Archive for March 7th, 2014

The Pronk Pops Show 224, March 7, 2014, Story 1: Unemployment Rate Increases To 6.7% With Labor Participation Rate of 63.0% — More Than 10.5 Million Americans Unemployed! — Videos

Posted on March 7, 2014. Filed under: American History, Blogroll, Constitutional Law, Economics, Employment, Federal Government, Government, Government Dependency, History, Investments, Law, Media, Networking, Philosophy, Photos, Politics, Public Sector Unions, Social Science, Technology, Unemployment, Unions, Videos, War, Wealth | Tags: , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 224: March 7, 2014

Pronk Pops Show 223: March 6, 2014

Pronk Pops Show 222: March 3, 2014

Pronk Pops Show 221: February 28, 2014

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Pronk Pops Show 178: December 5, 2013

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February jobs report: More hires but unemployment rate rises

March 7, 2014 -Business News – Financial News – Stock News -NYSE -Market News 2014

U.S. unemployment will stay at 6.6% – Hunter

Employment Situation Summary

Transmission of material in this release is embargoed             USDL-14-0354
until 8:30 a.m. (EST) Friday, March 7, 2014

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 2014

Total nonfarm payroll employment increased by 175,000 in February, and the 
unemployment rate was little changed at 6.7 percent, the U.S. Bureau of 
Labor Statistics reported today. Employment increased in professional and 
business services and in wholesale trade but declined in information. 

   ------------------------------------------------------------------
  |                                                                  |
  |         Effect of Winter Storms on Employment Estimates          |
  |                                                                  |
  | Severe winter weather occurred in much of the country during the |
  | February reference periods for the establishment and household   |
  | surveys. For information on how weather can affect employment    |
  | and hours data, see Question 8 in the Frequently Asked Questions |
  | section of this release.                                         |
   ------------------------------------------------------------------

Household Survey Data

Both the number of unemployed persons (10.5 million) and the unemployment 
rate (6.7 percent) changed little in February. The jobless rate has shown 
little movement since December. Over the year, the number of unemployed 
persons and the unemployment rate were down by 1.6 million and 1.0 
percentage point, respectively. (See table A-1.) 

Among the major worker groups, the unemployment rates for adult men (6.4 
percent), adult women (5.9 percent), teenagers (21.4 percent), whites (5.8 
percent), blacks (12.0 percent), and Hispanics (8.1 percent) showed little 
or no change in February. The jobless rate for Asians was 6.0 percent (not 
seasonally adjusted), about unchanged over the year. (See tables A-1, A-2, 
and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) 
increased by 203,000 in February to 3.8 million; these individuals accounted 
for 37.0 percent of the unemployed. The number of long-term unemployed 
was down by 901,000 over the year. (See table A-12.)

Both the civilian labor force participation rate (63.0 percent) and the 
employment-population ratio (58.8 percent) were unchanged in February. The 
labor force participation rate was down 0.5 percentage point from a year 
ago, while the employment-population ratio was little changed over the 
year. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes 
referred to as involuntary part-time workers) was little changed at 7.2 
million in February. These individuals were working part time because their 
hours had been cut back or because they were unable to find full-time work. 
(See table A-8.)

In February, 2.3 million persons were marginally attached to the labor 
force, a decline of 285,000 over the year. (The 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 755,000 discouraged workers in 
February, down by 130,000 from a year earlier. (The 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 1.5 
million persons marginally attached to the labor force in February had not 
searched for work for reasons such as school attendance or family 
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 175,000 in February. Job growth 
averaged 189,000 per month over the prior 12 months. In February, job 
gains occurred in professional and business services and in wholesale 
trade, while information lost jobs. (See table B-1.)

Employment in professional and business services increased by 79,000 in 
February. Accounting and bookkeeping services added 16,000 jobs. Employment 
continued to trend up in temporary help services (+24,000) and in services 
to buildings and dwellings (+11,000). Over the prior 12 months, professional 
and business services added an average of 56,000 jobs per month.

