Part 1: The Unemployment Rate

Complete the following exercise Visit the Bureau of Labor Statistics Web Site, www.bls.govews.release/empsit.toc.htm - source (http://www.bls.govews.release/empsit.toc.htm). Select Employment Situation Summary.

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THE EMPLOYMENT SITUATION -- OCTOBER 2622 Total nonfarm payroll employment increased by 261,888 in October, and the unemployment rate rose to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care, professional and technical services, and manufacturing. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note. Hurricane Ian data for October. BLS will release the regional and state estimates on November 13th. For information on how unusually severe weather can affect the employment and | | | I Hurricane Ian had no discernible effect on the national employment and unemployment | | I hours estimates, see the Frequently Asked Questions section of this news release. | Household Survey Data The unemployment rate increased by 8.2 percentage point to 3.7 percent in October, and the number of unemployed persons rose by 386,888 to 5.1 million. The unemployment rate has been in a narrow range of 3.5 percent to 3.7 percent since March. (See table A-1.) Among the unemployed, the number of permanent job losers changed little at 1.2 million in October, and the number of persons on temporary layotf also changed little at 847,668. (See table A-11.) The number of long-term unemployed (those jobless For 27 weeks or more) was little changed at 1.2 million in October. The long-term unemployed accounted For 19.5 percent of all unemployed persons. (See table A-12.) The labor force participation rate, at 62.2 percent, and the employment-population ratio, at 66.6 percent, were about unchanged in October and have shown little net change since early this year. These measures are 1.2 percentage points below their values in February 2828, prior to the coronavirus (COVID-lQ) pandemic. (See table A-l.) The number of persons employed part time For economic reasons was little changed at 3.7 million in October. These individuals, who would have preferred Full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-S.) The number of persons not in the labor Force who currently want a job was little changed at 5.7 million in October and remains above its February 2828 level of 5.9 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-l.) Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force was little changed in October at 1.5 million. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, decreased by 114,966 to 371,966 in October. (See Summary table A.) Establishment Survey Data Total nonfarm payroll employment increased by 261,666 in October. Monthly job growth has averaged 467,666 thus far in 2622, compared with 562,666 per month in 2621. In October, notable job gains occurred in health care, professional and technical services, and manufacturing. (See table 8-1.) In October, employment in health care rose by 53,666, with gains in ambulatory health care services (+31,666), nursing and residential care facilities (+11,666), and hospitals (+11,666). So far in 2622, health care employment has increased by an average of 47,696 per month, compared with 9,696 per month in 2621. Professional and technical services added 43,696 jobs in October. Employment continued to trend up in management and technical consulting services (+7,666), architectural and engineering services (+7,666), and scientific research and development services (+5,666). Monthly job growth in professional and technical services has averaged 41,666 thus far in 2622, compared with 53,666 per month in 2621. Manufacturing added 32,666 jobs in October, mostly in durable goods industries (+23,666). Manufacturing employment has increased by an average of 37,966 per month thus far this year, compared with 36,666 per month in 2621. Employment in social assistance increased by 19,888 in October and is slightly below (-9,888) its pre-pandemic level in February 2828. within social assistance, employment in individual and family services continued to trend up in October (+18,888). wholesale trade added 15,888 jobs in October. Employment in wholesale trade has increased by an average of 17,888 per month thus far in 2822, compared with 13,888 per month in 2821. Employment in leisure and hospitality continued to trend up in October (+35,888), with accommodation adding 28,888 jobs. Employment in food services and drinking places changed little over the month (+6,888). Leisure and hospitality has added an average of 78,888 jobs per month thus far this year, less than half of the average gain of 196,888 jobs per month in 2821. Employment in leisure and hospitality is down by 1.1 million, or 6.5 percent, from its February 2828 level. Employment in transportation and warehousing changed little in October (+8,888). within the industry, job growth occurred in truck transportation (+13,888), couriers and messengers (+7,888), and air transportation (+4,888). These gains were partially offset by a job loss in warehousing and storage (-28,888). Monthly job growth in transportation and warehousing has averaged 25,888 thus far this year, compared with 36,888 per month in 2821. In October, financial activities employment was little changed (+3,888). within the industry, job gains in insurance carriers and related activities (+9,888) and in securities, commodity contracts, and investments (+5,888) were partially offset by a job loss in rental and leasing services (-8,888). Employment in financial activities has changed little over the past 6 months. Employment changed little over the month in other major industries, including mining, construction, retail trade, information, other services, and government. In October, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 8.4 percent, to $32.58. Over the past 12 months, average hourly earnings have increased by 4.7 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 8.3 percent, to $27.86. (See tables B-3 and 3-8.) In October, the average workweek For all employees on private nonFarm payrolls was 34.5 hours For the FiFth month in a row. In manufacturing, the average workweek For all employees was little changed at 46.4 hours, and overtime decreased by 6.1 hour to 3.1 hours. The average workweek For production and nonsupervisory employees on private nonFarm payrolls held at 34.6 hours. (See tables 8-2 and 8-7.) The change in total nonFarm payroll employment For August was revised down by 23,666, From +315,666 to +292,666, and the change For September was revised up by 52,666, From +263,666 to +315,666. with these revisions, employment gains in August and September combined were 29,666 higher than previously reported. (Monthly revisions result From additional reports received From businesses and government agencies since the last published estimates and From the recalculation 0F seasonal Factors.) The Employment Situation For November is scheduled to be released on Friday, December 2, 2622, at 3:36 a.m. (ET). U.S. BUREAU OF LABOR STATISTICS HOME SUBJECTS V DATA TOOLS V PUBLICATIONS ECONOMIC RELEASES V CLASSROOM BETA V Bureau of Labor Statistics > Economic News Release > Employment Situation Economic News Release Employment Situation Summary Transmission of material in this news release is embargoed until USDL -22-2097 8:30 a.m. (ET) Friday, November 4, 2022 Technical information: Household data: (202) 691-6378 * cpsinfo@bls . gov * www. bls . gov/cps Establishment data: (202) 691-6555 * cesinfo@bls . gov * www. bls . gov/ces Media contact: (202) 691-5902 * PressOffice@bls . govChanges to Household Survey Supplemental Data Four new supplemental questions were added to the household survey in October 2922 to examine the effects of the coronavirus (COVID-19) pandemic on the labor market. These new questions, which focus on telework, replace the original supplemental questions asked from May 2929 through September 2922. Because data from the new questions will take time to process and review, the Household Survey Supplemental Data section of the Employment Situation news release has been temporarily discontinued. Information about the new questions, including future announcements about the availability of data from these questions, will be available at www.bls.gov/cps/effects-of-the-coronavirus-covid-19-pandemic.htm. Update to the 2922 North American Industry Classification System with the release of January 2923 data on February 3, 2923, the Current Employment Statistics (CES) survey will revise the basis for industry classification from the 2917 North American Industry Classification System (NAICS) to NAICS 2922. The conversion to NAICS 2922 will result in minor revisions reflecting content and coding changes within the mining and logging, manufacturing, wholesale trade, financial activities, and other services sectors, as well as major revisions reflecting content and coding changes in the retail trade and information sectors. Many industry titles and descriptions will also be updated to better reflect official NAICS titles. Approximately 19 percent of employment will be reclassified into different industries as a result of the revision. Details of updated titles and new, discontinued, and collapsed industries resulting from the NAICS 2922 update, as well as changes due to the annual benchmarking process, will be available on January 6, 2923