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Friday, May 02, 2014

Actual report

Starting to read the ACTUAL report... The BLS report states:
The civilian labor force dropped by 806,000 in April, following an increase of
503,000 in March. The labor force participation rate fell by 0.4 percentage
point to 62.8 percent in April. lowest since 1978
So the decline of 0.4% in unemployment rate is because 806,000 folks quit the workforce. Not as stellar as the the headlines suggest.
The average workweek for all employees on private nonfarm payrolls was unchanged
at 34.5 hours in April. The manufacturing workweek decreased by 0.2 hour in
April to 40.8 hours, and factory overtime was unchanged at 3.5 hours.
These are not strong numbers.
In April, average hourly earnings for all employees on private nonfarm payrolls
were unchanged at $24.31. Over the past 12 months, average hourly earnings
have risen by 1.9 percent.
Hours * (hourly pay) = earnings. Flat hourly earnings is not a good thing for the economy. The annual change in earnings per employee doesn't show a meaningful amount of real growth (growth after inflation), so the rich are still getting richer and the poor aren't keeping up.
But at least the report has strong headlines and isn't a disaster!

I found the Jobs market right here... http://www.benefits.gov/

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