Bob Marshall’s December 2013 BLS Analysis; 1/10/14
December BLS Preface
TBMG News
Bob Marshall – Training/Coaching Update
IPA National Convention 2014, Las Vegas, NV, April 3-4, 2014 :
I will be the keynote speaker at the Inter-City Personnel Associates (IPA) National Convention at Bally’s, Las Vegas, NV on April 3-4, 2014. My two presentations will be: “How to Teach a Recruiter to Bill $1,010,349.50 in One Year” & “Marketing Call Mastery”.
COACHING**
**Now, if you are serious about increasing your billings, give my prized ‘$1,000,000 billing in one year’ student, David Thaler (502-531-9890), a call. He will let you know what I did for him and what I can do for you to help you reach your maximum potential. If you are ready to invest in yourself and to receive the info you need, to bill at high levels, I can give you that information. Then it will be up to you to execute. The ball is in your court.
New for 2014, all of my coaching will be based on my new “TBMG 20 WEEK TRAINING FORMAT”. The syllabus for the format is available upon request.
*The descriptions of my coaching plans, and all of my products, are available to you on my website: www.themarshallplan.org or you can reach me at 770-898-5550 or email me at: 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.
January hiring picture for US not strong, SHRM report finds
Daily News, January 2, 2014
Hiring in the U.S. manufacturing sector is expected to decrease on a year-over-year basis in January, according to the leading indicators of national employment report released today by the Society for Human Resource Management. However, hiring in the service sector will increase.
“The somewhat mixed findings in the January LINE report point to a stronger service-sector hiring picture compared with manufacturing,” Jennifer Schramm, manager of workforce trends at SHRM, said in a press release. “But overall, most economists are predicting improved labor market conditions in 2014.”
The report’s survey found that 37.6% of service-sector companies plan to hire in January while 8.7% plan to reduce their workforces for a net increase of 28.9%, up from a net increase of 21.4% in January 2013.
Among manufacturing employers, 37.4% plan to add staff in January and 10.7% plan to cut their workforces for a net increase of 26.7%, down from a net increase of 31.2% in January 2013.
The report is based on a survey of human resource executives at more than 500 manufacturing and 500 service-sector firms.
Census: US employment services revenue flat over year
Daily News, December 12, 2013
The Census Bureau reported the U.S. employment services industry had revenue of $63,684,000,000 in the 3rd quarter. That’s roughly flat compared to the 3rd quarter of 2012 based on seasonally adjusted estimates. 3rd quarter revenue rose 0.4% from the 2nd quarter of this year.
Employment services include employment placement agencies, executive search firms, temporary employment agencies and professional employer organizations.
Census estimates of staffing industry revenue differ from other estimates.
CIO survey: 16% to add staff in first half of 2014
Daily News, December 10, 2013
16% of chief information officers plan to add staff to their IT departments in the first 6 months of 2014, according to the Robert Half Technology IT Hiring Forecast and Local Trend Report released today. That compares with 11% who said they planned to add IT staff in a 4th quarter survey.
67% of CIOs plan to hire only for open IT roles, up from 62% with similar plans from the 2nd half of 2013.
“We continue to see strong demand for IT professionals across the United States,” said John Reed, senior executive director of Robert Half Technology. “Professionals with skills in mobile applications development, data analytics and networking are in especially high demand.”
The IT hiring forecast for the 1st half of 2014 found:
- CIOs adding more staff to IT departments: 16%
- CIOs planning to hire only for open IT roles: 67%
- CIOs planning to put IT hiring plans on hold: 15%
- CIOs planning to reduce their IT staff: 2%
In the same survey, 88% of CIOs said they are somewhat or very confident about their companies’ prospects for growth in the first 6 months of 2014, and 69% said they are somewhat or very confident that their firms will invest in IT projects in the 1st half of the year.
Among the CIOs surveyed, 63% said it’s somewhat or very challenging to find skilled IT professionals today. 17% said it is most difficult to find skilled talent in the functional area of networking. Security and help desk/technical support followed with 14% and 13% respectively.
57% of U.S. technology executives surveyed said that network administration is among the skill sets in greatest demand within their IT departments. Windows administration and desktop support followed, each with 51% of the response.
The survey is based on more than 2,300 interviews with CIOs from a random sample of U.S. companies in 23 major metro areas.
Why the jobless rate is larger than you think
NBC News.com staff, December 5, 2013
The unemployment rate is a magic monthly number that economists, politicians and journalists love to obsess over. It’s one of the most closely watched economic indicators, but it’s far from the last word on jobs. Sure, it measures how many people in the work force didn’t have a job last month, but the work force only includes people who have a job or are actively looking for work.
So, if you are tired of looking for work and you’ve given up the hunt, you won’t get counted even though you are still unemployed. To get the bigger picture, economists use the Long Term Unemployment Rate to look a little further back.
If you have been out of work for 6 months or more and you’re still actively looking for work, this number applies to you. It’s a subset of a bigger unemployment number and basically a measure of how tough it is to find a new job.
Now, let’s say you have a part time job, even though you want to work full time. That’s yet another indicator. And there is a separate measure of how many adults are working or actively applying for jobs. That’s the Labor Force Participation Rate.
