BLS Analysis for May 2013

Bob Marshall’s May 2013 BLS Analysis; 6/7/13

May BLS Preface

TBMG News

One-on-one coaching slots are still available.

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, so far:

June 5, 2013

The Inter-City Personnel Associates (IPA), Menasha, WI, “The Importance of Marketing”, teleconference, recorded, 1pm, EST.

June, 2013

RecruiterTraining OnLine.com, Mark Whitby, Scotland, “Establishing Elegant Rapport Through Elegant Communication”, webinar, date and time in June, 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.

 

Survey:  Hiring plans up in second half of year

Daily News, June 4, 2013

A majority of hiring managers, 52%, plan to hire more professionals in the 2^nd half of 2013 than they did in the 1^st half, up from 46% who said they planned to increase hiring in the first 6 months of 2013, according to a national survey conducted by job board operator Dice Holdings Inc.

The survey also found that 39% of hiring managers and recruiters say voluntary departures have increased this year — motivated by increased salaries, better career opportunities elsewhere, and better job title or promotion — up from 32% who reported increasing quits 6 months ago.

51% of the respondents with less than 50 employees said their company was not making plans to keep headcount below 50 employees because of the Health Care for America Plan, compared to 17% of small company respondents that were taking steps to stay under that level.  However, when looking at shifts in the types of hiring in 2013, employers, regardless of size, anticipate using more contractors, temporary staffing and part-time employees than 6 months ago.

On sequestration, 64% said the mandatory spending cuts had no impact on their business, 15% suffering a direct effect and 21% reported an indirect impact.

“Hiring managers and recruiters are perpetually more optimistic about the 2^nd half of the year, but this is the first notable increase we’ve seen in confidence from professionals,” said Scot Melland, chairman, president and CEO of Dice Holdings. “That said, we will likely continue to have modest job creation for the balance of the year due to slow economic growth, continued challenges in finding qualified talent and the negative impacts from sequestration that go beyond defense to key sectors like healthcare, technology, consulting, education, non-profits and manufacturing.”

Dice Holdings surveyed U.S. companies, government entities and recruiting firms nationwide from May 14 to May 17, 2013.  More than 1,100 hiring professionals responded to the survey.

 

Survey:  Higher demand for engineering jobs

 Daily News, May 21, 2013

73% of employers who hire engineering talent are likely to hire over the next 60 days, according to Monster Worldwide Inc.’s ‘Recruiting for Engineering Talent’ study.

However, the survey found employers are not confident in their ability to acquire all the talent needed.

39% of employers hiring engineering talent are confident they will be able to staff all their engineering job opportunities. Hiring challenges include a small talent pool with a lack of qualified candidates (74%), driven by highly specialized job requirements (56%), and non-competitive salaries (44%).

 “Demand for engineers remains positive over the past year,” said Jeffrey Quinn, vice president, global Monster insights.  “Our recent survey reveals that there is both a need for a variety of engineers, including industrial and mechanical engineers, and higher activity by potential candidates.  On average, engineering jobs posted to Monster see 44% more views today than the same period a year ago.”

According to Monster internal data for the past 120 days, the top 10 engineering job opportunity occupations are:

1. Industrial engineers
2. Mechanical engineers
3. Electrical engineers
4. Civil engineers
5. Electronics engineers (except computer)
6. Electronic engineering technicians
7. Industrial safety and health engineers
8. Industrial engineering technicians
9. Computer hardware engineers
10. Aerospace engineers

Monster surveyed 200 employers who expect to recruit engineering talent in the next 12 months via an online survey. The engineering-related survey ran for 2 weeks in the months of January and February 2013.

 

Survey: 75% plan to hire MBA grads

Daily News, May 24 2013

 

75% of employers plan to hire MBAs in 2013, up from 71% that hired MBAs in 2012, according to the Graduate Management Admission Council 2013 corporate recruiter’s survey.

The proportion of employers planning to hire other types of business school graduates is up from last year for master in management, master of accounting, master of finance, as well as other specialized business master’s.

Other findings include:

• U.S. employers expect to pay new MBAs a median salary of $95,000, up from $90,000 last year, although salaries vary substantially by region of work. This represents a $43,000 premium compared with the earnings for bachelor’s degree-holders among U.S. employers.

• Employers worldwide expect to hire an average of 14.6 new MBAs, up from the 11.4 they hired last year.

• Sectors in which more employers worldwide plan to hire MBAs this year than in 2012 include: energy/utilities (86%, up from 69% in 2012); healthcare (89%, up from 77% in 2012); and consulting (79%, up from 69% in 2012).

The 2013 global management education graduate survey, a companion student exit survey, found that 60% of those seeking jobs had at least one offer in February or March, compared to 62% for class of 2012. 

