For today's unemployed and underemployed populations, knowing exactly how the nation's economy is performing can help make sense of the changes in the unemployment rate.
Below, we've compiled month-by-month information about the fluctuations in the national unemployment rate. These changes shed light on the variables contributing to how the national job market improves and changes over time.
We see the largest gain in payrolls of the year at 271,000. The jobless rate has also fallen to a seven-year low of 5 percent (from 5.1 percent in September) and average hourly earnings over this past year climbed by the most since 2009. Investors have raised to about 70 percent the probability of a rate increase from the earlier 56 percent. The assumption is that the funds rate averages 0.375 percent after liftoff. The Report has also shown lower labor-market slack. The number of Americans working part-time because of the weak economy is down to 5.7 million for the month of October, Which is the lowest since June of 2008
The October Jobs Report Gives Fed Officials a Green Light to Raise Rates (Bloomberg.com)
In the month of September, the unemployment rate stays at a 5.1 percent and the nonfarm payroll increased by 142,000. So far in 2015, job growth has been averaging 198,000 per month. There were job gains in healthcare, and mining employment fell. The number of persons unemployed for less than 5 weeks increased by 268,000 to 2.4 million this month which slightly offset a decline in August. In September average hourly earnings for private nonfarm payrolls, changed little, at $25.09(-1 cent), following a 9-cent gain in August. The civilian labor force participation rate declined to 62.4(from 62.6 percent for 3 prior months) In the month of September.
The Employment Situation – September 2015 (BLS.GOV)
In September, The total labor force fell to a year low, losing another 350,000 people. The household survey was even worse, showing a decrease of 236,000 in employment. The number reporting that they were unemployed declined as well, by 114,000. The average work week fell a fraction to 34.5 hours. Health care had the most in job creation, at 34,000 new positions. Retail grew by 24,000 and restaurants and bars contributed 21,000. Food and Bar businesses have added almost 350,000 jobs in the past year. Part-time positions increased by 53,000 (1.8 percent) and Full time jobs declined 185,000.
Job creation misses big in September 2015 (cnbc.com)
In August, Total nonfarm payroll employment increased by 173,000, and unemployment rates went down slightly to 5.1 percent. Job gains were in social assistance, health care, and financial activities. Manufacturing and mining has job loss. 1.8 million Persons were marginally attached to the labor force, which is down by 329,000 from the prior year. Among these people, there were 624,000 discouraged workers, Which is down by 151,000 from the prior year. The average workweek for employees on private nonfarm payrolls, slightly increased by 0.1 hour to 34.6 hours. Payrolls rose by 8 cents to $25.09, following the 6-cent gain in July.
The Employment Situation - August 2015 (BLS.GOV)
Employment increased by 215,000 in July. The unemployment has remained at 5.3 percent. Job gains occurred in retail, health care, professional and technical services, and financial activities. In July the unemployment rate (5.3 percent) and the number unemployed (8.3 million) were unchanged. Among the unemployed, the number of new entrants decreased by 107,000. The civilian labor force participation rate was unchanged at 62.6 percent. The employment-population ratio (59.3 percent) was also unchanged. In July, 1.9 million persons were marginally attached to the labor force, which is down by 251,000 from this prior year.
The Employment Situation - July 2015 (BLS.GOV)
The unemployment rate has declined by 0.2 Percent to 5.3 percent in June, and the number of people unemployed has declined as well by 375,000 to 8.3 million. The total nonfarm payroll employment has increased however, by 223,000. The Civilian labor force declined by 432,000 in June. The employment to population ratio was still unchanged, Sitting at 59.3 percent. Job gains occurred in professional and business services, retail trade, health care, financial activities, and warehousing.
The Employment Situation - June 2015 (BLS.GOV)
Average hourly earnings did not change a bit in June despite the drop in the unemployment rate. The unemployment rate went from 5.5 percent to 5.3 percent in this past months span. Over the last 12 months, wages are up by 2 percent, only a little ahead of inflation, which is around 1.5 percent, according to the last data reports. On the bright side, The Labor Department’s broadest possible measure of unemployment fell 0.3 percentage point to 10.5 percent.
U.S Economy Adds 223,000 Jobs; Unemployment at 5.3% (nytimes.com)
The total nonfarm payroll employment has increased by 280,000 in May. Unemployment rate is at 5.5 percent and unemployed persons at 8.7 million, both unchanged. The number of persons unemployed for less than 5 weeks decreased to 311,000 to 2.4 million, following the increase in April. Employment in mining has continued to decline. Job gains were in hospitality, leisure, healthcare, and professional and business services. The civilian labor force rose by 397,000, and the labor force participation rate was changed very little at 62.9 percent. In May, 1.9 million persons were marginally attached to the labor force, which is down by 268,000 from the prior year.