So, OK, what’s the ‘real ‘unemployment number? Well ‘real’ is pretty subjective, but if you add up all the unemployed people who want to work, but aren’t looking, plus all of the people who have given up, plus all the people working part-time, even though they want to work full-time, you get a much higher number.
(Editor’s Note: In December, 2013 the regular unemployment number was 6.7%, but that broader measure was 13.1%, almost twice as big as the regular unemployment figure.)
(Editor’s Note: The above is referred to as the U6 unemployment rate {found in the monthly BLS Employment Situation Summary, Table A-15}. 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 past 12 year’s U-6 numbers:
December 2013 13.1%
December 2012 14.4%
December 2011 15.2%
December 2010 16.6%
December 2009 17.2%
December 2008 13.7%
December 2007 8.7%
December 2006 7.9%
December 2005 8.6%
December 2004 9.3%
December 2003 9.9%
December 2002 9.9%
The new ADP/Moody’s National Employment Report
January 8, 2014
Private sector employment increased by 238,000 jobs from November to December, according to the December 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: 108,000
1-19 employees 55,000
20-49 employees 53,000
Medium businesses: 59,000
50-499 employees 59,000
Large businesses: 71,000
500-999 employees <-3,000>
1,000+ employees 74,000
By Sector
Goods producing 69,000
Service providing 170,000
Industry Snapshot
Construction 48,000
Manufacturing 19,000
Trade/transportation/utilities 47,000
Financial activities 10,000
Professional/business services 53,000
Goods-producing employment rose by 69,000 jobs in December, up from an upwardly revised figure of 46,000 in November. Construction had its best month since 2006, adding 48,000 to payrolls. Manufacturing was strong as well, but growth slowed slightly to 19,000 in December. Over the course of 2013, goods-producers added 286,000 jobs. Nearly 75% of these gains came from construction as the housing recovery accelerated throughout 2013.
Service-providing industries added 170,000 jobs in December, down slightly from an upwardly revised November figure of 182,000. The report indicates that professional/business services contributed the most to growth in service-providing industries, adding 53,000 jobs. This was the largest gain in the industry in a year. Expansion in trade/transportation/utilities slowed slightly, adding 47,000 jobs in December. Private payrolls increased by nearly 1,900,000 jobs in the service-providing industries in 2013. The bulk of this increase was split evenly between transportation/trade/utilities and professional/business services. Finance brought up the rear gaining just 59,000 in the last 12 months.
“The U.S. private sector added 238,000 jobs in December, surpassing November as the strongest month for job growth in 2013,” said Carlos Rodriguez, president and chief executive officer of ADP. “It’s encouraging news that hopefully bodes well for 2014.”
Mark Zandi, chief economist of Moody’s Analytics, said, “The job market ended 2013 on a high note. Job growth meaningfully accelerated and is now over 200,000 per month. Job gains are broad-based across industries, most notably in construction and manufacturing. It appears that businesses are growing more confident and increasing their hiring.”
(The January 2014 ADP National Employment Report will be released at 8:15 a.m. ET on February 5, 2014).
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 monthly in the ADP Small Business Report®, a subset of the ADP National Employment Report.
December 2013 Small Business Report Highlights
Total Small Business Employment: 108,000
| ●By Size |
|
| ►1-19 employees |
55,000 |
| ►20-49 employees |
53,000 |
|
|
|
| ●By Sector for 1-49 Employees |
|
| ►Goods Producing |
28,000 |
| ►Service Producing |
79,000 |
|
|
|
| ●By Sector for 1-19 Employees |
|
| ►Goods Producing |
15,000 |
| ►Service Producing |
40,000 |
|
|
|
| ●By Sector for 20-49 Employees |
|
| ►Goods Producing |
14,000 |
| ►Service Producing |
39,000 |
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 Structural Unemployment
On December 10th, the BLS reported that there were 3,900,000 job openings on the last business day of October, little changed from September. (The Job Openings and Labor Turnover Survey results for November 2013 are scheduled to be released on Friday, January 17th, 2013). The 3,900,000 reflects published openings comprised of jobs that are advertised either online or in print format.
The hires rate (3.3%) and separations rate (3.1%) were also little changed in October. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by geographic region.
As we recruiters know, that 3,900,000 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 3,900,000 published job openings now become a total of 19,500,000 published and hidden job orders.
In December there were 10,351,000 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 10,351,000 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 Up 125,600 in December
January 8, 2014
- December’s rise brings the 2013 gain to 27,000/month with greater growth in the last six months
- Demand rose in December in 36 of the 50 States
Online advertised vacancies were up 125,600 in December to 5,297,100, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series released today. The November Supply/Demand rate stands at 2.1 unemployed for each vacancy with a total of 5.7 million more unemployed workers than the number of advertised vacancies.
