THE EMPLOYMENT SITUATION -- JANUARY 2014

Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today.

Employment grew in construction, manufacturing, wholesale trade, and mining.

Changes to the Employment Situation Data

Establishment survey data have been revised as a result of the annual benchmarking process and the updating of seasonal adjustment factors. Also, household survey data for January 2014 reflect updated population estimates. See the notes at the end of this release for more information about these changes.

THE EMPLOYMENT SITUATION -- NOVEMBER 2013

The unemployment rate declined from 7.3 percent to 7.0 percent in November, and total nonfarm payroll employment rose by 203,000, the U.S. Bureau of Labor Statistics reported today. 

Employment increased in transportation and warehousing, health care, and manufacturing.

CONSUMER PRICE INDEX – OCTOBER 2013

The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1 percent in October on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. 

Over the last 12 months, the all items index increased 1.0 percent before seasonal adjustment.

The gasoline index fell 2.9 percent in October and led to the seasonally adjusted decline in the all items index.

Read the detailed report from the 

Bureau of Labor Statistics

CONSUMER PRICE INDEX – OCTOBER 2013

+Bob DeMarco  is a citizen journalist and twenty year Wall Street veteran.

Jobless 27 Weeks or Longer Jumps to 5.4 Million

15.1 million Americans are now out of work. Or if you look at real unemployment-- 17 million.

One of the scariest statistics is the number of people unemployed 27 weeks or longer -- now 5.4 million. This number soared by 450,000 in the last month.

At 27 weeks, people start losing their unemployment benefits. Then what?

This number is likely to rise by another million plus by the end of the year?

This does not bode well for the economy or the the Christmas retail sales season.

Sources of Information

Real Unemployment Jumps to 17.0 Percent (Explanation)

Bureau of Labor Statistics -- Employment Situation news release

Table 12 in the Bureau of Labor Statistics

Commissioner's Statement on the Employment Situation


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Real Unemployment 15.6 Percent

Not many people are aware of the U-6 report that is issued by the Bureau of Labor Statistics. Most news organizations report the more popular U.S. Department of Labor: Bureau of Labor Statistics--Civilian Unemployment Rate. If you read this report today then you learned that unemployment jumped to 8.5 percent.

There is another category of unemployed that are not counted in that report. They are described in the U-6 report this way,

Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached,have given a job-market related reason for not looking currently for a job.

The U-6 report counts everyone that is unemployed. To view the report go here.

U-6

• Total unemployed
• plus all marginally attached workers
• plus total employed part time for economic reasons
• as a percent of the civilian labor force plus all marginally attached workers

The number reported today for this series is 15.6 % (the non-seasonally adjusted number is worse at 16.2 %). This compares to 9.1 percent reported March, 2008.

This paints a very ugly picture for the future.

Unemployment rose to 25 percent during the Great Depression.

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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