January 2013’s unemployment rate increased to 7.9 percent
Total nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Retail trade, construction, health care, and wholesale trade added jobs over the month.
The number of unemployed persons, at 12.3 million, was little changed in January. The unemployment rate was 7.9 percent and has been at or near that level since September 2012.
Among the major worker groups, the unemployment rates for adult men (7.3 percent), adult women (7.3 percent), teenagers (23.4 percent), whites (7.0 percent), blacks (13.8 percent), and Hispanics (9.7 percent) showed little or no change in January. The jobless rate for Asians was 6.5 percent (not seasonally adjusted), little changed from a year earlier.
In January, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.7 million and accounted for 38.1 percent of the unemployed.
Both the employment-population ratio (58.6 percent) and the civilian labor force participation rate (63.6 percent) were unchanged in January.
The number of persons employed part time for economic reasons, at 8.0 million, changed little in January. 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 January, 2.4 million persons were marginally attached to the labor force, down by 366,000 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 804,000 discouraged workers in January, a decline of 255,000 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 remaining 1.6 million persons marginally attached to the labor force in January had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.
Total nonfarm payroll employment increased by 157,000 in January. In 2012, employment growth averaged 181,000 per month. In January, job gains occurred in retail trade, construction, health care, and wholesale trade, while employment edged down in transportation and warehousing.
Employment in retail trade rose by 33,000 in January, compared with an average monthly gain of 20,000 in 2012. Within the industry, job growth continued in January in motor vehicle and parts dealers (+7,000), electronics and appliance stores (+5,000), and clothing stores (+10,000).
In January, employment in construction increased by 28,000. Nearly all of the job growth occurred in specialty trade contractors (+26,000), with the gain about equally split between residential and nonresidential specialty trade contractors. Since reaching a low in January 2011, construction employment has grown by 296,000, with one-third of the gain occurring in the last 4 months. However, the January 2013 level of construction employment remained about 2 million below its previous peak level in April 2006.
Health care continued to add jobs in January (+23,000). Within health care, job growth occurred in ambulatory health care services (+28,000), which includes doctors’ offices and outpatient care centers. This gain was partially offset by a loss of 8,000 jobs in nursing and residential care facilities. Over the year, health care employment has increased by 320,000.
Employment increased in wholesale trade (+15,000) in January, with most of the increase occurring in its nondurable goods component (+11,000). Since the recent low point in May 2010, wholesale trade has added 291,000 jobs.
Mining employment increased (+6,000) over the month; employment in this industry has risen by 23,000 over the past 3 months.
Employment edged down in transportation and warehousing in January (-14,000). Couriers and messengers lost 19,000 jobs over the month, following strong seasonal hiring in November and December. Air transportation employment decreased by 5,000 in January.
Manufacturing employment was essentially unchanged in January and has changed little, on net, since July 2012.
Employment in other major industries, including financial activities, professional and businesses services, leisure and hospitality, and government, showed little change over the month.
Source: U.S. Bureau of Labor Statistics | Division of Labor Force Statistics
________________________________________________________________
Dow climbs above 14,000 on Friday, January 1, 2013
The Dow Jones industrial average climbed above 14,000 for the first time since the Great Recession.
The index rose as high as 14,000.97 in early trading. The Dow last traded above 14,000 in October 2007.
The Dow has gained 6.7 percent since the start of the year.
The Dow Jones Industrial Average is a stock market index that shows how the 30 largest publicly owned industrial companies, based in the United States, have traded during a standard trading session in the stock market. It was created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow. It was founded on May 26, 1896, and is now owned by Dow Jones Indexes.
______________________________________________________________
The Great Recession by the numbers
Dilemma X
The Great Recession and the Global Financial Crisis began in December 2007. By December 2008 the unemployment rate reached 7.2% and reached its peak in October 2009 with an unemployment rate of 10.2%. The financial crisis was triggered by a complex problems in the United States banking system, the U.S. housing bubble and other financial failures.
