Facts and Figures

Employment and Unemployment

Wed. March 12, 2014

February 2014

 

The unemployment rate was little changed at 6.7% in February.

The unemployment rate is a broad, though somewhat crude measure of how workers are faring in the economy. It does not count discouraged workers, nor does it measure under-employment (for example, workers who want a full-time job but can only find part-time work). Making these adjustments would bring the measured unemployment rate up to 13.1%. But even an adjusted unemployment rate says nothing about the quality of jobs in the economy. This last point is particularly important to keep in mind, given the growth of non-standard (temporary and/or contingent) jobs in the U.S. economy.

 

This Month (February)

Last Month (January) Change
Number Employed
145.3 million
145.2 million
0.0 million
Number Unemployed
10.5 million 10.2 million 0.2 million
Unemployment Rate
6.7% 6.6% 0.1%

Overall Unemployment Rate                                        
6.7%
Whites
5.8%
African-Americans
12.0%
Latinos
8.1%
Asians
6.0%
Women
 5.9%
Men
  6.4% 
Teenagers
21.4%

Multiple Jobholders                             
7.2 million - (or 5.0% of those employed)

 

Source: U.S. Department of Labor, Bureau of Labor Statistics, The Employment Situation.

 

Updated 3/12/2014 by IAM&AW Strategic Resources Department