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Posted by: thepinetree on 05/07/2021 09:25 AM Updated by: thepinetree on 05/07/2021 09:25 AM
Expires: 01/01/2026 12:00 AM
:

April Employment Rises by 266,000. Labor Participation Rate Climbs to 61.7%

Washington, DC...The latest from the Bureau of Labor Statistics...Total nonfarm payroll employment rose by 266,000 in April, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains in leisure and hospitality, other services, and local government education were partially offset by employment declines in temporary help services and in couriers and messengers.





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.

Household Survey Data

Both the unemployment rate, at 6.1 percent, and the number of unemployed persons, at 9.8
million, were little changed in April. These measures are down considerably from their
recent highs in April 2020 but remain well above their levels prior to the coronavirus
(COVID-19) pandemic (3.5 percent and 5.7 million, respectively, in February 2020). (See
table A-1. See the box note at the end of this news release for more information about
how the household survey and its measures were affected by the coronavirus pandemic.)

Among the major worker groups, the unemployment rates for adult men (6.1 percent), adult
women (5.6 percent), teenagers (12.3 percent), Whites (5.3 percent), Blacks (9.7 percent),
Asians (5.7 percent), and Hispanics (7.9 percent) showed little or no change in April.
(See tables A-1, A-2, and A-3.)

Among the unemployed, the number of persons on temporary layoff, at 2.1 million, changed
little in April. This measure is down considerably from the recent high of 18.0 million
in April 2020 but is 1.4 million higher than in February 2020. The number of permanent
job losers, at 3.5 million, was also little changed over the month but is 2.2 million
higher than in February 2020. (See table A-11.)

In April, the number of persons jobless less than 5 weeks increased by 237,000 to 2.4
million, while the number of persons jobless 15 to 26 weeks declined by 188,000 to 1.2
million. The number of long-term unemployed (those jobless for 27 weeks or more), at
4.2 million, was essentially unchanged in April but is 3.1 million higher than in
February 2020. These long-term unemployed accounted for 43.0 percent of the total
unemployed in April. (See table A-12.)

The labor force participation rate was little changed at 61.7 percent in April and is
1.6 percentage points lower than in February 2020. The employment-population ratio was
also little changed in April at 57.9 percent but is up by 0.5 percentage point since
December 2020. However, this measure is 3.2 percentage points below its February 2020
level. (See table A-1.)

The number of persons employed part time for economic reasons decreased by 583,000 to
5.2 million in April. This decline reflected a drop in the number of people whose
hours were cut due to slack work or business conditions. The number of persons employed
part time for economic reasons is 845,000 higher than in February 2020. 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-8.)

In April, the number of persons not in the labor force who currently want a job was 6.6
million, little changed over the month but up by 1.6 million since February 2020. These
individuals were not counted as unemployed because they were not actively looking for
work during the last 4 weeks or were unavailable to take a job. (See table A-1.)

Among those not in the labor force who currently want a job, the number of persons
marginally attached to the labor force, at 1.9 million, was essentially unchanged in
April but is up by 419,000 since February 2020. 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,
was little changed at 565,000 in April but is 164,000 higher than in February 2020.
(See Summary table A.)

Household Survey Supplemental Data

In April, 18.3 percent of employed persons teleworked because of the coronavirus
pandemic, down from 21.0 percent in the prior month. These data refer to employed persons
who teleworked or worked at home for pay at some point in the last 4 weeks specifically
because of the pandemic.

In April, 9.4 million persons reported that they had been unable to work because their
employer closed or lost business due to the pandemic--that is, they did not work at all
or worked fewer hours at some point in the last 4 weeks due to the pandemic. This measure
is down from 11.4 million in the previous month. Among those who reported in April that
they were unable to work because of pandemic-related closures or lost business, 9.3 percent
received at least some pay from their employer for the hours not worked, little changed
from the previous month.

Among those not in the labor force in April, 2.8 million persons were prevented from
looking for work due to the pandemic. This measure is down from 3.7 million the month
before. (To be counted as unemployed, by definition, individuals must be either actively
looking for work or on temporary layoff.)

