Macroeconomics: Unemployment

Macroeconomics
Assignment: Unemployment

Unemployment Data for August of 2013

Employment (rose/fell/remained unchanged), and the unemployment rate edged (up/down/stayed unchanged) to (?) percent in the last month.

Total nonfarm payroll employment increased by 169,000 in August, and the unemployment rate was little changed at 7.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade and health care but declined in information.

The jobless rate had (risen/fallen/stayed unchanged) from (?) percent in the (previous month) to (?) percent in the (last month).

Both the number of unemployed persons, at 11.3 million, and the unemployment rate, at 7.3 percent, changed little in August. The jobless rate is down from 8.1 percent a year ago. Among the major worker groups, the unemployment rates for adult men(7.1 percent), adult women (6.3 percent), teenagers (22.7 percent), whites (6.4 percent), blacks (13.0 percent), and Hispanics (9.3 percent) showed little change in August. The jobless rate for Asians was 5.1 percent (not seasonally adjusted), little changed from a year earlier.

The number of payroll jobs (increased/ decreased/ was unchanged) by (? thousand) in the latest month, with widespread (gains/ losses)
in the (?) sector of the economy.

Total nonfarm payroll employment increased by 169,000 in August, about in line with the average monthly gain of 184,000 over the prior 12 months. In August, job growth occurred in retail trade and health care, while employment in information declined. Employment continued to trend up in food services and drinking places, professional and business services, and wholesale trade.

Average weekly hours (declined /increased/ were unchanged), and average hourly earnings were (lower/ higher /unchanged) over the month.

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour in August to 34.5 hours. In manufacturing, the workweek increased by 0.1 hour to 40.8 hours, and overtime increased by 0.2 hour to 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.6 hours. In August, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $24.05. Over the year, average hourly earnings have risen by 52 cents, or 2.2 percent. In August, average hourly earnings of private-sector production and nonsupervisory employees rose by 4 cents to $20.20.