BLS Analysis for May 2016

Bob Marshall’s May 2015 BLS Analysis for Recruiters; 6/5/15

 

May BLS Preface

 

 

TBMG News

 

Bob Marshall – Training/Coaching Updates:

 

Executive Search Owners Association (ESOA), Prestonwood Country Club, North Dallas, TX, June 9, 2015

 

I will be joining the ESOA group for their Round Table Discussion program.  This will take place Tuesday, from 11:30am to 1:00pm, at the Prestonwood Country Club in North Dallas, TX.

 

Next Level Exchange (NLE), a division of Kaye-Bassman (KBIC), Plano, TX, filming three sessions, June 10, 2015

 

My three presentations to be captured on film will be:  “Desk Building…Using the classic technique, ‘The Concept of Inverted Cones’”; “The Daily Planner, Modularization & The 100 Point Sheet”; “What Big Billers Know…But Don’t Tell You!”

 

The Newport Group (TNG), June 11-12, 2015

 

I will conduct my third training visit to The Newport Group on Thursday and Friday, June 11-12, 2015.  This visit will consist of formal presentations and desk-level coaching.

 

 

COACHING UPDATES

 

  • Do you want to know the 6 keys to qualifying your top Job Orders?

 

  • Would you like to pick a big biller’s mind during the periodic Illuminati teleconferences and have access to those recorded in the past?

 

  • Do you want to know the 11 secrets that all top recruiters know but never mention?

 

If so, join me on one of my coaching plans.  As they say, when the student is ready, the teacher will appear.  I am ready, if you are!

 

Beginning June 1st, as an additional incentive, I will include a free introductory 30 minute session to the first 5 who sign up in the next few days.  I am signing up students, for all three plans, this week for a June start.  Let me know when you’re ready to begin.

 

TBMG Silver Coaching Plan, (revised, April 2015)

 

*An affordable investment for those you want the accountability factor;

 

*We have twice per month telephone meetings—basically every other week (although I will be available at any time should the need to talk arise);

 

*Your numbers will be tracked on a weekly basis (recommended);

 

*$600 per month; 3-month commitment;

 

*The goal with this plan is to double your current levels of production;

 

And that is basically that!

 

You can also read the descriptions of my other coaching plans, and all of my products, on my website @ www.themarshallplan.org or you can reach me directly at 770-898-5550 or email me @ bob@themarshallplan.org.

 

 

Preface

 

Many of you continue to correspond with me about these monthly BLS analyses and have asked if it is OK to use them in your presentations.  The answer is, of course, yes!  That is why I spend the time to assemble this information.  I would encourage any of you who have that desire to weave any of the information I have printed below into your presentations.  I write these analyses for the benefit of our recruitment industry in general and for the members of my distribution list in particular.  So use this info as you deem appropriate.

 

I also write these monthly BLS analyses to not only counterbalance the negative/incorrect press reporting of our general economic state but, more than that, to remind all of my recruitment readers that, at the level we work, there is no unemployment and so we must recruit to find the candidates our client companies so desperately need!

 

So, to my recruiter colleagues, get out there and do what your name implies…RECRUIT!  When your client companies have unique and difficult positions to fill, they need you.  When they are being picky, they need you.  When they are longing for more production from fewer employees, they need you.  Go fill those needs.  These should be the halcyon days in the recruitment arena!

 

Finally, always remember that we are not in an HR business, but in a ‘circumventing the time factor in the hiring sequence’ business—and adding value to our client companies.

 

 

The new ADP/Moody’s National Employment Report:  93% of all new job growth in May, 2015 came from Small and Mid-size Companies!

June 3, 2015

 

Private sector employment increased by 201,000 jobs from April to May (up from the increase of 169,000 jobs last month), according to the May ADP National Employment Report®, which is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics.  The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

 

By Company Size

 

Small businesses: 122,000

1-19 employees 75,000

20-49 employees 47,000

 

Medium businesses: 65,000                                                                               

50-499 employees 65,000

 

Large businesses: 13,000

500-999 employees <3,000>

1,000+ employees 16,000

 

By Sector

 

Goods producing 9,000

Service providing 192,000

 

Industry Snapshot

 

Construction 27,000

Manufacturing <-5,000>

Trade/transportation/utilities 56,000

Financial activities 12,000

Professional/business services 28,000

 

Payrolls for businesses with 49 or fewer employees increased by 122,000 jobs in May, up from 97,000 in April.  Employment among companies with 50-499 employees increased by 65,000 jobs, the same as the previous month.  Employment gains at large companies – those with 500 or more employees – increased from April, adding 13,000 jobs in May, up from 3,000.  However, companies with 500-999 employees lost 3,000 jobs, after adding no jobs in April.  Companies with over 1,000 employees added 16,000 jobs, an improvement from 4,000 the previous month.

