Fri Jan 8, 2021, 08:33 AM
BumRushDaShow (74,423 posts)
The economy lost 140,000 jobs in December
Source: Washington Post
The U.S. economy shed 140,000 jobs in December — the first month of loss since the spring, as the recovery makes a U-turn after months of surging infections and delayed Congressional action. The unemployment rate stayed level at 6.7 percent. Economists have been warning about the potential for the labor market to go south since the summer. Yet, the economy had continued to add jobs, albeit at an increasingly slowing pace, since May as it worked to gain back the 22 million jobs lost in the first months of the pandemic. The data, released by the Bureau of Labor Statistics on Friday morning, points to the significant economic challenges facing Biden as he inherits one of the weakest labor markets in years from Trump, with the end of the pandemic still out of sight and political crisis subsuming Washington yet again. Read more: https://www.washingtonpost.com/business/2021/01/08/jobs-report-unemployment-december-2020/ More to come... Original Yahoo!Finance article - Payrolls drop for the first time since April,unemployment rate steadies at 6.7%
Job growth turned negative for the first time since April in the final month of 2020, as the pandemic that rocked the economy over the past year dealt yet another blow to the labor market. The Labor Department released its December jobs report Friday morning at 8:30 a.m. ET. https://www.yahoo.com/now/december-jobs-report-payrolls-coronavirus-pandemic-2020-labor-200212779.html
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17 replies, 843 views
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Author | Time | Post |
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BumRushDaShow | Jan 8 | OP |
mahatmakanejeeves | Jan 8 | #1 | |
BumRushDaShow | Jan 8 | #2 | |
mahatmakanejeeves | Jan 8 | #3 | |
BumRushDaShow | Jan 8 | #5 | |
Yeehah | Jan 8 | #4 | |
RussBLib | Jan 8 | #6 | |
yaesu | Jan 8 | #7 | |
progree | Jan 8 | #8 | |
BumRushDaShow | Jan 8 | #9 | |
progree | Jan 8 | #10 | |
BumRushDaShow | Jan 8 | #11 | |
mahatmakanejeeves | Jan 8 | #12 | |
mahatmakanejeeves | Jan 8 | #13 | |
mahatmakanejeeves | Jan 9 | #14 | |
BumRushDaShow | Jan 9 | #15 | |
mahatmakanejeeves | Jan 11 | #16 | |
KY_EnviroGuy | Jan 11 | #17 |
Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 08:33 AM
mahatmakanejeeves (34,593 posts)
1. Links to earlier reports:
Response to mahatmakanejeeves (Reply #1)
Fri Jan 8, 2021, 08:39 AM
BumRushDaShow (74,423 posts)
2. Thanks! WaPo finally got some copy up so I replaced with that!
TGIF and good morning!
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Response to BumRushDaShow (Reply #2)
Fri Jan 8, 2021, 08:40 AM
mahatmakanejeeves (34,593 posts)
3. Oh, you're up. Good morning. I've got more to come. NT
Response to mahatmakanejeeves (Reply #3)
Fri Jan 8, 2021, 08:44 AM
BumRushDaShow (74,423 posts)
5. You and progree can have at it!
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Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 08:41 AM
Yeehah (1,816 posts)
4. As usual, the Democrat has a steaming pile to clean up
following a corrupt republican administration.
Good luck, President Biden! |
Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 08:47 AM
RussBLib (4,447 posts)
6. How fitting
As T**** crashes out the door, he leaves a total fucking mess.
Yes, yet again, a Democrat has to clean up the mess a Republican leaves behind. |
Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 11:00 AM
yaesu (5,700 posts)
7. but, but, but the stock market,!!!! but, but, but the $600!!!! what a fucking capitalistic joke this
country is. From now on, if anyone asks, I'm canadian.
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Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 11:25 AM
progree (7,604 posts)
8. Links to some BLS Data Series Numbers and Graphs. And some key numbers
Everyone of these data series comes with a table and graph.
