Civic Register
| 1.7.22
U.S. Added 199K Jobs in December, Well Below Economists’ Expectations
How do you feel about the state of the job market?
What’s the story?
- The Bureau of Labor Statistics (BLS) on Friday released its jobs report for December 2021, which found the U.S. economy added 199,000 jobs and the unemployment declined by 0.2 percentage points to 3.9%. The report falls well short of the Dow Jones economists’ forecast of 422,000 jobs added.
- With December’s gains, the U.S. economy has recovered about 84% of jobs lost since the onset of the COVID-19 pandemic. Roughly 3.6 million are left to be regained to reach the pre-pandemic employment level. The labor force participation rate was unchanged at 61.9% in December but remains 1.5 percentage points below its February 2020 level.
Jobs Report Sector Breakdown
- Leisure and hospitality added 53,000 jobs in December, leaving the sector 1.2 million jobs below its February 2020 level (or 7.2%). Food service and drinking places gained 43,000 jobs in December but the category is 653,000 jobs short of its February 2020 level.
- Professional and business services gained 43,000 jobs in December with gains in computer systems design and services (+10,000), architectural and engineering services (+9,000), and in scientific research and development services (+6,000). The sector is 35,000 jobs shy of its February 2020 level.
- Construction gained 22,000 jobs in December, slightly down after averaging 38,000 jobs over the prior three months. December’s gains occurred in nonresidential specialty trade contractors (+13,000) and in heavy and civil engineering construction (+10,000). The sector is 88,000 jobs below its February 2020 level.
- Manufacturing added 26,000 jobs in December, most of which were in durable goods industries. A gain of 8,000 jobs in the machinery category was due to the return of workers from a strike. The manufacturing sector overall is down 219,000 jobs compared to February 2020.
- Transportation and warehousing added 19,000 jobs in December, with gains in support activities for transportation (+7,000), air transportation (+6,000), and warehousing and storage (+5,000). The sector is up 218,000 jobs compared to February 2020, with the growth focused in couriers and messengers (+202,000) and in warehousing and storage (+181,000).
- Employment showed little or no change in major industries including retail trade, information, financial activities, healthcare, and government.
Long-Term Unemployment
- The number of Americans considered to be long-term unemployed (defined as jobless for 27 weeks or more) declined slightly to 2 million in December, down from 2.2 million in November.
- The number of long-term unemployed is 887,000 higher than in February 2020. Long-term unemployed account for 31.7% of the total unemployed in December.
Demographic Unemployment Information
- Unemployment rates declined for adult men (to 3.6% from 4.0% in November), adult women (3.6% from 4.0% in November), and teenagers (10.9% from 11.2% in November).
- Unemployment rates showed little or no change among whites (3.2% from 3.7% in November), blacks (7.1% from 6.7% in November), Hispanics (4.9% from 5.2% in November), and Asians (3.8% from 3.8% in November).
Revisions & Data Notes
- Employment in October was revised up by 102,000 from +546,000 to +648,000.
- Employment in November was revised up by 39,000 from +210,000 to +249,000.
- As it has since March 2020, the BLS published an estimate of what the unemployment rate would have been had misclassified workers been included. The misclassification hinges on a question about the main reason people were absent from their jobs, with people absent due to temporary, pandemic-related closures recorded as absent due to “other reasons” as opposed to unemployed due to temporary layoff.
- Using this approach, the December unemployment rate would have been 0.3 percentage points higher than reported. The BLS notes that this represents the upper bound of their estimate of misclassification and probably overstates the size of the misclassification error.
- According to usual practice at the BLS, data is accepted as recorded in the household survey. To maintain data integrity, no ad hoc actions are taken to reclassify survey responses.
— Eric Revell
(Photo Credit: iStock.com / FG Trade)
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I've never been sure whether or not the jobs report is any sort of measure of how we are doing. I'm neutral. People have to eat, so obviously they are headed back to work. That doesn't mean they are doing well. That doesn't mean they have decent child care. That doesn't mean they aren't in fear of their Grandpa's life.
I feel like the most hated republican party is preventing the legally elected American President from doing his job.
I'll repeat myself by saying Jarome Powell stated that the biggest hinderance to the jobs numbers improving is getting inflation under control! The Biden Administration wants to spend more money not to getting America on a positive financial footing. Could help Biden's 33% poll numbers but the Dem's think they haven't gone far enough. I would laugh if it was not so serious!
