Pronk Pops Show 19: March 8, 2010: Segment 2, Gallup–U.S. Unemployment Hits 10.3% In February 2011 Vs. Bureau of Labor Statistics (BLS) U.S. Unemployment Rate Declined By .1% To 8.9% in February 2011 With Job Creation of 192,000 In February 2011–Over 13.7 Million Americans Unemployed More Than Worse Month of Great Depression!– Videos

Posted on March 8, 2011. Filed under: American History, Budgetary Policy, Economics, Education, Federal Government, Fiscal Policy, Government, Government Spending, History, Labor Economics, Monetary Policy, Politics, Radio, Tax Policy, Unions, Videos, Wisdom | Tags: , , , , , , , , , , |



Pronk Pops Show 19: March 8, 2011

Listen To Pronk Pops Podcast or Download Shows 16-19

Listen To Pronk  Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 

Gallup Finds U.S. Unemployment Hitting 10.3% in February

“…Unemployment, as measured by Gallup without seasonal adjustment, hit 10.3% in February — up from 9.8% at the end of January. The U.S. unemployment rate is now essentially the same as the 10.4% at the end of February 2010. …”

http://www.gallup.com/poll/146453/Gallup-Finds-Unemployment-Hitting-February.aspx

US Unemployment Drops to 8.9 Percent

Adecco Group’s workplace economy – March 2011

 

US unemployment rate drops to 8.9% – Press TV News

 

Peter Schiff Video Blog – March 4, 2011

Payrolls Rose 192,000; Jobless Rate at 8.9% in February

 

Silvia Says Unemployment, Inflation Will Challenge Fed

 

Maki Sees U.S. Unemployment Rate Below 8.5% by Year End

 

Pre-Market Movers: March 4th, 2011

 

Gross Says Inflation Matters More Than Bernanke Suggests

The progressive radical socialist economic policies of the Obama Administration and the Democratic Party have utterly failed in the creation of new jobs and wealth resulting in the continuation of the Great Recession soon to become the Obama Depression.

Comparing the first full month that Obama was President two years latter paints a picture of the big fail.

In February 2009 the employment level in the United States was approximately 141.6 million.

In February 2011 the employment level in the United States was approximately 139.5 million.

Two years of the Obama Administration has resulted in the decline of the employment level of approximately 2.1million.

In February 2009 the civilian level force in the United States was approximately 154.4 million.

In February 2011 the employment level in the United States was approximately 153.2 million.

Two years of the Obama Administration has resulted in the decline of the civilian labor force of approximately 1.2 million.

In February 2009 the labor force participation rate in the United States was approximately 65.7%.

In February 2011 the labor force participation rate in the United States was approximately 64.2%

Two years of the Obama Administration has resulted in the decline of the labor force participation rate of 1.5%.

In February 2009 the unemployment level in the United States was approximately 12.7 million.

In February 2011 the unemployment level in the United States was approximately 13.6 million.

Two years of the Obama Administration has resulted in the increase of the unemployment level of approximately .9 million.

In February 2009 the official unemployment rate (U-3) in the United States was approximately 8.2%.

In February 2011 the official unemployment rate (U-3) in the United States was approximately 8.9%.

Two years of the Obama Administration has resulted in the increase of the official unemployment rate (U-3) of approximately .7%.

In February 2009 the total unemployment rate (U-6) in the United States was approximately 15.0%.

In February 2011 the total unemployment rate (U-6) in the United States was approximately 15.9%.

Two years of the Obama Administration has resulted in the increase of the total unemployment rate (U-6) of approximately .9%.

The actual unemployment rate which would include long-term discourage workers that are excluded by the BLS unemployment U-6 series is now over 20%  with over 30 million Americans that are either unemployed or underemployed.

The Great Recession is fast becoming the Obama Depression and no amount of political manipulation of the unemployment statistics will persuade the American people otherwise.

