July 02, 2004

Nostalgic Job #s

These are some figures from the May Employment Situation Summary. The 2003 data is added in from the archives. All numbers in the tables are in thousands, unless they indicate percentages.

Category

Quarterly averages

Monthly Data

Apr. - May
change

2003

2004 1/

2004

I

II

III

IV

I

Mar.

Apr.

May

Household Data

Labor force status

Civilian labor force

145,829

146,685

146,628

146,986

146,661

146,650

146,741

146,974

233

  -Employment

137,430

137,638

137,647

138,369

138,388

138,298

138,576

138,772

196

  -Unemp.

8,399

9,047

8,981

8,616

8,273

8,352

8,164

8,203

39

Not in labor force

74,280

74,090

74,885

75,290

75,695

75,900

76,016

75,993

-23

 

Unemployment Rates

All workers

5.8

6.2

6.1

5.9

5.6

5.7

5.6

5.6

0.0

Persons not in the labor force are defined in part as, "individuals wanted and were available to work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed, however, because they did not actively search for work in the 4 weeks preceding the survey." The report states that the number of discouraged workers has stayed roughly the same over the past year.

After dividing the the number of employed people by the total number of people counted (labor force + not in labor force), another row can be added to the table, representing employment as a percentage of the work eligible population. The following is me playing with the numbers, not an official table:

Category

Quarterly averages

Monthly Data

2003

2004

2004

I

II

III

IV

I

Mar.

Apr.

May

Household Data

Labor force status

% Employment overall

62.4

62.3

62.1

62.2

62.2

62.1

62.2

62.2

Here's the 1997-1998 data, aggregated from the archives, with my extra row added to represent percentage of employment overall:

Category

Quarterly averages

1997

1998

I

II

III

IV

I

II

III

IV

Household Data

Labor force status

Civilian labor force

135,934

136,157

136,379

136,813

137,524

137,351

137,656

138,285

  -Employment

128,728

129,462

129,723

130,421

131,080

131,349

131,419

132,166

  -Unemp.

7,206

6,695

6,656

6,392

6,444

6,002

6,237

6,120

Not in labor force

66,462

66,678

66,988

67,123

66,871

67,554

67,827

67,813

 

Unemployment Rates

All workers

5.3

4.9

4.9

4.7

4.7

4.4

4.5

4.4

 

% Employment overall

63.6

63.8

63.7

63.9

64.1

64.1

63.9

64.1

The overall average percentage of jobs/work eligible people for the two years, 1997 and 1998, was 63.9%. The average for the five quarters of Bush data here is 62.2%. From what I'm looking at, it isn't trending upward dramatically, but rather creeping back towards what it was in the first quarter of last year and essentially flat for months now.

The difference between the 1997-1998 average and the 2003-4 average is 1.7%. Based on the total work eligible population in the first quarter of 2004, that measly 1.7% represents around 3.78 million jobs. In terms of the May work eligible population, that's around 3.79 million jobs.

Bill, we're really, really sorry. Please come back.

Posted by natasha at July 2, 2004 09:35 AM | Economy | Technorati links |
Comments

Really nice data and presentation, natasha. And definitely a sign of the deteriorated job market. Lots of people in those numbers.

Posted by: Mary at July 3, 2004 04:55 AM