The Labor Market Situation September 11, 2013

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The Labor Market Situation September 11, 2013 Dr. Jennifer Hunt, Chief Economist, U.S. Department of Labor

Transcript of The Labor Market Situation September 11, 2013

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1 1 Filename/RPS Number Office of the Chief Economist 1

Steady job growth since February 2010

1 month change, in thousands •  August 152 •  July 127 •  June 194

12-month change, in thousands •  August 2012 to 2013: 2,300 •  Average: 192

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2 2 Filename/RPS Number Office of the Chief Economist 2

Steady unemployment decline since end 2009

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3 3 Filename/RPS Number Office of the Chief Economist 3

Employment-to-population ratio has not recovered to pre-recession rates

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Retail Trade has led job growth the past three months

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Involuntary part time for economic reasons has fallen among private-sector and non-Federal Government

Source: Bureau of Labor Statistics, Current Population Survey, www.bls.gov/cps

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6 6 Filename/RPS Number Office of the Chief Economist 6

Since ACA became law, 9 out of 10 new positions are full time

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No systemic evidence employers are shifting employees to <30 hours per week

Source: Bureau of Labor Statistics, Current Population Survey, www.bls.gov/cps

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8 8 Filename/RPS Number Office of the Chief Economist 8

Mix of full-time and part-time employment is typical for an economic recovery

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Thank you!