 

Goods-producing employment rose by 9,000 jobs in May, after adding just 1,000 in April.  The construction industry had another good month in May adding 27,000 jobs, up from 24,000 last month.  Meanwhile, manufacturing lost 5,000 jobs in May, after losing 8,000 in April.

 

Service-providing employment rose by 192,000 jobs in May, a strong rise from 164,000 in April.  The report indicates that professional/business services contributed 28,000 jobs in May, down from April’s 35,000.  Trade/transportation/utilities grew by 56,000, up from April’s 41,000.  The 12,000 new jobs added in financial activities is double last month’s 6,000.

 

“The labor market moved back up to the 200,000 jobs added mark in May, a number which has been something of a bellwether for healthy employment growth,” said Carlos Rodriguez, president and chief executive officer of ADP.  “We hope that the May number is the beginning of an upward trend going into the summer months.”

 

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market posted a solid gain in May.  Employment growth remains near the average of the past couple of years.  At the current pace of job-growth the economy will be back to full employment by this time next year.  The only blemishes are the decline in mining jobs due to the collapse in oil prices and the decline in manufacturing due to the strong dollar.”

 

 (The June 2015 ADP National Employment Report will be released at 8:15 a.m. ET on July 1, 2015).

 

 

Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported each month in the ADP Small Business Report®, a subset of the ADP National Employment Report.

 

May 2015 Small Business Report Highlights

 

Total Small Business Employment:             122,000

 

●By Size  
►1-19 employees 75,000
►20-49 employees 47,000
   
●By Sector for 1-49 Employees  
►Goods Producing 12,000
►Service Producing 110,000
   
●By Sector for 1-19 Employees  
►Goods Producing 7,000
►Service Producing 67,000
   
●By Sector for 20-49 Employees  
►Goods Producing 5,000
►Service Producing 42,000

 

Bottom-line:  To my audience of recruiters, always remember this:  Our ‘bread and butter’, especially on the contingency side of the house, has historically been, and continues to be, small and medium-sized client companies.  Along with the large companies, these companies need to be in included in your niche!

 

 

Job Openings and Labor Turnover Summary – March 2015

 

On May 12th, the BLS reported that there were 5,000,000 job openings on the last business day of March, little changed from 5,100,000 in February, the U.S. Bureau of Labor Statistics reported today.  Hires were little changed at 5,100,000 in March and separations were little changed at 5,000,000.  Within separations, the quits rate was 2.0% and the layoffs and discharges rate was 1.3%; both rates were little different from the previous month.  This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

 

Job Openings

 

There were 5,000,000 job openings on the last business day of March, little changed from February.  The job openings rate for March was 3.4%.  The job openings level was little changed for total private and government.  Job openings decreased in health care and social assistance but increased in arts, entertainment, and recreation.  The number of job openings was little changed in all four regions.

 

The number of job openings (not seasonally adjusted) increased over the 12 months ending in March for total nonfarm, total private, and government.  Job openings increased over the year for many industries including professional and business services, health care and social assistance, and accommodation and food services.  Job openings decreased over the year in mining and logging.  The number of job openings increased over the year in all four regions.

 

Hires

 

There were 5,100,000 hires in March, little changed from February.  The hires rate in March was 3.6%.  The number of hires was little changed for total private and government in March.  There was little or no change in the number of hires in all industries and regions over the month.

 

Over the 12 months ending in March, the number of hires (not seasonally adjusted) increased for total nonfarm and total private and was little changed for government.  Hires increased in wholesale trade as well as in accommodation and food services.  The number of hires decreased in mining and logging.  The number of hires increased in the Midwest region.

 

Large numbers of hires and separations occur every month throughout the business cycle.  Net employment change results from the relationship between hires and separations.  When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining.  Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising.  Over the 12 months ending in March 2015, hires totaled 59,700,000 and separations totaled 56,700,000, yielding a net employment gain of 3,000,000.  These

totals include workers who may have been hired and separated more than once during the year.

 

(The Job Openings and Labor Turnover Survey results for April 2015 are scheduled to be released on Tuesday, June 9th, 2015).

 

As we recruiters know, that 5,000,000 number only represents 20% of the jobs currently available in the marketplace.  The other 80% of job openings are unpublished and are filled through networking or word of mouth or by using a RECRUITER.   So, those 5,000,000 published job openings now become a total of 25,000,000 published and hidden job orders.

 

In May there were 8,674,000 unemployed workers.  What was the main reason why those workers were unemployed?  Two Words:  Structural Unemployment.  If we can’t figure out how to educate and/or reeducate those 8,674,000 unemployed, then they will keep reappearing each month as a BLS unemployment statistic—as they have.  In the meantime, our recruitment marketplace flourishes!

