Employment Situation Now and the Furture

The unemployment rate has not changed from November from 5.0 percent (Bureau of Labor Statistics U.S. Department of Labor, 2015). Even there were gains in construction, professional and technical services, and health care. There also were some job losses in mining and information. In looking at the employment population ratio at 59.3 percent (Bureau of Labor Statistics U.S. Department of Labor, 2015). This has increased 0.1 percent from November. This is not much change put we can see that there are some people getting out of the unemployment work force. The labor force participation rate this December is 62.5 percent (Bureau of Labor Statistics U.S. Department of Labor, 2015). Unfortunately, has decreased by 0.4 percent. This can be caused do to the rise in employment population or the loss of jobs in mining and information.  

There are differences in the age of unemployed individuals. The following make up the unemployment of worker groups: 4.7 percent adult men, 4.6 percent adult women, and 15.7 percent teenagers (Bureau of Labor Statistics U.S. Department of Labor, 2015).  Women have increased by 0.1 percent in unemployment from October to November. Where teenagers have decreased 0.2 percent from October to November. One possibility for this change could be the teenagers are graduating college or high school and are starting to find jobs and this has taken some of the adult women jobs. Looking more closely to the age of unemployed individuals. Men seem to be more unemployed at ages 16 and 17 at a percentage of 18.2 in November (Bureau of Labor Statistics U.S. Department of Labor, 2015). Where women had a 15.1 percent in ages 16 and 17, and was also their highest percentage of women’s age groups (Bureau of Labor Statistics U.S. Department of Labor, 2015). It also looks like that both women at men at age 55 and over are keeping their jobs with both at 3.7 percent in November (Bureau of Labor Statistics U.S. Department of Labor, 2015). I see this having to do with the government increasing the age limit to social security benefits and saving money independently.  

            One should also see the trend why people are unemployed past two months in November and October. The highest reason for unemployment has been for new entrants at 26 thousand increase (Bureau of Labor Statistics U.S. Department of Labor, 2015). Shockingly, there has been a 71 thousand decrease in people being unemployed due to losing their jobs or having a temporary job.

In looking into what trends are going to happen in 2016. I think there will be a shift of percentages in the age and sex groups with large number of college students coming into the work force after graduation. This the same with teenagers who are graduating high school they will either be going to college and increase the unemployment rate of young adult ages 18 to 22 or go into the employment work force. With the rise in higher education that has been supported over the years most of the teenagers with go into college.

Work Cited:

Bureau of Labor Statistics U.S. Department of Labor. (2015, December 4). The Employment Situation - November 2015. 1-38. Retrieved December 10, 2015