These supplemental data come from questions added to the household survey beginning in May
2020 to help gauge the effects of the pandemic on the labor market. The data are not
seasonally adjusted. Tables with estimates from the supplemental questions for all months
are available online at www.bls.gov/cps/effects-of-the-coronavirus-covid-19-pandemic.htm.

Establishment Survey Data

Total nonfarm payroll employment increased by 266,000 in April, following increases of
770,000 in March and 536,000 in February. In April, nonfarm employment is down by 8.2
million, or 5.4 percent, from its pre-pandemic level in February 2020. In April, notable
job gains in leisure and hospitality, other services, and local government education were
partially offset by losses in temporary help services and in couriers and messengers.
(See table B-1. See the box note at the end of this news release for more information about
how the establishment survey and its measures were affected by the coronavirus pandemic.)

In April, employment in leisure and hospitality increased by 331,000, as pandemic-related
restrictions continued to ease in many parts of the country. More than half of the increase
was in food services and drinking places (+187,000). Job gains also occurred in amusements,
gambling, and recreation (+73,000) and in accommodation (+54,000). Although leisure and
hospitality has added 5.4 million jobs over the year, employment in the industry is down
by 2.8 million, or 16.8 percent, since February 2020.

In April, employment increased by 44,000 in the other services industry, with gains in
repair and maintenance (+14,000) and personal and laundry services (+14,000). Employment
in other services is 352,000 below its February 2020 level.

Employment in local government education increased by 31,000 in April but is 611,000 lower
than in February 2020. Federal government employment increased by 9,000 over the month.

In April, employment in social assistance rose by 23,000, with about half of the increase
in child day care services (+12,000). Employment in social assistance is 286,000 lower
than in February 2020.

Employment in financial activities rose by 19,000 over the month, with most of the gain
occurring in real estate and rental and leasing (+17,000). Employment in financial
activities is down by 63,000 since February 2020.

Within professional and business services, employment in temporary help services declined
by 111,000 in April and is 296,000 lower than in February 2020. Business support services
lost jobs in April (-15,000), while architectural and engineering services and scientific
research and development services added jobs (+12,000 and +7,000, respectively).

Within transportation and warehousing, employment in couriers and messengers fell by
77,000 in April but is up by 126,000 since February 2020. Air transportation added 7,000
jobs over the month.

Manufacturing employment edged down in April (-18,000), following gains in the previous 2
months (+54,000 in March and +35,000 in February). In April, job losses in motor vehicles
and parts (-27,000) and in wood products (-7,000) more than offset job gains in
miscellaneous durable goods manufacturing (+13,000) and chemicals (+4,000). Employment in
manufacturing is 515,000 lower than in February 2020.

Retail trade employment changed little in April (-15,000), following a gain in the prior
month (+33,000). In April, employment declined in food and beverage stores (-49,000),
general merchandise stores (-10,000), and gasoline stations (-9,000). These losses were
partially offset by employment increases in sporting goods, hobby, book, and music stores
(+20,000); clothing and clothing accessories stores (+10,000); and health and personal
care stores (+9,000). Employment in retail trade overall is 400,000 lower than in February
2020.

Employment in health care changed little in April (-4,000), as a job gain in ambulatory
health care services (+21,000) was largely offset by a job loss in nursing care facilities
(-19,000). Health care employment is down by 542,000 since February 2020.

Employment in construction was unchanged over the month. Employment in the industry is up
by 917,000 over the year but is 196,000 below its February 2020 level.

In April, employment changed little in other major industries, including mining,
wholesale trade, and information.

