3 Ocak 2013 Perşembe

Who is (or isn't) Counted as Unemployed?

To contact us Click HERE


This little 2 minute video does a good job in explaining how the Bureau of Labor Statistics measures who is Unemployed, who is not in labor market, who is marginally in the labor market and who is working part time for economic reasons.

Only people who are "Unemployed" are counted in the (10%) unemployment rate. The other 3 categories may or may not be included in the U-6 Broader measurement of unemployment (~17%). The video pokes fun that the government would rather have the public and media focus on the smaller number in order to keep optimism high.

What's the Maximum Weekly Unemployment Benefit?

To contact us Click HERE
If you're recently unemployed, you may be wondering what the maximum weekly amount of money that you may be getting from the government. Fortunately, MSN Money published a comparison of how much your UI benefits could be... Note: The amount you get depends on the state in which you worked, not the state that you may move to during your jobless time.

Maximum Weekly Unemployment Benefit By State
  1. Alabama - $255
  2. Alaska - $370
  3. Arizona - $240
  4. Arkansas - $409
  5. California - $450
  6. Colorado - $475
  7. Connecticut - $519
  8. Delaware - $330
  9. District of Columbia (Washington DC) - $359
  10. Florida - $275
  11. Georgia - $330
  12. Hawaii - $545
  13. Idaho - $362
  14. Illinois - $385
  15. Indiana - $390
  16. Iowa - $443
  17. Kansas - $423
  18. Kentucky - $415
  19. Louisiana - $284
  20. Maine - $496
  21. Maryland - $380
  22. Massachusetts - $628
  23. Michigan - $365
  24. Minnesota - $566
  25. Mississippi - $230
  26. Missouri - $320
  27. Montana - $407
  28. Nebraska - $308
  29. Nevada - $362
  30. New Hampshire - $427
  31. New Jersey $584
  32. New Mexico - $455
  33. New York - $405
  34. North Carolina - $494
  35. North Dakota - $385
  36. Ohio - $372
  37. Oklahoma - $392
  38. Oregon - $482
  39. Pennsylvania - $539
  40. Rhode Island - $528
  41. South Carolina - $326
  42. South Dakota - $285
  43. Tennessee - $275
  44. Texas - $378
  45. Utah - $444
  46. Vermont - $409
  47. Virgina - $378
  48. Washington - $541
  49. West Virginia - $424
  50. Wisconsin - $363
  51. Wyoming - $387
The amount of money received during Tier 2 and Tier 3 payouts are the same as what is received during the first phase of unemployment. The numbers above do not include the extra $25/week that Obama approved, so your checks may actually be slightly higher, as long as the stimulus plan is still in affect.

California's UI Fund To Run Huge Deficits

To contact us Click HERE
Click on Chart for a Larger Image

How bad are things in the state of California?

Well according to an Unemployment Insurance (UI) Fund forecast issued by California's Employment Development Department (EDD), the fund which is currently about $8 billion underfunded will be over $27 billion in the red by 2011!

That's almost $1,000 for every man, woman and child in the state of California---Or almost $2,000 for every worker in the state---It will likely be many many years before CA is able to dig out of this hole.

Bank of Tokyo Mitsubishi's US Economist on the Unemployment Picture

To contact us Click HERE


On February 5th, Bloomberg interviewed Ellen Zentner, Senior US economist at Bank of Tokyo-Mitsubishi UFJ Ltd. to discuss the January unemployment rate and the outlook for the US Labor Market.

Ellen's views include:
  • "the labor market is definitely improving, we got a bigger downward revision to payroll data, leading up to today... No we lost 8.4 million jobs vs over 7 million... And this contraction in jobs correlates more to the decline in consumer spending."
  • In january's report the comments are suspicious because jobs aren't being created, yet the unemployment rate drops. Looking at labor force participation, you see that household employment has increased. But you also need to know how many people dropped out of the labor market all together.
  • We have record numbers of discouraged workers and many of them are permanently lost---but thousands will come back into the labor market.
  • The data is showing some job gains in some areas---but it isn't happening in all sectors of the economy. January saw the first increase in manufacturing jobs in over 3 years.
  • Forward looking indicators show that part-time and contract jobs should improve in the next few months---This isn't as good as landing higher paying full time jobs.
  • The labor market will wadddle along for a little bit, because you have create jobs for the previously displaced and the teenagers that are becoming working aged adults---this isn't going to happen for some time.

