New Unemployment Numbers- February

On Friday March 10th the U.S. Bureau of Labor Statistics released their Employment and Unemployment numbers for February 2017. The media was making a big deal about these numbers because they represent the “First full month since Trump took office”.
The numbers turned out to be moderately “Bullish” although the Commissioner’s statement said, “Total nonfarm payroll employment increased by 235,000 in February, and the unemployment rate was little changed at 4.7 percent. Employment gains occurred in construction, private educational services, manufacturing, health care, and mining.”
Now, I’m not complaining… gaining 235,000 jobs is certainly better than losing them but what’s the big deal? Well, first of all, the big deal is that

August Unemployment Numbers- 4.9%

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 Unemployment rate was 5.0% and Gallup’s equivalent was 5.4% for a “mere” 0.4% difference.

The broader U-6 Unemployment rate (also unadjusted) which includes “discouraged workers”, “marginally attached workers” and Part time workers who want to work full-time was 9.7% in August while Gallup’s equivalent which they call the “Underemployment rate” was 3.4% higher at 13.1%. The civilian non-institutional population increased another 234,000 this month bringing it to 253,854,000.

BLS Releases October Employment Figures

According to the latest U.S. Bureau of Labor Statistics (BLS) data release on November 6th the U-6 Unemployment Rate for October was 9.5%. The current “Seasonally Adjusted” U-3 Unemployment Rate for October is 5.0% down from September’s 5.1% The employment situation for the month of October 2015 was as follows: The number of Unadjusted jobs reported for October 2015 was 143.739 million. That was up from June’s previous peak of 142.836 million.

High Paid Miners Now Working at Walmart?

Apparently U.S. employers cut back on hiring over the last two months. The expectation by economists polled by Reuters was that there would be a net gain of 203,000 jobs in September. But when the BLS released their “preliminary estimates” for the employment situation for September and adjusted the results for the month of August 2015, non-farm employment rose by only 142,000 in September. And to make matters worse, August numbers were adjusted down by 57,000 resulting in the smallest two month gain in over a year.