 

 

Online Labor Demand Rose 83,100 in May

June 3, 2015

 

  • Job demand gains in May offset most of the April loss
  • Gains are widespread across areas and occupations

 

Online advertised vacancies rose 83,100 to 5,445,000 in May, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series, released today. The April Supply/Demand rate stands at 1.59 unemployed for each advertised vacancy, with a total of 3,200,000 more unemployed workers than the number of advertised vacancies. The number of unemployed was 8,500,000 in April.

 

“Following a very strong January and February, the growth in online vacancies has been basically flat over the past 3 months,” said Gad Levanon, Managing Director, Macroeconomic and Labor Market Research. “Still, even with the recent 3-month pause, the 2015 growth rate has significantly outpaced the 2014 growth rate during the same time period.”

 

In May, the Professional category saw the most gains with the STEM categories of Computers (16,400) and Healthcare (19,700) showing the strongest improvements. The Services/Production category saw gains in Transportation (13,400) and Construction (6,700) but losses in Food (−6,700) and Sales and Related (−8,300). The significant drop in the US S/D rate has been helped by very strong employer demand, ranging from 4,000,000 to 5,000,000 ads each month over the past 4 years, making it easier for the recession’s 15,000,000 unemployed to find employment opportunities. With the recession’s unemployment numbers finally down significantly, the continued high employer demand at 5,000,000 ads per month will make the job search for new entrants into the labor market much easier.

 

Occupational Changes for the Month of May

 

In May, 8 of the largest online job categories posted increases while 2 posted decreases.

 

Healthcare Practitioners and Technical ads gained 19,700 in May to 601,500 and were led by increases in speech language pathologists and physical and occupational therapists. The supply/demand rate for these occupations lies at 0.35, i.e. about 2.9 advertised available openings for every job-seeker. Computer and Math demand increased 16,400 in May to 595,500 due to a rise in demand for computer systems analysts. Transportation ads rose 13,400 to 387,500 largely due to an increase in demand for laborers and freight, stock, and material movers, hand. Management ads increased 7,600 to 485,900 due to a rise in demand for medical and health services managers.

 

Sales and related ads dropped 8,300 to 579,300 due to a loss for sales representatives, wholesale and manufacturing, except technical and scientific products. Their supply/demand rate is 1.67, i.e. about two unemployed per opening. Food Preparation and Serving-Related ads declined 6,700 to 240,600 largely due to decreased demand for first-line supervisors of food preparation and serving workers and combined food preparation and serving workers including fast food. The supply/demand rate for Food Preparation and Serving-Related lies at 3.09, i.e. about three unemployed job-seekers for every advertised available opening.

 

The Conference Board Help Wanted OnLine® Data Series (HWOL) measures the number of new, first-time online jobs and jobs reposted from the previous month for over 16,000 Internet job boards, corporate boards and smaller job sites that serve niche markets and smaller geographic areas.

 

 (The June 2015 Conference Board Help Wanted OnLine® (HWOL) Data Series will be released at 10:00 AM ET on Wednesday, July 1, 2015).

 

 

U-6 Update

 

In May, 2015 the regular unemployment number was slightly higher at 5.5%, and the broader U-6 measure remained at 10.8%, almost twice as high as the regular unemployment figure.

 

The above 10.8% is referred to as the U6 unemployment rate (found in the monthly BLS Employment Situation Summary, Table A-15; Table A-12 in 2008 and before).  It counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts “marginally attached workers and those working part-time for economic reasons.”  Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week.  And the “marginally attached workers” include those who have gotten discouraged and stopped looking, but still want to work.  The age considered for this calculation is 16 year and over.

 

Here is a look at the May U-6 numbers for the past 12 years:

 

May 2014                    12.2%

May 2013                    13.8%

May 2012                    14.8%

May 2011                    15.8%

May 2010                    16.5%

May 2009                    16.4%

May 2008                    9.8%

May 2007                    8.3%

May 2006                    8.2%

May 2005                    8.9%

May 2004                    9.7%

May 2003                    10.1%

 

 

The May BLS Analysis

 

The unemployment rate is published by the Bureau of Labor Statistics, a division of the US Department of Labor.  The rate is found by dividing the number of unemployed by the total civilian labor force.  On June 5th, 2015, the BLS published the most recent unemployment rate for May, 2015 of 5.5% (actually it is 5.508%, up by .065% from 5.443% in April, 2015).

 

The unemployment rate was determined by dividing the unemployed of 8,674,000 (—up from the month before by 125,000—since May, 2014 this number has decreased by 1,087,000) by the total civilian labor force of 157,469,000 (up by 397,000 from April, 2015).  Since May 2014, our total civilian labor force has increased by 1,840,000 workers.

