Unemployment Rate Falls to an 18-Year Low in May

  Employment Overview The unemployment rate reached an 18-year low of 3.8 percent in May according to the Bureau of Labor Statistics’ (BLS) May Employment Situation Summary. Total nonfarm payroll grew by 223,000 jobs, up from 159,000 jobs (revised down from 164,000) in April. The labor force participation rate decreased slightly to 62.7 percent and the number of unemployed persons decreased from 6.3 million in April to 6.1 million in May. The unemployment rate for people ages 55 and older …

Unemployment Drops Below 4 Percent in April

Employment Overview Job growth increased in April as the unemployment rate dropped below 4 percent for the first time since 2000, according to the Bureau of Labor Statistics’ (BLS) April Employment Situation Summary. The economy has added jobs every month for a record-breaking seven and a half years. Total nonfarm payroll grew by 164,000 jobs in April up from 135,000 jobs (revised up from 103,000) in March. The labor force participation rate was down slightly at 62.8 percent and the …

Job Growth Slows in March but Employment Indicators for the 55+ Hold Steady

  Employment Overview The Bureau of Labor Statistics (BLS) March Employment Situation Summary showed that after a strong February with the strongest jobs growth since July 2016, hiring slowed down in March. The economy added 103,000 jobs and the labor force participation rate was down slightly at 62.9 percent.  For the sixth consecutive month, the overall unemployment rate was 4.1 percent. Meanwhile, many employment indicators for those ages 55 and older remained unchanged from February.  The unemployment rate for people …

Economy Adds 313,000 Jobs in February

Employment Overview February 2018 was the strongest month for jobs growth since July 2016, with 313,000 jobs added to the economy. Despite this growth, the Bureau of Labor Statistics (BLS) February Employment Situation Summary showed that the unemployment rate for people ages 55 and older increased from 3 percent in January to 3.2 percent in February. The number of unemployed persons ages 55+ also increased, to 1.2 million, up from 1.1 million in January. The percentage of 55+ jobseekers considered …

Several employment indicators for those ages 55+ improve in January

  Employment Overview According to the Bureau of Labor Statistics (BLS) January Employment Situation Summary, the unemployment rate for persons 55 and older decreased from 3.3 percent in December to 3.0 percent in January. The number of unemployed persons ages 55+ also decreased to 1.1 million, down from 1.2 million in December. The percentage of 55+ jobseekers considered long-term unemployed (those job searching for 27 weeks or more) declined from 30.6 percent in December to 24.8 percent in January. Overall …

Unemployment rate for those ages 55+ increases in December

  Employment Overview The Bureau of Labor Statistics (BLS) December Employment Situation Summary showed the economy added 148,000 jobs in December 2017—a decrease from the 252,000 jobs (revised up from 228,000) added in November. Jobs were added in the health care, construction, and manufacturing industries, and average hourly earnings rose by 0.3 percent, or 9 cents, in December. This compared with a 0.1 percent increase in average hourly earnings in November. Though the overall unemployment rate remained unchanged at 4.1 …