Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/2/2014 (9 months ago)

Catholic Online (www.catholic.org)

Statistics don't list number of Americans who have given up their job search

There's good news and bad news: In spite of the U.S. jobless rate plummeting, still more than 92 million Americans remain out of the labor force. This discouraging figure is probably due to the fact that statisticians don't figure in the number of Americans who have simply abandoned their job search.

There's no getting around the unpleasant fact that the fall in the unemployment rate was due mainly to the exodus of people who stopped looking for work.

There's no getting around the unpleasant fact that the fall in the unemployment rate was due mainly to the exodus of people who stopped looking for work.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/2/2014 (9 months ago)

Published in Business & Economics

Keywords: Unemployment, figures, job searches


LOS ANGELES, CA (Catholic Online) - On any other occasion, it would be good news. The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The downside is that the number of people working or seeking work fell as the Bureau of Labor Statistics does not count people not looking for a job as unemployed.

The bureau noted that the civilian labor force dropped by 806,000 last month, following an increase of 503,000 in March.

Shop for mom today. Buy her a gift she'll love!

The amount of Americans not in the labor force in April rose to 92,594,000, almost 1 million more than the previous month. In March, 91,630,000 Americans were not in the labor force, which includes an aging population that is continuing to head into retirement.

"The labor force participation rate fell by 0.4 percentage point to 62.8 percent in April. The participation rate has shown no clear trend in recent months and currently is the same as it was this past October. The employment-population ratio showed no change over the month (58.9 percent) and has changed little over the year," the bureau said in a statement.

The number of unemployed Americans decreased by 733,000 to 9.8 million last month.

There's sign of an economic recovery. Employers have now added an average of 238,000 jobs the past three months, up from 167,000 in the previous three.

"Not only is job growth continuing, but it is accelerating," Patrick O'Keefe, director of economic research at the accounting and consulting firm CohnReznick says.

There's no getting around the unpleasant fact that the fall in the unemployment rate was due mainly to the exodus of people who stopped looking for work.

According to the Obama administration, businesses have added more than 9.2 million jobs over the past 50 months.

"The employment data can fluctuate from month-to-month, and while this month's report happens to be above expectations, it is still broadly consistent with the recent trends we have been seeing in the labor market," Jason Furman, chairman of President Barack Obama's Council of Economic Advisers, wrote on the White House blog.

"The President continues to emphasize that more can and should be done to support the recovery, including acting on his own executive authority to expand economic opportunity, as well as pushing Congress for additional investments in infrastructure, education and research, an increase in the minimum wage, and a reinstatement of extended unemployment insurance benefits."

House Speaker John Boehner described the recent news as troubling.

"[W]hile its welcome news that more of our friends and neighbors found work in the past month, this report also indicates more than 800,000 Americans left the workforce last month, which is troubling," Boehner said in a statement. "We need more robust economic growth if we're going to help the millions who remain unemployed get back on their feet."

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.



Comments


More Business & Economics

SHINY, RED APPLE: Computer giant is now twice as big as world's second largest firm, ExxonMobil Watch

Image of Strong sales of the larger-screened iPhones resulted in the largest quarterly profit reported by a company, with device sales rising 29.5 percent in the final three months of 2014 to $74.6 billion,

By Catholic Online (NEWS CONSORTIUM)

How big is Apple? The creator of the iPhone and tablets is SO BIG that it is now currently twice as big as its second-closest rival, ExxonMobil. This is being reflected in the stock market, where shares in Apple jumped 2.7 percent at the start of the week to ... continue reading


WHERE IS YOUR MONEY GOING? Government collects $1 trillion from taxpayers - and there's still a deficit! Watch

Image of Where is all of our hard-earned money going?

By Catholic Online (NEWS CONSORTIUM)

Where is all of our hard-earned money going? Real federal tax revenues for the first time ever topped $1 trillion in the first four months of the fiscal year, October through January, according to data released Wednesday by the U.S. Treasury. LOS ANGELES, CA ... continue reading


80 MILLION Americans have their privacy invaded in Anthem data breach Watch

Image of An internal investigation, days later verified that the company was a victim of a cyber-attack, the company said, and federal authorities were alerted.