And heres the twist they don't tell you on CNN, all of those jobs are from people who were doing well at their job and were fired for not taking the death jab or sitting through racist anti white, anti America trainings.
My two representatives from IL are PATHETIC!
It is great to create more jobs, so people can provide for their family and not rely fully on the Government to Survive.
No one has taken into account all the people who have died from COVID! These deaths affect the job market! In addition, many people don't want to go back to jobs where they are not valued or paid a living wage! The corporations don't want to reduce their profit in any way, so those who have increased what they pay, have increased their prices. Also, in the past months unemployment has dropped greatly. It only makes sense that until COVID is stopped it will continue to affect the job market! The greed in America just keeps growing! People need to understand that we all need each other to prosper. There is NO JOB that isn't important! The U.S. has a horrible CASTE SYSTEM that must end! We must have equal justice and acceptance for ALL people in America!!!
We are under a complete swindle. The same people who made the virus are forcing these conditions and their FAKE cures and responses upon us. They created the job problem on purpose to carry out their radical agenda on us. Are we going to allow these aggressors to enslave us? You'll have to fight and risk everything or your descendants will be no more than cattle on this planet. Real families will no longer exist for conquered.
#bareshelvesbiden crows about creating the greatest economy ever created while inflation continually rises (I guarantee it's in double digits). I'm quite certain the real unemployment rate is in double digits too, but we'll never see that number because it would put a (currently) slow-moving train wreck on a rocket sled to $#!%sville (rhymes with hits). Any of you hoping the new year would be better, better keep dreaming. All of us warning about Venezuela don't seem so conspiratorial now. Cheers!
Sorry, but more jobs are more jobs. I am happy with more jobs, and really do not care if your predictions were wrong.
:)
I don't know but I do know that the media lies.
I feel that we've done well considering the huge walls that are in the way. People are becoming ill exponentially. If we can get omicron to stabilize there's a good chance that hiring will take off. But if HR and other hiring personnel are out ill, how can people get hired? I know there are other factors, but this stands out as the most obvious. Maybe we can shore up the CDC to get a uniform message out instead of revising to confuse.
Pass Biden's Build Back Better Plan and watch the magic happen.!
The biden touch, screws up everything.
Quoting Federal Reserve Chairman Jerome Powell testifying before the Senate Banking Committee he acknowledged " High inflation is a severe threat to the achievement of maximum employment." Everything the Biden administration is doing to spend more than the government is taking in is part of causing inflation. There is NO CONFIDENCE in the Biden Administration to right this ship!
If the "GODS OF PRIVILEGE" would get their lust for power and their greed out of their backsides and do the job they we elected to do, things would improve much faster. Big money donations to campaign funds are a good part of the problem. Big money "wants it all and wants it now" along with our politicians whom they have bought and paid for. Big businesses just don't want to spend their profits on keeping their employees alive and well taken care of. God, forbid they lose a penny. Pride in craftmanship and quality have long been lost to greed in this country and needs to come back with a big bang ASAP so get off your lazy backside and go and vote these "nay sayers" out of office. The only hold up is McConnell and his cronies in the senate. New blood is needed and not the likes of the newest of representatives. Voting is your way of getting things done. (Providing your state's voting count hasn't been bought and paid for by either political party.
Another poor month for new jobs in the US. This, along with the unemployment rate, make big news every month, but they, alone, do not give the public a meaningful view of the state of our economy. Instead, we should have a single monthly press release to the public that includes; New Job Creation. Unemployment Rate, Total Employment, Average Earnings Growth, Number of Open Jobs Available, Total Number of Welfare Recipients and Percentage of People with Income Below the Poverty Level, Doubtful that any President would like to see all of this information released to the public, because it would deter their ability to "spin" the news to make themselves look better than they are!
The economists always seem to be wrong about jobs, I don't worry about their predictions. On the other hand, because of the stupidity of Republicans in resisting common sense health measures regarding the pandemic, people in many jobs feel unsafe going back to work and/or can't go back to work because of child care or school issues. People also realize some jobs have terrible working conditions. Until we have social justice, the jobs market will continue to be in upheaval. Get rid of Republicans in order to have any hope of social justice.
We're still waiting for Biden to live up to the hype.