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Hiring Is Strong and Jobless Rate Declines to 6.1%
Keywords:
All sectors of the U.S. economy see an increase in hiring, including retail, transportation, healthcare and manufacturing, as the economy adds 288,000 jobs in June, according to the Labor Department. Manufacturing added 16,000 jobs, transportation 17,000 and the public sector increased jobs by 26,000. Hiring also picked up for high school graduates compared to the poor record in 2013. In 2013 one Barclays economist says the jobs for high school graduates at this point were declining by 16,000 a month on yearly basis. He says employers are now adding 29,000 jobs for high school graduates a month in 2014. The unemployment for high school graduates declined to 5.8% in June 2014, for persons with some college education or an associate degree 5.0%, for college graduates 3.3%. Barclay's estimate is that the U.S. added an average of 231,000 jobs a month for the first half of 2014. The inflation rate remains at about 2%, giving the U.S. Fed more flexibility in setting rates to support jobs growth. The lower unemployment rate of 6.1% understates the underemployment, as a more accurate measure of employment which includes people working part time because they cannot find jobs is at 12.1%. The proportion of Americans in the labor force is also at a 36 year low of 62.8%. These two indicators for unemployment, unemployment including people working parttime, and the proportion of Americans in the labor force, combined with inflation, are the main indicators Fed chairmam Yellen is looking at.
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Hiring Is Strong and Jobless Rate Declines to 6.1%
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Wanted: Jobs for the New 'Lost' Generation
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90 Million Americans Not Working
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Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
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U-6 unemployment rate in the U.S. at 12.6% in March 2014
04/04/2014
Grouped Articles
It's Still Bad for the Long Term Unemployed
New York Times 04/04/2014
'Real Unemployment' Rate Points in the Wrong Direction
New York Times 04/04/2014
In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy
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Wall Street Journal 05/05/2014
Little Agreement on Reasons for Declining Labor-Force Participation
Wall Street Journal 05/05/2014
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Wall Street Journal 05/05/2014
Blanchflower and Posen call for the U.S. Federal Reserve to use wage growth as the best indicator of unemployment, after the misleading 288,000 jobs report of April 2014
06/06/2009
A renewed focus on the partcipation rate as the unemployment rate declines to 6.3% in April 2014. As this only counts people looking for work and many Americans have dropped out of the labor market because jobs they seek do not exist, the unemployment rate in this situation is misleading. Blanchford and Posen have written a paper on this and say the flat wage rate in March and April 2014 with no improvement in the participation rate provides a true picture of the large slack in the economy.
Grouped Articles
In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy
New York Times 05/05/2014
Wall Street Journal 05/05/2014
Little Agreement on Reasons for Declining Labor-Force Participation
Wall Street Journal 05/05/2014
Positive Jobs Report Shows Economic Fault Lines
Wall Street Journal 05/05/2014
Jobs Data May Be Icing on America's Birthday Cake
Wall Street Journal 07/03/2014
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
Why high unemployment and the high percentage of the long term unemployed is determining U.S. Federal Reserve interest rate policy in 2012-2014
01/27/2009
With 40% of the unemployed in the U.S. shown as long term unemployed, mismatch in skills and other structural problems with unemployment, the U.S. Federal Reserve policies of Fed chairman Bernanke are geared to addressing this problem.
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Yellen and Krueger on low short term unemployment pushing inflation up when long term unemployment is high
04/16/2014
Yellen's position is that it is premature to assume low short term unemployment at a time of high long tem unemployment will lead to increasing inflation. Krueger's research shows that this can happen. Yellen prefers to go by a range of indicators and look at the overall picture of evidence from economic trends including deflationary trends in Europe, low inflation and low wage pressures in the U.S. with slack in the economy.
Grouped Articles
Yellen’s Not on Team Krueger When it Comes to Inflation and the Unemployed
Wall Street Journal 04/16/2014
Yellen Says Job Weakness Forestalls Raising Rates
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Hiring Is Strong and Jobless Rate Declines to 6.1%
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WSJ's Hilsenrath: Fed Can Be Patient on Rate-Hike Debate After Data
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Yellen Goes on Road to Investigate Health of the Jobs Market
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Why high unemployment in the U.S. is expected for 2010-2014
06/06/2009
Structural problems like a mismatch of skills between maufacturing and construction sectors worst hit since 2008 and growing sectors like healthcare is one problem. Geographic factors and difficulty selling homes in states like Michigan is another. The tighter credit from a return of banking sector losses from bad home equity loans that is expected in late 2010 will keep the recovery from taking hold keeping unemployment high. The economic uncertainty following repeated budget battles between political parties also affects business investment.
Grouped Articles
90 Million Americans Not Working
Wall Street Journal 10/23/2013
Hiring Slowdown Blurs Growth View
Wall Street Journal 01/20/2014
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
New York Times 04/05/2012
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
Whats the real U.S. unemployment rate in November 2011, 11% or less than 9%? Its 11%!
01/04/2010
U.S. government statistics don't count long term unemployed who have stopped looking for work. Ed Luce of the Financial Times, says the figure is about 11% for the U.S. in Nov. 2011, when you include these people, which is the right number to look at. Also relevant are the underemployed, including this group brings the rate closer to 20%, reflecting the real situation in the U.S.
Grouped Articles
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
It's Still Bad for the Long Term Unemployed
New York Times 04/04/2014
Yellen’s Not on Team Krueger When it Comes to Inflation and the Unemployed
Wall Street Journal 04/16/2014
In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy
New York Times 05/05/2014
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
Wonkbook: The real unemployment rate is 11 percent - The Washington Post
Washington Post 12/12/2011
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