nonfarm payroll employment increased by 113,000 in July

[papau]

(seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
8.4 8.5 8.2 8.2 8.2 8.4 8.5
(not seasonaly adjusted)
2006 9.2 9.0 8.5 7.9 7.9 8.7 8.8


Birth/death guess change between years
2005 Jul -72
2006 Jul -57 so 25000 more jobs are claimed this year for July than were claimed last year due to the birth/death adjustment.




http://www.bls.gov/news.release/empsit.nr0.htm

Friday, August 4, 2006.


THE EMPLOYMENT SITUATION: JULY 2006


Total nonfarm payroll employment increased by 113,000 in July, and the
unemployment rate rose to 4.8 percent, the Bureau of Labor Statistics of the
U.S. Department of Labor reported today. Job gains occurred in several service-
providing industries, including professional and business services, health care,
and food services. Employment also rose in mining. Average hourly earnings
rose by 7 cents, or 0.4 percent, in July.

Unemployment (Household Survey Data)

The number of unemployed persons edged up to 7.2 million in July, and the
unemployment rate rose to 4.8 percent. A year earlier, the number of unemployed
persons was 7.5 million and the jobless rate was 5.0 percent.

Over the month, the unemployment rates for most major worker groups--adult
women (4.2 percent), teenagers (15.5 percent), whites (4.1 percent), blacks
(9.5 percent), and Hispanics (5.3 percent)--showed little or no change. After
declining in June, the jobless rate for adult men increased to 4.2 percent in
July. The unemployment rate for Asians was 2.7 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

Following a decline in June, the number of long-term unemployed persons--those
unemployed 27 weeks or longer--returned to its May level of 1.3 million. These
long-term unemployed accounted for 18.6 percent of total unemployment, about the
same as in May. (See table A-9.)

After trending down for several months, the number of unemployed persons who
were reentrants to the labor force increased to 2.4 million in July. This group
accounted for 32.7 percent of total unemployment, up from 30.0 percent in June.
(See table A-8.)

[NewJeffCT]

1. Pathetic job numbers again

According to most economists, we need to create anywhere from 150,000 to 175,000 jobs per month to keep up with the growing work force (due to population growth). So, this means that our economy actually lost (113,000 less (150,000 or 175,000)) 37,000 to 62,000 jobs last month when you take into account the fact that our labor force has grown.

[merwin]

2. How does total employment AND unemployment both rise?

[T Wolf]

3. Mostly due to summer employment for students...

And if my college-age daughter is typical, the glass really is half-full. Like almost all of her friends who sought AND FOUND jobs for the summer, they are not full-time. Companies and stores hired many kids, pay them minimum wage and give them only a few hours a week. My daughter averages EIGHT hours a week of committed work, plus up to 20 hours when she is "on call."

Employed, yes. But hardly worthwhile. Just more manipulation and exploitation.

[whistle]

4. Birth/death are made up numbers which ripple through all the other numbers

...total Bushit data!

[anotherdrew]

5. tht's what about 200k les than needed ?

and how many were lost that month?

[marmar]

6. Unemployment rate hits 5-month high...

By JEANNINE AVERSA, AP Economics Writer
24 minutes ago



WASHINGTON - Hiring slowed in July as employers added just 113,000 new jobs, propelling the unemployment rate to a five-month high of 4.8 percent and providing fresh evidence that companies are growing cautious amid high energy prices. Wages grew solidly.

ADVERTISEMENT

The latest snapshot Friday from the Labor Department added to the evidence from a variety of economic barometers that the economy is slowing and inflation is rising. Those conflicting forces present the Federal Reserve with a dilemma over interest rates when policymakers meet next week.

The tally of new jobs last month did not match the 124,000 added in June and was the lowest total since May, when payrolls grew by 100,000.

The civilian unemployment rate jumped from 4.6 percent in June to 4.8 percent in July, matching the jobless rate in February. The last time the unemployment rate was higher was in December, at 4.9 percent.

Economists had forecast a gain of about 145,000 jobs and an unemployment rate of 4.6 percent.

Manufacturers and information companies — including publishers and telecommunication firms — shed jobs in July, while employment in retailing and in the government was flat, combining to restrain overall hiring.

Workers' average hourly earnings rose to $16.76 in July, 0.4 percent higher than in June. Economists anticipated a 0.3 percent rise. Wage growth is welcomed by workers. But a rapid and sustained pickup in wages, if not blunted by other economic forces, can touch off inflation fears.

Federal Reserve Chairman Ben Bernanke told Congress last month that he was concerned about rising prices, but hoped a slowing economy eventually would ease inflationary pressures.

The Fed is meeting on Tuesday, and some economists believe the central bank will leave interest rates alone, taking its first break after tightening credit for more than two years.

The rest is at: http://news.yahoo.com/s/ap/20060804/ap_on_bi_go_ec_fi/economy;_ylt=Am7Xt09iMkm7Kcedfa4xeluyBhIF;_ylu=X3oDMTA2Z2szazkxBHNlYwN0bQ--

[Lorien]

7. I effectively lost my job yesterday

I've worked as a contract artist for the Walt Disney company for the past 12 years. Yesterday every Art director I've been working with during that time was laid off, their departments closed. Now Disney will be outsourcing ALL our jobs overseas. All the artists at Imagineering got axed as well. Profits were actually up last quarter compared to the previous three, but they weren't high enough for the "bottom line" managers. Great American Family company, eh?

[marmar]

8. Sorry about that...

What I don't understand about these companies, like Disney, that rely on the American middle class to keep them profitable, is who they think will buy their products if everyone here is unemployed or working at WalMart? Capitalism is eating itself alive.

[Lorien]

9. That's exactly what one of my laid off Art Directors was saying yesterday

He also said that he had called to every other corporation in LA that he was associated with yesterday, looking for another job or some freelance-but all had the same story "we aren't hiring or freelancing any work out, in fact, we're hoping to make some cuts soon...." The companies that I've talked to have all said the same. It's very grim out there.Disney caters to the middle class, or always has...but some years ago I remember a friend of mine who had been in a meeting with Micheal Eisner said that he had voiced concern that disney's park entry fees had gotten too high for the middle class to afford. "Well then fuck the middle class" was Eisner's reply. I think that most corporate CEOs have foolishly held the same belief for some time now.

BTW-the same art director also said yesterday "2008 can't get here soon enough"!