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Bureau of Labor Statistics

Jane Richey / January 11, 2014

Only 74K Jobs Added in December -Some Say Sure Sign of Economic Recovery!

The economy added a paltry 74,000 jobs in December, a figure far below the gains of recent months that raised immediate questions about the strength of the economy — and whether the report was an exception to the trend.

The unemployment rate dropped from 7 percent in November to 6.7 percent, though that was in part from people leaving the workforce. The labor force participation rate dropped slightly to 62.8 percent, which is right around the 36-year low.

The economy had been averaging gains of more than 200,000 jobs per month, and the December totals are the lowest number of jobs the economy has added in a single month since January 2011.

The low figures surprised most observers, and Mark Zandi, chief economist with Moody’s Analytics, went so far as to say he wouldn’t pay any attention to the latest figures because they are not consistent with any other data.

“Next month we get benchmark revisions and I expect the December numbers to be revised up,” he said. “The reality is the economy is creating 200,000 jobs a month.

Zandi said the December decline in unemployment is also overstated and will likely be revised up, at least in part, in the next couple of months.

“Bottom line, I think the economy and job market have shifted into a higher gear and that will become evident in the next few months,” he said.

Read more.

Jane Richey / September 9, 2013

US Job Growth Greatest for Foreign-born Workers

Under President Barack Obama, according to Bureau of Labor Statistics data released today, the increase in the number of foreign-born people employed in the United States has been 52 percent greater than the increase in the number of native-born people employed.

In January 2009, when President Barack Obama first took office, says the BLS, there were 21,375,000 foreign-born people employed in the United States. In August 2013, there were 23,833,000 foreign-born workers employed in the United States. That means that since Obama took office the number of foreign-born people holding jobs inside the United States has increased by 2,458,000.

Read more.

Jane Richey / August 2, 2013

Almost 1 Million Americans Conclude There are No Jobs

There were 988,000 discouraged workers in the United States in July, an increase of 136,000 from July 2012, according to data released today the Bureau of Labor Statistics (BLS).

“Discouraged workers are persons not currently looking for work because they believe no jobs are available for them,” the BLS explains.

While the overall unemployment rate declined to the lowest rate since December 2008 at 7.4 percent, those not in the labor force remains near an all-time high at 89,957,000. The previous high was 89,967,000 in March of this year.

The number of Americans who dropped out of the labor force was 240,000 in July – 78,000 more than the162,000 jobs added in the month.

Read more.

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