Bob Marshall’s June 2013 BLS Analysis; 7/5/13
June BLS Preface
TBMG News
Due to increased requests, I have added an hourly ‘a la carte’ coaching program to my list of coaching programs*. Here are the details:
I. Coaching – 3-month Platinum Plan
This is a 3-month plan. In this plan, I will put in place all of the tools that you will need to become a profitable recruiter. My five major products (training manual, daily planner, QRG, forms and the ‘Classics’ audio series) are included in this selection. We will have a meeting, up to one hour, once per week and I will be available to continually work with you and answer your questions on a weekly, 8am-5pm basis. Admission into the Illuminati Think Tank series is included, with access to select past recordings.
–$6000 (Three Month Commitment – prepaid via PayPal)
II. Coaching – 1-month Gold Plan
This is a month-to-month plan. In this plan, I will be available to you for 4 separate meetings, up to one hour, to be parceled out as you choose, but must be used within a 4-5 week period. Admission into the Illuminati Think Tank series is included.
–$1000 (One Month Commitment – prepaid via PayPal)
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This is an hourly ‘a la carte’ plan. Once you have selected a date/time for our one hour meeting, (for coaching and/or training) and confirmed that date/time with me (and prepaid via PayPal), this plan goes into effect. After the meeting, you are also entitled to follow-up emails during the next five days.
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*All the details of my coaching plans, and 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.
Here is my immediate training schedule, as of July 6th, 2013:
July 10th, 2013
The Inter-City Personnel Associates (IPA), Menasha, WI, “Recruiting the ‘Placeable’ Candidate”, teleconference, recorded, 1pm, EST.
July, 2013
RecruiterTraining OnLine.com, Mark Whitby, Scotland, “Establishing Elegant Rapport Through Elegant Communication”, webinar, date and time in July, TBD.
September, 2013
Portland, OR and San Diego, CA, TBD.
For those of you who live and work in Oregon or Southern California and are interested in in-office training in September, give me a call and I will make you a special offer, since I will already be in your general vicinity.
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 write down 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.
CareerBuilder: 27% report unwanted employee
Daily News, June 12 2013
27% of bosses have a current direct report that they would like to see leave their company, according to a study from CareerBuilder. Results were nearly equal by gender but varied significantly by age, with younger managers ages 25 to 34 more likely to report having an employee they would like to leave than managers older than 55 by a margin of 8%: 32% to 24%, respectively.
“It’s important that managers be as direct as possible when dealing with employees that, for whatever reason, aren’t a good fit for their teams,” said Rosemary Haefner, vice president of human resources for CareerBuilder. “Fortunately, a plurality of managers in our survey were open to confronting the situation through a formal discussion or warning; however, some will do nothing at all, or even resort to passive aggressive behaviors that can only prolong a negative working arrangement. It’s important that workers be aware of such warning signs, and if necessary, take steps to improve their situations.”
When dealing with an employee they would like to leave, 42% of managers are likely to issue a formal warning. Other things managers say they are more likely to do that may serve as a red flag for workers include:
- Point out shortcomings in employee’s performance more often: 27%
- Reduce responsibilities: 21%
- Hire someone else to eventually replace the employee: 12%
- Move the employee to another work area: 8%
- Keep employee out of the loop regarding new company developments: 8%
- Communicate primarily via email instead of in person or over the phone: 7%
- Don’t invite the employee to certain meetings or involve him/her in certain projects: 6%
- Don’t invite the employee to social gatherings with co-workers: 3%
- None of the above: 32%
The survey was conducted online by Harris Interactive on behalf of CareerBuilder among 2,184 hiring managers and human resource professionals. The survey was conducted between Feb. 11 and March 6, 2013.
ADP breaks out job growth by region
Daily News, June 12 2013
Private-sector employment increased on a seasonally adjusted basis in May in all 9 U.S. Census Bureau divisions, according to ADP’s 2nd monthly regional employment report. Texas, Florida, California, Georgia and North Carolina recorded the largest job gains during the month. Among the 29 individual U.S. states, plus the District of Columbia, tracked by the report, all but Kentucky and Michigan recorded gains of varying degrees.
“All 9 U.S. Census Bureau Divisions recorded private sector job growth in May, with the South Atlantic, West South Central and Pacific leading the way and generating a combined total of 81,000 jobs,” said Ahu Yildirmaz, senior director of the ADP Research Institute.
