Last week the Department of Labor, Bureau or Labor Statistics (BLS) released the 2013 Employment Situation report on data collected for August 2013. Each month the BLS reports on the US Employment Situation by surveying households across the United States. The August 2013 Employment Situation report posted a national unemployment rate of 7.3% which is little changed from the previous month.
Job creation during August came in with 169,000 jobs that were added to the US economy which was slight increase from the previous month. While more jobs were added than the previous month the quality of these jobs is more disappointing. Part-time jobs made up 65% of the jobs added in August. Of those jobs created at number there were notable job increases in Retail Trade (+44,000 jobs added), Health Care (+33,000 jobs added) and Professional and Business Services (+23,000 jobs added).
With national unemployment rate at 7.4% it means there are 11.3 million jobless Americans. Of that number, the Employment Situation reports there are 4.3 million who have been jobless for 27 weeks or more and are deemed long term unemployed. This group of long term unemployed increased from the previous month and represent 37.9% of the total national unemployment.
Not counted in the August national unemployment rate are 7.9 million involuntary part time workers. This group cannot find full time work or have had their hours reduced. Another category not counted in the national unemployment rate are the 2.3 million persons who are considered marginally attached to the labor force. This group is not counted as unemployed because they have not searched for work in the last four weeks. Among the marginally attached workers there are 866,000 million discouraged workers who has simply given up because they do not believe there is a job out there for them.
To view the full report can go to http://www.bls.gov/news.release/pdf/empsit.pdf. The next national Employment Situation report will be released by the Labor Department on October 4, 2013 that will cover data collected during September 2013.
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