 

(The continuing ‘Strange BLS Math’ saga):  The BLS continues to increase the total Civilian Noninstitutional Population—this time up to 250,455,000.  This is an increase of 189,000 from last month’s increase.  In one year’s time, this population has increased by 2,833,000.  The Civilian Noninstitutional Population has increased each month by…)

 

Up from April 2015 by 189,000
Up from March 2015 by 186,000
Up from February 2015 by 191,000
Up from January 2015 by 176,000
Up from December 2014 by 696,000
Up from November 2014 by 143,000
Up from October 2014 by 187,000
Up from September 2014 by 211,000
Up from August 2014 by 217,000
Up from July 2014 by 206,000
Up from June 2014 by 209,000
Up from May 2014 by 192,000
Up from April 2014 by 183,000
Up from March 2014 by 181,000
Up from February 2014 by 173,000
Up from January 2014 by 170,000
Up from December 2013 by 170,000
Up from November 2013 by 178,000
Up from October 2013 by 186,000
Up from September 2013 by 213,000
Up from August 2013 by 209,000
Up from July 2013 by 203,000
Up from June 2013 by 204,000
Up from May 2013 by 189,000
Up from April 2013 by 188,000
Up from March 2013 by 180,000
Up from February 2013 by 167,000
Up from January 2013 by 165,000
Up from December 2012 by 313,000
Up from November 2012 by 176,000
Up from October 2012 by 191,000
Up from September 2012 by 211,000
Up from August 2012 by 206,000
Up from July 2012 by 212,000
Up from June 2012 by 199,000
Up from May 2012 by 189,000
Up from April 2012 by 182,000
Up from March 2012 by 180,000
Up from February 2012 by 169,000
Up from January 2012 by 335,000
Up from December 2011 by 2,020,000

 

And this month the BLS has increased the Civilian Labor Force to 157,469,000 (up from April by 397,000).

 

Subtract the second number (‘civilian labor force’) from the first number (‘civilian noninstitutional population’) and you get 92,986,000 ‘Not in Labor Force’—down by 208,000 from last month’s 93,194,000.  Since May, 2014, 993,000 US workers have vanished!  Where did those 993,000 potential workers disappear to in one year’s time?  I am assuming they still have to eat and pay their rent.  They still need money, don’t they?  The government tells us that these NILFs got discouraged and just gave up looking for a job.  My monthly recurring question is:  “If that is the case, how do they live when they don’t earn any money because they don’t have a job?  Are they ALL relying on the government to support them??”

 

This month our Employment Participation Rate—the population 16 years and older working or seeking work—rose slightly to 62.9%.  This is .2% above the historically low rate of 62.7% recorded in March, and in September and December of last year– and, before that, the rate recorded in February 1978—one year into President Jimmy Carter’s term of office, 36 years ago!

 

Final take on these numbers:  Fewer people looking for work will always bring down the unemployment rate.

 

Anyway, back to the point I am trying to make.  On the surface, these new unemployment rates are scary, but let’s look a little deeper and consider some other numbers.

 

The unemployment rate includes all types of workers—construction workers, government workers, etc.  We recruiters, on the other hand, mainly place management, professional and related types of workers.  That unemployment rate in May was 2.4% (this rate was the same as last month’s 2.4%).  Or, you can look at it another way.  We usually place people who have college degrees.  That unemployment rate in May was 2.7% (this rate was the same as last month’s 2.7%).

 

Now stay with me a little longer.  This gets better.  It’s important to understand (and none of the pundits mention this) that the unemployment rate, for many reasons, will never be 0%, no matter how good the economy is.  Without boring you any more than I have already, let me add here that Milton Friedman (the renowned Nobel Prize-winning economist), is famous for the theory of the “natural rate of unemployment” (or the term he preferred, NAIRU, which is the acronym for Non-Accelerating Inflation Rate of Unemployment).  Basically, this theory states that full employment presupposes an ‘unavoidable and acceptable’ unemployment rate of somewhere between 4-6% with it.  Economists often settle on 5%, although the “New Normal Unemployment Rate” has been suggested to fall at 6.7%.

 

Nevertheless (if you will allow me to apply a ‘macro’ concept to a ‘micro’ issue), if this rate is applied to our main category of Management, Professional and Related types of potential recruits, and/or our other main category of College-Degreed potential recruits, we are well below the 4-6% threshold for full employment…we find no unemployment!  None!  Zilch!  A Big Goose Egg!

 

 

THE IMPORTANCE OF GDP

 

“The economic goal of any nation, as of any individual, is to get the greatest results with the least effort.  The whole economic progress of mankind has consisted in getting more production with the same labor…Translated into national terms, this first principle means that our real objective is to maximize production.  In doing this, full employment—that is, the absence of involuntary idleness—becomes a necessary by-product.  But production is the end, employment merely the means.  We cannot continuously have the fullest production without full employment.  But we can very easily have full employment without full production.”

