Worldwide Unemployment Rates

OECD Unemployment

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On Friday August 11th the OECD published the Unemployment rates of its member countries. They call it the “Harmonised Unemployment Rate” meaning that they may adjust the rate depending on how the individual countries calculate it so they are comparable.

Note: The Organisation for Economic Cooperation and Development (OECD) is an intergovernmental economic organisation with 35 member countries, founded in 1960 to stimulate economic progress and world trade, headquartered in Paris France. In addition to its other functions the OECD publishes books, reports, statistics, working papers and reference materials.

The countries with the highest unemployment rates were:

 

Top 6 Highest Unemployment Rates in OECD Countries

Based on the most recent numbers we have for each country, we can see from the table below that the six countries with the highest unemployment rates are all [Continue reading]

1 Million Fewer Jobs but BLS Says 209 K More

U-3 Unemployment

The U.S. Bureau of Labor Statistics (BLS) released their employment and unemployment numbers for July on Friday August 4th.  The Seasonally adjusted U-3 unemployment rate was down from 4.4% in June to 4.3% in July. Unadjusted U-3 however was up from 4.5% to 4.6%. U3 is the Official unemployment rate per the International Labor Organization definition. It occurs when people are without jobs and they have actively looked for work within the past four weeks.

U-6 Unemployment

U-6 unemployment is the broadest category of unemployment and includes U3 plus “discouraged workers”, plus other “marginally attached workers”, plus part-time workers who want to work full-time, but cannot due to economic reasons. U-6 was unchanged from June at 8.9%.

 

Employment

The Commissioner of the BLS released this statement, “Nonfarm payroll employment rose by 209,000 in July, and the unemployment rate, at 4.3 percent, was little changed. Job gains occurred in food services and drinking places, professional and business services, and health care. Employment growth has averaged 184,000 per month thus far this year, in line with the  average monthly gain in 2016 (+187,000). “

However if we look at the actual employment data we get a different picture.  [Continue reading]

Comparing Bureau of Labor Statistics Unemployment Numbers to an Independent Source

BLS vs Gallup Unemployment Rates

NOTE: Gallup has STOPPED publishing their Unemployment Numbers effective in July 2017. This includes U-3, Underemployment (U-6), and Good Jobs Index (Payroll to Population Rate). From 2010-2017,  the Gallup Survey people both generated numbers to … [Continue reading]

Unemployment Rates by State

State Unemployment Rates

What Causes a State to Have a Lower Unemployment Rate? Nationwide according to the U.S. Bureau of Labor Statistics the Seasonally Adjusted Unemployment rate is 4.4% but when you look a bit closer you will see that there is quite a bit of variation … [Continue reading]

Employers Compensation Costs Increase

The U.S. Bureau of Labor Statistics (BLS) released their quarterly report today on the status of "Compensation Costs" i.e. how much employers are having to pay employees. Wages and salaries are considered to make up about 70 percent of compensation … [Continue reading]

4 Ways Workers’ Comp Can Impact Your Personal Finances

Getting injured on the job can have some serious implications for your career, personal life, and finances. For severe injuries, you may struggle with the downtime as you recover. What’s more, your workers’ compensation claim may be delayed or denied … [Continue reading]

Should You Make a Career Change into Tech?

Even though there is someone who has made a fortune in almost any industry, not every line of work offers the same prospects for potential advancement, growth and prosperity. Because of this, at one point in their lives, most people come to regret … [Continue reading]

6 Things to Consider When Your Business Expands

When you are considering expanding your business – that is always a cause to celebrate. Sales might be doing well and you decide you need to find a bigger space so you can hire additional employees. So far so good. But, are you really ready for the … [Continue reading]

45 Ways You Can Find Success Without a Degree

College degrees are expensive these days. Many college graduates wind up with five-figure debts and still no job prospects once they graduate. To avoid that, many people are now looking for jobs that don’t require a degree. While some may assume that … [Continue reading]

Choosing Your College Major and the Best Career Path

You can't just dive into the subject matter you’re most passionate about, the real world requires you to give your career choice careful consideration. In fact, many students cannot decide on a single, strongest interest to begin with, and more often … [Continue reading]