11

bls