On the first business Friday of the month, the US Bureau of Labor Statistics issues "employment Situation Report" (or jobs report as it is commonly called) for the previous month.
I try to listen dutifully to the report as it is breathlessly announced by reporters on the steps of the US Labor Department. Sometimes I miss it. I definitely try to miss the commentary of the business analysts and their so called "analysis."
Let me offer you the data that was announced first and then go into what is going on in the US economy.
The data according to the US Bureau of Labor Statistics is that non-farm payroll increased by 252000 jobs.
Of these, 52000 were added in the classification called "business and professional services," construction added 48000, food services added 44000, healthcare added 34000 and manufacturing added 17000.
Unemployment declined .2% to 5.6%
Then we get to some curious numbers . . . the labor force participation rate, that is the number of men and women 16 years and older participating in the workforce declined AGAIN to 62.7%. In other words, almost 93,000,000 people are not in the workforce.
Let me repeat that. Almost 93,000,000 people are not in the workforce. Almost one third of the potential working population is not working. More than 29% of the US population.
There is another measure of unemployment called the U-6 rate. It includes the 6.6 percent of unemployment PLUS it adds in what is referred to as those marginally attached to the workforce. In other words, people who are working part time but who want to work full time. They may have worked as little as 1 hour of work but in the numbers that are pumped out in the press, they count as employed for the month, That rate is 11.2%, in effect doubling the unemployment rate.
But there is something seductive in the report that I would like to illustrate.
When you think about "a job" what is the thought that crosses your mind?
A full time job where people go to work and work a 40 hour workweek.
When the government thinks of a job, it reports one hour of work as being a job.
My 13 year old son spent 20 hours for one week during the summer helping work with younger children at his school. That was a job.
Someone I know is a computer consultant. He lives in Illinois and puts in 15 hours per week consulting to clients in Texas, Illinois and DC. He represents three jobs in three states with each governor claiming the success of their efforts to combat unemployment.
In addition for almost every month of the year, the US Bureau of Labor Statistics adds in a certain number of jobs that they cannot proves were created by small businesses they cannot prove exist.
Yes, you read that right.
And, in the November and December numbers, the BLS includes the 95000 UPS and 50000 Federal Express seasonal workers (plus all the temporary Christmas jobs) that will end once the holidays ended and claim victory for economic policies that have nothing to do with government and everything to do with shopping for Christmas.
AND
Every recruiter I know is wildly optimistic as 2015 begins. We all had good 2014's and have every reason to believe that 2015 will be even better.
For you, 2015 will be a year where if you have desirable professional skills and know how to network and job hunt, you can find a job pretty easily.
But if you are a blue collar worker or someone who has been out of work for a long period, you will continue to experience the struggle and will probably need to recast yourself, obtain re-training and start from scratch.
And, in doing so, don't forget to look at jobs in manufacturing or building trades when you do so.
Or starting your own business providing services to workers too busy to take care of all the details of life while working long hours.
There will continue to be opportunities in those underserved areas.
© The Big Game Hunter, Inc. Asheville, NC 2015
Jeff Altman, The Big Game Hunter has been a recruiter for more than 40 years.and is the Host of "Job Search Radio." You can connect with me on LinkedIn and/or follow me at The Big Game Hunter, Inc. on LinkedIn for more articles, videos and podcasts than what are offered here and jobs he is recruiting for.
Pay what you want for my books and guides to job hunting. and receive a complimentary subscription to No B.S. Job Search Advice Ezine atTheBigGameHunter.us.
Trying to hire someone? Email me at JeffAltman@TheBigGameHunter.us.
Are you someone at a manager level or above and need more in-depth job search coaching? Join my coaching program.
Want to ask me a question via email, chat, phone or video? Reach me viaPrestoExperts | or Google Helpouts
