BLS Analysis for March 2013

Bob Marshall’s BLS Analysis; 4/5/13

 

March BLS Preface

 

TBMG News

 

FYI, here is my 2013 travelling training schedule for the next couple of months. Hope to see you at some of these venues:

April 27, 2013

Top Echelon Network National Convention, St. Petersburg, FL, “Script This”;

May 3, 2013

New England Association of Personnel Services (NEAPS), Newport, RI, “Your Desk as a Manufacturing Plant” for recruiters and “How to Teach a Recruiter to Bill $1,010,349.50 in One Year” for owner/managers;

May 16, 2013

Indiana Search and Staffing Association (ISSA), Indianapolis, IN; “Your Desk as a Manufacturing Plant”; “Establishing Elegant Rapport through Elegant Communication” and “How to Teach a Recruiter to Bill $1,010,349.50 in One Year”;

June and/or July, 2013

Portland, OR and San Diego, CA, TBD.

For those of you who live and work in Oregon and Southern California, and for any of you who are near the areas I will be visiting in April and May, and are interested in in-office training, give me a call and I will make you a special offer, since I will already be in your general vicinity.  Thanks!

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.

 

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.

 

 

Survey:  Small businesses delay hiring plans

Daily News, April 4^th, 2013

U.S. small and mid-sized business owners plan to delay hiring new employees, according to the biannual PNC economic outlook survey released April 4, 2013.  15% of small and mid-sized businesses expect to hire full-time employees, down from 28% in spring 2012 and 23% in fall 2012.  75% expect hiring to remain the same and 8% expect a decrease.  Of those hiring, one in four intend to rehire formerly laid-off employees or hire temporary staff for short-term needs.

The outlook about the U.S. economy during the next 6 months improved — 58% are optimistic and 41% are pessimistic — in a turnaround from fall’s 42% and 57%, respectively.

The telephone survey was conducted between Jan. 23 and Feb. 15, 2013 within the United States among 1,718 owners or senior decision-makers of small and mid-sized businesses with annual revenues of $100,000 to $250,000,000.

 

Building Your Search Firm

Indian Wells, CA – March 20^th, 2013

“One thing I would like to share with you.  In building my company to be the undisputed # 1 search firm in the market category of our specialty, I continued to recruit and did all parts of the business even as I added staff.   It is only an owner who knows all the business who can get the best out of the organization and be able to help and guide.  I never understood an owner who pulled away from the business and became an administrator.”

 

“To run one of these businesses well, you have to keep refining the process to fit changing market conditions… and you have to be deep in the market to feel those changes.”

–Dr. Ward Fredericks

 

 

ExecuNet:  Positive attitude = job offer

Daily News, March 26^th, 2013

Nearly 88% of 3,785 senior-level executives surveyed said they would rather enhance their team with an individual who possesses a good attitude, even if the candidate does not perform to the highest level or have top qualifications. Only 6% of the surveyed executives said they would accept an A-player’s bad attitude, and another 6% were unsure.

“In reviewing initial data from our 21st annual executive job market intelligence survey, we’re finding there is a dramatic attitudinal contrast between those who are happy at work and those who are not,” Robyn Greenspan, ExecuNet’s chief content officer.  “Negativity can quickly become contagious in an organization and drag down performance.  B-players with great attitudes can likely become A-players in the right environment.”

ExecuNet surveyed more than 3,500 executives in late January and early February 2013.

 

Skills gap hinders productivity, revenue

Daily News, March 20, 2013

The growing deficit of skilled labor needed to fill in-demand jobs hinders employers worldwide, according to survey results released by CareerBuilder.  Employers in the world’s 10 largest economies said that extended job vacancies yielded lower revenue and productivity and the inability to grow their businesses.

Employers in Brazil, Russia, India and China reported the most challenges in recruiting high skill labor, with more than half of employers stating they currently have positions for which they can’t find qualified candidates. China led the contingent, with 74 percent companies reporting open positions they can’t fill.  Russia counts the largest percentage of employers reporting a revenue shortfall tied to extended job vacancies, while the United States is among those most likely to report a productivity loss.

“The inability to fill high skill jobs can have an adverse ripple effect, hindering the creation of lower-skilled positions, company performance and economic expansion,” said Matt Ferguson, CEO of CareerBuilder. “Major world economies are feeling the effects of this in technology, healthcare, production and other key areas.  The study underlines how critical it is for the government, private sector and educational institutions to work together to prepare and reskill workers for opportunities that can help move the needle on employment and economic growth.”

Results for U.S. companies included:

• Percentage of companies that have open positions they can’t fill:  28%
• Negative impact of positions that stay open too long:  38%
• Loss of productivity:  41%
• Loss of revenue:  21%
• Inability to grow their business:  22%
• Hardest to fill positions for skilled labor: Information technology, sales and engineering

Careerbuilder’s survey was conducted online within the United States, Brazil, China, France, Germany, India, Italy, Japan, Russia and the U.K. by Harris Interactive among 6,000 hiring managers and human resource professionals between Nov.1 and Nov. 30, 2012.