Job-related findings from that survey include:

•  Although fewer full-time two-year MBAs had early job offers this year than last (61%, compared with 64% last year), the percentage of master of accounting graduates with job offers was 76%, up from 65% surveyed last year.

• 54% of graduates searching for jobs in the finance/accounting industry had offers, down from 61% last year.

• More career-switching graduates are entering the consulting, healthcare and energy/utilities fields than leaving. By contrast, more career-switching graduates are leaving the products and services, manufacturing, nonprofit/government and technology sectors than entering them.

The Graduate Management Admission Council, the European Foundation for Management Development and the MBA Career Services Council surveyed 935 employers in 50 countries for the corporate recruiter’s survey; 53% of respondents were from the United States. The 2013 global management education graduate survey included 5,331 graduating students attending 159 universities in 33 countries.

 

Survey:  Image problem challenges millennials

Daily News, May 28 2013

82% of millennials (ages 19-26) self-identify as being loyal to an employer while only 1% of human resources professionals believe them to be so, according to a survey by Beyond.com, an operator of a network of online job boards.

Other conflicting viewpoints from the survey included:

•  86% of HR professionals said millennials are tech-savvy, but only 35% of millennials felt they were tech-savvy.
• 60% of millennials thought they would work well with a team but only 22% of HR professionals believed millennials would make good team players.
• 65% of millennials responded that they relate well to others but only 14% of HR Professionals thought that millennials were strong communicators.
• 86% of millennials identified themselves as a hard worker while 11% of HR professionals thought millennials would work hard.
• 40% of millennials identified themselves as leaders but only 9% of HR professionals believed that age group had the ability to lead.

“Until millennials are able to overcome existing stereotypes, they’ll have to work extra hard just to get noticed,” said Rich Milgram, founder and CEO of Beyond.com — The Career Network. “Younger job seekers don’t have it easy in the current economy, and they’ve been put in a hole by the generations that have gone before them. Nowadays, it’s not good enough to be good enough — millennials need to match their vision of success with the work ethic that it will take to get there; meaning advanced education, internships and a willingness to go beyond what’s expected.”

The national survey included 6,000 job seekers and veteran HR professionals.

 

The new ADP/Moody’s National Employment Report

Released, June 5, 2013

Private sector employment increased by 135,000 jobs from April to May, according to the May 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.  April’s job gains were revised downward to 113,000 from 119,000.

By Company Size

Small businesses: 58,000

1-19 employees 37,000

20-49 employees 21,000

Medium businesses: 39,000

50-499 employees 39,000

Large businesses: 39,000

500-999 employees 6,000

1,000+ employees 33,000

By Sector

Goods producing

Service providing 138,000

Industry Snapshot

Construction 5,000

Manufacturing

Trade/transportation/utilities 31,000

Financial activities 7,000

Professional/business services 42,000

The goods-producing sector shed a total of 3,000 jobs in May.  Although construction payrolls rose by 5,000 in May, on top of an increase of 8,000 jobs in April, the manufacturing industry recorded a total loss of 6,000 jobs in May.

Service-providing industries added 138,000 jobs in May, an improvement over the April gain of 113,000.  However, the gains in May are below the average monthly gain of 156,000 during the first quarter. Among the service industries reported in the report, professional/business services added 42,000 jobs added over the month, more than twice as many as in April.  Trade/transportation/utilities recorded a gain of 31,000 jobs, while financial activities added 7,000 jobs.

“U.S. private sector employment increased by 135,000 jobs during the month of May 2013, a slight increase over the previous month of April,” said Carlos A. Rodriguez, president and chief executive officer of ADP.  “The majority of new jobs in May came from the service-providing sector, which added a total of 138,000 jobs, while the goods-producing sector recorded a loss of 3,000 jobs.  Notably, a gain of 5,000 jobs in the construction industry during May was offset by a decline of 6,000 lost jobs in the manufacturing industry.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to expand, but growth has slowed since the beginning of the year.  The slowdown is evident across all industries and all but the largest companies.  Manufacturers are reducing payrolls.  The softer job market this spring is largely due to significant fiscal drag from tax increases and government spending cuts.”

(The June 2013 ADP National Employment Report will be released at 8:15 a.m. ET on July 3, 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.

May 2013 Small Business Report Highlights*

Total Small Business Employment:             58,000

●By Size
►1-19 employees	37,000
►20-49 employees	21,000
●By Sector for 1-49 Employees
►Goods Producing	1,000
►Service Producing	58,000
●By Sector for 1-19 Employees
►Goods Producing	1,000
►Service Producing	36,000
●By Sector for 20-49 Employees
►Goods Producing	0
►Service Producing	21,000

* 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 May 7^th, the BLS reported that there were 3,800,000 job openings on the last business day of March, down from 3,900,000 in February.  (The Job Openings and Labor Turnover Survey results for April 2013 are scheduled to be released on Tuesday, June 11, 2013).  The 3,800,000 reflects published openings comprised of jobs that are advertised either online or in print format. 

