Vision Payroll

January 9, 2010

Unemployment Rate Steady at 10.0 Percent in December

Nonfarm payroll employment edged down (-85,000) in December, and the unemployment rate was unchanged at 10.0%, the US Bureau of Labor Statistics reported recently. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs.

In December, both the number of unemployed persons, at 15.3 million, and the unemployment rate, at 10.0%, were unchanged. At the start of the recession in December 2007, the number of unemployed persons was 7.7 million, and the unemployment rate was 5.0%.

Unemployment rates for the major worker groups–adult men (10.2%), adult women (8.2%), teenagers (27.1%), whites (9.0%), blacks (16.2%), and Hispanics (12.9%)–showed little change in December. The unemployment rate for Asians was 8.4%, not seasonally adjusted.

Among the unemployed, the number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up, reaching 6.1 million. In December, 4 in 10 unemployed workers were jobless for 27 weeks or longer.

The civilian labor force participation rate fell to 64.6% in December. The employment-population ratio declined to 58.2%.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was about unchanged at 9.2 million in December and has been relatively flat since March. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

About 2.5 million persons were marginally attached to the labor force in December, an increase of 578,000 from a year earlier. (The 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 929,000 discouraged workers in December, up from 642,000 a year earlier. (The 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 1.6 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

December 5, 2009

Unemployment Rate Fell to 10.0 Percent in November

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The unemployment rate edged down to 10.0% in November, and nonfarm payroll employment was essentially unchanged (-11,000), the US Bureau of Labor Statistics reported recently. In the prior 3 months, payroll job losses had averaged 135,000 a month. In November, employment fell in construction, manufacturing, and information, while temporary help services and health care added jobs.

In November, both the number of unemployed persons, at 15.4 million, and the unemployment rate, at 10.0%, edged down. At the start of the recession in December 2007, the number of unemployed persons was 7.5 million, and the jobless rate was 4.9%.

Among the major worker groups, unemployment rates for adult men (10.5%), adult women (7.9%), teenagers (26.7%), whites (9.3%), blacks (15.6%), and Hispanics (12.7%) showed little change in November. The unemployment rate for Asians was 7.3%, not seasonally adjusted.

Among the unemployed, the number of job losers and persons who completed temporary jobs fell by 463,000 in November. The number of long-term unemployed (those jobless for 27 weeks and over) rose by 293,000 to 5.9 million. The percentage of unemployed persons jobless for 27 weeks or more increased by 2.7 percentage points to 38.3%.

The civilian labor force participation rate was little changed in November at 65.0%. The employment-population ratio was unchanged at 58.5%.

The number of people working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in November at 9.2 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

About 2.3 million persons were marginally attached to the labor force in November, an increase of 376,000 from a year earlier. (The 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 861,000 discouraged workers in November, up from 608,000 a year earlier. (The 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 had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

November 7, 2009

Unemployment Rate Rose to 10.2 Percent in October

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The unemployment rate rose from 9.8% to 10.2% in October, and nonfarm payroll employment continued to decline (-190,000), the US Bureau of Labor Statistics reported recently. The largest job losses over the month were in construction, manufacturing, and retail trade.

In October, the number of unemployed persons increased by 558,000 to 15.7 million. The unemployment rate rose by 0.4 percentage points to 10.2%, the highest rate since April 1983. Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points.

Among the major worker groups, the unemployment rates for adult men (10.7%) and whites (9.5%) rose in October. The jobless rates for adult women (8.1%), teenagers (27.6%), blacks (15.7%), and Hispanics (13.1%) were little changed over the month. The unemployment rate for Asians was 7.5%, not seasonally adjusted.

The number of long-term unemployed (those jobless for 27 weeks and over) was little changed over the month at 5.6 million. In October, 35.6% of unemployed persons were jobless for 27 weeks or more.

The civilian labor force participation rate was little changed over the month at 65.1%. The employment-population ratio continued to decline in October, falling to 58.5%.

The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in October at 9.3 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

About 2.4 million persons were marginally attached to the labor force in October, reflecting an increase of 736,000 from a year earlier. (The 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 808,000 discouraged workers in October, up from 484,000 a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The other 1.6 million persons marginally attached to the labor force in October had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

October 3, 2009

Unemployment Rate Rose to 9.8 Percent in September

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Nonfarm payroll employment continued to decline in September (-263,000), and the unemployment rate (9.8%) continued to trend up, the US Bureau of Labor Statistics reported recently. The largest job losses were in construction, manufacturing, retail trade, and government.

Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8%.

