January Jobs Report: Unemployment Rate Ends Year at 7.8%

KnowNOW!

Global Economic Watch

Syndication

Recent Posts

Tags

Archives

The unemployment rate ended the year at 7.8%, as the U.S. economy added 155,000 jobs in December, according to the Department of Labor. Employment either expanded or remained flat across all sectors, with Health care employment leading the way with 45,000 jobs added.  The Civilian labor force participation rate--something we will be following more closely in 2013--remained unchanged at 63.6%.  Here's a look at the unemployment trends from the Bureau of Labor Statistics:

Here are some of the key data from other areas we like to track in the monthly jobs report:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 7.9 million, changed little in December. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

In December, 2.6 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

Among the marginally attached, there were 1.1 million discouraged workers in December, little changed from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in December had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

Read the full report from the BLS here.


Posted 01-04-2013 9:16 AM by Graham Griffith

Comments

Global Economic Watch wrote Calculated Risk: Watching Labor Force Participation
on 01-07-2013 4:38 PM

We noted on Friday that the Civilian Labor Force Participation Rate was unchanged in the December jobs

You must login to your account to comment. If you do not have an account, please register to enjoy the full benefits of the site!