By Catholic Online (NEWS CONSORTIUM)

Insurance giant Anthem suffered a massive security breach when hackers broached computer safeguards and mad a wild data grab. Up to 80 million Americans have had their privacy effectively invaded, although authorities say more sensitive information was not ... continue reading


Electronic giant RadioShack files for bankruptcy - but will keep some stores open Watch

Image of The Chapter 11 filing, made in federal bankruptcy court in Delaware, surprised few. RadioShack had not turned a profit since 2011.

By Catholic Online (NEWS CONSORTIUM)

RadioShack, an iconic, 94-year-old electronics chain has filed for bankruptcy protection. The company has decided to sell up to 2,400 of its stores to the wireless service provider Sprint and a hedge fund that is its biggest shareholder. LOS ANGELES, CA ... continue reading


Is your bank account suffering? Here are 5 INCREDIBLY EASY TIPS on how to save money! Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Saving money is not a simple task. It is hard to resist eating out or buying the hottest new music. How can your savings account grow when spending money is so easy in today's world? LOS ANGELES, CA (Catholic Online) - Whether you're planning on moving or looking to ... continue reading


Game over: Saudi Arabia threatens to increase oil production to dangerously drive America out of the oil market Watch

Image of America's rising oil production has threatened Opec's control of the global oil market, but Saudi Arabia may be striking back, upping its own production in order to drive costs beyond the ability of American oil corporations to compete.

By Matt Waterson (NEWS CONSORTIUM)

Despite the continuing decline of the price of oil, Saudi Arabia has actually increased its oil production in an attempt to gain a victory in the oil war against shale drillers in the United States. LOS ANGELES, CA (Catholic Online) - The Middle Eastern oil ... continue reading


Talk about a killer app! Apple posts largest profit in history of mankind Watch

Image of The iPhone 6, which has helped Apple post the record largest profit ever made by a corporation.

By Matt Waterson (NEWS CONSORTIUM)

Apple has sold 74.5 million iPhones in just the last three months, helping the tech giant's profits soar to $18 billion, up more than 37 percent. LOS ANGELES, CA (Catholic Online) - This is the largest profit ever made by a corporation, edging out the $16.2 billion ... continue reading


ECONOMIC EARTHQUAKE: IBM rumored to lay off 110,000 employees - biggest cull in business history Watch

Image of First reported on the Forbes Web site, IBM scoffed at the news. Representatives said that the reported scale of the job cuts

By Catholic Online (NEWS CONSORTIUM)

There are alarming indications that the largest corporate layoff in history may be near. There are rumors afoot that computer IBM plans to lay off 110,000 employees shortly. As their entire worldwide workforce is estimated at 430,000, this represents a quarter ... continue reading


Living on less than $2 dollars a day: Only 5 percent of global wealth belongs to the poorest 80 percent of the world Watch

Image of Millions of people around the world are living off of less than two dollars a day.

By Abigail James (NEWS CONSORTIUM)

The staggering increasing inequality among the wealthy and poor around the world continues to be a pressing issue. Eighty rich billionaires have as much money as 3.5 billion of the poorest people. LOS ANGELES, CA (Catholic Online) - The wealthy are occuring their ... continue reading


An amazing 2,500 of the world's most prestigious people canvas Davos, Switzerland for this year's World Economic Forum Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Around 1,700 private jets will cover the sky, as the most elite people of the world descend on the annual World Economic Forum in Davos, Switzerland. Throughout the next week, world leaders, wealthy businessmen and even influential pop stars will come together to speak ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Psalms 79:8, 9, 11, 13
8 Do not count against us the guilt of former ... Read More

Psalm, Psalms 79:8, 9, 11, 13
13 And we, your people, the flock that you pasture, ... Read More

Gospel, Luke 6:36-38
36 'Be compassionate just as your Father is ... Read More

Saint of the Day

Saint of the Day for March 2nd, 2015 Image

Bl. Charles the Good
March 2: In 1086, St. Canute, King of Denmark and father of Blessed ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter