Weak Demand for Companies’ Core Products and Services Contributes to Slow Jobs Growth
Tag Archives: BLS
According to the U.S. Bureau of Labor Statistics, unemployment rates were higher in November than a year earlier in all 372 metropolitan areas. Seventeen areas recorded jobless rates of at least 15.0 percent, while 13 areas registered rates below 5.0 percent. The national unemployment rate in November was 9.4 percent, not seasonally adjusted, up from 6.5 percent a year earlier.
Closer to home, Iowa’s unemployment reached 6.4 percent in November, up from 6.1 percent in October and 4.1 percent in November, 2008. In the Des Moines-West Des Moines MSA, roughly 19,800 or 6.2 percent of the workforce was out of work.
Below is the A12 chart from the Bureau of Labor Statistics. This chart gives the full unemployment picture of what is going on in the United States. These numbers cover a lot of varying categories and are often referred to but not always shown in full.
Unfortunately at this point it is still not a pretty picture, I do not expect to see any decrease in these numbers until the first half of 2010. That said, I.T. and Manufacturing are two burgeoning sectors of growth albeit they are not wide spread across every state. We are beginning to build toward hiring trends that will go beyond state borders, once that begins there will definitely be more companies willing to put both feet in and start hiring again.
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Below is the A12 chart from the BLS (Bureau of Labor Statistics) for July 2009. The A12 is the most complete picture of what is going in the work force to date. It is often referred to but rarely shown in its entirety. While they do not break it down by individual state this way, the trends per state typically are represented very well by the overall picture.
As you will notice when looking at the chart, you will need to click on it to read it – unless you have some freaky super eyesight thing going on.
Click on picture to enlarge.
This does not include public sector jobs. The jobs report on Friday should be interesting: U.S. private employers chopped more than half a million jobs in May, signaling job conditions remain tough and dashing some hopes the economy was not deteriorating as rapidly as thought, a report on Wednesday showed. U.S. companies axed 532,000 jobs last month, though this was fewer than the revised 545,000 jobs lost in April, according to the ADP National Employment Report.
Click on picture to enlarge.
Iowa is faring very well amongst the other states in the U.S. having more than one city in the lowest unemployment numbers. In March, 109 metropolitan areas reported jobless rates of at least 10.0 percent, up from 14 areas a year earlier, while 95 areas posted rates below 7.0 percent, down from 329 areas in March 2008. El Centro, Calif., recorded the highest unemployment rate, 25.1 percent. The areas with the next highest rates were Merced, Calif., 20.4 percent; Yuba City, Calif., 19.5 percent; and Elkhart-Goshen, Ind., 18.8 percent. Among the 18 areas with jobless rates of at least 15.0 percent, 12 were located in California. Houma-Bayou Cane-Thibodaux, La., and Iowa City, Iowa, registered the lowest jobless rates, 3.6 percent each in March, followed closely by Ames, Iowa, at 3.7 percent.
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