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Strong Job Growth Leads to Drop in Black/Hispanic Unemployment (and Veterans)
Jobs Report: Unemployment Rate For Returning Veterans Fell 6 Percentage Points
By Adam Peck
Today’s stronger-than-expected jobs report from the Bureau of Labor Statistics also contained good news for veterans of the Iraq and Afghanistan wars. The unemployment rate for veterans of the two wars fell from 15.2 percent a year ago to 9.1 percent last month, while the national unemployment rate fell from 9.1 percent to 8.3 percent during the same period.
The report also showed a big drop for the entire veteran population, as the unemployment rate fell from 9.9 percent to 7.5 percent, lower than the national average.
<...>
The news is surely a welcome relief to the veteran community that has been hit especially hard by the weak economy. Unemployment rates for post-9/11 veterans have consistently remained above the national average, and a recent report issued by the U.S Army shows that the impact on returning soldiers has been devastating.
<...>
Today, President Obama spoke in Arlington, Virginia to unveil further efforts to place an increasing number of returning veterans in jobs. He called for an additional $6 billion in spending to place as many as 20,000 veterans in jobs, and is asking Congress to increase funding in the next budget for programs that will place veterans in local police and fire departments.
http://thinkprogress.org/security/2012/02/03/418108/jobs-report-promising-for-veterans/
By Adam Peck
Today’s stronger-than-expected jobs report from the Bureau of Labor Statistics also contained good news for veterans of the Iraq and Afghanistan wars. The unemployment rate for veterans of the two wars fell from 15.2 percent a year ago to 9.1 percent last month, while the national unemployment rate fell from 9.1 percent to 8.3 percent during the same period.
The report also showed a big drop for the entire veteran population, as the unemployment rate fell from 9.9 percent to 7.5 percent, lower than the national average.
<...>
The news is surely a welcome relief to the veteran community that has been hit especially hard by the weak economy. Unemployment rates for post-9/11 veterans have consistently remained above the national average, and a recent report issued by the U.S Army shows that the impact on returning soldiers has been devastating.
<...>
Today, President Obama spoke in Arlington, Virginia to unveil further efforts to place an increasing number of returning veterans in jobs. He called for an additional $6 billion in spending to place as many as 20,000 veterans in jobs, and is asking Congress to increase funding in the next budget for programs that will place veterans in local police and fire departments.
http://thinkprogress.org/security/2012/02/03/418108/jobs-report-promising-for-veterans/
Strong Job Growth Leads to Drop in Black/Hispanic Unemployment
Friday 3 February 2012
by: Dean Baker, The Center for Economic and Policy Research | News Analysis
Unemployment for African American men fell by 3.0 percentage points in January.
The Labor Department reported that the unemployment rate fell to 8.3 percent in January, bringing its drop over the last year to 0.8 percentage points. African Americans in particular saw an especially sharp decline in unemployment, with their overall rate falling by 2.2 percentage points to 13.6 percent, the lowest level since March of 2009. The unemployment rate for African American men over age 20 fell by 3.0 percentage points to 12.7 percent, the lowest level since November of 2008. The drop for women over age 20 was 1.3 percentage points to 12.6 percent. The unemployment rate for Hispanics dropped by 0.5 percentage points to 10.5 percent, the lowest since January of 2009. These numbers are erratic and may be partially reversed in future months.
The gains for whites were more modest, with the overall unemployment rate edging down by 0.1 percentage points to 7.4 percent. The unemployment rate for white men over age 20 fell by 0.2 percentage points to 6.9 percent, while it was unchanged for women over age 20 at 6.8 percent. The unemployment rate for all men and women over age 20 is now the same at 7.7 percent, the first time they have been equal since the recession began in December, 2007.
Other data in the household survey were more mixed. There was a small rise in the number of workers unemployed involuntarily; although, this followed sharp declines the prior two months. The percentage of unemployment due to quits edged up slightly, but remains very low and even below the levels of October and November.
