By BLS 9/6/24
The BLS has reduced the number
of US jobs reported from April 2023 to March 2024 by 818,000. When spread
through the prior year, the average monthly job gain from April 2023 through
March 2024 was 173,500 versus nearly 242,000, an analysis of BLS data shows. The
downward adjustments were limited to the private sector, with nearly half in
the professional and business services industry (revised down by 358,000, or
1.6%.) Other sectors showing large negative swings included the information
industry (down 68,000, or 2.3%), leisure and hospitality (down 150,000, or
0.9%) and manufacturing (down 115,000, or -0.9%).
This report is preliminary and
will be revised. This report counts the
additions to payroll on ADP and others that offer payrolling services. These
numbers will be compared with payroll tax receipts received in 30 days from all
employers and revised. The estimates released by the Labor Department on
Wednesday — after an uncharacteristic delay of more than half an hour — are
preliminary and will
not be finalized until February 2025.
https://www.cnn.com/2024/08/21/economy/bls-jobs-revisions/index.html
https://www.bls.gov/news.release/empsit.nr0.htm
The average work week dropped
from 34.3 to 34.2 hours in July 2024.
Job openings decreased in August
from 8.184 million to 7.67 million
Job openings increased in July
2024 from 8.14 million to 8.184 million
Job openings increased in June
2024 from 8.06 million to 8.14 million.
Job openings decreased in May
2024 from 8.1 million to 8.06 million.
Job openings decreased in April
from 8.75 million to 8.1 million.
Job openings decreased in March
2024 from 8.86 million to 8.75 million.
https://fred.stlouisfed.org/series/JTSJOL
Jobs restored in 2021 from the
Covid years were 7.2 million.
Jobs created in 2022 were 4.5
million.
Jobs created in 2023 were 3.1
million. rev to 2.282 million.
https://apnews.com/article/jobs-hiring-unemployment-economy-inflation-federal-reserve-96162ff805670eb19a44cdf67fa20e3e
The report shows jobs added in
2021, 2022, 2023 and 2024 by month\
142,000 in August 2024
114,000 in July 2024 rev to
89,000
206,000 in June 2024 rev to
145,000
272,000 in May 2024 rev to
218,000
175,000 in April 2024 rev to
165,000
303,000 in March 2024 rev to
310,000
275,000 in February 2024 rev to
270000
353,000 in January 2024 rev to
229000
Total 1,426,000
158,000 in December 2023 rev to
290000
199,000 in November 2023
150,000 in October 2023
336,000 in September 2023
187,000 in August 2023
187,000 in July 2023
185,000 in June 2023 rev dn 24000
314,000 in May 2023 rev dn 25000
253,000 in April 2023 rev dn
818,000
236,000 in March 2023
311,000 in February 2023
517,000 in January 2023
3,033,000 in 2023
-1,700,000 layoffs
1,333,000 jobs
223,000 in December 2022
263,000 in November 2022
261,000 in October 2022
263,000 in September 2022
315,000 in August 2022
528,000 in July 2022
372,000 in June 2022
390,000 in May 2022
428,000 in April 2022
431,000 in March 2022
678,000 in February 2022
467,000 in January 2022
4,620,000 in 2022
-1,760,000 layoffs
2,860,000 jobs
199,000 in December 2021
210,000 in November 2021
531,000 in October 2021
194,000 in September 2021
235,000 in August 2021
943,000 in July 2021
850,000 in June 2021
559,000 in May 2021
278,000 in April 2021
785,000 in March 2021
379,000 in February 2021
49,000 in January 2021
5,212,000 in 2021
-1,300,000 layoffs
3,912,000 jobs
12,855,000 total 2021-2024
-19,430,000 layoffs
-6,575,000 jobs -818,000 rev
-7,393,000
https://www.google.com/search?q=us+layoffs+in+us+by+year+2021&sca_esv=b51f433a1d832308&ei=reY0ZuygNbHDp84PrtezmAo&ved=0ahUKEwisq4qny_GFAxWx4ckDHa7rDKMQ4dUDCBA&uact=5&oq=us+layoffs+in+us+by+year+2021&gs_lp=Egxnd3Mtd2l6LXNlcnAiHXVzIGxheW9mZnMgaW4gdXMgYnkgeWVhciAyMDIxMgUQIRigATIFECEYoAEyBRAhGKABMgUQIRigATIFECEYoAFI4iJQjghYwAxwAXgBkAEAmAFMoAGWAaoBATK4AQPIAQD4AQGYAgOgAqUBwgIKEAAYsAMY1gQYR8ICBRAhGJ8FmAMAiAYBkAYIkgcBM6AHrws&sclient=gws-wiz-serp
BLS Jobs Report August 2024
Total nonfarm payroll employment
increased by 142,000 in August 2024 and unemployment moved from 4.3% to 4.2%.
The number of unemployed persons moved from 7.2 million to 7.1 million. Long
Term Unemployment remained at 1.5 million. The Labor Participation rate remained
at 62.7%. There were 5.6 million actively seeking jobs.
Construction jobs increased by
34,000 in August.
