Employment Situation Improves in December

 

Chart 1. Unemployment rate, seasonally adjusted, December 2008 to December 2010. Chart 2. Nonfarm payroll employment over-the-month change, seasonally adjusted, December 2008 to December 2010.
Courtesy of Bureau of Labor Statistics

The unemployment rate fell by 0.4 percentage point to 9.4 percent in December, and nonfarm payroll employment increased by 103,000. Employment rose in leisure and hospitality and in health care but was little changed in other major industries.

The number of unemployed persons decreased by 556,000 to 14.5 million in December. Unemployment rate dropped to 9.4 percent. Over the year, these measures were down from 15.2 million and 9.9 percent, respectively.

In December, the number of job losers and persons who completed temporary jobs dropped by 548,000 to 8.9 million. The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 6.4 million and accounted for 44.3 percent of the unemployed.

The civilian labor force participation rate edged down in December to 64.3 percent. Employment-population ratio was essentially unchanged at 58.3 percent.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged in December at 8.9 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. This could be a good time for you to find part timer workers or day laborers to help with landscape maintenance or installation projects.

– Courtesy of Bureau of Labor Statistics