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Data for the Classroom from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ U.S. Unemployment Situation for June 2011 Posted  July 10, 2011 Terms of Use:  These slides are made available under Creative Commons License  Attribution—Share Alike 3.0  . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook,  Introduction to Economics ,  from BVT Publishers.
Job Growth Slows Again in June Total payroll jobs grew in June for the 9 th  straight month, but the pace of job growth slowed to a crawl, at 18,000. The May number was revised downward from 54,000 to just 25,000 An increase of 57,000 in private nonfarm jobs was offset by a 39,000 decrease in federal, state, and local government jobs. A separate household survey that includes farm jobs and self-employment showed a decrease of 445,000 jobs Posted July 10, 2011 on Ed Dolan’s Econ Blog  http://dolanecon.blogspot.com
Unemployment Rate Edges Up The unemployment rate edged upward to 9.2 percent, its highest level since December 2010 The number of unemployed persons increased by 173,000 The labor force, which includes both employed and unemployed persons, decreased by 272,000 as discouraged workers stopped looking for jobs The unemployment rate is the ratio of unemployed persons to the labor force Posted July 10, 2011 on Ed Dolan’s Econ Blog  http://dolanecon.blogspot.com
Broad vs. Standard Unemployment Rate The government also calculates a broader measure of unemployment called U-6 The numerator includes Unemployed persons Marginally attached  persons who would like to work but are not working because they think there are no jobs Persons working part time who would prefer full-time work but can’t find it The denominator includes the labor force plus the marginally attached Posted July 10, 2011 on Ed Dolan’s Econ Blog  http://dolanecon.blogspot.com

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Employment-Population Ratio Near Its Lowest Point The employment to population ratio dropped to 52.8 percent, equaling the lowest levels reached during the recession The long decline in the ratio reflects several factors Slow job growth More discouraged workers, who do not look for jobs because they think none are available More retired persons as the population ages Posted July 10, 2011 on Ed Dolan’s Econ Blog  http://dolanecon.blogspot.com

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US Job Growth Slows Again in June

  • 1. Data for the Classroom from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ U.S. Unemployment Situation for June 2011 Posted July 10, 2011 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.
  • 2. Job Growth Slows Again in June Total payroll jobs grew in June for the 9 th straight month, but the pace of job growth slowed to a crawl, at 18,000. The May number was revised downward from 54,000 to just 25,000 An increase of 57,000 in private nonfarm jobs was offset by a 39,000 decrease in federal, state, and local government jobs. A separate household survey that includes farm jobs and self-employment showed a decrease of 445,000 jobs Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  • 3. Unemployment Rate Edges Up The unemployment rate edged upward to 9.2 percent, its highest level since December 2010 The number of unemployed persons increased by 173,000 The labor force, which includes both employed and unemployed persons, decreased by 272,000 as discouraged workers stopped looking for jobs The unemployment rate is the ratio of unemployed persons to the labor force Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  • 4. Broad vs. Standard Unemployment Rate The government also calculates a broader measure of unemployment called U-6 The numerator includes Unemployed persons Marginally attached persons who would like to work but are not working because they think there are no jobs Persons working part time who would prefer full-time work but can’t find it The denominator includes the labor force plus the marginally attached Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  • 5. Employment-Population Ratio Near Its Lowest Point The employment to population ratio dropped to 52.8 percent, equaling the lowest levels reached during the recession The long decline in the ratio reflects several factors Slow job growth More discouraged workers, who do not look for jobs because they think none are available More retired persons as the population ages Posted July 10, 2011 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com