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Fri Jan 8, 2021, 08:33 AM

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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Response to BumRushDaShow (Original post)

Fri Jan 8, 2021, 08:33 AM

1. Links to earlier reports:

Good morning, all.

Wed Jan 6, 2021: Links to earlier reports:

Fri Dec 4, 2020: Links to earlier reports:

Wed Dec 2, 2020: Links to earlier reports:

Fri Nov 6, 2020: Links to earlier reports:

Wed Nov 4, 2020: Links to earlier reports:

Fri Oct 2, 2020: Links to earlier reports:

Wed Sep 30, 2020: Links to earlier reports:

Fri Sep 4, 2020: Links to earlier reports:

Wed Sep 2, 2020: Links to earlier reports:

Fri Aug 7, 2020: Links to earlier reports:

Wed Aug 5, 2020: Links to earlier reports:

Thu Jul 2, 2020: Links to earlier reports:

Fri Jun 5, 2020: Links to earlier reports:

Fri May 8, 2020: Links to earlier reports:

Friday, April 3, 2020: Links to earlier reports:

Wednesday, March 4, 2020: Links to earlier reports:

Friday, February 7, 2020: Links to earlier reports:

Thursday, January 9, 2020: Links to earlier reports:

Updated from this post of Friday, December 6, 2019: Good morning. Links to earlier reports:

-- -- -- -- -- --

[center]Past Performance is Not a Guarantee of Future Results.[/center]

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2020:

Private-sector employment decreased by 123,000 from November to December, seasonally adjusted

Bureau of Labor Statistics, for employment in November 2020:

Job Growth Slows Sharply As Pandemic Takes Toll On Economy

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2020:

Private-sector employment increased by 307,000 from October to November, on a seasonally adjusted

Bureau of Labor Statistics, for employment in October 2020:

U.S. added 638,000 jobs in October, unemployment rate slides to 6.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in October 2020:

Private-sector employment increased by 365,000 from September to October, on a seasonally adjusted

Bureau of Labor Statistics, for employment in September 2020:

September jobs report: US economy gains 661,000 payrolls, unemployment rate ticks down to 7.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in September 2020:

Private-sector employment increased by 749,000 from August to September on seasonally adjusted basis

Bureau of Labor Statistics, for employment in August 2020:

Economy adds 1.4 million jobs in August, and the unemployment rate fell below 10 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in August 2020:

Private-sector employment increased by 428,000 from July to August, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in July 2020:

Nonfarm payroll employment rises by 1.8 million in July; unemployment rate falls to 10.2%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in July 2020:

Private-sector employment increased by 167,000 from June to July, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in June 2020:

Nonfarm payroll employment rises by 4.8 million in June; unemployment rate falls to 11.1%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in June 2020:

ADP National Employment Report: Private Sector Employment Increased by 2,369,000 Jobs in June

Bureau of Labor Statistics, for employment in May 2020:

Unemployment rate drops to 13 percent, as the economy began to lose jobs at a slower pace

ADP[sup]®[/sup] (Automatic Data Processing), for employment in May 2020:

Private-sector employment decreased by 2,760,000 from April to May, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in April 2020:

Jobless rate soared to 14.7% in April as U.S. shed 20.5 million jobs amid coronavirus pandemic

ADP[sup]®[/sup] (Automatic Data Processing), for employment in April 2020:

ADP National Employment Report: Private Sector Employment Decreased by 20,236,000 Jobs in April

Bureau of Labor Statistics, for employment in March 2020:

Nonfarm payroll employment falls by 701,000 in March; unemployment rate rises to 4.4%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in March 2020:

Private-sector employment decreased by 27,000 from February to March, on a seasonally adjusted basis

Bureau of Labor Statistics, for employment in February 2020:

The U.S. labor market showed strength in February, adding 273,000 jobs

ADP[sup]®[/sup] (Automatic Data Processing), for employment in February 2020:

U.S. adds 183,000 private-sector jobs in February, ADP says

Bureau of Labor Statistics, for employment in January 2020:

The economy added 225,000 jobs in January, showing continued strength

ADP[sup]®[/sup] (Automatic Data Processing), for employment in January 2020:

ADP says 291,000 private-sector jobs created in January, largest gain in 4 years

Bureau of Labor Statistics, for employment in December 2019:

Economy adds 145,000 jobs in December as unemployment rate remains at 3.5 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2019:

U.S. private sector adds the most jobs in eight months

Bureau of Labor Statistics, for employment in November 2019:

Labor market remained strong in November as U.S. economy added 266,000 jobs

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2019:

U.S. private sector job growth slows down sharply in November: ADP

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Response to mahatmakanejeeves (Reply #1)

Fri Jan 8, 2021, 08:39 AM

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

3. Oh, you're up. Good morning. I've got more to come. NT

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Response to mahatmakanejeeves (Reply #3)

Fri Jan 8, 2021, 08:44 AM

5. You and progree can have at it!

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Response to BumRushDaShow (Original post)

Fri Jan 8, 2021, 08:41 AM

4. As usual, the Democrat has a steaming pile to clean up

following a corrupt republican administration.

Good luck, President Biden!

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Response to BumRushDaShow (Original post)

Fri Jan 8, 2021, 08:47 AM

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.

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Response to BumRushDaShow (Original post)

Fri Jan 8, 2021, 11:00 AM

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

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
2020: 214 251 -1373 -20787 2725 4781 1761 1493 711 654 336 -140
Feb and March of 2020 are Corrected. November and December are Preliminary. In thousands

   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
2020: -76 73 -3196 -22166 3854 4876 1677 3499 267 2126 140 21
Jan and Feb of each year are affected by changes in population controls. In thousands

   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)
Monthly change in thousands, all 12 months:
2020: -124 -7 -1727 -6243 1722 1597 288 733 -740 640 -182 31
Total count in thousands, all 12 months:
2020: 164455 164448 162721 156478 158200 159797 160085 160818 160078 160718 160536 160567
December is down 3.881 million from February -- lots of people are discouraged from looking because of poor prospects and/or concerns over coronavirus
January and February data affected by changes in population controls.


# 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 . The continuing claims in all programs statistic lags by about 2 1/2 weeks, the above is the latest as of Friday 1/8. )

https://www.dol.gov/ui/data.pdf
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



# 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

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Response to progree (Reply #8)

Fri Jan 8, 2021, 11:35 AM

9. Good morning!



This is me --

It's been one helluva week.

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Response to BumRushDaShow (Reply #9)

Fri Jan 8, 2021, 12:19 PM

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?

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Response to progree (Reply #10)

Fri Jan 8, 2021, 01:20 PM

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.

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Response to BumRushDaShow (Original post)

Fri Jan 8, 2021, 01:29 PM

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

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Response to BumRushDaShow (Original post)


Response to BumRushDaShow (Original post)

Sat Jan 9, 2021, 09:18 AM

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.

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https://twitter.com/sechaney
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Response to mahatmakanejeeves (Reply #14)

Sat Jan 9, 2021, 09:55 AM

15. "Worst Since 1939"

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Response to BumRushDaShow (Original post)

Mon Jan 11, 2021, 06:08 PM

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}

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Response to BumRushDaShow (Original post)

Mon Jan 11, 2021, 08:13 PM

17. K&R. Thank you for assembling this data and the info links for DU.

KY.........

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