In February, wholesale trade added 15,000 jobs, with nearly all of the 
increase occurring in durable goods (+12,000). Over the prior 12 months, 
the employment gain in wholesale trade averaged 9,000 per month. 

Employment in food services and drinking places continued to trend up in 
February (+21,000). Over the prior 12 months, this industry added an 
average of 27,000 jobs per month. 

In February, employment in construction changed little (+15,000). Over the 
past year, construction has added 152,000 jobs. Within the industry, 
employment in heavy and civil engineering construction rose by 12,000 in 
February. 

Employment in health care changed little in February (+10,000). This marks 
the third consecutive month of little employment change in this industry. 
Offices of physicians added 8,000 jobs in February. Employment in hospitals 
changed little over the month but is down by 10,000 over the past 3 months.

Retail trade employment changed little in February (-4,000). Among the 
component industries, a job gain in food and beverage stores (+12,000) was 
more than offset by declines in electronics and appliance stores (-12,000); 
sporting goods, hobby, book, and music stores (-9,000); and department 
stores (-7,000). Over the year, retail trade has added 282,000 jobs.

Information lost 16,000 jobs in February. Most of the decline occurred in 
motion picture and sound recording (-14,000); employment in this industry 
can be volatile from month to month. 

Employment in other major industries, including mining and logging, 
manufacturing, transportation and warehousing, financial activities, and 
government, changed little over the month.

The average workweek for all employees on private nonfarm payrolls edged 
down by 0.1 hour to 34.2 hours in February. The manufacturing workweek was 
unchanged at 40.7 hours, and factory overtime edged down by 0.1 hour to 3.3 
hours. The average workweek for production and nonsupervisory employees 
on private nonfarm payrolls declined by 0.2 hour to 33.3 hours. For 
production workers, the manufacturing workweek has declined by 0.6 hour 
over the past 3 months. (See tables B-2 and B-7.)

In February, average hourly earnings for all employees on private nonfarm 
payrolls rose by 9 cents to $24.31. Over the year, average hourly earnings 
have risen by 52 cents, or 2.2 percent. In February, average hourly 
earnings of private-sector production and nonsupervisory employees increased 
by 9 cents to $20.50. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for December was revised 
from +75,000 to +84,000, and the change for January was revised from 
+113,000 to +129,000. With these revisions, employment gains in December 
and January were 25,000 higher than previously reported. 

_____________
The Employment Situation for March is scheduled to be released on Friday, 
April 4, 2014, at 8:30 a.m. (EDT).