Unemployment rates for the major worker groups—adult men (10.3%), adult women (7.8%), teenagers (25.9%), whites (9.0%), blacks (15.4%), and Hispanics (12.7%)—showed little change in September. The unemployment rate for Asians was 7.4%, not seasonally adjusted. The rates for all major worker groups are much higher than at the start of the recession.

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 603,000 to 10.4 million in September. The number of long-term unemployed (those jobless for twenty-seven weeks and over) rose by 450,000 to 5.4 million. In September, 35.6% of unemployed persons were jobless for twenty-seven weeks or more.

The civilian labor force participation rate declined by 0.3 percentage points in September to 65.2%. The employment-population ratio, at 58.8%, also declined over the month and has decreased by 3.9 percentage points since the recession began in December 2007.

In September, the number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 9.2 million. The number of such workers rose sharply throughout most of the fall and winter but has been little changed since March.

About 2.2 million persons were marginally attached to the labor force in September, an increase of 615,000 from a year earlier. (The 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 twelve months. They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.

Among the marginally attached, there were 706,000 discouraged workers in September, up by 239,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The other 1.5 million persons marginally attached to the labor force in September had not searched for work in the four weeks preceding the survey for reasons such as school attendance or family responsibilities.

September 5, 2009

Unemployment Rate Rose to 9.7 Percent in August

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Nonfarm payroll employment continued to decline in August (-216,000), and the unemployment rate rose to 9.7%, the US Bureau of Labor Statistics reported recently. Although job losses continued in many of the major industry sectors in August, the declines have moderated in recent months.

In August, the number of unemployed persons increased by 466,000 to 14.9 million, and the unemployment rate rose by 0.3 percentage points to 9.7%. The rate had been little changed in June and July, after increasing 0.4 or 0.5 percentage points in each month from December 2008 through May. Since the recession began in December 2007, the number of unemployed persons has risen by 7.4 million, and the unemployment rate has grown by 4.8 percentage points.

Among the major worker groups, the unemployment rates for adult men (10.1%), whites (8.9%), and Hispanics (13.0%) rose in August. The jobless rates for adult women (7.6%), teenagers (25.5%), and blacks (15.1%) were little changed over the month. The unemployment rate for Asians was 7.5%, not seasonally adjusted.

The civilian labor force participation rate remained at 65.5% in August. The employment-population ratio, at 59.2%, edged down over the month and has declined by 3.5 percentage points since the recession began in December 2007.

In August, the number of persons working part time for economic reasons was little changed at 9.1 million. These individuals indicated that they were working part time because their hours had been cut back or because they were unable to find a full-time job. The number of such workers rose sharply in the fall and winter but has been little changed since March.

About 2.3 million persons were marginally attached to the labor force in August, reflecting an increase of 630,000 from a year earlier. (The 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, the number of discouraged workers in August (758,000) has nearly doubled over the past 12 months. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The other 1.5 million persons marginally attached to the labor force in August had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

September 2, 2009

Tip of the Week: Ten Steps to Effectively Review Resumes

Filed under: News — Tags: , , , — Vision @ 6:27 am

According to the US Bureau of Labor Statistics, the unemployment rate in July 2009 was 9.4% compared to an adjusted rate of 5.8% in July 2008. In turn, many employers have observed from their growing stacks of resumes, a wider availability of experienced workers as interested job applicants. Use the following helpful steps in reviewing the resumes that you receive:

  1. Check the Introduction
  2. Scan the Resume
  3. Confirm the Minimum
  4. Skim the Summary
  5. Target Key Words
  6. Identify Relevant Experience
  7. Review the History
  8. Note the Miscellaneous
  9. Rank and File
  10. Screen and Schedule

To learn more be sure to read this month’s featured article by the HR pros at MyHRSupportCenter, Ten Steps to Effectively Review Resumes. If you’re not yet signed up or would like a free trial of MyHRSupportCenter, contact Vision Payroll today.

August 8, 2009

Unemployment Rate Fell to 9.4 Percent in July

Filed under: News — Tags: , , — Vision @ 2:10 pm

Nonfarm payroll employment continued to decline in July (-247,000), and the unemployment rate was little changed at 9.4%, the US Bureau of Labor Statistics reported recently. The average monthly job loss for May through July (-331,000) was about half the average decline for November through April (-645,000). In July, job losses continued in many of the major industry sectors.

In July, the number of unemployed persons was 14.5 million. The unemployment rate was 9.4%, little changed for the second consecutive month.

Among the major worker groups, unemployment rates for adult men (9.8%), adult women (7.5%), teenagers (23.8%), whites (8.6%), blacks (14.5%), and Hispanics (12.3%) were little changed in July. The unemployment rate for Asians was 8.3%, not seasonally adjusted.

