2017 SOTU Backdrop Part V – Unemployment & Underemployment

United States Census Bureau: To derive unemployment and underemployment statistics, it is necessary to establish the current population as a base of measurement. The home page provides current estimates of population, and links to selected reports.

Population Clock: U.S. Population is currently estimated to be 324,386,000 citizens. The clock displays data from the census and provides projections forward. There are exceptions to which citizens are not included.

Population and Housing Unit Estimates: This page provides links to tables with national, state, and commonwealth tables for 2000-2016. The national outlook will be explored. However, for researchers desiring to review by state, the data tables are available. The employment page provides data tables on employers, public and private sectors, labor force statistics, and payroll data.

Bureau of Labor Statistics: Publishes current information on inflation and prices, pay and benefits, employment including by occupation, employment by major industry, unemployment, productivity and more.

Occupational Outlook Handbook: Provides information on duties, education, training and pay for hundreds of occupations. Computer and information technology occupations are projected to grow by 12 percent from 2014 to 2024, faster than the average for all occupations.

Occupational Employment Job Openings: Estimated openings (in thousands) due to growth and replacements from 2014-2024 is 46,506. The table includes anticipated annual wages, education and experience.

Employment Projections: 2014-2024 reflect growth in medical related fields.

Bureau of Labor Statistics Calculators: Display graphical images by category. Selecting an image will lead to a list of data table titles which can be selected for further research. Place a checkmark in a box and select “Retrieve data” at the bottom of the page to retrieve the data.

Data retrieved using the calculator: (in thousands) as of December 2016: (Selecting Employment, Monthly, Labor Force Statistics) will provide a table of reports which will provide the following:

Civilian Labor Force Level: (In thousands. Some totals will not agree due to rounding of hundreds of data files)
Labor Force Participation Rate: 62.7 percent.
Employment Level: 152,111
Employed Full-time: 124,248
Employed Part-time: 27,895

Unemployment Level: 7,529

Welfare Statistics: (current data as of January 2017)

Total number of Americans receiving welfare government assistance: 67,891,000
Receiving SNAP food stamps: 41,170,000
Receiving UI/EDD unemployment insurance: 10,200,000
More:
Total Federal government spending on welfare programs annually (not including food stamps or unemployment): $158,200,000,000

Underemployment:

Personal desires regarding employment may be difficult to gauge. Unemployment + Part-time employment may indicate underemployment. If so, that would equate to 35,424 (in thousands) underemployed. Additionally, there are 28,400 (in thousands) students 16 years and above attending high school and college. These two statistics equal 63,824 (in thousands).

As robots take jobs, Europeans mull free money for all. The radical notion that governments should hand out free money to everyone — rich and poor, those who work and those who don't — is slowly but surely gaining ground in Europe.

Posted in SOTU Backdrop.