# Nonfarm Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0000000001 Monthly changes (in thousands): https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth 2019: 269 1 147 210 85 182 194 207 208 185 261 184 NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0000000001 # Employed in thousands from the separate Household Survey, http://data.bls.gov/timeseries/LNS12000000 Monthly changes (in thousands): http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth 2019: -120 279 -95 -68 142 248 486 244 369 126 184 195 NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/LNU02000000 # Nonfarm PRIVATE Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0500000001 Monthly changes: https://data.bls.gov/timeseries/CES0500000001?output_view=net_1mth ^-Good for comparison to the ADP report that typically comes out a few days earlier NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0500000001 # INFLATION ADJUSTED Weekly Earnings of Production and Non-Supervisory Workers http://data.bls.gov/timeseries/CES0500000031 # Labor Force http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count) # Unemployed http://data.bls.gov/timeseries/LNS13000000 2020: 5796 5717 7185 23109 20975 17697 16308 13542 12535 11049 10728 10736 (in thousands) (but continuing claims for unemployment insurance IN ALL PROGRAMS for the week ending December 19 was 19177 thousand, it's higher because, because, because it's not lower and its not the same, that's why ![]() https://www.dol.gov/ui/data.pdf # ETPR (Employment-To-Population Ratio) aka Employment Rate http://data.bls.gov/timeseries/LNS12300000 # LFPR (Labor Force Participation rate) http://data.bls.gov/timeseries/LNS11300000 # Unemployment rate http://data.bls.gov/timeseries/LNS14000000 # U-6 unemployment rate http://data.bls.gov/timeseries/LNS13327709 # NILF -- Not in Labor Forcehttp://data.bls.gov/timeseries/LNS15000000 # NILF-WJ -- Not in Labor Force, Wants Job http://data.bls.gov/timeseries/LNS15026639 # Part-Time Workers who want Full-Time Jobs (Table A-8's Part-Time For Economic Reasons) http://data.bls.gov/timeseries/LNS12032194 # Part-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12600000 # Full-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12500000 # Multiple Jobholders as a Percent of Employed (Table A-9) https://data.bls.gov/timeseries/LNS12026620 # Civilian non-institutional population https://data.bls.gov/timeseries/LNS10000000 # Black unemployment rate https://data.bls.gov/timeseries/LNS14000006 All 12 months of 2020: 6.1 6.0 6.8 16.7 16.7 15.3 14.4 12.8 12.0 10.8 10.3 9.9 Trump: "what have you got to lose?" # Hispanic or Latino unemployment rate https://data.bls.gov/timeseries/LNS14000009 All 12 months of 2020: 4.3 4.4 6.0 18.9 17.6 14.5 12.7 10.5 10.3 8.8 8.4 9.3 # White unemployment rate https://data.bls.gov/timeseries/LNS14000003 All 12 months of 2020: 3.0 3.0 3.9 14.1 12.3 10.1 9.2 7.4 7.0 6.0 5.9 6.0 LFPR - Labor Force Participation Rate for some age groups The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered). All divided by the civilian non-institutional population age 16+. SA means Seasonally adjusted. NSA means Not Seasonally Adjusted 16+: SA: http://data.bls.gov/timeseries/LNS11300000 NSA: http://data.bls.gov/timeseries/LNU01300000 25-34: SA: http://data.bls.gov/timeseries/LNS11300089 NSA: http://data.bls.gov/timeseries/LNU01300089 25-54: SA: http://data.bls.gov/timeseries/LNS11300060 NSA: http://data.bls.gov/timeseries/LNU01300060 55+: SA: http://data.bls.gov/timeseries/LNS11324230 NSA: http://data.bls.gov/timeseries/LNU01324230 65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU01300097 LFPR - Labor Force Particpation Rate (prime age 25-54) by gender All: http://data.bls.gov/timeseries/LNS11300060 Men: http://data.bls.gov/timeseries/LNS11300061 Women: http://data.bls.gov/timeseries/LNS11300062 ETPR - Employment to Population Ratio for some age groups SA means Seasonally adjusted. NSA means Not Seasonally Adjusted 16+: SA: http://data.bls.gov/timeseries/LNS12300000 NSA: http://data.bls.gov/timeseries/LNU02300000 25-34: http://data.bls.gov/timeseries/LNS12300089 NSA: http://data.bls.gov/timeseries/LNU02300089 25-54: SA: http://data.bls.gov/timeseries/LNS12300060 NSA: http://data.bls.gov/timeseries/LNU02300060 55+: SA: http://data.bls.gov/timeseries/LNS12324230 NSA: http://data.bls.gov/timeseries/LNU02324230 65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU02300097 |
Response to progree (Reply #8)
Fri Jan 8, 2021, 11:35 AM
BumRushDaShow (74,423 posts)
9. Good morning!
![]() This is me -- ![]() It's been one helluva week. ![]() |
Response to BumRushDaShow (Reply #9)
Fri Jan 8, 2021, 12:19 PM
progree (7,604 posts)
10. And good morning! Note the Prime age Labor Force Participation Rate ...
Labor Force Participation Rate, Age 25-54 (known as "prime age" ), seasonally adjusted
https://data.bls.gov/timeseries/LNS11300060 All 12 months of 2020: 83.0 82.9 82.5 79.8 80.6 81.5 81.3 81.4 80.9 81.3 80.9 81.0 What's startling is the graph: After falling during the lockdown and rising thereafter to a local peak in June of 81.5 (but still far below January's 83.0), it has been wiggly-line falling to the present 81.0 level This is the graph, but it tends to disappear in hours or days, but the graph is available at the above link. ![]() ================================== Yes, it's been a weird week. I've woken up the last 2 mornings and about my first conscious thought is, OMG, what weird horrible thing is going to be in the news today? |
Response to progree (Reply #10)
Fri Jan 8, 2021, 01:20 PM
BumRushDaShow (74,423 posts)
11. Looks like it is reverting back
to a trend that had been underway before 2016, as if the past 4 years were an aberration (which they probably were).
