1,148,000 Fewer Americans Have Jobs Today Than 7 Yrs Ago

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1,148,000 Fewer Americans Have Jobs Today Than 7 Yrs Ago

Post  fshnski on Sat Dec 07, 2013 11:28 am

(CNSNews.com) - 1,148,000 fewer Americans held jobs this November than did seven years ago in November 2006, according to data released today by the Bureau of Labor Statistics.

Back then, according to BLS, 145,534,000 Americans held jobs. This November, according to BLS, only 144,386,000 Americans hold jobs. That is a drop of 1,148,000 in the number of Americans working.

This decline in the number of Americans who actually have jobs has come even though the size of the nation’s civilian noninstitutional population and the size of the nation’s civilian labor force have both grown significantly over the last seven years.

The civilian noninstitutional population is made up of all people 16 or older who are living in the United States and are not in the military or a prison, mental facility or nursing home. The civilian labor force consists of all people in the civilian noninstitutional population who either have a job or who actively sought a job in the past four weeks.

In November 2006, the civilian noninstitutional population was 229,905,000. In November of this year, it was 246,567,000—an increase of 16,662,000 over seven years. In November 2006, the civilian labor force was 152,406,000. This November, it was 155,294,000—an increase of 2,888,000 in seven years.

Thus, while the civilian noninstitutional population has increased by 16,662,000, the labor force has increased by only 2,888,000--and the number of people actually holding jobs has actually decreased by 1,148,000.

This is reflected in the higher unemployment rate the United States is experiencing today. In November 2006, the national unemployment rate was 4.5 percent. This November, it was 7.0 percent.

The unemployment rate would be even higher except that a smaller percentage of the civilian noninstitutional population is participating in the labor force today than was the case seven years ago. In November 2006, the labor force participation rate was 66.3 percent. By this November, it had declined to 63.0 percent.

That means that in November 2006, 33.7 percent of the civilian noninstitutional population of the United States did not have a job and was not looking for on. This November, 37 percent of the civilian noninstitutional population of the United States did not have a job and was not looking for one.




- See more at: http://cnsnews.com/news/article/ali-meyer/1148000-fewer-americans-have-jobs-today-7-yrs-ago#sthash.x8LCUmbF.dpuf

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