The December 2013 Employment Situation Report

The December 2013 Employment Situation Report January 10, 2014

Posted by geoff in News.
trackback

I haven’t checked, but I’m sure the MSM is abuzz over the drop in unemployment rate below 7%. 6.7%!! It would be very heartening if that statistic had any meaning these days.

Let’s take a look at the statistic that I do find meaningful: full-time employment (from the Household Survey) divided by the civilian non-institutional population. This stat captures the real health of the job market as well as the effect of people dropping out of the employment pool. What does my favorite stat look like?

Virtually no change from last month and we actually haven’t quite made it back to May’s value, so the job situation really hasn’t improved over the past 7 months. Which is about how it feels, at least to me.

Comments

1. punk - January 10, 2014: And this chart is even depressinger.
2. Unemployment Plummets to 6.7%! | Bring the heat, Bring the Stupid - January 10, 2014: […] Geoff at IB shows us the chart. […]
3. lauraw - January 10, 2014: This chart is a cleaver against the dishonest ‘recovery’ narrative we’ve been subjected to for years.
4. osoloco11 - January 10, 2014: We are currently in a hiring freeze. Most of our FT employees are being encouraged to “Move up or move out”. As FT employees “Move up or move out” they are being replaced by PT employees. Thanks 53%!
5. Jimmy Carter Era Workforce Numbers | The Universal Spectator - January 10, 2014: […] But don’t forget, this does not count those unemployed that have stopped looking for work, or those who are being counted as “employed” who have been forced from full time into part …… […]
6. lauraw - January 12, 2014: http://www.aei-ideas.org/2014/01/that-bernstein-romer-jobs-chart-a-final-appraisal/
7. geoff - January 12, 2014: Pethoukis has held on to that chart long after its sell-by date.
8. Larwyn’s Linx: Forbes flat-out calls for Obama’s impeachment, and their argument is ironclad | Preppers Universe - January 13, 2014: […] The December 2013 Employment Situation Report: Innocent BystandersIt’s Official: The US Created Less Jobs In 2013 Than 2012: ZHSessions: ‘For Every One Job Added, Nearly 5 People Left the Workforce’: WS […]
9. The Employment Depression | The Political Hat - January 15, 2014: […] The employment participation rate dropped heavily due to the recession. Since then it has remained near that lower level. The percentage of Americans who are employed not only fell, but has remained depressed. […]

Sorry comments are closed for this entry

Innocent Bystanders