Hooverville
The Job Market
-- Jayson
PoliPundit.com
August 2005
The economy created 373,000 net jobs last month, of which 169,000 were on non-farm payrolls. The unemployment rate fell to 4.9 percent. That’s less than half the reported unemployment rate of Les Francais, and it’s roughly 60% lower than Germany’s reported unemployment rate.
Net payroll job creation last month was posted in the following, high-paying labor sectors and subsectors: Commercial banking, legal services, securities and investments, accounting, computer systems design, architecture and engineering, health care, real estate, and construction.
Wage Growth
Regarding lower-tiered workers (i.e., non-managers in the services sectors and production-line workers in the factory sector), average hourly earnings rose in August for the twentieth consecutive month. Over the past year, such earnings have risen 2.7 percent. That’s less than, but roughly in line with, the total consumer inflation rate, which has posted an increase of 3.17 percent over the same period. (See here.)
inflationdata.com
2005 - Aggregate
Over the past eight months, the economy has created 2,293,000 net jobs, of which 1,550,000 have been on non-farm payrolls. The following labor sectors have added substantial quantities of net W-2 jobs during that period:
68,100 = Finance and insurance.
189,300 = Health care services.
176,000 = Construction.
36,700 = Real estate.
Perspective
August 1997
4.2 = unemployment rate for whites.
9.3 = for blacks.
7.2 = for latinos.
4.9 = overall unemployment rate.
On the other hand:
August 2005
4.2 = unemployment rate for whites.
9.6 = for blacks.
5.8 = for latinos.
4.9 = overall unemployment rate.
Note: Additional raw data - here and here.
bls.gov
data.bls.gov
polipundit.com
ftp://ftp.bls.gov/pub/news.release/History/empsit.090597.news
bls.gov |