 

Bullhorn

Bullhorn’s own recent 2013 Trends Survey in North America focused exclusively on 1,848 staffing recruiters, who admitted that the biggest challenge facing the industry in 2013 is a lack of skilled candidates. Additionally, 76.1% of respondents claimed to have a “shortage of skilled candidates” in their respective recruiting sectors, with IT being most heavily represented.

TEKsystems:  69% say IT demand will always exceed supply

Daily News, March 27^th, 2013

Demand for IT professionals will always outpace supply, said 69% of IT professionals surveyed by TEKsystems. And 56% believe that there is a shortage of IT professionals in the U.S.

IT professionals rank good pay as the best thing about their career field, followed by exciting, cutting edge work and sustainability of the field, according to the survey. Google, Apple, Microsoft, IBM and The Walt Disney Co. ranked as the top-five companies that IT professionals would like to work, mainly because of their cutting-edge technology and corporate culture/values.

“IT professionals are looking for more than a simple paycheck when choosing a job in their field, and prospective employers will continue to face stiff competition from other companies trying to recruit from the same pool of top IT talent,” said Jason Hayman, market research manager at TEKsystems. “Companies can ensure that they are attracting the best candidates for their IT staff by actively demonstrating their employee value proposition and understanding what is most important to IT workers.”

TEKsystems’ research reflects the views of more than 2,400 IT professionals across all industries.

 

The new ADP/Moody’s National Employment Report

Released, April 3, 2013

Private sector employment increased by 158,000 jobs from February to March, according to the March 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.  Revisions to job gains in the two prior months were offsetting:  February’s gain of 198,000 jobs was revised up by 39,000 to 237,000, and January’s 215,000 gain was revised down by 38,000 to 177,000.

By Company Size

Small businesses: 74,000

1-19 employees 44,000

20-49 employees 30,000

Medium businesses: 37,000

50-499 employees 37,000

Large businesses: 47,000

500-999 employees 27,000

1,000+ employees 20,000

By Sector

Goods producing 7,000

Service providing 151,000

Industry Snapshot

Construction 0

Manufacturing 6,000

Trade/transportation/utilities 22,000

Financial activities 9,000

Professional/business services 39,000

Goods-producing employment rose by 7,000 jobs in March, its slowest pace of growth in six months.  Construction added no net jobs over the month; this follows average monthly gains of 29,000 in the three months prior.  Meanwhile, manufacturers added 6,000 jobs.

Service-providing jobs increased by 151,000.  Among the service industries reported in the report, professional/business services had the largest gain with 39,000 jobs added over the month.  Trade/transportation/utilities added 22,000 jobs and financial activities added 9,000 jobs.

“The U.S. private sector added 158,000 jobs in the month of March 2013, with the majority of the new jobs created by service providers,” said Carlos A. Rodriguez, president and chief executive officer of ADP.  “Over the first quarter of 2013, the ADP National Employment Report has reported an average gain of 191,000 new private sector jobs per month.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth moderated in March.  Construction employment gains paused as the rebuilding surge in the wake of Superstorm Sandy ended.  Anticipation of Health Care Reform may also be weighing on employment at companies with close to 50 employees.  The job market continues to improve, but in fits and starts.”

(The April 2013 ADP National Employment Report will be released at 8:15 a.m. ET on May 1, 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.

March 2013 Small Business Report Highlights*

Total Small Business Employment:             74,000

●By Size
►1-19 employees	44,000
►20-49 employees	30,000
●By Sector for 1-49 Employees
►Goods Producing	-1,000
►Service Producing	74,000
●By Sector for 1-19 Employees
►Goods Producing	0
►Service Producing	44,000
●By Sector for 20-49 Employees
►Goods Producing	0
►Service Producing	30,000

* 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 March 12^th, the BLS reported that there were 3,700,000 job openings on the last business day of January, little changed from December (3,600,000).  (The Job Openings and Labor Turnover Survey results for February 2013 are scheduled to be released on Tuesday, April 9, 2013).  The 3,700,000 reflects published openings comprised of jobs that are advertised either online or in print format.

The number of openings rose in professional and business services but decreased in health care and social assistance; the number was little changed in all remaining industries and in all four regions in January.

As we recruiters know, that 3,700,000 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 3,700,000 published job openings now become a total of 18,500,000 published and hidden job orders.

