November Unemployment Rates- Economic Confidence Up After Election

On Friday, December 2nd the U.S. Bureau of Labor Statistics (BLS) released their Employment and Unemployment data for the month of November. According to the BLS numbers Seasonally Adjusted U-3 unemployment was 4.6% down from 4.9% in October. Unadjusted U-3 was 4.4% down from 4.7%. According to Gallup unadjusted U-3 was 4.9% down from 5.1%.

U-6 unemployment was 9.0% according to the BLS down from 9.2% in October while Gallup’s equivalent “Underemployment Rate” was at 13%.

Interestingly, Gallup’s “Economic Confidence” jumped into positive territory shortly after the election for the first time since early 2015 and for only the second time since the index was created in early 2009. The week prior to the election economic confidence was at -11 and currently it is at +4. According to Gallup, “This is the first positive weekly reading in more than a year and a half.” Read the full story.

Gallup Economic Confidence

In other political news, President-Elect Trump has already set the tone for his Presidency by convincing Carrier to not outsource 1000 of the planned 2000 jobs slated to go to Mexico.

Current Unemployment Rate Chart-

Unemployment Rate Chart November 2016

 

According to the BLS Commissioner’s report for this month: [Continue reading]

Whose Unemployment Numbers are Right?

The Bureau of Labor Statistics (BLS) and the Gallup Survey people both generate numbers to help us understand the employment/unemployment situation. Unfortunately, they often present a different picture. Typically the BLS data presents a rosier picture than the independently surveyed Gallup numbers. However, like the previous two summers, the gap between the BLS and the Gallup numbers closed for July 2016 with the BLS and the Gallup numbers coming in identical. The numbers for the month of August showed the gap returning with the BLS saying the Unadjusted U-3 Unemployment rate was 5.0% while Gallup said it was 5.4%. For November Gallup said unadjusted U-3 unemployment was 4.9% while the BLS said it was 4.4%.

Comparing Bureau of Labor Statistics numbers to an Independent Source

Gallup vs BLS Unemployment numbersThere has been a lot of talk about the validity of the government generated unemployment numbers created by the U.S. Bureau of Labor Statistics (BLS) and what is the true unemployment rate. Generally, we look at the Employment numbers rather than the Unemployment Rate because they are much more accurate. We’ve looked at Employment vs. Unemployment to see how they compare and we’ve looked at U-6 (total labor force including those who’ve given up looking) vs. U-3 (those who are still actively looking).  The U-3 unemployment rate is the commonly quoted one. But the one problem is that all that data comes from the government. If they are fudging the numbers how would we know? Unless as we’ve noted before there are inconsistencies between the Unemployment and Employment Charts. But we  [Continue reading]

10 Careers Off the Beaten Path

Unusual Jobs

Law, medicine and engineering are traditional professions promoted because they are known to provide good salaries and stable employment. People have been led to believe that if you get into any of these fields you are guaranteed to get rich. This is … [Continue reading]

5 Rewarding Careers in Economics to Consider

business-analyst

According to Dictionary.com Economics is "the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind." Some courses a person majoring in economics may take include finance, … [Continue reading]

September Unemployment Numbers

bls_vs_gallup_unemployment_2_sep2016

The U.S. Bureau of Labor Statistics (BLS) released the Unemployment numbers for the month of September on Friday, October 7th. The Seasonally Adjusted U-3 Unemployment rate was 5.0% after being 4.9% for three months in a row. The unadjusted U-3 … [Continue reading]

Tips for Climbing to the Top of the Ladder

climbing-the-business-ladder

Whether you start with a High School degree or a Master's degree there are avenues to successful careers. Here are 4 different paths to climbing the corporate ladder including where they start and where they end, along with the positions and salaries … [Continue reading]

Financial Solutions for Unemployed Dads

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While people often view mothers who stay home with their children in a positive way, they may look down on stay at home dads. When you lose your job, it can take months until you find another one. This can be stressful and financially difficult for … [Continue reading]

August Unemployment Numbers- 4.9%

Unemployment Rate

The U.S. Bureau of Labor Statistics (BLS) released the Unemployment numbers for the month of August on Friday September 2nd. The commonly quoted Seasonally Adjusted U-3 Unemployment rate was 4.9% for the third month in a row. The unadjusted U-3 … [Continue reading]

Type A Personality? Some Jobs for You to Consider

Type A Personality

Type A personalities tend to be career- and goal-oriented. They are laser-focused on achieving goals and are considered risk takers. They're often competitive, driven and controlling. While this can lead to stress, it can be channeled into avenues … [Continue reading]

MSN Picks Up Our Theme of “The Real Unemployment Rate”

Jobs Increase2

The Bureau of Labor Statistics published the July Employment/Unemployment numbers on August 5th . The seasonally adjusted U-3 (the commonly quoted unemployment rate) was  unchanged at 4.9%. BLS' Unadjusted U-3 was also unchanged at 5.1%. … [Continue reading]