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Friday, August 3, 2012

Good News, Bad News, and Worse News for POTUS

The Bureau of Labor Statistics reports that the economy created more jobs than expected (good) but that the unemployment rate rose a hair (bad).
Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and manufacturing.
In July, the number of long-term unemployed (those jobless for 27 weeks and over) waslittle changed at 5.2 million. These individuals accounted for 40.7 percent of the unemployed. (See table A-12.) Both the civilian labor force participation rate, at 63.7 percent, and the employment- population ratio, at 58.4 percent, changed little in July.
Also see the U-6 numbers:
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force 
  • March..14.5 
  • April....14.5 
  • May.....14.8 
  • June.....14.9 
  • July..... 15.0

Average Time Unemployed Are Without Work

Unemployment Rate By Duration of Unemployment