“…The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment. …”

http://www.shadowstats.com/alternate_data/unemployment-charts

Background Articles and Videos

John Williams Hyperinflation to come in the next couple months

Ecconomist John Williams of Shadow Statistics on Radio Liberty 12-29-10

 

Bureau of Labor Statistics, Department of Labor

http://data.bls.gov/pdq/SurveyOutputServlet

 

Employment Level

Labor Force Statistics from the Current Population Survey

Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed Age: 16 years and over
Type of data: Number in thousands


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146033(1) 146066 146334 145610 145901 146058 145886 145670 146231 145937 146584 146272
2008 146407(1) 146183 146143 146173 145925 145725 145479 145167 145056 144778 144068 143324
2009 142201(1) 141687 140822 140720 140292 139978 139794 139409 138791 138393 138590 137960
2010 138511(1) 138698 138952 139382 139353 139092 138991 139267 139378 139084 138909 139206
2011 139323(1) 139573
1 : Data affected by changes in population controls.

 

Civilian Labor Force

Series Id: LNS11000000
Seasonally Adjusted
Series title: (Seas) Civilian Labor Force Level
Labor force status: Civilian labor force
Type of data: Number in thousands
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153133(1) 152966 153054 152446 152666 153038 153035 152756 153422 153209 153845 153936
2008 154060(1) 153624 153924 153779 154322 154315 154432 154656 154613 154953 154621 154669
2009 154185(1) 154424 154100 154453 154805 154754 154457 154362 153940 154022 153795 153172
2010 153353(1) 153558 153895 154520 154237 153684 153628 154117 154124 153960 153950 153690
2011 153186(1) 153246
1 : Data affected by changes in population controls.

Unemployment Level (U-3)

Series Id:           LNS13000000 Seasonally Adjusted Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7100 6900 6721 6836 6766 6980 7149 7085 7191 7272 7261 7664
2008 7653 7441 7781 7606 8398 8590 8953 9489 9557 10176 10552 11344
2009 11984 12737 13278 13734 14512 14776 14663 14953 15149 15628 15206 15212
2010 14842 14860 14943 15138 14884 14593 14637 14849 14746 14876 15041 14485
2011 13863 13673

 

 

Labor Force Participation Rate

Series Id:           LNS11300000 Seasonally Adjusted Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.0 66.1 66.0 66.0 65.8 65.8
2009 65.7 65.7 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.1 65.0 64.7
2010 64.8 64.8 64.9 65.1 64.9 64.7 64.6 64.7 64.7 64.5 64.5 64.3
2011 64.2 64.2

Unemployment Level

Series Id: LNS13000000
Seasonally Adjusted
Series title: (Seas) Unemployment Level
Labor force status: Unemployed
Type of data: Number in thousands
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7100 6900 6721 6836 6766 6980 7149 7085 7191 7272 7261 7664
2008 7653 7441 7781 7606 8398 8590 8953 9489 9557 10176 10552 11344
2009 11984 12737 13278 13734 14512 14776 14663 14953 15149 15628 15206 15212
2010 14842 14860 14943 15138 14884 14593 14637 14849 14746 14876 15041 14485
2011 13863 13673

Unemployment Rate (U-6)

Series Id: LNS14000000
Seasonally Adjusted
Series title: (Seas) Unemployment Rate
Labor force status: Unemployment rate
Type of data: Percent or rate
Age: 16 years and over


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.1 8.0 8.2 8.2 8.3 8.4 8.5 8.4 8.4 8.5 8.8
2008 9.1 8.9 9.0 9.2 9.7 10.1 10.5 10.9 11.2 11.9 12.7 13.6
2009 14.1 15.0 15.6 15.8 16.4 16.6 16.5 16.8 17.0 17.4 17.1 17.2
2010 16.5 16.8 16.8 17.0 16.5 16.5 16.5 16.7 17.1 17.0 17.0 16.7
2011 16.1 15.9

