According to the Jacksonville Observer, the unemployment rate in Florida has now breached the 11% mark.
It is the highest unemployment rate for the sunshine state since 1975, and it's up over 4 percentage points in the one year since September 2008.
Fort Walton Beach, Gainesville and Tallahassee – regions known for government, education and military employment – had the lowest unemployment rates, all less than 7.5 percent.
Friday, October 16, 2009
Friday, October 2, 2009
U6 Unemployment Tops 17%
This morning the Bureau of Economic Analysis put out data concerning the unemployment rate for the United States during September 2009. The reported unemployment rate climbed to 9.8% in the most recent month, and the broader total unemployment (aka the U6 Unemployment) climbed to 17%--this figure includes people who are working part time for economic reasons.
EconomPicData does a great job of plotting all types of economic data and today I'm pulling a nice chart that he created that shows just how tightly correlated the Unemployment rate and the U-6 Unemployment rate are.
Another disturbing trend that EconomPicData picks up on is the fact that the number of hours worked per week times the # of people employed divided by the population (essentially the number of hours per week worked per capital). And what is disturbing is that it is at a multi-decade low and still dropping; additionally, before companies start hiring new workers they usually start increasing the number of hours worked by their existing work-force.
EconomPicData does a great job of plotting all types of economic data and today I'm pulling a nice chart that he created that shows just how tightly correlated the Unemployment rate and the U-6 Unemployment rate are.
Another disturbing trend that EconomPicData picks up on is the fact that the number of hours worked per week times the # of people employed divided by the population (essentially the number of hours per week worked per capital). And what is disturbing is that it is at a multi-decade low and still dropping; additionally, before companies start hiring new workers they usually start increasing the number of hours worked by their existing work-force.
Wednesday, September 30, 2009
Where are the Jobs?
If you're trying to figure out where the jobs are, indeed.com does a report that shows you what cities currently have the most job postings per capita in United States.The Top 20 Cities for Job Searches are:
| Rank (Last Qtr Rank) | Metropolitian Area | Job Postings Per 1000 People |
| 1 (1) | Washington, DC | 133 |
| 2 (2) | Baltimore, MD | 90 |
| 3 (3) | San Jose, CA | 80 |
| 4 (7) | Austin, TX | 56 |
| 5 (6) | Hartford, CT | 54 |
| 6 (9) | Seattle, WA | 53 |
| 7 (8) | Salt Lake City, UT | 52 |
| 8 (11) | Denver, CO | 50 |
| 9 (5) | Boston, MA | 49 |
| 10 (4) | Las Vegas, NV | 49 |
| 11 (15) | Charlotte, NC | 49 |
| 12 (10) | San Francisco, CA | 47 |
| 13 (12) | Milwaukee, WI | 41 |
| 14 (30) | Atlanta, GA | 40 |
| 15 (13) | Cincinnati, OH | 39 |
| 16 (14) | Oklahoma City, OK | 39 |
| 17 (22) | Orlando, FL | 37 |
| 18 (23) | Richmond, VA | 37 |
| 19 (24) | Jacksonville, FL | 36 |
| 20 (16) | Dallas, TX | 36 |
meanwhile the 10 major cities with the fewest jobs per capita are:
| 40 (44) | St. Louis, MO | 30 |
| 41 (39) | Portland, OR | 30 |
| 42 (42) | New York, NY | 28 |
| 43 (41) | Birmingham, AL | 28 |
| 44 (46) | Chicago, IL | 27 |
| 45 (43) | Riverside, CA | 26 |
| 46 (45) | Los Angeles, CA | 24 |
| 47 (47) | Buffalo, NY | 24 |
| 48 (48) | Rochester, NY | 19 |
| 49 (49) | Miami, FL | 17 |
| 50 (50) | Detroit, MI | 15 |
It probably isn't surprising that Detroit has the fewest jobs per person, and that Washington DC has the most jobs per person. Government jobs and lobbying jobs are in demand as the government runs the printing press to try and save jobs and support the economy. Meanwhile Detroit, LA, Miami, and Chicago are having slimmer pickings.
Tuesday, September 8, 2009
What are the Top Paying Jobs?
If you're looking at what are the highest paying jobs for graduates from college you should consider engineering, economics or physics.Payscale.com has put out a comprehensive list for people by college major (not counting people who have attained a graduate degree). You can see what people currently earn (1 or 2 out of college) and what they earn after ~15 years out of school (i.e. graduated around 1995). It may not surprise you, but the more quantitative the field of study, the more opportunity there is for a higher income.
For many of today's unemployed, this is not a possibility, but if you have a child in high school or college, this is important data that you can provide them when they are trying to decide what major to study.
Friday, September 4, 2009
August Unemployment Rate Increases to 9.7%, U-6 Unemployment Rate Nears 17
Click on Chart for a bigger image.Today, the Bureau of Labor Statistics stated that the seasonally adjusted unemployment rate in the United States increased 0.3 percentage points in August 2009 to 9.7%. This is the largest percentage of unemployed workers in America since 1983.
When you combine the unemployed with the underemployed, you get the U-6 unemployment rate--which increased to 16.8% in August 2009.These two data points coupled with the fact that the average work week was just 33.1 hours in August 2009 means that there is a lot slack in the economy and even people with jobs may be nervous that they could lose them.
Subscribe to:
Posts (Atom)