Past January unemployment rates:
January 2013 was 7.9% The number of unemployed persons was 12.3 million
January 2012 was 8.3% The number of unemployed persons was 12.8 million
January 2011 was 9.0% The number of unemployed persons was 13.9 million
January 2010 was 9.7% The number of unemployed persons was 14.8 million
January 2009 was 7.6% The number of unemployed persons was 11.6 million
_________________________________________________
President Barack Obama assumed office January 20, 2009.
In January 2009 the number of unemployed persons was 11.6 million and the unemployment rate was 7.6%.
Unemployment peaked in October 2009 with an unemployment rate of 10.2% and 15.7 million unemployed persons.
_______________________________________
Between January 2009 and March, 2009 more than 2 million jobs were lost and 663,000 were lost in March 2009 alone. The number of unemployed persons increased to 13.2 million that month.
________________________________________________
George W. Bush served as the 43rd President of the United States from January 20, 2001 – January 20, 2009
January 2001 the nation’s unemployment rate was 4.2% with a total of 6.0 million unemployed persons
January 2008 the nation’s unemployment rate was 4.9% with a total of 7.6 million unemployed persons. Unemployment rate was the following: whites 4.4% and for blacks 9.2%.
January 2009 the nation’s unemployment rate was 7.6% with a total of 11.6 million unemployed persons. For whites the unemployment rate was 6.9% and for African Americans it was 12.6%.
Bill Clinton served as the 42nd President of the United States from January 20, 1993 – January 20, 2001
January 1994 the nation’s unemployment rate was 6.7% with a total of 8.7 million unemployed persons.
January 2000 the nation’s unemployment rate was 4.0% with a total of 5.7 million unemployed persons. Unemployment rate was the following: whites 3.4% and for blacks 8.2%.
In September 2000 the unemployment rate was 3.9%. This was the first time the nation’s unemployment rate had been below 4.0% since January 1970. January 2001 the nation’s unemployment rate was 4.2%. The number of unemployed persons rose to 5.95 million.
__________________________________________________
January 2013
African American unemployment
African American unemployment for January 2013 decreased to 13.8% (Seasonally adjusted)
African American unemployment for December 2012 was 14.0% (Seasonally adjusted)
African American unemployment for November 2012 was 13.2% (Seasonally adjusted)
African American unemployment for October 2012 was 14.3% (Seasonally adjusted)
African American unemployment for September 2012 was13.4% (Seasonally adjusted)
African American unemployment for August 2012 was 14.1% (Seasonally adjusted)
African American unemployment for July 2012 was 14.1% (Seasonally adjusted)
African American unemployment for June 2012 was 14.4% (Seasonally adjusted)
African American unemployment for May 2012 was 13.6% (Seasonally adjusted)
African American unemployment for April 2012 was 13.0% (Seasonally adjusted)
African American unemployment for March 2012 was 14.0% (Seasonally adjusted)
African American unemployment for February 2012 was 14.1% (Seasonally adjusted)
African American unemployment for January 2012 was 13.6% (Seasonally adjusted)
African American unemployment for December 2011 was to 15.8% (Seasonally adjusted)
African American unemployment for November 2011 was 15.5% (Seasonally adjusted)
African American unemployment for October 2011 was 15.0% (Seasonally adjusted)
African American unemployment for September 2011 was 15.9% (Seasonally adjusted)
African American unemployment for August 2011 was 16.7% (Seasonally adjusted)
African American unemployment for July 2011 was 15.9% (Seasonally adjusted)
African American unemployment for June 2011 was 16.2% (Seasonally adjusted)
African American unemployment for May 2011 was 16.2% (Seasonally adjusted)
African American unemployment for April 2011 was 16.1% (Seasonally adjusted)
African American unemployment for May 2010 was 15.3% (Seasonally adjusted)
Dilemma X 
February 1, 2013
U.S. unemployment rate