Health care jobs increased by 31,000
in August and is above February 2020 levels.
Social Assistance jobs increased by
13,000 in August.
Manufacturing jobs did not decreased
by 24,000 in August.
Government jobs did not increase
and is above February 2020 levels.
Transportation and Warehouse jobs did
not increase in August.
Information jobs did not increase
in August.
Leisure and hospitality food and
drink service jobs did not increase in August. Jobs are down by 121,000 since
February 2020
Professional and business
services jobs did not increase in August and is above February 2020 levels by
1,000,000 jobs.
Retail jobs did not increase in
August. Retail jobs are down by 100,000 since February 2020
Other Services jobs did not
increase in August.
Mining, Oil and Gas Extraction
jobs did not increase in August.
Financial jobs did not increase in August. Employment
in financial activities is 200,000 jobs above its February 2020 level.
Wholesale jobs did not increase
in August.
https://www.bls.gov/news.release/pdf/empsit.pdf
In February 2020 the US Jobs
Deficit was 9.5 million.
US Unemployment by industry had
deficits from February 2020.
2020 2021
Industry
June Sept Oct Feb Apr May Aug Dec
Hospitality 2.2M 1.6M 1.4M 1.5M
1.4M 1.3M -1.1m -1m
Prof &
Bus 632K 385K 215K+596k+738k +821k+1.1m +1m
Mfg 481K
353K 270K 178k 56k 17k 0k 0k
Construct 238K
201K 150K 11k +8k +40k +40k +59k
Mining
110K 93K 87K 62k +73k +80k +96k +102
Healthcare 508K 524K 460K 306k 250k 223k -37k +0k
Public Sch 582K
504K 575K 306k 306k 308k -555k
-555k
Pvt
Schls 255K 172K 148K 148k 148k 115k +115k
+115k
SocialAsst 236K
204K 204K 152k 126k 126k -53k -40k
Media/Info 193K
108K 122K 122k 122k 122k +117k
+101k
Tran
Whse 94K +75K +149K+584k +674k+709k +759k +751k
Wholesale
192K 159K 158K 113k 1
57k 41k -3k +0k
Other Svc 297K 189K 169K 317k
317k 317k -317k -300k
Retail
303K
202K 140K 104k 284k+159k -208k -200k
Totals
6.3M 4.6M 4.9M 3.8M 2.9M
2.6M -1.34k - 0k
Industries with deficits as of
2/28/23 included Hospitality, Public Schools, Retail and Other Services.
https://www.bls.gov/news.release/pdf/empsit.pdf
https://www.bls.gov/news.release/empsit.nr0.htm
The Employment
Situation-August 2021 (bls.gov)
https://www.bls.gov/news.release/pdf/empsit.pdf
US Job Cuts
Scores of Americans had to brush up
their CVs last year. In 2023, companies planned 721,677 job cuts, a 98% jump from 2022,
according to a new report from professional outplacement firm Challenger, Gray,
and Christmas. The number marks the highest annual total since 2020.Jan 4, 2024
https://www.google.com/search?q=us+layoffs+in+us+by+year+2023&sca_esv=f73e6ca5e1446b75&ei=ZGc3ZtmxGIzJkPIPyPSVgAg&ved=0ahUKEwjZ846rrvaFAxWMJEQIHUh6BYAQ4dUDCBA&uact=5&oq=us+layoffs+in+us+by+year+2023&gs_lp=Egxnd3Mtd2l6LXNlcnAiHXVzIGxheW9mZnMgaW4gdXMgYnkgeWVhciAyMDIzMgUQIRigATIFECEYoAEyBRAhGKABMgUQIRigATIFECEYoAFI2k1QzydYmz9wAXgAkAEAmAFioAHvAaoBATO4AQPIAQD4AQGYAgOgAskBwgIKEAAYsAMY1gQYR8ICBRAhGJ8FmAMAiAYBkAYIkgcDMi4xoAejEQ&sclient=gws-wiz-serp
The tech layoff
wave is still going strong in 2024. Following significant workforce reductions
in 2022 and 2023, this year has already seen 60,000 job cuts across 254
companies, according to independent layoffs tracker Layoffs.fyi.
https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024
Comments
The US Jobs deficit was 9.5
million in January 2021. This is the shortfall between jobs held in February
2020.
Over 16 million illegal
immigrants entered the US since January 2021. I expect they will take
government welfare in addition to jobs where they can be supervised by
bi-lingual illegals in jobs that don’t require English and drug cartel jobs.
Over 4 million legal immigrants arrive each year and 2 million US students
graduate each year.
