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Archives for July 2014

Wages Flat Since Last Year but Depend Upon Education

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Median Salaries Unchanged from Year Ago

According to the current Bureau of Labor Statistics (BLS ) news release on weekly earnings for the second quarter of 2014, the median weekly earnings for a full-time worker was $780 virtually unchanged from year ago levels. The median wage indicates that the same number of people earned more than $780 as earned less working a full-time job.

The data was collected as part of the Current Population Survey, a nationwide sample survey of households conducted by the BLS.

Wages By Education

Wages vary based on a variety of factors including experience but education played a major factor. Full-time workers age 25 and over without a high school diploma had median weekly earnings of only $492. Assuming an average 40 hour work week that would be an average of $12.30/hr. High school graduates with no college earned an average of $666 per week, those with a Bachelors Degree earned an average of $1098 while those with advanced degrees earned an average of $1,377.  [Read more…] about Wages Flat Since Last Year but Depend Upon Education

BLS Releases June Unemployment- 6.1%

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The U.S. Bureau of Labor Statistics (BLS) released the June Unemployment figures on July 3rd. The Seasonally Adjusted Unemployment Rate was 6.1% down from 6.3% in May. The Unadjusted Unemployment rate was the exact opposite 6.3% in June and 6.1% May. So was the unemployment rate up or down?

BLS_vs_Gallup_UnemploymentAccording to the Gallup poll people both adjusted and unadjusted were down. The unadjusted rate was 6.8% down from 7.0% in May and the adjusted unemployment rate was 6.5% down from 7.2% in May. As we can see from the chart to the left for almost a year now Gallup numbers have diverged drastically from the BLS numbers by roughly a full percent. but this month the divergence narrowed a bit to “only” 1/2 percent. For more information see:

Current US Unemployment Rate: 6.1% BLS or 6.5% Gallup

 U-6 Unemployment

U-6 includes all classes of unemployed even those considered  “marginally attached” and/or part-time for economic reasons. In other words, those who [Read more…] about BLS Releases June Unemployment- 6.1%