Employment Situation Summary

Transmission of material in this release is embargoed USDL-11-0271 until 8:30 a.m. (EST) Friday, March 4, 2011 Technical information: Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces Media contact: (202) 691-5902 * PressOffice@bls.gov THE EMPLOYMENT SITUATION -- FEBRUARY 2011 Nonfarm payroll employment increased by 192,000 in February, and the unemployment
rate was little changed at 8.9 percent, the U.S. Bureau of Labor Statistics re- ported today. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing. Household Survey Data The number of unemployed persons (13.7 million) and the unemployment rate (8.9 percent) changed little in February. The labor force was about unchanged over the month. The jobless rate was down by 0.9 percentage point since November 2010. (See table A-1.) Among the major worker groups, the unemployment rates for adult men (8.7 percent), adult women (8.0 percent), teenagers (23.9 percent), whites (8.0 percent), blacks (15.3 percent), and Hispanics (11.6 percent) showed little or no change in February. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.) The number of job losers and persons who completed temporary jobs, at 8.3 million, continued to trend down in February and has fallen by 1.2 million over the past 12 months. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.0 million and accounted for 43.9 percent of the unemployed. (See tables A-11 and A-12.) Both the civilian labor force participation rate, at 64.2 percent, and the employ- ment-population ratio, at 58.4 percent, were unchanged in February. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 8.3 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.) In February, 2.7 million persons were marginally attached to the labor force, up
from 2.5 million a year earlier. (These data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work, and
had looked for a job sometime in the prior 12 months. They were not counted as
unemployed because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)

Among the marginally attached, there were 1.0 million discouraged workers in February,
a decrease of 184,000 from a year earlier. (These data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe no
jobs are available for them. The remaining 1.7 million persons marginally attached to the labor force in February had not searched for work in the 4 weeks preceding the sur- vey for reasons such as school attendance or family responsibilities. (See table A-16.) Establishment Survey Data Total nonfarm payroll employment rose by 192,000 in February. Job gains occurred in manufacturing, construction, and several service-providing industries. Since a recent low in February 2010, total payroll employment has grown by 1.3 million, or an average of 106,000 per month. (See table B-1.) Manufacturing employment rose by 33,000 in February. Almost all of the gain occurred in durable goods industries, including machinery (+9,000) and fabricated metal pro- ducts (+7,000). Manufacturing has added 195,000 jobs since its most recent trough in December 2009; durable goods manufacturing added 233,000 jobs during this period. Construction employment grew by 33,000 in February, following a decline of 22,000 in January that may have reflected severe winter weather. Within construction, specialty trade contractors accounted for the bulk of the February job gain (+28,000). Employment in the service-providing sector continued to expand in February, led by a gain of 47,000 in professional and business services. Employment services added 29,000 jobs, and employment rose by 7,000 in management and technical consulting. Within employment services, the number of jobs in temporary help services edged up over the month. Health care employment continued to increase in February (+34,000). Over the prior 12 months, health care had added 260,000 jobs, or an average of 22,000 jobs per month. Transportation and warehousing employment increased by 22,000 in February, with half of that gain in truck transportation (+11,000). Employment in both state and local government edged down over the month. Local govern- ment has lost 377,000 jobs since its peak in September 2008. The average workweek for all employees on private nonfarm payrolls was unchanged at 34.2 hours in February. The manufacturing workweek for all employees rose by 0.1 hour to 40.5 hours, while factory overtime rose by 0.2 hour to 3.3 hours. The average work- week for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.5 hours. (See tables B-2 and B-7.) In February, average hourly earnings for all employees on private nonfarm payrolls increased by 1 cent to $22.87. Over the past 12 months, average hourly earnings have increased by 1.7 percent. In February, average hourly earnings of private-sector pro- duction and nonsupervisory employees were unchanged at $19.33. (See tables B-3 and B-8.) The change in total nonfarm payroll employment for December was revised from +121,000 to +152,000, and the change for January was revised from +36,000 to +63,000. ___________ The Employment Situation for March is scheduled to be released on Friday, April 1, 2011, at 8:30 a.m. (EDT).


Phillips Curve

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