 

Economics in One Lesson, by Henry Hazlitt, Chapter X, “The Fetish of Full Employment”

 

On May 29th, the Bureau of Economic Analysis (BEA) announced the real gross domestic product (GDP) — the value of the production of goods and services in the United States, adjusted for price changes — decreased at an annual rate of <0.7%> in the first quarter of 2015, according to the “second” estimate released by the BEA.  In the fourth quarter, real GDP increased 2.2%.

 

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month.  In the advance estimate, real GDP increased 0.2 percent.  With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated

 

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment.  Imports, which are a subtraction in the calculation of GDP, increased.

 

The downturn in the percent change in real GDP primarily reflected a deceleration in PCE and downturns in exports, in nonresidential fixed investment, and in state and local government spending that were partly offset by a deceleration in imports and upturns in federal government spending and in private inventory investment.

 

*The economy needs to expand at about 3% to keep the unemployment rate from rising.

 

(The “third” estimate for the 1st Quarter 2015 GDP will be released on June 24th, 2015).

 

 

IT IS IMPOSSIBLE FOR UNEMPLOYMENT EVER TO BE ZERO

 

‘Unemployment’ is an emotional ‘trigger’ word…a ‘third rail’, if you will.  It conjures up negative thoughts.  But it is important to realize that, while we want everyone who wants a job to have the opportunity to work, unemployment can never be zero and, in fact, can be disruptive to an economy if it gets too close to zero.  Very low unemployment can actually hurt the economy by creating an upward pressure on wages which invariably leads to higher production costs and prices.  This can lead to inflation.  The lowest the unemployment rate has been in the US was 2.5%.  That was in May and June 1953 when the economy overheated due to the Korean War.  When this bubble burst, it kicked off the Recession of 1953.  A healthy economy will always include some percentage of unemployment.

 

 

There are five main sources of unemployment:

 

  1. Cyclical (or demand-deficient) unemployment – This type of unemployment fluctuates with the business cycle. It rises during a recession and falls during the subsequent recovery.  Workers who are most affected by this type of unemployment are laid off during a recession when production volumes fall and companies use lay-offs as the easiest way to reduce costs.  These workers are usually rehired, some months later, when the economy improves.

 

  1. Frictional unemployment – This comes from the normal turnover in the labor force. This is where new workers are entering the workforce and older workers are retiring and leaving vacancies to be filled by the new workers or those re-entering the workforce.  This category includes workers who are between jobs.

 

  1. Structural unemployment – This happens when the skills possessed by the unemployed worker don’t match the requirements of the opening—whether those be in characteristics and skills or in location. This can come from new technology or foreign competition (e.g., foreign outsourcing).  This type of unemployment usually lasts longer than frictional unemployment because retraining, and sometimes relocation, is involved.  Occasionally jobs in this category can just disappear overseas.

 

  1. Seasonal unemployment – This happens when the workforce is affected by the climate or time of year. Construction workers and agricultural workers aren’t needed as much during the winter season because of the inclement weather.  On the other hand, retail workers experience an increase in hiring shortly before, and during, the holiday season, but can be laid off shortly thereafter.

 

  1. Surplus unemployment – This is caused by minimum wage laws and unions. When wages are set at a higher level, unemployment can often result.  Why?  To keep within the same payroll budget, the company must let go of some workers to pay the remaining workers a higher salary.

 

Other factors influencing the unemployment rate:

 

  1. Length of unemployment – Some studies indicate that an important factor influencing a workers decision to accept a new job is directly related to the length of the unemployment benefit they are receiving. As of August 25th, workers in most states are eligible for up to 26 weeks of benefits from the regular state-funded unemployment compensation program, although 8 states provide fewer weeks and 2 provide more.  (Emergency Unemployment Compensation, a temporary federal program that provided additional weeks of benefits to workers who exhausted their regular state UI before finding a job, expired at the end of 2013 and efforts to revive it have been unsuccessful so far.)  Studies suggest that additional weeks of benefits reduce the incentive of the unemployed to seek and accept less desirable jobs.

 

  1. Changes in GDP – Since hiring workers takes time, the improvement in the unemployment rate usually lags behind the improvement in the GDP.

 

 

WHERE RECRUITERS PLACE

 

Now back to the issue at hand, namely the recruiting, and placing, of professionals and those with college degrees.

 

If you take a look at the past few years of unemployment in the May “management, professional and related” types of worker category, you will find the following rates:

 

May 2014                    3.1%

May 2013                    3.5%

May 2012                    4.0%

May 2011                    4.4%

May 2010                    4.5%

May 2009                    4.3%

May 2008                    2.6%

May 2007                    1.9%

May 2006                    2.0%

May 2005                    2.4%

May 2004                    2.8%

May 2003                    3.0%

May 2002                    3.1%

 

Here are the rates, during those same time periods, for “college-degreed” workers:

 

May 2014                    3.2%

May 2013                    3.8%

May 2012                    3.9%

May 2011                    4.5%

May 2010                    4.6%

May 2009                    4.8%

May 2008                    2.3%

May 2007                    2.0%

May 2006                    2.1%

May 2005                    2.4%

May 2004                    2.9%

May 2003                    3.1%

May 2002                    3.0%

 

So, while May’s 2015 rates for these two categories, 2.4% and 2.7%, respectively, are trending very positively, when looking at the big picture, it’s not anything to be very happy about either—especially when we see how well we had it during the 2005-2008 time frame.  But regardless, these unemployment numbers usually include a good number of job hoppers, job shoppers and rejects.  We, on the other hand, are engaged by our client companies to find those candidates who are happy, well-appreciated, making good money and currently working and we entice them to move for even better opportunities—especially where new technologies are expanding.  This will never change.  And that is why, no matter the unemployment rate, we still need to market to find the best possible job orders and we still need to recruit to find the best possible candidates.

 

 

 

 

 

 

 

 

 

 

Below are the numbers for the over 25 year olds:

 

 

 

 

 

 

 

 

 

 

 

Less that H.S. diploma – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
7.7% 7.4% 8.2% 7.9% 8.4% 8.9% 8.6% 9.7% 9.8% 10.4% 10.6% 10.9%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
12.0% 12.6% 13.3% 14.8% 15.5% 15.5% 15.4% 15.6% 15.0% 15.5% 15.0% 15.3%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
15.2% 15.6% 14.5% 14.7% 15.0% 14.1% 13.8% 14.0% 15.4% 15.3% 15.7% 15.3%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
14.2% 13.9% 13.7% 14.6% 14.7% 14.3% 15.0% 14.3% 14.0% 13.8% 13.2% 13.8%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
13.1% 12.9% 12.6% 12.5% 13.0% 12.6% 12.7% 12.0% 11.3% 12.2% 12.2% 11.7%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
12.0% 11.2% 11.1% 11.6% 11.1% 10.7% 11.0% 11.3% 10.3% 10.9% 10.8% 9.8%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
9.6% 9.8% 9.6% 8.9% 9.1% 9.1% 9.6% 9.1% 8.4% 7.9% 8.5% 8.6%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
8.5% 8.4% 8.6% 8.6% 8.6%              

 

 

H.S. Grad; no college – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
4.6% 4.7% 5.1% 5.0% 5.2% 5.2% 5.3% 5.8% 6.3% 6.5% 6.9% 7.7%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
8.1% 8.3% 9.0% 9.3% 10.0% 9.8% 9.4% 9.7% 10.8% 11.2% 10.4% 10.5%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
10.1% 10.5% 10.8% 10.6% 10.9% 10.8% 10.1% 10.3% 10.0% 10.1% 10.0% 9.8%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
9.4% 9.5% 9.5% 9.7% 9.5% 10.0% 9.3% 9.6% 9.7% 9.6% 8.8% 8.7%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
8.4% 8.3% 8.0% 7.9% 8.1% 8.4% 8.7% 8.8% 8.7% 8.4% 8.1% 8.0%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
8.1% 7.9% 7.6% 7.4% 7.4% 7.6% 7.6% 7.6% 7.6% 7.3% 7.3% 7.1%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
6.5% 6.4% 6.3% 6.3% 6.5% 5.8% 6.1% 6.2% 5.3% 5.7% 5.6% 5.3%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
5.4% 5.4% 5.3% 5.4% 5.8%              

 

Some College; or AA/AS – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
3.7% 3.8% 3.9% 4.0% 4.3% 4.4% 4.6% 5.0% 5.1% 5.3% 5.5% 5.6%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
6.2% 7.0% 7.2% 7.4% 7.7% 8.0% 7.9% 8.2% 8.5% 9.0% 9.0% 9.0%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
8.5% 8.0% 8.2% 8.3% 8.3% 8.2% 8.3% 8.7% 9.1% 8.5% 8.7% 8.1%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
8.0% 7.8% 7.4% 7.5% 8.0% 8.4% 8.3% 8.2% 8.4% 8.3% 7.6% 7.7%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
7.2% 7.3% 7.5% 7.6% 7.9% 7.5% 7.1% 6.6% 6.5% 6.9% 6.6% 6.9%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
7.0% 6.7% 6.4% 6.4% 6.5% 6.4% 6.0% 6.1% 6.0% 6.3% 6.4% 6.1%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
6.0% 6.2% 6.1% 5.7% 5.5% 5.0% 5.3% 5.4% 5.4% 4.8% 4.9% 4.9%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
5.2% 5.1% 4.8% 4.7% 4.4%              

 

BS/BS + – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
2.1% 2.1% 2.1% 2.1% 2.3% 2.4% 2.5% 2.7% 2.6% 3.1% 3.2% 3.7%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
3.8% 4.1% 4.3% 4.4% 4.8% 4.7% 4.7% 4.7% 4.9% 4.7% 4.9% 5.0%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
4.9% 5.0% 4.9% 4.9% 4.7% 4.4% 4.5% 4.6% 4.4% 4.7% 5.1% 4.8%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
4.2% 4.3% 4.4% 4.5% 4.5% 4.4% 4.3% 4.3% 4.2% 4.4% 4.4% 4.1%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
4.2% 4.2% 4.2% 4.0% 3.9% 4.1% 4.1% 4.1% 4.1% 3.8% 3.8% 3.9%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
3.8% 3.8% 3.8% 3.9% 3.8% 3.9% 3.8% 3.5% 3.7% 3.8% 3.4% 3.3%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
3.2% 3.4% 3.4% 3.3% 3.2% 3.3% 3.1% 3.2% 2.9% 3.1% 3.2% 2.9%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
2.8% 2.7% 2.5% 2.7% 2.7%              

 

Management, Professional & Related – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
2.2% 2.2% 2.1% 2.0% 2.6% 2.7% 2.9% 3.3% 2.8% 3.0% 3.2% 3.3%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
4.1% 3.9% 4.2% 4.0% 4.6% 5.0% 5.5% 5.4% 5.2% 4.7% 4.6% 4.6%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
5.0% 4.8% 4.7% 4.5% 4.5% 4.9% 5.0% 5.1% 4.4% 4.5% 4.7% 4.6%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
4.7% 4.4% 4.3% 4.0% 4.4% 4.7% 5.0% 4.9% 4.4% 4.4% 4.2% 4.2%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
4.3% 4.2% 4.2% 3.7% 4.0% 4.4% 4.8% 4.5% 3.9% 3.8% 3.6% 3.9%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
3.9% 3.8% 3.6% 3.5% 3.5% 4.2% 4.1% 3.8% 3.5% 3.4% 3.1% 2.9%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
3.1% 3.2% 3.3% 2.9% 3.1% 3.5% 3.5% 3.4% 2.8% 2.7% 2.8% 2.7%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
2.9% 2.7% 2.4% 2.4% 2.4%              

 

 

Or employed…(,000)

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
52,165 52,498 52,681 52,819 52,544 52,735 52,655 52,626 53,104 53,485 53,274 52,548

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
52,358 52,196 52,345 52,597 52,256 51,776 51,810 51,724 52,186 52,981 52,263 52,131

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
52,159 52,324 52,163 52,355 51,839 51,414 50,974 50,879 51,757 51,818 52,263 51,704

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
51,866 52,557 53,243 53,216 52,778 52,120 51,662 51,997 52,665 52,864 52,787 52,808

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
53,152 53,208 53,771 54,055 54,156 53,846 53,165 53,696 54,655 55,223 54,951 54,635

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
54,214 54,563 54,721 54,767 54,740 54,323 54,064 54,515 55,013 55,155 55,583 54,880

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
55,096 55,501 56,036 55,896 56,202 55,714 55,381 55,646 56,365 56,759 57,110 56,888

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
57,367 57,596 57,805 57,953 58,155              

 

 

And unemployed…(,000)

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
1,164 1,159 1,121 1,088 1,407 1,478 1,585 1,779 1,539 1,647 1,786 1,802

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
2,238 2,137 2,292 2,164 2,373 2,720 3,034 2,925 2,859 2,593 2,530 2,509

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
2,762 2,637 2,600 2,464 2,450 2,644 2,687 2,762 2,381 2,417 2,525 2,468

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
2,557 2,435 2,381 2,196 2,419 2,598 2,742 2,671 2,450 2,410 2,336 2,303

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
2,410 2,336 2,330 2,062 2,275 2,472 2,666 2,556 2,245 2,170 2,077 2,221

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
2,211 2,164 2,020 1,980 1,990 2,358 2,286 2,130 1,978 1,930 1,749 1,637

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
1,784 1,845 1,890 1,642 1,795 2,001 2,011 1,930 1,617 1,582 1,656 1,568

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
1,741 1,601 1,398 1,435 1,460              

 

 

For a total Management, Professional & Related workforce of…(,000)

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
53,329 53,657 53,802 53,907 53,951 54,213 54,240 54,405 54,643 55,132 55,060 54,350

