Friday, October 5, 2012

September AJSN Shows Latent Demand for 20.7 Million American Jobs, Down 1.3 Million

The September American Job Shortage Number, or AJSN, is now available, and, along with the official unemployment rate released this morning, it shows a large improvement.  Although there is still latent demand for about 20.7 million jobs in the United States, that number is about 1.3 million lower.  Here is the breakdown:

AJSN - SEPTEMBER 2012TotalLatent Demand %Latent Demand Total
Family Responsibilities244,0003073,200
In School or Training329,00050164,500
Ill Health or Disability177,0001017,700
Did Not Search for Work In  Previous Year3,278,000802,622,400
Not Available to Work Now632,00030189,600
Do Not Want a Job82,271,00054,113,550
Non-Civilian and Institutionalized, 15+7,019,69210701,969
American Expatriates6,320,000201,264,000
TOTAL  20,726,319

The AJSN is not seasonally adjusted, so much of the improvement was due to people, as usual, getting jobs after Labor Day and the start of the school year.  Some changes in latent demand were 858,600 fewer jobs absorbable by those unemployed and 427,200 fewer for those who wanted to work but did not search for it in the previous year, but 49,550 more for those stating they do not want a job.  The gain in American resident population aged 15 or older, 166,000, was more than covered by the 775,000 rise in number of people employed.

For American jobs, September was an excellent month, in fact the best for over a year, but a shortage of over 20 million jobs, at a seasonal high point for employment, is still a tremendous problem.  The October data, to be released in about a month, will tell more about the extent to which we actually have an improvement trend. 

No comments:

Post a Comment