The Employment Situation - May 2015 (BLS.GOV)
The number of long-term unemployed (jobless 27 weeks or more) changed little sitting at 2.5 million, accounting for 29.0 percent of the unemployed. Over the past 12 months, the number of person’s long-term unemployed has decreased by 888,000. Total nonfarm payroll employment has increased by 223,000 in the month of April. The unemployment rate (5.4 percent) and the number of unemployed persons (8.5 million) were unchanged. Over the past three months, job gains have averaged 35,000 a month. In April, average hourly earnings for all employees on private nonfarm payrolls rose by 3 cents to $24.87.
The Employment Situation - April 2015 (BLS.GOV)
The total nonfarm payroll employment has increased by 126,000 in the month of March. The unemployment rate (5.5 percent) has not changed. Among the unemployed, the number of new entrants decreased by 157,000 and is down 342,000 over the year. The average workweek for all employees on private nonfarm payrolls has declined by 0.1 hour to 34.5 hours. However, the average hourly earnings for all employees on private nonfarm payrolls have risen by 7 cents to $24.86. In March, Employment gains were found in health care, professional and business services, and retail trend.
The Employment Situation - March 2015 (BLS.GOV)
Both the unemployment rate (5.5 percent) and the number of unemployed persons (8.7 million) have edged down in February. Total nonfarm payroll employment has increased by 295,000 in the month of February. 2.2 million Persons were marginally attached to the labor fore, which is little changed from the prior year. Among the marginally attached, there were 732,000 discouraged workers in February, which is also little changed from the prior year. Job gains occurred in professional and business services, food and drinking places, construction, healthcare, transportation and warehousing. Over the past 3 months, job gains have averaged 288,000 per month.
The Employment Situation - February 2015 (BLS.GOV)
The total nonfarm payroll employment rose by 257,000 in January. The unemployment rate(5.7 percent) changed very little in January and has shown no net change since October of 2014. The number of long-term unemployed (those jobless for more than 27 weeks) was unchanged at 2.8 million. These individuals account for 31.5 percent of all of the unemployed. Over the past year, the number of long-term unemployed is down by 828,000. In January, 2.2 million persons were marginally attached to the labor force, which is down by 358,000 from the prior year.
The Employment Situation - January 2015 (BLS.GOV)
The average hourly earnings for private-sector workers increased by 12 cents, 24.75, after decreasing by 5 cents, to $24.57, in December. The January jobs report marked the longest stretch of job gains above the 200,000 level since 1994. The labor-force participation rate edged up by 0.2 percentage point, to 62.9 percent.
Unemployment Rate Ticks Up To 5.7% (ibtimes.com)
A slight increase in unemployment to 6.7% (from 6.6% in January 2014) did not sway economists' appreciation of the 175,000 jobs that were added to the American economy in February 2014. Original expectations were around 130,000 and were based on the chilling weather conditions that nearly crippled the nation during February 2014. However, the impressive results for the February 2014 jobs report has boosted expectations for March 2014.
The Employment Situation - February 2014 (BLS.GOV)
Though unemployment is down to 6.6%, the jobs report for January 2014 fell short of expectations as only a mere 113,000 jobs were added to the U.S. economy. Employment gains, in terms of jobs, were expected to be around 185,000; however, the "weak" and "disappointing" report shows unimpressive growth in the economy, according to economists and investing professionals.
'Stormy' January Jobs Report Tour to Figure (MARKET WATCH)
Expectations for December 2013's job growth fell short when the unemployment rate dropped to only 6.7% at the close of the year. Even more disappointing is during this month only 74,000 jobs were added - the smallest increase since January 2011 and more than 100k jobs less than projected by Wall Street.
US Jobs Report December 2013: Unemployment Rate Drops to 6.7% (INTERNATIONAL BUSINESS TIMES)
With approximately 203,000 jobs added in November 2013, economists believe this could be positive news for American looking for work. With the unemployment rate at 7%, the lowest it has been since November 2008, the job market is showing steady growth improvement thanks to broad hiring and a continued interest from employers to continue hiring.
Unemployment Falls to 7% (CNN MONEY)
From 7.2% in September to a 7.3% unemployment rate in October 2013, The Labor Dept. asserts that the rise in the unemployment is in part due to furloughed federal workers - a result of the 16-day government shutdown. Despite 204,000 being added to the economy, the job market showed signs of losing steam even prior to the government shutdown (October 1 - October 17, 2013). Unemployment rates were said to drop in 28 states and rise or remained unchanged in the other 22.