The number of long-term unemployed (those jobless for 27 weeks or more) rose by 584,000 over the month to 5.0 million. In July, 1 in 3 unemployed persons were jobless for 27 weeks or more.

The civilian labor force participation rate declined by 0.2 percentage points in July to 65.5 percent. The employment-population ratio, at 59.4%, was little changed over the month but has declined by 3.3 percentage points since the recession began in December 2007.

The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in July at 8.8 million. The number of such workers rose sharply in the fall and winter but has been little changed for 4 consecutive months.

About 2.3 million persons were marginally attached to the labor force in July, 709,000 more than a year earlier. (The data are not seasonally adjusted.) These individuals, who 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 796,000 discouraged workers in July, up by 335,000 over the past 12 months. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The other 1.5 million persons marginally attached to the labor force in July had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

July 4, 2009

Unemployment Rate Rose to 9.5 Percent in June

Filed under: News — Tags: , , — Vision @ 9:28 am

Nonfarm payroll employment continued to decline in June (-467,000), and the unemployment rate was little changed at 9.5%, the Bureau of Labor Statistics of the US Department of Labor reported recently. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction.

The number of unemployed persons (14.7 million) and the unemployment rate (9.5%) were little changed in June. Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.2 million, and the unemployment rate has risen by 4.6 percentage points.

In June, unemployment rates for the major worker groups–adult men (10.0%), adult women (7.6%), teenagers (24.0%), whites (8.7%), blacks (14.7%), and Hispanics (12.2%)–showed little change. The unemployment rate for Asians was 8.2%, not seasonally adjusted.

Among the unemployed, the number of job losers and persons who completed temporary jobs (9.6 million) was little changed in June after increasing by an average of 615,000 per month during the first 5 months of this year.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 433,000 over the month to 4.4 million. In June, 3 in 10 unemployed persons were jobless for 27 weeks or more.

June 6, 2009

Unemployment Rate Rose to 9.4 Percent in May

Filed under: News — Tags: , , — Vision @ 2:12 pm

Nonfarm payroll employment fell by 345,000 in May, about half the average monthly decline for the prior 6 months, the Bureau of Labor Statistics of the US Department of Labor reported recently. The unemployment rate continued to rise, increasing from 8.9% to 9.4%. Steep job losses continued in manufacturing, while declines moderated in construction and several service-providing industries.

The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4%. Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.0 million and the unemployment rate has grown by 4.5 percentage points.

Unemployment rates rose in May for adult men (9.8%), adult women (7.5%), whites (8.6%), and Hispanics (12.7%). The jobless rates for teenagers (22.7%) and blacks (14.9%) were little changed over the month. The unemployment rate for Asians was 6.7% in May, not seasonally adjusted, up from 3.8% a year earlier.

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 732,000 in May to 9.5 million. This group has increased by 5.8 million since the start of the recession.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 268,000 over the month to 3.9 million and has tripled since the start of the recession.

May 9, 2009

Unemployment Rate Rose to 8.9 Percent in April

Filed under: News — Tags: , , — Vision @ 2:35 pm

Nonfarm payroll employment continued to decline in April (-539,000), and the unemployment rate rose from 8.5% to 8.9%, the Bureau of Labor Statistics of the US Department of Labor reported recently. Since the recession began in December 2007, 5.7 million jobs have been lost. In April, job losses were large and widespread across nearly all major private-sector industries. Overall, private-sector employment fell by 611,000.

The number of unemployed persons increased by 563,000 to 13.7 million in April, and the unemployment rate rose to 8.9%. Over the past 12 months, the number of unemployed persons has risen by 6.0 million, and the unemployment rate has grown by 3.9 percentage points.

Unemployment rates rose in April for adult men (9.4%) and blacks (15.0%). The jobless rates for adult women (7.1%), teenagers (21.5%), whites (8.0%), and Hispanics (11.3%) were little changed over the month. The unemployment rate for Asians was 6.6% April, not seasonally adjusted, up from 3.2% a year earlier.

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 571,000 in April to 8.8 million. This group has more than doubled in size over the past 12 months.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 498,000 to 3.7 million over the month and has risen by 2.4 million since the start of the recession in December 2007.

The civilian labor force participation rate rose in April to 65.8%, and the employment-population ratio was unchanged at 59.9%. The employment-population ratios for adult men and women showed little or no change over the month. However, since December 2007, the men’s ratio was down by 4.4 percentage points, while the women’s ratio was down by 1.3 percentage points.

In April, the number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 8.9 million; however, the number of such workers has risen by 3.7 million over the past 12 months.

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