Jobs added, by state:
- Alabama: 1,340
- Arizona: 4,690
- California: 10,460
- Colorado: 2,970
- Connecticut: 360
- Florida: 17,440
- Georgia: 5,770
- Idaho: 1,100
- Illinois: 3,480
- Indiana: 2,600
- Kentucky: -40
- Maryland: 4,540
- Massachusetts: 2,200
- Michigan: -1,140
- Minnesota: 2,440
- Nevada: 910
- New Jersey: 1,240
- New York: 4,760
- North Carolina: 5,020
- Ohio: 1,500
- Oregon: 1,770
- Pennsylvania: 2,990
- South Carolina: 1,680
- Tennessee: 2,440
- Texas: 18,850
- Utah: 1,040
- Virginia: 4,230
- Washington: 3,280
- Washington D.C.: 420
- Wisconsin: 4,590
ADP and Moody’s Analytics Inc. derived the report from an anonymous subset of about 406,000 U.S. business clients, which employ more than 23,000,000 U.S. workers.
The new ADP/Moody’s National Employment Report;
73.9% of all new job growth in June comes from Small and Mid-size Companies
Released, July 3, 2013
Private sector employment increased by 188,000 jobs from May to June, according to the June ADP National Employment Report®, which is produced by ADP®, a leading provider of human capital management 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. May’s job gains were revised downward to 134,000 from 135,000.
By Company Size
Small businesses: 84,000
1-19 employees 54,000
20-49 employees 31,000
Medium businesses: 55,000
50-499 employees 55,000
Large businesses: 49,000
500-999 employees 12,000
1,000+ employees 37,000
By Sector
Goods producing 27,000
Service providing 161,000
Industry Snapshot
Construction 21,000
Manufacturing 1,000
Trade/transportation/utilities 43,000
Financial activities 13,000
Professional/business services 40,000
Goods-producing employment rose by 27,000 jobs in June, its largest increase in four months. Construction payrolls rose by 21,000 in June, it biggest gain since January, while manufacturers added 1,000 jobs following a two-month decline.
The service-providing sector added 161,000 jobs in June, its largest increase since February and greater than the sector’s average gain of 146,000 through the first five months of the year. Among the service industries reported in the report, trade/transportation/utilities added the most jobs with 43,000 over the month – its strongest increase since the start of 2013. Professional/business services grew by 40,000 jobs, and financial activities added 13,000 jobs, nearly double the average monthly pace through the first five months of the year.
“During the month of June, the U.S. private sector added 188,000 jobs, driven by gains across all sizes of businesses, and with small companies showing the largest overall monthly increase,” said Carlos A. Rodriguez, president and chief executive officer of ADP. “Most notably, the goods-producing sector added 27,000 jobs in June, a marked improvement over the decline the previous month.”
Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to gracefully navigate through the strongly blowing fiscal headwinds. Health Care Reform does not appear to be significantly hampering job growth, at least not so far. Job gains are broad based across industries and businesses of all sizes.”
(The July 2013 ADP National Employment Reportwill be released at 8:15 a.m. ET on July 31, 2013).
ADP Small Business Report®:
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.
June 2013 Small Business Report Highlights*
Total Small Business Employment: 84,000
|
●By Size |
|
|
►1-19 employees |
54,000 |
|
►20-49 employees |
31,000 |
|
●By Sector for 1-49 Employees |
|
|
►Goods Producing |
14,000 |
|
►Service Producing |
70,000 |
|
●By Sector for 1-19 Employees |
|
|
►Goods Producing |
8,000 |
|
►Service Producing |
45,000 |
|
●By Sector for 20-49 Employees |
|
|
►Goods Producing |
6,000 |
|
►Service Producing |
25,000 |
* Sum of components may not equal total, due to rounding.
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 June 11th, the BLS reported that there were 3,800,000 job openings on the last business day of April, little changed from 3,900,000 in March. (The Job Openings and Labor Turnover Survey results for May 2013 are scheduled to be released on Tuesday, July 9th, 2013). The 3,800,000 reflects published openings comprised of jobs that are advertised either online or in print format.
The hires rate (3.3%) and separations rate (3.2%) also were little changed in April. 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 3,800,000 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 3,800,000 published job openings now become a total of 19,000,000 published and hidden job orders.