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted

[Numbers in thousands]
Category Feb.
2013
Dec.
2013
Jan.
2014
Feb.
2014
Change from:
Jan.
2014-
Feb.
2014
Employment status
Civilian noninstitutional population 244,828 246,745 246,915 247,085 170
Civilian labor force 155,511 154,937 155,460 155,724 264
Participation rate 63.5 62.8 63.0 63.0 0.0
Employed 143,464 144,586 145,224 145,266 42
Employment-population ratio 58.6 58.6 58.8 58.8 0.0
Unemployed 12,047 10,351 10,236 10,459 223
Unemployment rate 7.7 6.7 6.6 6.7 0.1
Not in labor force 89,317 91,808 91,455 91,361 -94
Unemployment rates
Total, 16 years and over 7.7 6.7 6.6 6.7 0.1
Adult men (20 years and over) 7.2 6.3 6.2 6.4 0.2
Adult women (20 years and over) 7.0 6.0 5.9 5.9 0.0
Teenagers (16 to 19 years) 25.2 20.2 20.7 21.4 0.7
White 6.8 5.9 5.7 5.8 0.1
Black or African American 13.8 11.9 12.1 12.0 -0.1
Asian (not seasonally adjusted) 6.1 4.1 4.8 6.0
Hispanic or Latino ethnicity 9.5 8.3 8.4 8.1 -0.3
Total, 25 years and over 6.3 5.6 5.4 5.5 0.1
Less than a high school diploma 11.2 9.8 9.6 9.8 0.2
High school graduates, no college 7.9 7.1 6.5 6.4 -0.1
Some college or associate degree 6.7 6.1 6.0 6.2 0.2
Bachelor’s degree and higher 3.9 3.3 3.2 3.4 0.2
Reason for unemployment
Job losers and persons who completed temporary jobs 6,495 5,366 5,407 5,448 41
Job leavers 952 862 818 823 5
Reentrants 3,330 3,036 2,937 2,997 60
New entrants 1,276 1,201 1,184 1,229 45
Duration of unemployment
Less than 5 weeks 2,677 2,255 2,434 2,373 -61
5 to 14 weeks 2,788 2,506 2,429 2,568 139
15 to 26 weeks 1,735 1,651 1,689 1,615 -74
27 weeks and over 4,750 3,878 3,646 3,849 203
Employed persons at work part time
Part time for economic reasons 7,991 7,771 7,257 7,186 -71
Slack work or business conditions 5,116 4,884 4,405 4,251 -154
Could only find part-time work 2,583 2,592 2,571 2,692 121
Part time for noneconomic reasons 18,925 18,731 19,165 19,027 -138
Persons not in the labor force (not seasonally adjusted)
Marginally attached to the labor force 2,588 2,427 2,592 2,303
Discouraged workers 885 917 837 755
– Over-the-month changes are not displayed for not seasonally adjusted data.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Feb.
2013
Dec.
2013
Jan.
2014(p)
Feb.
2014(p)
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Total nonfarm 280 84 129 175
Total private 263 86 145 162
Goods-producing 72 -13 61 22
Mining and logging 4 0 5 1
Construction 46 -20 50 15
Manufacturing 22 7 6 6
Durable goods(1) 13 0 -3 6
Motor vehicles and parts 5.6 0.1 -8.6 3.4
Nondurable goods 9 7 9 0
Private service-providing(1) 191 99 84 140
Wholesale trade 2.1 11.0 20.5 14.8
Retail trade 9.6 52.0 -22.6 -4.1
Transportation and warehousing -11.5 4.5 17.2 -3.6
Information 19 -15 -8 -16
Financial activities 12 2 -2 9
Professional and business services(1) 85 16 42 79
Temporary help services 21.5 32.2 2.1 24.4
Education and health services(1) 27 5 10 33
Health care and social assistance 35.5 2.6 11.4 14.7
Leisure and hospitality 50 18 22 25
Other services -2 7 6 3
Government 17 -2 -16 13
WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES(2)
AS A PERCENT OF ALL EMPLOYEES
Total nonfarm women employees 49.4 49.5 49.4 49.4
Total private women employees 47.9 48.0 47.9 48.0
Total private production and nonsupervisory employees 82.6 82.6 82.6 82.7
HOURS AND EARNINGS
ALL EMPLOYEES
Total private
Average weekly hours 34.5 34.3 34.3 34.2
Average hourly earnings $23.79 $24.17 $24.22 $24.31
Average weekly earnings $820.76 $829.03 $830.75 $831.40
Index of aggregate weekly hours (2007=100)(3) 98.0 99.1 99.2 99.0
Over-the-month percent change 0.5 -0.5 0.1 -0.2
Index of aggregate weekly payrolls (2007=100)(4) 111.3 114.3 114.7 114.9
Over-the-month percent change 0.7 -0.4 0.3 0.2
HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES
Total private
Average weekly hours 33.8 33.5 33.5 33.3
Average hourly earnings $20.00 $20.35 $20.41 $20.50
Average weekly earnings $676.00 $681.73 $683.74 $682.65
Index of aggregate weekly hours (2002=100)(3) 105.8 106.6 106.7 106.3
Over-the-month percent change 0.9 -0.5 0.1 -0.4
Index of aggregate weekly payrolls (2002=100)(4) 141.4 144.9 145.5 145.6
Over-the-month percent change 1.1 -0.3 0.4 0.1
DIFFUSION INDEX(5)
(Over 1-month span)
Total private (264 industries) 62.7 57.2 60.6 59.3
Manufacturing (81 industries) 57.4 57.4 52.5 51.2
Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary

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