Fri Dec 4, 2020, 09:43 AM
mahatmakanejeeves (35,772 posts)
Job Growth Slows Sharply As Pandemic Takes Toll On Economy
Source: NPR
Job Growth Slows Sharply As Pandemic Takes Toll On Economy December 4, 2020 8:37 AM ET Scott Horsley U.S. employers sharply scaled back their hiring last month, as the coronavirus pandemic put new pressure on restaurants, retailers and other businesses. The Labor Department said Friday employers added just 245,000 jobs in November, down from a revised 610,000 in October. The unemployment rate dipped to 6.7%, from 6.9% the month before. So far the U.S. has recovered 56% of the jobs that were lost in March and April, and payroll employment is still 9.8 million below its pre-pandemic levels. The slowdown in job growth comes as new infections are surging, and as Congress wrestles with whether to extend relief measures currently set to expire the day after Christmas. This week, the United States set a record with more than 100,000 people hospitalized with the coronavirus. More than 200,000 new infections were diagnosed on Thursday, and nearly 3,000 people died that day from COVID-19. {snip} Read more: https://www.npr.org/2020/12/04/942114022/job-growth-slows-sharply-in-november-as-pandemic-takes-toll-on-economy I forgot all about the jobs report. -- -- -- -- -- -- U.S. economy gains just 245,000 jobs in final report of 2020 as recovery stalls with Covid surging "The virus is in the driver's seat. The virus is what determines the trajectory of the recovery," one economist said. https://www.nbcnews.com/business/economy/u-s-economy-gains-just-245-000-jobs-final-report-n1249983
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8 replies, 858 views
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Author | Time | Post |
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mahatmakanejeeves | Dec 2020 | OP |
mahatmakanejeeves | Dec 2020 | #1 | |
mahatmakanejeeves | Dec 2020 | #2 | |
BumRushDaShow | Dec 2020 | #3 | |
mahatmakanejeeves | Dec 2020 | #4 | |
BumRushDaShow | Dec 2020 | #5 | |
mahatmakanejeeves | Dec 2020 | #6 | |
mahatmakanejeeves | Dec 2020 | #7 | |
mahatmakanejeeves | Dec 2020 | #8 |
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 09:53 AM
mahatmakanejeeves (35,772 posts)
1. From the source:
Last edited Fri Dec 4, 2020, 01:56 PM - Edit history (2) Payroll employment rises by 245,000 in November; unemployment rate edges down to 6.7%
Economic News Release USDL-20-2184
Employment Situation Summary Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, December 4, 2020 Technical information: Household data: [email protected] * www.bls.gov/cps Establishment data: [email protected] * www.bls.gov/ces Media contact: (202) 691-5902 * [email protected] THE EMPLOYMENT SITUATION -- NOVEMBER 2020 Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However, the pace of improvement in the labor market has moderated in recent months. In November, notable job gains occurred in transportation and warehousing, professional and business services, and health care. Employment declined in government and retail trade. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note. Household Survey Data In November, the unemployment rate edged down to 6.7 percent. The rate is down by 8.0 percentage points from its recent high in April but is 3.2 percentage points higher than it was in February. The number of unemployed persons, at 10.7 million, continued to trend down in November but is 4.9 million higher than in February. (See table A-1. For more information about how the household survey and its measures were affected by the coronavirus pandemic, see the box note at the end of this news release.) {snip} Household Survey Supplemental Data In November, 21.8 percent of employed persons teleworked because of the coronavirus pandemic, up from 21.2 percent in October. These data refer to employed persons who teleworked or worked at home for pay at some point in the last 4 weeks specifically because of the pandemic. {snip} The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in November. In manufacturing, the workweek decreased by 0.2 hour to 40.3 hours, and overtime decreased by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.2 hours. (See tables B-2 and B-7.) The change in total nonfarm payroll employment for September was revised up by 39,000, from +672,000 to +711,000, and the change for October was revised down by 28,000, from +638,000 to +610,000. With these revisions, employment in September and October combined was 11,000 more than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) ____________ The Employment Situation for December is scheduled to be released on Friday, January 8, 2021, at 8:30 a.m. (ET). {snip} * * * * * [center]Facilities for Sensory Impaired[/center] Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339. |
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 10:00 AM
mahatmakanejeeves (35,772 posts)
2. Links to earlier reports:
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 12:38 PM
BumRushDaShow (79,259 posts)
3. I got jammed up this morning
when my iPad started upgrading to 14.2 (that's what I usually have to alert me to the reports
![]() Good morning (at least what is left of it) and TGIF! ![]() |
Response to BumRushDaShow (Reply #3)
Fri Dec 4, 2020, 01:04 PM
mahatmakanejeeves (35,772 posts)
4. Oh, I went through that a couple of weeks ago on my phone. It took some time.
I'm glad that's out of the way.
