The nation’s economy added 175,000 new jobs in May and the jobless rate slightly increased to 7.6% compared to April’s 7.5%, according to figures released this morning by the U.S. Bureau of Labor Statistics. The 175,000 new May jobs outpaced April’s job growth by 10,000 and marked 38 straight months of tepid job growth. But economists say the growth rate is too slow to fuel a healthy jobs recovery.
Friday's employment numbers showed a reasonable gain of 165,000 jobs added to the payroll in April. These are preliminary numbers, as today’s report also shows that the numbers for February and March have now been adjusted upward. So, there is some hope that things may be better than they appear. A separate survey also was released today, based on a survey of households, from which we learned that the overall unemployment rate edged slightly down to 7.5%.
The nation’s economy added just 88,000 new jobs in March while the jobless rate dipped to 7.6% from February’s 7.7%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS).
While the 88,000 jobs created reflect 36 straight months of positive job growth, during the previous 12 months job growth had averaged about 169,000 a month. The small number of new jobs also shows how important it is that Congress repeals the sequester to stop any additional job loss in the public and private sectors. These across-the-board cuts will cost more than 750,000 jobs this year alone and could derail the economic recovery.
The nation’s economy added 236,000 new jobs in February and the jobless rate was 7.7% from January's 7.9%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The 236,000 jobs created reflect 35 straight months of positive job growth. But the number of long-term unemployed (those who are jobless for 27 weeks or more) was unchanged at 4.8 million. These people account for 40.2% of the unemployed.
The 400,000 drop in labor union membership announced by the U.S. Bureau of Labor Statistics last week is discouraging. The bigger story is that at the center of the drop is the decline in employment for public-sector workers, most notably local government workers. This has been the weakest sector of the economy. And that largely reflects the decline in teachers. So, this is not so much about unions losing, but the continued lack of focus of American economic policy on maintaining investments for America’s future in the face of the ongoing weak economy. The myopic debates on the fiscal deficit and cutting budgets to meet the educational needs of America’s children (in order to preserve tax cuts for the currently wealthy) is not a plan to make America succeed in the long run.
The union membership rate was 11.3% in 2012, down from 11.8% in 2011, according to the U.S. Bureau of Labor Statistics (BLS), which released updated figures today. This decrease in union membership highlights the painful fact that people are working harder but are making less and less.
One area that saw a significant loss was in the public sector. There are nearly 400,000 fewer union members, from teachers in the classroom to police and firefighters that keep us safe. In manufacturing, the jobs that have returned so far are largely low-wage, nonunion jobs.
The nation’s economy added 155,000 new jobs in December and the jobless rate was unchanged from November’s adjusted 7.8%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The 155,000 jobs created reflect 34 straight months of positive job growth.