<...>
Manufacturing employed increased by 50,000 in January after rising by 32,000 in December. Most of the jobs came in the fabricated metal, machinery and transportation sector. Construction also had strong growth for the second-consecutive month, adding 21,000 jobs in January after an increase of 31,000 in December. Undoubtedly this rise was partly a result of unusually good weather in the Northeast and Midwest.
http://www.truth-out.org/strong-job-growth-leads-drop-blackhispanic-unemployment/1328283836
Friday 3 February 2012
by: Dean Baker, The Center for Economic and Policy Research | News Analysis
Unemployment for African American men fell by 3.0 percentage points in January.
The Labor Department reported that the unemployment rate fell to 8.3 percent in January, bringing its drop over the last year to 0.8 percentage points. African Americans in particular saw an especially sharp decline in unemployment, with their overall rate falling by 2.2 percentage points to 13.6 percent, the lowest level since March of 2009. The unemployment rate for African American men over age 20 fell by 3.0 percentage points to 12.7 percent, the lowest level since November of 2008. The drop for women over age 20 was 1.3 percentage points to 12.6 percent. The unemployment rate for Hispanics dropped by 0.5 percentage points to 10.5 percent, the lowest since January of 2009. These numbers are erratic and may be partially reversed in future months.
The gains for whites were more modest, with the overall unemployment rate edging down by 0.1 percentage points to 7.4 percent. The unemployment rate for white men over age 20 fell by 0.2 percentage points to 6.9 percent, while it was unchanged for women over age 20 at 6.8 percent. The unemployment rate for all men and women over age 20 is now the same at 7.7 percent, the first time they have been equal since the recession began in December, 2007.
Other data in the household survey were more mixed. There was a small rise in the number of workers unemployed involuntarily; although, this followed sharp declines the prior two months. The percentage of unemployment due to quits edged up slightly, but remains very low and even below the levels of October and November.
<...>
Manufacturing employed increased by 50,000 in January after rising by 32,000 in December. Most of the jobs came in the fabricated metal, machinery and transportation sector. Construction also had strong growth for the second-consecutive month, adding 21,000 jobs in January after an increase of 31,000 in December. Undoubtedly this rise was partly a result of unusually good weather in the Northeast and Midwest.
http://www.truth-out.org/strong-job-growth-leads-drop-blackhispanic-unemployment/1328283836
And now for the Republican response:
Initial Republican response to jobs report: uh...er...
by Meteor Blades
Zeke Miller points out that on the usual first Friday of the month for the past year or so, reporters and bloggers could expect their in-boxes to get Republican head-shaking, finger-pointing responses to the latest government jobs report within minutes of its announcement at 8:30 AM ET. This morning? It was the cricket chorus while the pre-written GOP press releases were scrapped and hastily rewritten to deal with the fact that the latest report was the strongest in a very, very long time.
It must have been a tight-lipped half-hour for what blogger Brent Budowsky so aptly labels the "Hope America Fails" Republicans. Because, while there are concerns to be found when one drills down into the jobs data, the headline figures, the "optics" of the report as it were, are excellent election-year news for the Democrats and for President Obama. Not to mention the millions of Americans struggling to find work.
- more -
http://www.dailykos.com/story/2012/02/03/1061394/-Initial-Republican-response-to-jobs-report:-uher
by Meteor Blades
Zeke Miller points out that on the usual first Friday of the month for the past year or so, reporters and bloggers could expect their in-boxes to get Republican head-shaking, finger-pointing responses to the latest government jobs report within minutes of its announcement at 8:30 AM ET. This morning? It was the cricket chorus while the pre-written GOP press releases were scrapped and hastily rewritten to deal with the fact that the latest report was the strongest in a very, very long time.
It must have been a tight-lipped half-hour for what blogger Brent Budowsky so aptly labels the "Hope America Fails" Republicans. Because, while there are concerns to be found when one drills down into the jobs data, the headline figures, the "optics" of the report as it were, are excellent election-year news for the Democrats and for President Obama. Not to mention the millions of Americans struggling to find work.
- more -
http://www.dailykos.com/story/2012/02/03/1061394/-Initial-Republican-response-to-jobs-report:-uher
4 replies
= new reply since forum marked as read
= new reply since forum marked as read
confusing the hell out of Mitt: Sure the economy is getting better, but not because of President Obama's policies, which have made the economy worse.