In April, average hourly earnings for all employees on private nonfarm payrolls
increased by 21 cents to $30.17, following a decline of 4 cents in the prior month. In
April, average hourly earnings for private-sector production and nonsupervisory employees
rose by 20 cents to $25.45. The data for April suggest that the rising demand for labor
associated with the recovery from the pandemic may have put upward pressure on wages.
Since average hourly earnings vary widely across industries, the large employment
fluctuations since February 2020 complicate the analysis of recent trends in average
hourly earnings. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour
to 35.0 hours in April. In manufacturing, the workweek and overtime were both unchanged
over the month, at 40.5 hours and 3.2 hours, respectively. The average workweek for
production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.4
hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for February was revised up by 68,000, from
+468,000 to +536,000, and the change for March was revised down by 146,000, from +916,000
to +770,000. With these revisions, employment in February and March combined is 78,000
lower than previously reported. (Monthly revisions result from additional reports received
from businesses and government agencies since the last published estimates and from the
recalculation of seasonal factors.)

_____________
The Employment Situation for May is scheduled to be released on Friday, June 4, 2021, at
8:30 a.m. (ET).

_______________________________________________________________________________________
| |
| Coronavirus (COVID-19) Impact on April 2021 |
| Household and Establishment Survey Data |
| |
| Data collection for both surveys was affected by the pandemic. In the establishment |
| survey, more data continued to be collected by web than in months prior to the |
| pandemic. In the household survey, for the safety of both interviewers and |
| respondents, in-person interviews were conducted only when telephone interviews could |
| not be done. |
| |
| As in previous months, some workers affected by the pandemic who should have been |
| classified as unemployed on temporary layoff were instead misclassified as employed |
| but not at work. However, the share of responses that may have been misclassified was |
| highest in the early months of the pandemic and has been considerably lower in recent |
| months. Since March 2020, BLS has published an estimate of what the unemployment rate |
| might have been had misclassified workers been included among the unemployed. |
| Repeating this same approach, the seasonally adjusted unemployment rate in April 2021 |
| would have been 0.3 percentage point higher than reported. However, this represents |
| the upper bound of our estimate of misclassification and probably overstates the size |
| of the misclassification error. |
| |
| More information about the impact of the pandemic on the two surveys is available at |
| www.bls.gov/covid19/employment-situation-covid19-faq-april-2021.htm. |
|_______________________________________________________________________________________|
 



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Biden Laughs As DISASTER April Jobs Report Comes Out
Posted on: 2021-05-07 12:33:54   By: Anonymous
 
Joe Biden unbelievably broke out into laughter after he announced an abysmal jobs report Friday.

Discussing the latest Bureau of Labor and Statistics report showing a total of 266,000 jobs were created last month, Biden unexpectedly began laughing at analysts who described it as disappointing.

“This morning we learned that our economy created 266,000 jobs,” Biden said.

“And listening to commentators today as I was getting dressed,” he says laughing, “you might think that we should be disappointed.”

On Friday, CNBC pundits had to “double check” the data as they called 266K jobs created in April a “big disappointment.”

Another CNBC commentator called the report “the worst miss…since ’98.”

The report comes as many businesses are struggling to find workers, as federal unemployment benefits have granted a $300-per-week stipend to the jobless.

The US Chamber of Commerce also described the report as “disappointing,” calling for an end to the free money program.

“The disappointing jobs report makes it clear that paying people not to work is dampening what should be a stronger jobs market,” the Chamber said in a statement.

“One step policymakers should take now is ending the $300 weekly supplemental unemployment benefit,” the group stated. “Based on the Chamber’s analysis, the $300 benefit results in approximately one in four recipients taking home more in unemployment than they earned working.”

[Reply ]

    Re: Biden Laughs As DISASTER April Jobs Report Comes Out
    Posted on: 2021-05-07 22:01:47   By: Anonymous
     
    Funny, companies that pay well aren’t having trouble finding employees....

    [Reply ]

Montana Cancels Unemployment Benefits in Response to Unprecedented Worker Shortage
Posted on: 2021-05-07 12:36:14   By: Anonymous
 
Three weeks ago, when looking at the unprecedented labor shortage that is crippling the US economy (even with some 100 million Americans not in the labor force)…

…we said that there is a simple reason for this paradoxical phenomenon: trillions in Biden stimulus are now incentivizing potential workers not to seek gainful employment, but to sit back and collect the next stimmy check for doing absolutely nothing in what is becoming the world’s greatest “under the radar” experiment in Universal Basic Income.

