Unemployment Percentages are Stagnant
A San Jose Bankruptcy Attorney reflects on January Labor stats
In my San Jose bankruptcy office, I came across this information from January that shows there were 4.176 million hires in November, and 4.340 million separations, or 164 thousand net jobs lost, according to the Job Openings and Labor Turnover Report just issued by the DOL. An additional 4k jobs were obtained in November (post-revisions), according to the comparable CES report.
Although hiring is still not at a high (as Bay Area consumers may have noticed), it is apparent that openings near a series low don't exactly have the unemployed jumping for joy at the prospect of a rise in good jobs. This also implies that by February 2011, when the March 2010 benchmark revision is announced, the November net change in job gain will be revised down.
Another issue is unemployment benefits - whethere those still seeking employment have used up there stipends. The Wall Street Journal had estimated that the actual number of Americans who are still looking for work, was 17.5% of the total workforce. This number fluctuates with not much change for the better.
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