Real Unemployment 11 Percent; Total Unemployment 15.6 Percent
- In the last year, the civilian population rose by 1,726,000. Yet the labor force fell by 67,000. Those not in the labor force rose by 1,793,000.
- In November, those "Not in Labor Force" rose by a whopping 487,000. If you are not in the labor force, you are not counted as unemployed.
- Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
Jobs Report at a Glance
Here is an overview of November Jobs Report, today's release.
- US Payrolls +120,000
- US Unemployment Rate Declined .4 to 8.6%
- Civilian labor force fell by 315,000
- Those Not in Labor Force rose by 487,000
- Participation Rate fell .2 percentage points to 64.0%, nearly matching a low last seen in 1984
- Actual number of Employed (by Household Survey) rose by 278,000
- Unemployment fell by 594,000
- Civilian population rose by 172,000
- Average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours for the second consecutive month.
- The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down 0.1 hour to 33.6 hours in November.
- Average hourly earnings for all employees in the private sector fell by 2 cents to $23.18
- Government employment decreased by 20,000
- The private sector has only recovered 33 percent of jobs lost in the peak-to-trough period of January 2008 to February 2010.
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