I had forgotten all about the report. Then I noticed it was 8:41. I flipped over to DU to see what you had said. Nada. What? I was afraid we were going to have to pay ransom. Good afternoon, by now. |
Response to mahatmakanejeeves (Reply #4)
Fri Dec 4, 2020, 01:11 PM
BumRushDaShow (79,259 posts)
5. I got a new iPhone last month
(after 6 years) and that came with the latest version (at the time). The iPad was still on 12.1 or something and I think I hit something going through some settings and it downloaded it, and at that point, it stopped sending me the breaking news banners, so let it go on and finish upgrading.
![]() ![]() C'est la vie! |
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 01:54 PM
mahatmakanejeeves (35,772 posts)
6. Additional links:
It used to be that you could get free access to articles in The Wall Street Journal. by going in through TWSJ.'s Twitter account or the Twitter accounts of the authors:
How to get around the paywall to read articles in The Wall Street Journal.:
For free access to articles in The Wall Street Journal., trying going in through the authors' Twitter feeds: This trick doesn't seem to work anymore, but you might be able to get in if they've slipped up. Here are those accounts: * * * * * The Wall Street Journal.: @WSJ https://twitter.com/wsj Wall Street Journal * * * * * Ben Leubsdorf: @BenLeubsdorf https://twitter.com/BenLeubsdorf I cover the economy at @WSJ. @ConMonitorNews, @AP, @the_herald alum. DC native. Hyperactive news omnivore. Also I like burritos. [email protected] * * * * * Josh Zumbrun: @JoshZumbrun https://twitter.com/JoshZumbrun National economics correspondent for the Wall Street Journal. Covering the world's usual state of greed and disorder, confusion and apathy. [email protected] * * * * * Nick Timiraos: @NickTimiraos https://twitter.com/NickTimiraos National economics correspondent, The Wall Street Journal Please look at the tweets, as Nick Timiraos likes to slice and dice the data every which way. Also, link to the "11 charts " article from his Twitter feed to get past TWSJ.'s paywall. * * * * * Jeffrey Sparshott: @jeffsparshott https://twitter.com/jeffsparshott [email protected] * * * * * Paul Vigna: @paulvigna https://twitter.com/paulvigna Markets, bitcoin, and the zombie apocalypse. * * * * * Eric Morath: @EricMorath https://twitter.com/EricMorath [email protected] I'm a Wall Street Journal economy reporter, dad, husband and Spartan for life. [email protected] * * * * * Sarah Chaney: @sechaney https://twitter.com/sechaney Economy Reporter at The Wall Street Journal. Tar Heel. [email protected] * * * * * ![]() |
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 02:00 PM
mahatmakanejeeves (35,772 posts)
7. Links to charts and graphs from the BLS Twitter account:
Payroll employment rises by 245,000 in November; unemployment rate edges down to 6.7% http://go.usa.gov/vrK #JobsReport #BLSdata Link to tweet Impact of the COVID-19 pandemic on The Employment Situation for November 2020 https://go.usa.gov/x7z3r #JobsReport #BLSdata Link to tweet See our interactive graphics on today’s #JobsReport http://go.usa.gov/cn5B4 #BLSdata #DataViz Link to tweet Understanding BLS Unemployment Statistics #JobsReport #BLSdata Link to tweet |
Response to mahatmakanejeeves (Original post)
Fri Dec 4, 2020, 08:12 PM
mahatmakanejeeves (35,772 posts)
8. Secratary of Labor Eugene Scalia Praises 344,000-job gain in November.
On Earth, the number was 245,000. On the second floor of the DOL's Frances Perkins Building, the number was 344,000. This is what they mean by "cherry-picking the data."
Hat tip, I'm on their email list. I got this one this morning. News Release
STATEMENT BY U.S. SECRETARY OF LABOR EUGENE SCALIA ON THE NOVEMBER JOBS REPORT WASHINGTON, DC – U.S. Secretary of Labor Eugene Scalia issued the following statement regarding the November 2020 Employment Situation Report: “The economy continued to add jobs in November, with a 344,000 increase in private sector payrolls and labor demand continuing to grow in most sectors. However, jobs were lost in retail and food and beverage establishments in November, and a number of workers pulled away from the labor force amid rising coronavirus cases. We know from State-by-State data released two weeks ago that the employment situation varies significantly by State: in October, half the States were at 6% unemployment or lower, but two of the largest states—California and New York—were substantially above 9% that month. At 6.7%, the unemployment rate is lower than it was for the first five years of the last Administration following the Great Recession.” Agency Office of the Secretary Date December 4, 2020 Release Number 20-2193-NAT Contact: Eric Holland Phone Number 202-693-4676 Email [email protected] US Labor Department Retweeted See my statement about today’s jobs report: https://dol.gov/newsroom/releases/osec/osec20201204 Link to tweet |