What's the employment situation?

To contact us Click HERE
According to the Bureau of Labor Statistics:

THE EMPLOYMENT SITUATION – SEPTEMBER 2010
Nonfarm payroll employment edged down (-95,000) in September, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment declined (-159,000), reflecting both a drop in the number of temporary jobs for Census 2010 and job losses in local government.

Household Survey Data
The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6 percent. (See table A-1.)
Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.0 percent), whites (8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed little or no change in September. The jobless rate for Asians was 6.4 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over), at 6.1 million, was little changed over the month but was down by 640,000 since a series high of 6.8 million in May. In September, 1.7 percent of unemployed persons had been jobless for 27 weeks or more. (See table A-12.) In September, both the civilian labor force participation rate, at 64.7 percent, and the employmentpopulation
ratio, at 58.5 percent, were unchanged. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary
part-time workers) rose by 612,000 over the month to 9.5 million.

Over the past 2 months, the number of such workers has increased by 943,000. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.) About 2.5 million persons were marginally attached to the labor force in September, up from 2.2 million a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 1.2 million discouraged workers in September, an increase of 503,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.3
million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

2 Ocak 2013 Çarşamba

Who is (or isn't) Counted as Unemployed?

To contact us Click HERE


This little 2 minute video does a good job in explaining how the Bureau of Labor Statistics measures who is Unemployed, who is not in labor market, who is marginally in the labor market and who is working part time for economic reasons.

Only people who are "Unemployed" are counted in the (10%) unemployment rate. The other 3 categories may or may not be included in the U-6 Broader measurement of unemployment (~17%). The video pokes fun that the government would rather have the public and media focus on the smaller number in order to keep optimism high.

What's the Maximum Weekly Unemployment Benefit?

To contact us Click HERE
If you're recently unemployed, you may be wondering what the maximum weekly amount of money that you may be getting from the government. Fortunately, MSN Money published a comparison of how much your UI benefits could be... Note: The amount you get depends on the state in which you worked, not the state that you may move to during your jobless time.

Maximum Weekly Unemployment Benefit By State
  1. Alabama - $255
  2. Alaska - $370
  3. Arizona - $240
  4. Arkansas - $409
  5. California - $450
  6. Colorado - $475
  7. Connecticut - $519
  8. Delaware - $330
  9. District of Columbia (Washington DC) - $359
  10. Florida - $275
  11. Georgia - $330
  12. Hawaii - $545
  13. Idaho - $362
  14. Illinois - $385
  15. Indiana - $390
  16. Iowa - $443
  17. Kansas - $423
  18. Kentucky - $415
  19. Louisiana - $284
  20. Maine - $496
  21. Maryland - $380
  22. Massachusetts - $628
  23. Michigan - $365
  24. Minnesota - $566
  25. Mississippi - $230
  26. Missouri - $320
  27. Montana - $407
  28. Nebraska - $308
  29. Nevada - $362
  30. New Hampshire - $427
  31. New Jersey $584
  32. New Mexico - $455
  33. New York - $405
  34. North Carolina - $494
  35. North Dakota - $385
  36. Ohio - $372
  37. Oklahoma - $392
  38. Oregon - $482
  39. Pennsylvania - $539
  40. Rhode Island - $528
  41. South Carolina - $326
  42. South Dakota - $285
  43. Tennessee - $275
  44. Texas - $378
  45. Utah - $444
  46. Vermont - $409
  47. Virgina - $378
  48. Washington - $541
  49. West Virginia - $424
  50. Wisconsin - $363
  51. Wyoming - $387
The amount of money received during Tier 2 and Tier 3 payouts are the same as what is received during the first phase of unemployment. The numbers above do not include the extra $25/week that Obama approved, so your checks may actually be slightly higher, as long as the stimulus plan is still in affect.

California's UI Fund To Run Huge Deficits

To contact us Click HERE
Click on Chart for a Larger Image

How bad are things in the state of California?

