Tag Archives: bureau of labor statistics

U.S. unemployment drops to 8.0% – Gallup reports, May 2012

U.S. unemployment, as measured by Gallup without seasonal adjustment, dropped to 8.0% in May, a new low since Gallup began measuring employment in 2010, and more than a full percentage-point decline from May 2011. Gallup’s seasonally adjusted number for May is 8.3%, down from 8.6% in April. However, that remains higher than the seasonally adjusted low of 7.9% recorded in January 2012.

Despite recent drops in unemployment reported by Gallup and the U.S. Bureau of Labor Statistics, the U.S. employment situation remains fragile.

 

Fragile…or, rocky as seen in the graph above where the numbers have been rising/falling since January 2012.

Tomorrow the U.S. government’s will publish its own unemployment numbers form the Bureau of Labor Statistics.

 

// Thx – Flap’s Blog

Unemployment rate normal for college grads – so why Occupy Wall Street?

For some reason I thought that not having a chance to get ahead was a big part of Occupy Wall Street. That the top 1% is running away with money from the bottom 99%.

Unfortunately, the unemployment data below confuses that story. It shows a serious education issue and major problems in the African-American community, but not a widespread problem among the 99%.

In fact, if you take those groups out of the equation then the problems are nearly wiped away. Our college grads have an employment rate of 4.2%. The white and asian communities over-all have an unemployment rate around 6.5%.

An unemployment rate of 4-6% is considered normal for a healthy economy, taking into account those between jobs, career changes, etc.

Perhaps, the message for Occupy Wall Street should have been to get more kids through college and help out the African-American community?

November 2011,  Unemployment Statistics - Bureau of Labor Statistics

By Education

  • High school dropouts – 12.7%
  • High school, no college – 8.4%
  • Some college or Associates Degree – 7.4%
  • Bachelor’s and higher – 4.2%

 

By Race, Sex

White, unemployment rate, 7.2 %

  • Men – 6.8%
  • Women – 6.5%
  • Teens – 21%

Black, unemployment rate, 14.9%

  • Men – 15.5 %
  • Women – 12.7%
  • Teens – 39%

Asian, unemployment rate, 6.5%

 

By Industry

Highest unemployment rate:

  • Agriculture – 14.9%
  • Construction – 13.1%
  • Leisure and Hospitality – 11.1%

Lowest unemployment rate:

  • Self-employed – 5.2%
  • Education and Health – 5.2%
  • Government workers – 4.5%

Industry most likely for college grads:

  • Professional and business services – 9%
  • Information – 7.4%
  • Financial activities – 6.1%

I want to encourage you to come to your own conclusions about these numbers. What did you come up with?

One I came up with is that it certainly pays to be a college grad (4.2%) and be self-employed (5.2%). Both have the lowest unemployment rates.