In March there were 11,742,000 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 11,742,000 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 down 158,000 in March

April 3, 2013

 

$1·         Labor demand down 77,000 in Q1 of 2013

$1·         Q1’13 decline follows three years of strong Q1 growth since the end of the recession

$1·         March is mixed with drops in Healthcare, Sales, and Office workers outstripping increases in Management, Business, and Computer workers

Online advertised vacancies dropped 158,000 in March to 4,898,700 in The Conference Board Help Wanted OnLine® (HWOL) Data Series released April 3, 2013. The March drop follows a small dip in February (44,400); the two combined offset the January gain.  The Supply/Demand rate stands at 2.4 unemployed for every vacancy. In February, there were 7 million more unemployed than the number of advertised vacancies, down from 11.9 million at the end of the recession in June 2009.

“Labor demand has been up and down for the last six months, leaving the new March level basically the same as it was in September 2012,” said June Shelp, Vice President at The Conference Board.

Sequestration, along with the indecision in Washington, has most likely taken its toll with employers in many industries hesitating to aggressively look for new workers.  The unevenness in labor demand continues with unemployed workers in healthcare professions and business professions like computers, business, and finance finding ample job opportunities.  Competition is stiffer with anywhere from 2 to 4 unemployed for every available opening in many lower-paying occupations (sales workers, office workers, food workers, transportation workers).

All 4 regions declined in March.  19 of the 20 largest States (all but PA) declined.

The March 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 April 5^th, 2013, the BLS published the most recent unemployment rate for March, 2013 of 7.6% (actually it is 7.574% down .162% from  7.736%, in February, 2013).

The unemployment rate was determined by dividing the unemployed of 11,742,000—down from the month before by 290,000—since March, 2012 (one year ago), this number has decreased by 944,000) by the total civilian labor force of 155,028,000 (down by 496,000 from February, 2013).  Since March 2012, our total civilian labor force has increased by 321,000 people.

 

(The continuing ‘Strange BLS Math’ saga):  The BLS continues to increase the total Civilian Working Population—this time up to 244,995,000.  In one year’s time this population has increased by 2,391,000.  It has increased each month…

 

 

And this month the BLS have decreased the Civilian Labor Force to 155,028,000 (down from February by 496,000). 

 

Subtract the second number from the first number and you get 89,967,000 ‘Not in Labor Force’.  That is an increase of 663,000 ‘Not in Labor Force’ in one month’s time!  Since March 2012, 2,069,000 US workers have vanished!  Where did those 2,069,000 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?

 

Maybe now it’s understandable why the number of people receiving food stamps in the US, as of March 8, 2013, has risen to 47,800,000.  While Clinton took 8,200,000 off of food stamps, Bush 43 added 11,000,000 and, so far, Obama has added 18,400,000!

 

Another point to ponder:  If the one month increase in the ‘Not in Labor Force’ (663,000) is added to March’s ‘Unemployed’ (11,742,000), you get 12,405,000.  Divide that number by March’s ‘Civilian Labor Force’ and you get an 8.002% Unemployment Rate—almost exactly the same rate as January’s Unemployment Rate of 7.924%.  By taking those 663,000 so-called ex-workers out of the unemployed group, the BLS was able to manipulate the Unemployment Rate—and lower it by 1/10ths of 1%.  As Mark Twain would say, “There are lies, damn lies, and statistics.”

 

Our Employment Participation Rate—the population 16 years and older working or seeking work—dropped dramatically to 63.3%.  This is the lowest Employment Participation Rate recorded since May 1979…when Carter was President, 34 years ago!  One year ago, our Participation Rate in March 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 March dropped to 3.6% (this rate fell from last month’s 3.8%).  Or, you can look at it another way.  We usually place people who have college degrees.  That unemployment rate in March remained at 3.8% (the same as 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 March 28^th, the Bureau of Economic Analysis announced that the “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 0.4% in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter).

The GDP “third” estimate is based on more complete source data than were available for the “second” estimate issued last month.  In that estimate real GDP increased 0.1%.  While nonresidential fixed investment was higher than previously estimated, the revision to GDP has not changed the general picture of the economy.

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.

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.  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.

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 March “management, professional and related” types of worker category, you will find the following rates:

March 2012                 4.2%

March 2011                 4.3%

March 2010                 4.7%

March 2009                 4.2%

March 2008                 2.1%

March 2007                 1.8%

March 2006                 2.1%

March 2005                 2.3%

March 2004                 2.7%

March 2003                 2.9%

March 2002                 2.8%

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

March 2012                 4.2%

March 2011                 4.4%

March 2010                 4.8%

March 2009                 4.4%

March 2008                 2.1%

March 2007                 1.8%

March 2006                 2.2%

March 2005                 2.4%

March 2004                 2.9%

March 2003                 3.1%

March 2002                 2.8%

So, while March’s 2013 rates for these two categories, 3.6% and 3.8%, 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%

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%

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%

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%

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%

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

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

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

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%

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%

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%