Consider the following striking anecdotes from Bloomberg:

Early in the Covid-19 pandemic, Melissa Anderson laid off all three full-time employees of her jewelry-making company, Silver Chest Creations in Burkesville, Ky. She tried to rehire one of them in September and another in January as business recovered, but they refused to come back, she says. “They’re not looking for work.”
Sierra Pacific Industries, which manufactures doors, windows, and millwork, is so desperate to fill openings that it’s offering hiring bonuses of up to $1,500 at its factories in California, Washington, and Wisconsin. In rural Northern California, the Red Bluff Job Training Center is trying to lure young people with extra-large pizzas in the hope that some who stop by can be persuaded to fill out a job application. “We’re trying to get inside their head and help them find employment. Businesses would be so eager to train them,” says Kathy Garcia, the business services and marketing manager. “There are absolutely no job seekers.”

Even more amazing: a stunning 91% of small businesses surveyed by the NFIB said they had few or no qualified applicants for job openings in the past three months, tied for the third highest since that question was added to the NFIB survey in 1993.

But what is most striking is the context on these figures: recall that just one year ago, the unemployment rate was a depression-era 14.8%. And while it has since dropped to 6%, it remains well above the 3.5% rate of February 2020, before the pandemic. So judging from the jobless rate – which the Federal Reserve tracks closely – there’s still plenty of slack in the labor market.

Only… if one goes by the complete lack of workers, there isn’t.

This was confirmed by the results of the latest, April, NFIB Small Business survey, which found that a record 42% of companies reported job openings that could not be filled.

The key quote from NFIB Chief Economist Bill Dunkelberg was “Main Street is doing better as state and local restrictions are eased, but finding qualified labour is a critical issue for small businesses nationwide.” And the explicit admission that BIden’s “trillions” in stimulus are behind this predicament:

“Small business owners are competing with the pandemic and increased unemployment benefits that are keeping some workers out of the labor force.”

As if it wasn’t clear, the NFIB added that “finding eligible workers to fill open positions will become increasingly difficult for small business owners.”

Seven percent of owners cited labor costs as their top business problem and 24% said that labor quality was their top business problem. Finding eligible workers to fill open positions will become increasingly difficult for small business owners.

Illinois-based Portillo’s Hot Dogs LLC boosted hourly wages in markets including Arizona, Michigan and Florida, and is offering $250 hiring bonuses. The chain has hired social-media influencers and built a van called the “beef bus” to help recruit. Still, many of the chain’s 63 restaurants remain understaffed, said Jodi Roeske, Portillo’s vice president of talent.

“We are absolutely struggling to get people to even show up for interviews,” Ms. Roeske said.

To be sure, it’s not just entry level places that can’t find workers: full-service and high-end restaurants like Wolfgang Puck’s Spago Beverly Hills, where servers can earn $100,000 a year with tips, also are struggling to recruit workers. Puck said in an interview with the WSJ that expanded unemployment benefits and new options like personal chef gigs are contributing to staffing shortages at Spago and his other restaurants.

“I don’t think we should pay people to stay home and not work if there are jobs available,” he said.

Summarizing the data, Rabobank’s Michael Every wrote that Biden’s generous unemployment benefits are “ironically helping to push up wages, at least temporarily – which I am sure nobody intended, but underlines just how radical policy has to get in the US to make it happen.” His conclusion: ”the problem is that small businesses trying to get past Covid are least well placed to lead this socio-economic charge; and if this points to a wage-price spiral –which is still unlikely– then the bond market will soon be pointing its finger at the Fed.”

Well if it is unemployment benefits that is causing the labor shortage why not do away with said benefits?

Of course, that is far easier said than done: once Americans are used to collecting money for doing nothing, they would be extremely displeased – to put it mildly – once the money is gone. This is not lost on politicians who know that they would be the immediate target of popular ire.

And yet, one state is taking the much needed, if extremely unpopular step, of breaking this addition to stimmy handouts which has also led to this historic labor shortage.