The number of job openings in March (not seasonally adjusted) was little changed over the year for total nonfarm, total private, and government.  Job openings decreased over the year for nondurable goods manufacturing and federal government; openings increased over the year for accommodation and food services. Job openings were little changed over the year for all regions.

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 May there were 11,760,000 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 11,760,000 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 150,200 in May

June 5, 2013

• May drop brings average lost to 29,600/month for the first five months of 2013
• Labor demand over the year remains nearly unchanged for many professional occupations
• NOTE:  April 2013 data were revised to adjust for the removal of a job board

Online advertised vacancies fell 150,200, or 3%, in May to 4,827,600 in The Conference Board Help Wanted OnLine® (HWOL) Data Series released today.  In the first 5 months of 2013 labor demand has dropped an average of 29,600 per month.  The Supply/Demand rate stands at 2.3 unemployed for each vacancy.  In April there were 6,700,000 more unemployed than the number of advertised vacancies, down from 11,900,000 at the end of the recession in June 2009.

“The upward trend in labor demand since the end of the recession seems to have stalled in 2013,” said June Shelp, Vice President of The Conference Board.  “The 2013 levels for labor demand are still well above the pre-recession high of April 2007, but the small 2013 pullback of 29,000 per month in labor demand indicates that the national economy is still not out of the woods.”

Many of the professional occupations (management, computers, business and finance) were weak in 2013. A few bright spots included gains for production and construction workers and a surprisingly large rise (up 29% so far in 2013) for workers in legal occupations.

The May BLS Analysis

The unemployment rate is published by the Bureau of Labor Statistics, a division of the US Department of Labor.  The rate is found by dividing the number of unemployed by the total civilian labor force.  On June 7^th, 2013, the BLS published the most recent unemployment rate for May, 2013 of 7.6% (actually it is 7.555%, up .045% from 7.510% in April, 2013). 

The unemployment rate was determined by dividing the unemployed of 11,760,000—up from the month before by 101,000—since May, 2012 (one year ago) this number has decreased by 935,000) by the total civilian labor force of 155,658,000 (up by 420,000 from April, 2013).  Since May 2012, our total civilian labor force has increased by 660,000 people.

 

(The continuing ‘Strange BLS Math’ saga):  The BLS continues to increase the total Civilian Working Population—this time up to 245,363,000.  In one year’s time this population has increased by 2,397,000.  It has increased each month…

 

 

And this month the BLS have increased the Civilian Labor Force to 155,658,000 (up from April by 420,000—and double the 210,000 increase from March). 

 

Subtract the second number (‘civilian labor force’) from the first number (‘civilian working population’) and you get 89,705,000 ‘Not in Labor Force’.  That is a decrease of 231,000 ‘Not in Labor Force’ in one month’s time!  Since May 2012, 1,737,000 US workers have vanished!  Where did those 1,737,000 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 slightly to 63.4%.  This is the second lowest Employment Participation Rate recorded since May 1979…when Carter was President, 34 years ago!  One year ago, our Participation Rate in May 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 May was 3.5% (this rate was the same as 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 May fell to 3.8% (down from last month’s 3.9%).

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 May 30^th, the Bureau of Economic Analysis announced the first-quarter second 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 2.4% in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the “second” estimate released by the Bureau of Economic Analysis.  In the fourth quarter, real GDP increased 0.4%.

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month.  In the advance estimate, real GDP increased 2.5%.  With the second estimate for the first quarter, increases in private inventory investment, in exports, and in imports were less than previously estimated, but the general picture of overall economic activity is not greatly changed.

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

May 2012                    4.0%

May 2011                    4.4%

May 2010                    4.5%

May 2009                    4.3%

May 2008                    2.6%

May 2007                    1.9%

May 2006                    2.0%

May 2005                    2.4%

May 2004                    2.8%

May 2003                    3.0%

May 2002                    3.1%

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

May 2012                    3.9%

May 2011                    4.5%

May 2010                    4.6%

May 2009                    4.8%

May 2008                    2.3%

May 2007                    2.0%

May 2006                    2.1%

May 2005                    2.4%

May 2004                    2.9%

May 2003                    3.1%

May 2002                    3.0%

So, while May’s 2013 rates for these two categories, 3.5% 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%	11.6%	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%	7.4%	7.4%

 

 

 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%

 

 

 

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%

 

 

 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%

 

 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

 

 

 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

 

 

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

 

 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%

 

 

 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%

 

 

 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%