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You are here: Home / Archives for Dec. 1969

Dec. 1969

October Employment Hits New Record High

November 3, 2018 by Tim McMahon

Seasonally Adjusted U-3 UnemploymentThe U.S. Bureau of Labor Statistics (BLS) released their monthly unemployment survey results for October on November 2nd. Unadjusted U-3 and U-6 Unemployment is down again and “Seasonally Adjusted” Unemployment U-3 was 3.7% for the second month in a row. This is the lowest level since December 1969 when it was 3.5%. The lowest level reached in the 1968-1969 timeframe was 3.4% where it hovered from September 1968 through May 1969. The only other time that unemployment was this low since they began tracking unemployment in 1948 was briefly in 1948 and again in 1951-53.

Employment is at an all time record 150.753 million the previous high was set in June 2018. Last month employment was 149.738 million so the actual increase in jobs was over 1 million, although the “Seasonally Adjusted” jobs increase was “only” 250,000. Even that was significantly higher than the projected 208,000.

Previous Record Low Unemployment

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1965 4.9% 5.1% 4.7% 4.8% 4.6% 4.6% 4.4% 4.4% 4.3% 4.2% 4.1% 4.0%
1966 4.0% 3.8% 3.8% 3.8% 3.9% 3.8% 3.8% 3.8% 3.7% 3.7% 3.6% 3.8%
1967 3.9% 3.8% 3.8% 3.8% 3.8% 3.9% 3.8% 3.8% 3.8% 4.0% 3.9% 3.8%
1968 3.7% 3.8% 3.7% 3.5% 3.5% 3.7% 3.7% 3.5% 3.4% 3.4% 3.4% 3.4%
1969 3.4% 3.4% 3.4% 3.4% 3.4% 3.5% 3.5% 3.5% 3.7% 3.7% 3.5% 3.5%
1970 3.9% 4.2% 4.4% 4.6% 4.8% 4.9% 5.0% 5.1% 5.4% 5.5% 5.9% 6.1%

Key October Employment and Unemployment Numbers

  • Adjusted U-3 Unemployment-   3.7% unchanged from September down from 3.9% in August.
  • Unadjusted U-3 Unemployment-  3.5% down from 3.6% in September and 3.9% in August and 4.1% in July and 4.2% in June.
  • Unadjusted U-6 Unemployment-  7.0% down from 7.1% in September and 7.4% in August and 7.9% in July, 8.1% in June.
  • Employment 150.753 million up from 149.741 million in September. (Yes over a Million more jobs!)
  • October Labor Force Participation Rate 62.9% up from 62.7% in September. (Higher is Better)

See Current Unemployment Chart for more info.

The Differential between U3 and U6 Remains Near September 2006 Lows

Last month the differential between the unadjusted U3 and U6 (reached by subtracting U3 from U6) was at 3.5% and remains there for the 3rd month in a row.

U6 minus U3 Unemployment 11-2-18

 

See Current U-6 Unemployment Rate for more info.

Employment by Sector

The employment “bubble chart” gives us a good representation of how each sector of the economy is doing (employment wise). As we can see from the chart below  [Read more…] about October Employment Hits New Record High

Filed Under: BLS, Employment Tagged With: 3.7%, BLS, Dec. 1969, lowest level, U-3, U-6, unemployment

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