Skip to content

More than 92 million Americans remain unemployed

By Catholic Online (NEWS CONSORTIUM)
5/2/2014 (3 years 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 (3 years 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."

---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2017 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed.
That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.


Comments


More Business & Economics

Is now the time to sell? Experts say Wall Street is on a bubble, here's why Watch

Image of Stocks appear to be on a bubble according to many experts.

Is now the time to sell on Wall Street? Stocks are on a bubble, according to multiple analysis and expert opinions. Fundamental market ... continue reading


Forget Winter, Recession is Coming Watch

Image of Major indicators reveal recession is coming.

The economy is about to go into recession according to several Wall Street firms. They are warning investors to prepare for an end to the ... continue reading


Get ready for self checkout everywhere: 3.5 million retail cashiers are about to be replaced by automation Watch

Image of Retail cashiers often loathe self checkout stands. However, both cashiers and self checkout stands are facing replacement as new technologies threaten to eliminate the checkout process.

Automation is coming soon to a store near you as retailers look for ways to cut costs and improve profits. The best way to accomplish this ... continue reading


'Budgets are moral documents'

Image of

The highly relevant quote, "Budgets are moral documents," has been arguably attributed to Rev. Martin Luther King, Jr. But if he didn't ... continue reading


Central bankers warn of looming global recession Watch

Image of A recession could be lurking around the corner and central banks have been asked to take note, especially in Asia.

A group of central bankers has warned that a great recession, possibly larger than the 2007-2008 recession is looming on a global scale. ... continue reading


Never Miss any Updates!

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

Information
Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Services
Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on catholic.org

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Education
Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

Catholic Online MasterClass
Learn from experts

School Teachers
Teacher lesson plans & resources

Catholic Media Missionaries
The New Evangelization

Support Free Education
Tax deductible support Free education

Socials
Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.