“In 2013, labor demand in the first half of the year was flat but was more upbeat in the last 6 months with gains in a number of occupations,” said June Shelp, Vice President of The Conference Board. In the June-December time frame advertised vacancies for workers in the professional category gained 117,000 after declining 50,000 in the first half. Advertised vacancies for workers in the service jobs gained 234,000 in the last half of the year following a gain of only 27,000 in the first half. “These gains have helped whittle the unemployment number as more and more workers found employment,” said Shelp. The overall demand for labor has hovered around 5,000,000 per month in 2013. The largest numerical gains in the last half of the year in the services/production group were for sales workers (+126,400) and transportation workers (+48,300); however, production workers (+8,000) and construction workers (-10,500) showed disappointing results. In the professional category, the largest gains were for managers (+49,100) and healthcare professionals (+36,600).
(The January 2013 Conference Board Help Wanted OnLine® (HWOL) Data Series will be released at 10:00 am ET on February 5th, 2014).
The December 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 January 10th, 2014, the BLS published the most recent unemployment rate for December, 2013 of 6.7% (actually it is 6.681, down .342% from 7.023% in November, 2013).
The unemployment rate was determined by dividing the unemployed of 10,351,000 (—down from the month before by 490,000—since December, 2012 this number has decreased by 1,922,000) by the total civilian labor force of 154,937,000 (down by 347,000 from November, 2013). Since December 2012, our total civilian labor force has decreased by 548,000 workers.
(The continuing ‘Strange BLS Math’ saga): The BLS continues to increase the total Civilian Noninstitutional Population—this time up to 246,745,000. In one year’s time this population has increased by 2,395,000. This is an increase of 178,000 from last month’s increase. The Civilian Noninstitutional Population has increased each month…
| 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 decreased the Civilian Labor Force to 154,937,000 (down from November by 347,000).
Subtract the second number (‘civilian labor force’) from the first number (‘civilian noninstitutional population’) and you get 91,808,000 ‘Not in Labor Force’—slightly worse than last month’s 91,273,000. Since December, 2012, 2,943,000 US workers have vanished! Where did those 2,943,000 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??”
Our Employment Participation Rate—the population 16 years and older working or seeking work—fell .2% to 62.8%. This is the lowest Employment Participation Rate recorded—other than last October’s historic low of 62.8%–since March 1978…just over one year into president Carter’s term of office, 36 years ago! One year ago, our Participation Rate in December was 63.6%.
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 December was 2.9% (this rate fell .2% from last month’s 3.1%). Or, you can look at it another way. We usually place people who have college degrees. That unemployment rate in December was 3.3% (this rate fell .1% from last month’s 3.4%).
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 below the 4-6% threshold for full employment…we find no unemployment! None! Zilch!
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 December 20th, the Bureau of Economic Analysis announced the third-quarter, “third” estimate, of our real gross domestic product (GDP) — the output of goods and services produced by labor and property located in the United States. GDP increased at an annual rate of 4.1% in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.1% (revised), down from 1.8% in the second estimate. In the second quarter, real GDP increased 2.5%.
The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued on December 5, 2013. In the second estimate, the increase in real GDP was 3.6%. With this third estimate for the third quarter, increases in personal consumption expenditures (PCE) and in nonresidential fixed investment were larger than previously estimated.
The increase in real GDP in the third quarter primarily reflected positive contributions from private inventory investment, PCE, exports, nonresidential fixed investment, exports, residential fixed investment, and state and local government spending that were partly offset by a negative contribution from federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
The acceleration in real GDP growth in the third quarter primarily reflected an acceleration in private inventory investment, a deceleration in imports, and accelerations in state and local government spending and in PCE that were partly offset by decelerations in exports.
The next GDP releases, for the Fourth Quarter and Annual 2013 (Advance Estimate), will be on January 30th, 2014.
The economy needs to expand at about 3% just to keep the unemployment rate from rising. Two consecutive quarters of a falling GDP indicate Recession.
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.
2. 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.
3. 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.
4. 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.
5. 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. Just recently the government re-extended the eligibility for unemployment benefits from 26 weeks to as much as 73 weeks. Studies suggest that this reduces the incentive of the unemployed to seek and accept less desirable jobs.
2. 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 December “management, professional and related” types of worker category, you will find the following rates:
December 2012 3.9%
December 2011 4.2%
December 2010 4.6%
December 2009 4.6%
December 2008 3.3%
December 2007 2.0%
December 2006 1.7%
December 2005 2.0%
December 2004 2.5%
December 2003 2.8%
December 2002 2.8%
Here are the rates, during those same time periods, for “college-degreed” workers:
December 2012 3.9%
December 2011 4.0%
December 2010 4.8%
December 2009 4.9%
December 2008 3.7%
December 2007 2.1%
December 2006 1.9%
December 2005 2.2%
December 2004 2.5%
December 2003 3.0%
December 2002 2.9%
So, while December’s 2013 rates for these two categories, 2.9% and 3.3%, respectively, are trending 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 2002-2008 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 job orders and we still need to recruit to find the best 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% |
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% |
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% |
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 |
|
3.7% |
3.8% |
3.8% |
3.9% |
3.8% |
3.9% |
3.8% |
3.5% |
3.7% |
3.8% |
3.4% |
3.3% |
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% |
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 |
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 |
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 |
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% |
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% |
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% |