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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Lambert Strether</author_name><author_url>https://www.nakedcapitalism.com/author/lambert-strether</author_url><title>The BLS Jobs Report Covering March 2013: Blah Trend Numbers but Some Seasonal Strength Although Not As Good As Previous Years | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="QmkviQCzP0"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/04/bls-jobs-report-covering-march-2013-blah-trend-numbers-but-some-seasonal-strength-although-not-as-good-as-previous-years.html"&gt;The BLS Jobs Report Covering March 2013:  Blah Trend Numbers but Some Seasonal Strength Although Not As Good As Previous Years&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/04/bls-jobs-report-covering-march-2013-blah-trend-numbers-but-some-seasonal-strength-although-not-as-good-as-previous-years.html/embed#?secret=QmkviQCzP0" width="600" height="338" title="&#x201C;The BLS Jobs Report Covering March 2013:  Blah Trend Numbers but Some Seasonal Strength Although Not As Good As Previous Years&#x201D; &#x2014; naked capitalism" data-secret="QmkviQCzP0" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente. A complete archive of Hugh's reports can be found here.  The short form: In March, in the Household survey, the BLS undercount of those unemployed grew, and the labor force became smaller. It will take 6-12 months to know whether the declines we are seeing in the size of the labor force are cyclical or secular. The adjusted and unadjusted numbers for the labor force showed different pictures. Adjusted (trend line), the labor force fell with employment and unemployment also falling. That is nearly half a million workers left or were defined out of the labor force leaving the mix of the labor force little changed between employed and unemployed, and between full and part time. Unadjusted (where the economy is now), the decline in the labor force was smaller, 215,000 removed from the labor force. And the mix in the labor force was more positive. Employment increased 470,000 and full time employment grew by 605,000. Still while the unadjusted data were showing improvement, the rate of improvement showed some weakness as compared to the trend.  Nor is any strength to be found in earnings with wages for all employees marginally increasing and wages for blue collar employees marginally declining. Neither wages nor hours have shown much improvement over the last 12 months. Average weekly hours for all workers still remain below 35, the definition of full time employment.</description></oembed>

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