In June there were 11,777,000 unemployed workers. What was the main reason why those job openings were open? Two Words: Structural Unemployment. If we can’t figure out how to educate and/or reeducate those 11,777,000 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 52,900 in June
July 3, 2013
- Modest June gains not enough to end the bumpy first six months of 2013
- Labor demand is flat from January – June 2013
- NOTE: May 2013 data were revised
Online advertised vacancies rose 52,900 in June to 4,980,300, according toThe Conference Board Help Wanted OnLine® (HWOL) Data Series released today. In the first six months of 2013, labor demand rose an average of 800 per month. The Supply/Demand rate stands at 2.4 unemployed for each vacancy. In May there were 6,800,000 more unemployed than the number of advertised vacancies, down from 11,900,000 at the end of the recession in June 2009.
“Labor demand in the first half of this year has been disappointing,” said June Shelp, Vice President of The Conference Board. Two bright months (January and April) have been offset by declines or modest gains in the other four months of the first half of 2013.
While labor demand is well above its pre-recession high, the strong upward trend since 2009 has stalled with 19 of the 20 largest States either flat or down in the first half of 2013. Arizona is the only large State with a positive trend. This year, the construction trades have been relatively strong with construction up 11% and maintenance & repair rising 8%. Online demand has been weak this year for many of the higher-wage professional occupations (healthcare professionals, architecture, business and finance, and computer workers) as well as occupations with more modest wages (personal care, sales, production workers, and office workers).
The June 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 July 5th, 2013, the BLS published the most recent unemployment rate for June, 2013 of 7.6% (actually it is 7.557, up .002% from 7.555% in May, 2013).
The unemployment rate was determined by dividing the unemployed of 11,777,000—up from the month before by 17,000—since June, 2012 (one year ago) this number has decreased by 924,000) by the total civilian labor force of 155,835,000 (up by 177,000 from May, 2013). Since June 2012, our total civilian labor force has increased by 686,000 people.
(The continuing ‘Strange BLS Math’ saga): The BLS continues to increase the total Civilian Working Population—this time up to 245,552,000. In one year’s time this population has increased by 2,397,000. This is the same as last month’s one-year increase. It has increased each month…
| Up from May2013 | 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 have increased the Civilian Labor Force to 155,835,000 (up from May by 177,000).
Subtract the second number (‘civilian labor force’) from the first number (‘civilian working population’) and you get 89,717,000 ‘Not in Labor Force’. That is a increase of 12,000 ‘Not in Labor Force’ in one month’s time! Since June 2012, 1,711,000 US workers have vanished! Where did those 1,711,000 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 have any money because they don’t have a job???”
Our Employment Participation Rate—the population 16 years and older working or seeking work—rose .1% to 63.5%. One year ago, our Participation Rate in June was 63.8%.
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 June was 4.2% (this rate rose sharply, .7%, from last month’s 3.5%). Or, you can look at it another way. We usually place people who have college degrees. That unemployment rate in June rose to 3.9% (up from last month’s 3.8%).
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 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 June 26th, the Bureau of Economic Analysis announced the first-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 — increased at an annual rate of 1.8% in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.4%.
The GDP estimate is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, real GDP increased 2.4%. With the third estimate for the first quarter, the increase in personal consumption expenditures (PCE) was less than previously estimated, and exports and imports are now estimated to have declined.
The increase in real GDP in the first quarter primarily reflected positive contributions from PCE, private inventory investment, and residential fixed investment that were partly offset by negative contributions from federal government spending, state and local government spending, and exports. Imports, which are a subtraction in the calculation of GDP, decreased
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 June “management, professional and related” types of worker category, you will find the following rates:
June 2012 4.4%
June 2011 4.7%
June 2010 4.9%
June 2009 5.0%
June 2008 2.7%
June 2007 2.3%
June 2006 2.4%
June 2005 2.6%
June 2004 2.9%
June 2003 3.5%
June 2002 3.3%
Here are the rates, during those same time periods, for “college-degreed” workers:
June 2012 4.1%
June 2011 4.4%
June 2010 4.4%
June 2009 4.7%
June 2008 2.4%
June 2007 2.0%
June 2006 2.1%
June 2005 2.3%
June 2004 2.7%
June 2003 3.1%
June 2002 3.0%
So, while June’s 2013 rates for these two categories, 4.2% and 3.9%, 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% |
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% |
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% |
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% |
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% |
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 |
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 |
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 |
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% |
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% |
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% |