According to Yahoo, Montana plans to stop some of its federally-funded unemployment benefits to address “the state’s severe workforce shortage,” according to its labor department, which will leave many out-of-work residents without any support at all.

“Nearly every sector in our economy faces a labor shortage,” Governor Greg Gianforte, a Republican, said in a statement on Tuesday, echoing what we said last month, namely that “The vast expansion of federal unemployment benefits is now doing more harm than good.”

Instead, the state will do the correct thing and begin offering return-to-work bonuses to help employers looking to hire.

Starting June 27, Montanans will lose access to the extra $300 in weekly unemployment benefits, but maintain their regular benefits. Contractors, gig workers, and others will also lose access to the Pandemic Unemployment Assistance (PUA) program, meaning those workers won’t get any benefits.

Those relying on the DOL’s Pandemic Emergency Unemployment Compensation (PEUC) program, which gives additional weeks of unemployment benefits to workers, will stop receiving benefits. The state also plans to reinstate the requirement that stipulates workers must be actively searching for a job to qualify for unemployment benefits.

Predictably, the decision sparked howls of outrage from those already habituated to Biden’s Universal Basic Income regime:

“Montana’s move to end these fully federally-funded UI programs, along with their COVID-19 exceptions, is cruel, ill-informed, and disproportionately harms Black and Indigenous People of Color and women,” Alexa Tapia, unemployment insurance campaign coordinator at the National Employment Law Project, told Yahoo Money, basically slamming the decision as both racist and sexist. “Ending these programs would leave 22,459 people unable to support their families and hurt thousands more.”

Alternatively, those 22,459 people can find a job.

Montana’s unemployment rate was 3.8% in March, down from its 11.9% pandemic peak in April 2020, according to data by the Labor Department.

The federally-funded unemployment programs run through September 6 nationwide. Montana’s cancellation would cost workers at least $3,000 per worker in supplement benefits if they couldn’t find work through the program expiration. Workers on PUA and PEUC would lose at least $4,500 in benefits because they no longer will be eligible for the base unemployment benefit.

Liberal economists were also outrage, claiming that Universal Basic Income is a wonderful creation (it hasn’t worked out that great in any socialist nation where it has become a staple of social welfare, but whatever), with studies from such liberal bastions as the National Bureau of Economic Research all the way to Yale University claiming that the extra $600 in benefits distributed earlier in the pandemic had limited labor supply effects and likely didn’t disincentivize work. (narrator: they disincentivize work, just see Wolfgang Puck’s quote above).

“The 100% federally-paid unemployment benefits have boosted spending and contributed to the strong economic recovery,” Andrew Stettner, an unemployment insurance expert and senior fellow at the Century Foundation, told Yahoo Money. “It’s shortsighted for the state to sacrifice that economic stimulus based on the anecdotal labor shortages concerns of a few employers, especially given the limited evidence of work disincentives from unemployment pay during the pandemic.”

What he forgot to mention is that the artificial spending created by stimulus has led to soaring prices and out of control “transitory” inflation, which will lower the standard of living for everyone, not just those on the government’s dole, but again anything that goes contrary to the liberal mantra of “bigger government is always better” is anathema and must be crushed immediately.

So far, Montana is the first and only state to fully opt out of the federal unemployment benefit programs enacted in the pandemic and currently extended by the American Rescue Plan signed into law in March. As a way to incentivize workers to return to work, the state is offering a one-time return-to-work payment of $1,200, using money from the American Rescue Plan to fund the program. Only those who complete four weeks of work would receive the payment.

“Incentives matter,” Gianforte said. “Our return-to-work bonus and the return to pre-pandemic unemployment programs will help get more Montanans back to work.”

One can only hope that more states follow Gianforte’s extremely unpopular, if extremely prudent decision, before the US is mired in 1970s style hyperinflation.

We won’t be holding our breath.

[Reply ]

No Subject
Posted on: 2021-08-03 10:51:34   By: Anonymous
 
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[Reply ]


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