October Jobs Report: U.S. Creates 204,000 Jobs, Unemployment Rate Rises to 7.3% (HUFFINGTON POST)
148,000 jobs added in September and unemployment rate falls slightly to 7.2%. Hiring in September 2013 was slow, but more workers were able join the workforce. Jobs added matches January 2013 and was slightly lower than the 193,000 jobs added in August 2013.
Unemployment Rate Little Change at 7.2% in September 2013 (BLS.GOV)
National unemployment rate fell to 7.3%, down from 7.4%. With 169,000 jobs added, August job growth came back as a disappointment to economists; however, this rate is the lowest since the close of 2008.
Jobless Rates Hold Steady or Fall in 32 States (USA TODAY)
A rise in unemployment rates in 28 states illustrates little progress for job market. Only 162,000 jobs were added to the economy, assisting with a slight drop from the 7.6% unemployment rate seen in June 2013.
Unemployment Rates Up in Most States in July
The job report for June 2013 shows the job market grew faster than previously projected. More workers entered into the job market during June and workers show signs of confidence in the state of the nation's labor market.
U.S. adds solid 195,000 jobs in June; unemployment rate holds at 7.6% (LOS ANGELES TIMES)
Despite the improving economy, the nation remains under the longest period of high unemployment since the Great Depression. Economists predict the unemployment rate will remain above 7.5% as it has been for the last 4.5 years.
Joblessness Still Hangs Over Improving Economy (YAHOO)
Continued improvements reported in the national labor market. But, improvements reflect a slower improvement than May 2013 and failed to breach the 7 percent unemployment rate threshold. Unemployment rate for June 2013 is 7.5%.
US June Jobs Report 2013 (INT'L BUSINESS TIMES)
Job growth for May 2013 is far stronger than it was a year prior. Unemployment rate stands at a firm 7.6% despite the long-term unemployment rate of over 4 million unemployed workers in the United States.
Unemployment at 7.6 Percent for May 2013 (BLS.gov)
Approximately 92% of large metro cities across the U.S. experienced a decline in unemployment. National economy in April stays consistent with adding 200,000 more jobs to the labor market.
Unemployment Rates Fall in 92% of U.S. Cities in April (FOX NEWS)
Despite a small drop in unemployment rate from 7.7% to 7.6%, only 88,000 jobs were pumped into the economy in March 2013. The Labor Department attributes slow-to-no growth to recent tax increases and spending cuts.
U.S. Economy Adds Just 88,000 Jobs in March (TIME.COM)
Better-than-expected jobs report for February 2013 shows that 236,000 jobs were added to the economy, resulting in a drop from 7.9% to 7.7 in the national unemployment rate. The improving job market makes room for budget talks.
How February's 7.7% Unemployment Rate Changes Budget Talks
Unemployment rate for January 2013 is 7.9%, a level that has remained steady since September 2012.
Unemployment Rate 7.9% in January (BLS.GOV)
Improved economic conditions allowed for 243,000 jobs to be added to the economy in January 2012 - approximately 100,000 jbs more than economists forecasted. In result, the unemployment rate fell to 8.3%, down from 8.5%.
January Jobs Report: Hiring Ramps Up, Unemployment Falls (CNN MONEY)
The economy's overall health seemed to have taken a turn for the worse with only 36,000 jobs being added in January 2011. Economists predicted at least 145,000 would be added. Despite disappointing figures, the unemployment rate did fall from 9.4% from the month prior to 9% for January 2011.
January's Jobs Report: What It Means for You (DAILY FINANCE)
Dropping to 9.7% unemployment (down from December's 10%), the jobs report for January 2010 seems to reflect incremental signs of growth. However, a loss of 13,000 jobs has some worried that the economy won't recover as quickly as economists had hoped.
On the Employment Situation in January (WHITE HOUSE BLOG)
A soaring unemployment rate of 7.6% is reported after approximately 598,000 jobs were cut from the economy in January 2009. This unemployment rate is the highest in years and marks the worst job loss since December 1974. Economists originally predicted a 7.5% unemployment rate for January 2009.
January Employment Report: 598,000 Jobs Lost, Unemployment Rate 7.6% (CALCULATED RISK BLOG)
At 4.9% unemployment, concerns for the weakening economy grew as 17,000 jobs were lost during the month of January 2008. Economists had originally forecasted an add of 70,000 jobs considering the 82,000 jobs that were added the month prior.
