Posted on 11/02/2012 5:35:32 AM PDT by xzins
THE EMPLOYMENT SITUATION -- OCTOBER 2012
Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.
_______________________________________________________________________________ | | | Hurricane Sandy | | | |Hurricane Sandy had no discernable effect on the employment and unemployment | |data for October. Household survey data collection was completed before the | |storm, and establishment survey data collection rates were within normal ranges| |nationally and for the affected areas. For information on how unusually severe | |weather can affect the employment and hours estimates, see the Frequently Asked| |Questions section of this release. | | | |_______________________________________________________________________________|
Household Survey Data
Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3 million) were essentially unchanged in October, following declines in September. (See table A-1.)
Among the major worker groups, the unemployment rate for blacks increased to 14.3 percent in October, while the rates for adult men (7.3 percent), adult women (7.2 percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent) showed little or no change. The jobless rate for Asians was 4.9 percent in October (not seasonally adjusted), down from 7.3 percent a year earlier. (See tables A-1, A-2, and A-3.)
In October, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.0 million. These individuals accounted for 40.6 percent of the unemployed. (See table A-12.)
The civilian labor force rose by 578,000 to 155.6 million in October, and the labor force participation rate edged up to 63.8 percent. Total employment rose by 410,000 over the month. The employment-population ratio was essentially unchanged at 58.8 percent, following an increase of 0.4 percentage point in September. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) fell by 269,000 to 8.3 million in October, partially offsetting an increase of 582,000 in September. 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 October, 2.4 million persons were marginally attached to the labor force, little different from 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 813,000 discouraged workers in October, a decline of 154,000 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 1.6 million persons marginally attached to the labor force in October had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)
Establishment Survey Data
Total nonfarm payroll employment increased by 171,000 in October. Employment growth has averaged 157,000 per month thus far in 2012, about the same as the average monthly gain of 153,000 in 2011. In October, employment rose in professional and business services, health care, and retail trade. (See table B-1.)
Professional and business services added 51,000 jobs in October, with gains in services to buildings and dwellings (+13,000) and in computer systems design (+7,000). Temporary help employment changed little in October and has shown little net change over the past 3 months. Employment in professional and business services has grown by 1.6 million since its most recent low point in September 2009.
Health care added 31,000 jobs in October. Job gains continued in ambulatory health care services (+25,000) and hospitals (+6,000). Over the past year, employment in health care has risen by 296,000.
Retail trade added 36,000 jobs in October, with gains in motor vehicles and parts dealers (+7,000), and in furniture and home furnishings stores (+4,000). Retail trade has added 82,000 jobs over the past 3 months, with most of the gain occurring in motor vehicles and parts dealers, clothing and accessories stores, and miscellaneous store retailers.
Employment in leisure and hospitality continued to trend up (+28,000) over the month. This industry has added 811,000 jobs since a recent low point in January 2010, with most of the gain occurring in food services.
Employment in construction edged up in October. The gain was concentrated in specialty trade contractors (+17,000).
Manufacturing employment changed little in October. On net, manufacturing employment has shown little change since April.
Mining lost 9,000 jobs in October, with most of the decline occurring in support activities for mining. Since May of this year, employment in mining has decreased by 17,000.
Employment in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, and government, showed little change over the month.
In October, the average workweek for all employees on private nonfarm payrolls was 34.4 hours for the fourth consecutive month. The manufacturing workweek edged down by 0.1 hour to 40.5 hours, and factory overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.6 hours. (See tables B-2 and B-7.)
In October, average hourly earnings for all employees on private nonfarm payrolls edged down by 1 cent to $23.58. Over the past 12 months, average hourly earnings have risen by 1.6 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees edged down by 1 cent to $19.79. (See tables B-3 and B-8.)
The change in total nonfarm payroll employment for August was revised from +142,000 to +192,000, and the change for September was revised from +114,000 to +148,000.
at least until its revised
The unemployment rate rises. So much for “signs of recovery.” Spin this all they want, the soundbite is: unemployment has risen AGAIN under President Stupid.
Here, let me rephrase that:
Numbers were fudged to finally get it under 8%.
This isn’t even a dead cat bounce,
This is a good time to remind everyone to use proper headlines in order to avoid duplicates.
Thanks, AM. I appreciate your help.
Thank you!!
So if things are really “unchanged” then we should expect a correction to 8.0% for October.
I’m new here. I’m 41 and live in Ohio and I don’t care how they spin this its bad for obama. It should have went down for it to be good for obama. Plus the jobs numbers should be over 300,000 a month to be good. His weren’t even half that. Not good.
http://www.freerepublic.com/focus/chat/2953611/posts?page=38#38
. this is not to say I was right but to expose this evil lying government and evil lying communist Obama and the evil lying marxist media.
http://www.freerepublic.com/focus/chat/2953611/posts?page=38#38
. this is not to say I was right but to expose this evil lying government and evil lying communist Obama and the evil lying marxist media.
Yup. I've read that 82 of the last 83 weeks have been revised upward. So I'm guessing in the next couple weeks we will see 8%. Still those numbers are never the true picture of unemployment because they never include the millions who have given up looking for jobs or the underemployed, not to mention the thousands of recent graduates who can't find work. Plus, Holiday hiring starts at the end of October which always skews the numbers to the positive. So the real first time applications for unemployment insurance would be worse.
CNBC is trying to say this .1% increase is a good thing. Have to say that although the BLS always has to "correct" their numbers (which is plausible due to late reporting), it seems to be non-partisan and didn't try to massage the numbers down from 7.8% to give Bambi a positive, as many here often postulate. That's good thing but makes a person wonder why he doesn't control them.
Also, are there any missing numbers from the eastern States/Counties due to Sandy? And what about the reports of many large companies anticipating layoffs? Then there is always Europe that is still contracting.
Bottom line, let's see Bambi spin this .1% increase as a positive. Then let's see Romney give the bigger picture which includes some of the facts stated above.
That was not addressed to you personally- but the contents of the post
Romney can run with this. After 4 years the unemployment rate under the socialist has risen,not declined. I mean this is a hanging curve.
Romney could say “The President is claiming we are making progress. Yet October unemployment is 7.9%. October was revised up. Unemployment is higher now than when the President took office. Worse, yes, it gets worse... look at more continuing trends: October paychecks are down, October hours worked are down, and the added jobs President Obama brags about are not even enough to keep up with population growth.”
Then ask the crowd “Does this sound like progress to you?”
(pause for crowd response)
“I don’t think he hears you. Is this progress?”
(pause)
“Are you being told the truth?”
(pause)
“Does the President deserve your vote?”
(pause)
“Can this great nation do better?”
(long pause)
“With your help, WE. WILL.”
The U rate went up because the labor force grew so more people were looking for work.
To keep the rate steady we have to grow at a 3% rate according to history.
This job growth is way too low to bring the 23+ million without full time work back. Even 200,000 per month would take TEN years to get back to 2007.
That's what I think. I expect to find that the jobs added were part time temp jobs, and that we lost some full time jobs, as happened last month.
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