Well according to an Unemployment Insurance (UI) Fund forecast issued by California's Employment Development Department (EDD), the fund which is currently about $8 billion underfunded will be over $27 billion in the red by 2011!

That's almost $1,000 for every man, woman and child in the state of California---Or almost $2,000 for every worker in the state---It will likely be many many years before CA is able to dig out of this hole.

Bank of Tokyo Mitsubishi's US Economist on the Unemployment Picture

To contact us Click HERE


On February 5th, Bloomberg interviewed Ellen Zentner, Senior US economist at Bank of Tokyo-Mitsubishi UFJ Ltd. to discuss the January unemployment rate and the outlook for the US Labor Market.

Ellen's views include:
  • "the labor market is definitely improving, we got a bigger downward revision to payroll data, leading up to today... No we lost 8.4 million jobs vs over 7 million... And this contraction in jobs correlates more to the decline in consumer spending."
  • In january's report the comments are suspicious because jobs aren't being created, yet the unemployment rate drops. Looking at labor force participation, you see that household employment has increased. But you also need to know how many people dropped out of the labor market all together.
  • We have record numbers of discouraged workers and many of them are permanently lost---but thousands will come back into the labor market.
  • The data is showing some job gains in some areas---but it isn't happening in all sectors of the economy. January saw the first increase in manufacturing jobs in over 3 years.
  • Forward looking indicators show that part-time and contract jobs should improve in the next few months---This isn't as good as landing higher paying full time jobs.
  • The labor market will wadddle along for a little bit, because you have create jobs for the previously displaced and the teenagers that are becoming working aged adults---this isn't going to happen for some time.

What's the employment situation?

To contact us Click HERE
According to the Bureau of Labor Statistics:

THE EMPLOYMENT SITUATION – SEPTEMBER 2010
Nonfarm payroll employment edged down (-95,000) in September, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment declined (-159,000), reflecting both a drop in the number of temporary jobs for Census 2010 and job losses in local government.

Household Survey Data
The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6 percent. (See table A-1.)
Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.0 percent), whites (8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed little or no change in September. The jobless rate for Asians was 6.4 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over), at 6.1 million, was little changed over the month but was down by 640,000 since a series high of 6.8 million in May. In September, 1.7 percent of unemployed persons had been jobless for 27 weeks or more. (See table A-12.) In September, both the civilian labor force participation rate, at 64.7 percent, and the employmentpopulation
ratio, at 58.5 percent, were unchanged. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary
part-time workers) rose by 612,000 over the month to 9.5 million.

Over the past 2 months, the number of such workers has increased by 943,000. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.) About 2.5 million persons were marginally attached to the labor force in September, up from 2.2 million a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 1.2 million discouraged workers in September, an increase of 503,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.3
million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

1 Ocak 2013 Salı

Who is (or isn't) Counted as Unemployed?

To contact us Click HERE


This little 2 minute video does a good job in explaining how the Bureau of Labor Statistics measures who is Unemployed, who is not in labor market, who is marginally in the labor market and who is working part time for economic reasons.

Only people who are "Unemployed" are counted in the (10%) unemployment rate. The other 3 categories may or may not be included in the U-6 Broader measurement of unemployment (~17%). The video pokes fun that the government would rather have the public and media focus on the smaller number in order to keep optimism high.

What's the Maximum Weekly Unemployment Benefit?

To contact us Click HERE
If you're recently unemployed, you may be wondering what the maximum weekly amount of money that you may be getting from the government. Fortunately, MSN Money published a comparison of how much your UI benefits could be... Note: The amount you get depends on the state in which you worked, not the state that you may move to during your jobless time.

