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The Labor Market SituationJuly 8, 2013

Dr. Jennifer HuntChief Economist

US Department of Labor

Office of the Chief Economist

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Steady job growth since February 2010

Source: Bureau of Labor Statistics, Current Employment Statistics Program

Over-the-month change, in thousands• June:

202• May:

207• April:

18812-month change, in thousands

• June 2012 to June 2013:

2,357

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Steady unemployment decline since end 2009

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Leisure & Hospitality led job growth this month

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Since the end of the recession, many industries have not recovered their employment losses

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Long-term unemployed share falling

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Labor force participation has been falling, even among adults age 25 to 54

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Problem is not layoffs, but low hiring rate

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Ratio of unemployed to job openings has fallen, but remains above pre-recession levels

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We are experiencing an “L” shaped recovery; CBO estimates we won’t return to potential until 2018

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Graduation rates have continued to increase

Source: Murnane, Richard J. “U.S. High School Graduation Rates: Patterns and Explanations” NBER Working Paper 18701. January 2013

Graduation rates by birth year

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Student test scores are rising

Source: Murnane, Richard J. “U.S. High School Graduation Rates: Patterns and Explanations” NBER Working Paper 18701. January 2013

NAEP Long-Term Trend Scores for 13-Year-Olds Scoring in the 25th Percentile in Mathematics and Reading for White, Hispanic, and Black Students

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Thank you!