Earlier this week the Department of Labor, Bureau or Labor Statistics (BLS) released the Employment Situation for data collected during November 2013. Each month the BLS reports on the US Employment Situation by surveying households across the United States. The November 2013 Employment Situation report posted a national unemployment rate of 7% which is a a strong decrease in employment from the previous month which was 7.3% in October. Job creation during November came in with 203,000 jobs that were added to the US economy which was a slight decrease from the previous month where the economy added 204,000 jobs.
Of those jobs created in November there were increases in Professional and Business Services (+35,000), Transportation and Warehousing (+31,000 jobs added), Healthcare (+28,000 jobs added) and Manufacturing (+27,000 jobs added). While the Federal Government lost 7,000 jobs during November with government losing 92,000 jobs over the last 12 months.
With national unemployment rate at 7% there are 10.9 million jobless Americans. Of that number, the Employment Situation reports there are 4.1 million who have been jobless for 27 weeks or more and are deemed long term unemployed. This group of long term unemployed decreased from the previous month. The long term unemployed make up 37.3% of the total national unemployment.
Not counted in the November national unemployment rate are 7.7 million involuntary part time workers. This group of involuntary part time cannot find full time work or have had their hours reduced to part time. Another category not counted in the national unemployment rate are the 1.3 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 762,000 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 go to Employment Situation – November 2013. The next national Employment Situation report will be released by the Department of Labor on January 10, 2014 and will cover data collected during December.
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