The US Labor Force Participation
Rate 2021-2024
62.7 August 2024
62.7 July 2024
62.6 June 2024
62.5 May 2024
62.7 April 2024
62.7 March 2024
62.5 February 2024
62.5 January 2024
62.5 December 2023
62.8 November 2023
62.7 October 2023
62.8 September 2023
62.8 August 2023
62.6 July 2023
62.6 June 2023
62.6 May 2023
62.6 April 2023
62.6 March 2023
62.5 February 2023
62.4 January 2023
60.1 December 2022
62.1 November 2022
62.2 October 2022
62.3 September 2022
62.4 August 2022
62.1 July 2022
62.2 June 2022
62.3 May 2022
62.2 April 2022
62.4 March 2022
62.3 February
62.2 January 2022
61.9 December 2021
61.8 November 2021
61.6 October 2021
61.6 September 2021
61.7 August 2021
61.7 July 2021
61.6 June 2021
61.6 May 2021
61.7 April 2021
61.5 March 2021
61.4 February 2021
61.4 January 2021
https://tradingeconomics.com/united-states/labor-force-participation-rate
US
Layoffs by Year
2023 194,000
2022 93,000
2021 10,353,000
Total 10.640.000
https://www.forbes.com/sites/brianbushard/2023/06/30/nearly-194000-laid-off-in-2023-so-far-as-us-layoffs-surge/?sh=3a3a2ce5777c
https://www.bls.gov/opub/mlr/2022/article/job-openings-and-quits-reach-record-highs-i
Jobs 2021-2024
Jobs restored 12,686,000
Job Lay-offs 10,640,000
Jobs created 2,046,000 rev – 818,000 = 1,228,000
Comments
The 12,686,000 Jobs restored are
off-set by the 10.640,000 Job Lay-offs to have 2.046.000 Jobs created in 2021
to 2023 minus 818,000 puts Jobs created at 1,228,000.
The US population is 335.9
million. The Labor Participation rate is 62.7%. The US Labor force is 209.9375
million.
The BLS Jobs Data is released
monthly to report job starts but doesn’t report job lay-offs. It is quietly
adjusted later and recorded unintelligibly in tables near the bottom of the
report.
The average work week remained at
34.3 hours in August 2024. The Labor Participation rate remained 62.7 in August
2024. These are clues that US citizen employment is flat. The increase is
likely due to job gains by illegal immigrants.
US
Lay-offs 2023-2024
By
Trading Economics 2-24-24
Feb
2024 1.72K
Jan
2024 1.60K
Dec
2023 1.61K
Nov
2023 1.55K
Oct
2023 1.65K
Sep
2023 1.61K
Aug
2023 1.68K
Jul
2023 1.68K
Jun
2023 1.55K
May
2023 1.55K
Apr 2023 1.59K
Mar
2023 1.84K
Total 19.63K
https://tradingeconomics.com/united-states/job-layoffs-and-discharges
Comments
If
I applied the data above on US layoffs to the US Jobs Report, the data shows
jobs lost from 2021 to Feb 2024 were 6,944,000.
Jobs 2021-2023 Revised Feb 2024
Jobs restored 12,686,000 12,686,000
Job Lay-offs 10,640,000
19,630,000
Jobs created 2,046,000
-6,944,000 jobs lost
Comments
By
2021, most large companies required job seekers to apply via painfully complex
company job websites. They hired mostly Black and LGBTQ applicants to comply
with DEI edicts. White Conservatives were not welcome and many quit their Woke
companies. Company website applications were too much hassle for lower paid
workers who used to show up with a resume to get a job.
The
11 million jobs open reported in 2021, was a fishing trip for Engineers with
specific skills in AI, EV, Cyber abatement and advanced chip design and
manufacturing. At the same time these companies were in the process of deciding
what new fad they would continue to fund. Apple was going to make EVs and
dropped it. Bezos bought Twitter, found corruption and laid off 75% of his
workforce. AI companies did find Engineers who had been studying AI since 2000.
Engineers can now work from home as consultants.
As
job postings fell from 2022 to 2023, non-engineering jobs were posted “in case
they needed employees”, but applicants were ignored as companies continued to
question future demand for their services. Applicants stopped applying through
company websites and turned to finding their own jobs.
The
8 million jobs open reported in 2024 reflects the bubbles in job postings that
arose from “ready, fire, aim” tactics used by big companies as they assessed
what fads would succeed. Low EV sales reflected prohibitive costs, design flaws
and limitations. EV mandates continue to be ignored.
Covid
vaccine edicts by Woke Companies resulted in forced terminations from 2021 to
2023. Small “non-essential” businesses closed in Democrat States. On-line sales
spiked as retail stores closed. Big Box grocery stores gained business as
restaurant and fast-food sales declined. Covid taught consumers to eat at home.
Work from home became popular and employees are hesitant to go back to the
office. Big City office space is being converted to apartment units.
Open
Borders from 2021 has resulted in the invasion of illegal migrants to big
cities. Illegal gangs have added to the crime and employees are even more
hesitant to go to the office.
10
million illegals or 65% of our 16 million are working in the US and have taken
the jobs. The 6 million plus Illegal migrants are working for Drug Cartels,
collecting welfare and awaiting work permits. Many are working illegally in the
US at familiar companies processing animal parts, landscaping and working in
on-line retail in warehouse jobs.
This
818,000 downward revision should prompt Congress to ensure that better methods
are adopted by BLS for this market sensitive report, before everyone just
decides to ignore all future US Job Reports.
Norb Leahy, Dunwoody GA Tea Party
Leader