![]() And agree - I'm still trying to catch up on what is going on with all the items that are continually breaking news. ![]() |
Response to BumRushDaShow (Original post)
Fri Jan 8, 2021, 01:29 PM
mahatmakanejeeves (34,593 posts)
12. Yesterday's initial unemployment benefits claims
progree's post reminded me that I forgot to get that yesterday. Here you go:
https://www.dol.gov/ui/data.pdf News Release
Connect with DOL at https://blog.dol.gov TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (Eastern) Thursday, January 7, 2021 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS SEASONALLY ADJUSTED DATA In the week ending January 2, the advance figure for seasonally adjusted initial claims was 787,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 787,000 to 790,000. The 4-week moving average was 818,750, a decrease of 18,750 from the previous week's revised average. The previous week's average was revised up by 750 from 836,750 to 837,500. The advance seasonally adjusted insured unemployment rate was 3.5 percent for the week ending December 26, unchanged from the previous week's revised rate. The previous week's rate was revised down by 0.1 from 3.6 to 3.5 percent. The advance number for seasonally adjusted insured unemployment during the week ending December 26 was 5,072,000, a decrease of 126,000 from the previous week's revised level. The previous week's level was revised down by 21,000 from 5,219,000 to 5,198,000. The 4-week moving average was 5,274,750, a decrease of 177,250 from the previous week's revised average. The previous week's average was revised down by 5,250 from 5,457,250 to 5,452,000. {snip} UNADJUSTED DATA {snip. Emphasis mine} The total number of continued weeks claimed for benefits in all programs for the week ending December 19 was 19,176,857, a decrease of 419,228 from the previous week. There were 1,803,796 weekly claims filed for benefits in all programs in the comparable week in 2019. {snip the rest of the twelve-page news release, until the end} Weekly Claims Archives Weekly Claims Data U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at (202) 693-7828 (voice) or (800) 877-8339 (federal relay). U.S. Department of Labor Employment and Training Administration Washington, D.C. 20210 Release Number: USDL 21-1-NAT Program Contacts: Thomas Stengle: (202) 693-2991 Media Contact: (202) 693-4676 |
Response to BumRushDaShow (Original post)
mahatmakanejeeves This message was self-deleted by its author.
Response to BumRushDaShow (Original post)
Sat Jan 9, 2021, 09:18 AM
mahatmakanejeeves (34,593 posts)
14. Job Losses in 2020 Were Worst Since 1939, With Hispanics, Blacks, Teenagers Among Hardest Hit
ECONOMY | U.S. ECONOMY
Job Losses in 2020 Were Worst Since 1939, With Hispanics, Blacks, Teenagers Among Hardest Hit Steep losses in leisure and hospitality drove up unemployment across groups already disproportionately affected by economic impact of coronavirus By Sarah Chaney Cambon and Danny Dougherty Jan. 8, 2021 2:17 pm ET December capped the worst year for U.S. job losses in records tracing back to 1939, with Hispanics, Blacks, teenagers and high-school dropouts hit particularly hard. In 2020, the economy shed a net 9.37 million jobs, exceeding the 5.05 million jobs lost in 2009, in the aftermath of the global financial crisis. Hardest hit last year were hotels, restaurants and related industries, driving up unemployment among minorities, the young and less educated workers—groups already disproportionately hit by the economic effects of the coronavirus. Unemployment rates among those groups shot up in April, after the pandemic hit, and then started to decline. Then, cold December weather triggered another big increase in joblessness. December’s 140,000 drop in payrolls was the first since April. But unlike in April, December’s job losses were concentrated in the leisure and hospitality industries, said Julia Pollak, a labor economist at job site ZipRecruiter. TO READ THE FULL STORY SUBSCRIBE SIGN IN https://twitter.com/sechaney sarah.chaney@wsj.com https://twitter.com/DannyDougherty danny.dougherty@wsj.com |
Response to mahatmakanejeeves (Reply #14)
Sat Jan 9, 2021, 09:55 AM
BumRushDaShow (74,423 posts)
15. "Worst Since 1939"
Response to BumRushDaShow (Original post)
Mon Jan 11, 2021, 06:08 PM
mahatmakanejeeves (34,593 posts)
16. Council of Economic Advisers: December Job Losses Driven by Leisure and Hospitality Industry
ECONOMY & JOBS
December Job Losses Driven by Leisure and Hospitality Industry January 11, 2021 3 minute read Council of Economic Advisers The Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report for December 2020 last week. Employment fell by 140,000 from November to December according to the establishment survey, ending 7 consecutive months of job gains as States once again engaged in partial economic lockdowns even while COVID-19 cases proliferate amidst these shutdowns. While employment in many industries increased by 358,000, the leisure and hospitality industry—an industry which represents some of the lowest wage earners on average—experienced a loss of 498,000 jobs. {snip} Thanks to the leadership of President Trump, the achievement of a vaccine renews hope to the American people that States under lockdown will soon lift restrictions on economic activity. Employees in the leisure and hospitality industry are those most likely to see employment gains as a result. {snip} |
Response to BumRushDaShow (Original post)
Mon Jan 11, 2021, 08:13 PM
KY_EnviroGuy (12,267 posts)
17. K&R. Thank you for assembling this data and the info links for DU.
KY.........
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