U1-U6 Archives - UnemploymentData.com

Employment Increased by 1.6 Million in October

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for October on November 6^th.

Unadjusted U-3 was Down from 7.7% to 6.6%.

Adjusted U-3 was Down from 7.9% to 6.9%.

Unadjusted U-6 was Down from 12.4% to 11.6%.

Labor Force Participation rose from 61.4% to 61.7%.

Unadjusted Employment up from 141.854 million to 143.459 million.

According to the Commissioner of the U.S. Bureau of Labor Statistics:

“Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined.”

Of course, they are talking about “Seasonally Adjusted Jobs” from the “Current Population Survey (CPS)” rather than looking at the results reported by actual companies in their “Current Employment Statistics survey (CES)”

But looking at the CES report we see…
Originally the BLS reported 141.855 million jobs for September, this month they only adjusted that slightly.
So currently they are saying 141.854 million jobs for September and 143.459 million for October.
which is actually an increase of 1,604,000 jobs based on their original estimates.

The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for March on April 3rd.

COVID-19 Shutdowns Send Unemployment Rate Soaring

The BLS commissioner emphasized that even though the numbers are collected mid-month and the massive shutdown had just begun it was already having detrimental effects on the unemployment rate and we can expect worse to come.

Unadjusted U-3 was Up from 3.8% to 4.5%!
Adjusted U-3 was Up from 3.5% to 4.4%!
Unadjusted U-6 was Up from 7.4% to 8.9%!
Labor Force Participation fell from 63.4% to 62.7%.
Unadjusted Employment down by approx. 193,000 jobs.

According to the Commissioner of the U.S. Bureau of Labor Statistics:

“Nonfarm payroll employment declined by 701,000 in March, and the unemployment rate increased to 4.4 percent, reflecting the broad impact on the job market of the coronavirus (COVID-19) and efforts to contain the illness. Employment fell by 459,000 in the leisure and hospitality industry, mainly in food services and drinking places. Notable employment decreases also occurred in health care and social assistance, professional and business services, retail trade, and construction.

It is important to keep in mind that the March survey reference periods for the establishment and household surveys (the pay period or week, respectively, that includes the 12th of the month) predated many business and school closures that occurred in the second half of the month. In addition, data collection for the two surveys was affected by the coronavirus.

Although response rates for both surveys were adversely affected by pandemic-related issues, we still were able to obtain estimates from our two surveys that met BLS standards for accuracy and reliability.”

Of course, he is talking about “Seasonally Adjusted Jobs” from the “Current Population Survey (CPS)”
rather than looking at the results reported by actual companies in their “Current Employment Statistics survey (CES)”

But looking at the CES report we see…
Originally the BLS reported 150.997 million jobs for February and then they added 58,000 jobs to that estimate.
So currently they are saying 151.055 million jobs for February and 150.804 million jobs for March
which is actually a decrease of 193,000 jobs compared to what they originally reported last month. [Read more…] about Coronavirus Skyrockets March Unemployment