Maximum Weekly Unemployment Benefit By State
  1. Alabama - $255
  2. Alaska - $370
  3. Arizona - $240
  4. Arkansas - $409
  5. California - $450
  6. Colorado - $475
  7. Connecticut - $519
  8. Delaware - $330
  9. District of Columbia (Washington DC) - $359
  10. Florida - $275
  11. Georgia - $330
  12. Hawaii - $545
  13. Idaho - $362
  14. Illinois - $385
  15. Indiana - $390
  16. Iowa - $443
  17. Kansas - $423
  18. Kentucky - $415
  19. Louisiana - $284
  20. Maine - $496
  21. Maryland - $380
  22. Massachusetts - $628
  23. Michigan - $365
  24. Minnesota - $566
  25. Mississippi - $230
  26. Missouri - $320
  27. Montana - $407
  28. Nebraska - $308
  29. Nevada - $362
  30. New Hampshire - $427
  31. New Jersey $584
  32. New Mexico - $455
  33. New York - $405
  34. North Carolina - $494
  35. North Dakota - $385
  36. Ohio - $372
  37. Oklahoma - $392
  38. Oregon - $482
  39. Pennsylvania - $539
  40. Rhode Island - $528
  41. South Carolina - $326
  42. South Dakota - $285
  43. Tennessee - $275
  44. Texas - $378
  45. Utah - $444
  46. Vermont - $409
  47. Virgina - $378
  48. Washington - $541
  49. West Virginia - $424
  50. Wisconsin - $363
  51. Wyoming - $387
The amount of money received during Tier 2 and Tier 3 payouts are the same as what is received during the first phase of unemployment. The numbers above do not include the extra $25/week that Obama approved, so your checks may actually be slightly higher, as long as the stimulus plan is still in affect.

California's UI Fund To Run Huge Deficits

To contact us Click HERE
Click on Chart for a Larger Image

How bad are things in the state of California?

Well according to an Unemployment Insurance (UI) Fund forecast issued by California's Employment Development Department (EDD), the fund which is currently about $8 billion underfunded will be over $27 billion in the red by 2011!

That's almost $1,000 for every man, woman and child in the state of California---Or almost $2,000 for every worker in the state---It will likely be many many years before CA is able to dig out of this hole.

Bank of Tokyo Mitsubishi's US Economist on the Unemployment Picture

To contact us Click HERE


On February 5th, Bloomberg interviewed Ellen Zentner, Senior US economist at Bank of Tokyo-Mitsubishi UFJ Ltd. to discuss the January unemployment rate and the outlook for the US Labor Market.

Ellen's views include:
  • "the labor market is definitely improving, we got a bigger downward revision to payroll data, leading up to today... No we lost 8.4 million jobs vs over 7 million... And this contraction in jobs correlates more to the decline in consumer spending."
  • In january's report the comments are suspicious because jobs aren't being created, yet the unemployment rate drops. Looking at labor force participation, you see that household employment has increased. But you also need to know how many people dropped out of the labor market all together.
  • We have record numbers of discouraged workers and many of them are permanently lost---but thousands will come back into the labor market.
  • The data is showing some job gains in some areas---but it isn't happening in all sectors of the economy. January saw the first increase in manufacturing jobs in over 3 years.
  • Forward looking indicators show that part-time and contract jobs should improve in the next few months---This isn't as good as landing higher paying full time jobs.
  • The labor market will wadddle along for a little bit, because you have create jobs for the previously displaced and the teenagers that are becoming working aged adults---this isn't going to happen for some time.

What's the employment situation?

To contact us Click HERE
According to the Bureau of Labor Statistics:

THE EMPLOYMENT SITUATION – SEPTEMBER 2010
Nonfarm payroll employment edged down (-95,000) in September, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment declined (-159,000), reflecting both a drop in the number of temporary jobs for Census 2010 and job losses in local government.

Household Survey Data
The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6 percent. (See table A-1.)
Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.0 percent), whites (8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed little or no change in September. The jobless rate for Asians was 6.4 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over), at 6.1 million, was little changed over the month but was down by 640,000 since a series high of 6.8 million in May. In September, 1.7 percent of unemployed persons had been jobless for 27 weeks or more. (See table A-12.) In September, both the civilian labor force participation rate, at 64.7 percent, and the employmentpopulation
ratio, at 58.5 percent, were unchanged. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary
part-time workers) rose by 612,000 over the month to 9.5 million.

Over the past 2 months, the number of such workers has increased by 943,000. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.) About 2.5 million persons were marginally attached to the labor force in September, up from 2.2 million a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 1.2 million discouraged workers in September, an increase of 503,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.3
million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.