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
54,596 54,333 54,637 54,761 54,629 54,496 54,844 54,649 55,045 55,574 54,793 54,640

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
54,921 54,961 54,763 54,819 54,289 54,058 53,661 53,641 54,138 54,235 54,788 54,172

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
54,423 54,992 55,624 55,412 55,197 54,718 54,404 54,668 55,115 55,274 55,123 55,111

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
55,562 55,544 56,101 56,117 56,431 56,318 55,831 56,252 56,900 57,393 57,028 56,856

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
56,425 56,727 56,741 56,747 56,730 56,681 56,350 56,645 56,991 57,085 57,332 56,517

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
56,880 57,346 57,926 57,538 57,997 57,715 57,392 57,576 57,982 58,341 58,766 58,456

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
59,108 59,197 59,203 59,388 59,615              

 

 

 

Management, Business and Financial Operations – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
2.3% 2.3% 2.2% 2.1% 2.7% 2.5% 2.6% 2.8% 2.8% 3.0% 3.6% 3.9%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
4.6% 4.5% 4.5% 4.4% 4.6% 4.8% 4.9% 5.0% 5.2% 5.4% 5.4% 5.2%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
5.2% 5.1% 5.4% 5.1% 4.9% 4.8% 4.7% 4.9% 4.3% 5.0% 5.5% 5.7%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
5.3% 4.9% 4.8% 4.6% 4.9% 4.6% 4.6% 4.6% 4.6% 4.7% 4.6% 4.4%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
4.5% 4.4% 4.4% 4.0% 4.1% 3.8% 3.8% 3.7% 3.5% 3.6% 3.8% 4.1%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
4.0% 3.9% 3.5% 3.5% 3.8% 3.5% 3.1% 3.4% 3.3% 3.7% 3.2% 3.1%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
3.4% 3.6% 3.5% 3.2% 3.3% 2.8% 2.7% 2.6% 2.4% 2.7% 2.7% 2.5%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
3.0% 2.8% 2.6% 2.6% 2.9%              

 

 

Professional & Related – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
2.1% 2.1% 2.0% 2.0% 2.5% 2.9% 3.2% 3.6% 2.8% 3.0% 3.0% 2.9%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
4.9% 4.6% 4.3% 4.1% 4.3% 5.0% 5.2% 5.3% 4.4% 4.1% 4.1% 3.8%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
4.3% 4.1% 3.9% 3.5% 4.0% 4.9% 5.3% 5.1% 4.4% 4.1% 4.0% 4.0%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
4.2% 4.1% 4.0% 3.5% 4.0% 4.8% 5.5% 5.2% 4.3% 3.9% 3.5% 3.8%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
3.8% 3.8% 3.6% 3.4% 3.3% 4.6% 4.7% 4.0% 3.6% 3.1% 2.9% 2.7%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
2.9% 3.0% 3.1% 2.6% 2.9% 4.0% 4.1% 3.9% 3.1% 2.7% 2.9% 2.8%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
2.9% 2.7% 2.2% 2.3% 2.1%              

 

 

 

Sales & Related – Unemployment Rate

 

1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08
5.2% 5.2% 4.8% 4.3% 5.1% 5.6% 6.2% 6.3% 5.7% 6.1% 6.5% 7.0%

 

1/09 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09
7.7% 8.4% 8.9% 8.6% 8.9% 9.1% 8.3% 8.7% 8.9% 9.5% 9.1% 8.9%

 

1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10
10.1% 10.2% 9.7% 9.2% 9.6% 9.4% 10.1% 9.0% 9.4% 9.1% 8.8% 8.3%

 

1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11 10/11 11/11 12/11
9.3% 9.0% 8.5% 8.5% 9.4% 9.7% 9.4% 8.6% 9.4% 8.2% 7.8% 7.7%

 

1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12
8.2% 7.9% 8.1% 7.6% 7.9% 8.4% 8.3% 8.6% 7.9% 7.0% 7.3% 7.0%

 

1/13 2/13 3/13 4/13 5/13 6/13 7/13 8/13 9/13 10/13 11/13 12/13
8.5% 8.2% 7.7% 6.9% 7.1% 6.7% 6.9% 7.2% 7.5% 7.3% 7.0% 6.3%

 

1/14 2/14 3/14 4/14 5/14 6/14 7/14 8/14 9/14 10/14 11/14 12/14
7.1% 7.7% 6.8% 5.8% 6.8% 6.1% 6.2% 5.6% 5.4% 5.2% 5.3% 5.0%

 

1/15 2/15 3/15 4/15 5/15 6/15 7/15 8/15 9/15 10/15 11/15 12/15
5.8% 5.2% 5.8% 5.5% 5.8%