Home
/
RELIGION & LIBERTY ONLINE
/
Unemployment as economic-spiritual indicator — May 2017 report
Unemployment as economic-spiritual indicator — May 2017 report
Jan 12, 2025 5:13 AM

Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and munities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need to know (see also: What Christians Should Know About Unemployment).

Positive news is marked with the plus sign (+) while negative employment data is marked with a minus sign (-). No significant change is marked by (NC).

Overview:While most of the metrics were positive, few jobs were added and a large number of Americans dropped out of the labor for, making this one ofthe worst jobs report in years.

Number of new jobs added (-): 138,000

Unemployment rate (NC):4.3 percent

Total number unemployed (NC): 6.9 million.

Employment-population ratio (NC): 60.0 percent.

Change by worker groups: adult men (NC), adult women (NC), teenagers (NC), blacks (NC), whites (+), Asians (NC), and Hispanics (NC).

Long-term unemployed (NC): 1.7 million and accounted for 24.0 percent of the unemployed.

Civilian labor force participation rate (NC): 62.7 percent.

Persons employed part time for economic reasons (NC): 5.2 million.

Discouraged workers (+): 355,000.

Glossary:

Unemployment: According to the federal government, to be unemployed a person must (a) be jobless, (b) looking for a job, and (c) available for work.People are considered employed if they have a job (whether temporary, part-time, etc.). People who are neither employed nor unemployed are considered to be not in the labor force.

Unemployment rate: Calculated by dividing the number of unemployed individuals by all individuals currently in the labor force.

Total number unemployed: number of people unemployed in America in the previous month.

Employment-population ratio: measures the proportion of the country’s working-age population (ages 16 to 64) that is employed. This number includes people that have stopped looking for work.

Change by worker groups: whether the number of unemployed in that group increased or decreased.

Long-term unemployed: People who have been unemployed for 12 months or longer.

Civilian labor force participation rate: share of the population 16 years and older working or seeking work.

Persons employed part time for economic reasons: individuals who would have preferred full-time employment but were working part time because their hours had been cut back or because they were unable to find a full-time job.

Discouraged workers: unemployed individuals who have stopped looking for work for one of four reasons:

1. They believe no job is available to them in their line of work or area.

2. They had previously been unable to find work.

3. They lack the necessary schooling, training, skills, or experience.

4. Employers think they are too young or too old, or they face some other type of discrimination.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
The Michael Novak book that changed reality
From a 2017 vantage point, it’s easy to forget just how radical this book was, says Samuel Gregg in this week’s Acton Commentary. In penning theSpirit of DemocraticCapitalism, Novak was the first theologian to really make an in-depth moral, cultural, and political caseforthe market economy in a systematic way. Needless to say, Novak’s book generated fierce reactions from the religious left. The opprobrium was probably heightened by the fact that theSpiritconfirmed what had e evident from the mid-’70s onwards: that...
When morality evaporates
When Tzvetan Todorov died on Feb. 7, the Bulgarian/French philosopher and literary critic was lamented only in certain intellectual ghettoes. To the men and women eulogizing Todorov in these circles, he was feted properly if not stingily, which is most unfortunate. Finite word counts are a harsh mistress when a fellow writer endeavors to create a fully realized portrait of his or her subject. Todorov leaves behind a body of historical and moral philosophy that connects the dots between the...
Why is customer service better at Starbucks than at the DMV?
Note: This is post #22 in a weekly video series on basic microeconomics. Prices are signals that indicate to suppliers how much is being demanded. So what happens when the government puts a cap on the price that can be charged for a product or service? Two effects are shortages and lower quality. In this video by Marginal Revolution University, economist Alex Tabarrok explains why this happens. (If you find the pace of the videos too slow, I’d mend watching...
Toward a Christian view of economics
Embed from Getty Images Many Christians assume that the Bible has nothing at all to say about economics, says theologian Albert Mohler, but a biblical worldview actually has a great deal to teach us on economic matters. Mohler outlines twelve theses for what a Christian understanding of economics must do. Here are three of them: 1. It must have God’s glory as its greatestaim. For Christians, all economic theory begins with an aim to glorify God (1 Cor. 10:31). We...
Video: Arthur C. Brooks on how to bring America together
American Enterprise Institute President Arthur C. Brooks joined us here at the Acton Institute on Monday evening as part of the Acton Lecture Series, and as usual he delivered a great and optimistic message, even in the midst of this time of deep divisions in the United States. It’s impossible to avoid the fact that America is more deeply divided politically today than it has been in decades, and the question is whether or not the current state of affairs...
Temporary jobs have long-term effects on European youth
Ask any economist what the greatest force undermining prosperity is, and hewill answer with one word: uncertainty. But since economics is just human action, uncertainty hurts every aspect of peoples’ lives, upending their plans and delaying – or destroying – their dreams. In Europe, a growing number of young people are unable to engage in the rites of passage that marked the entrance of previous generations into adulthood – a subject Marco Respinti explores on the Religion & Liberty Transatlantic...
Explainer: What is the Comprehensive Economic and Trade Agreement (CETA)?
On Wednesday, February 15, the European Parliament approved theComprehensive Economic and Trade Agreement (CETA), a free trade agreement abolishing most trade restrictions between the European Union and Canada. Negotiators hammered out the 1,600-page agreement over the course of seven years before Canadian Prime Minister Justin Trudeau and European Council President Donald Tusk signed CETA last October 30. Then, the pact swept through the Strasbourg-based European Parliament by a vote of408-254 with 33 abstentions last week. What does it do? CETA...
DonorSee: A charity app that challenges ‘Big Aid’
For far too long, Westerners have simply accepted the status quo of foreign aid, building ever-larger systems and programs for global charity even as they’re proven to squander resources and disempower the munities they intend to assist. As films like Poverty, Inc.and thePovertyCureaptly demonstrate, when es to charity, we need a profound shift in our heads, hands, and hearts — “from aid to enterprise, from poverty alleviation to wealth creation, from paternalism to partnerships, from handouts to investments.” Such a...
Understanding the President’s Cabinet: Veterans Affairs Secretary
Note: This is the sixth in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introductionhere. Department of Education / U.S. Department of Education (Public Domain) Cabinet position:Secretary of Veterans Affairs Department:Department of Veterans Affairs Current Secretary:David J. Shulkin Succession:The Secretary of Veterans Affairs is sixteenth in the presidential line of succession. Department Mission:“The Department of Veterans Affairs (VA) is responsible for providing vital services to America’s veterans. VA provides...
Religion & Liberty: Fighting for totalitarianism’s victims
The unofficial theme for Religion & Liberty’s first issue in 2017 is despotism. In this issue, you’ll find stories from the Soviet Union, a close look into the North Korea regime and a reexamination of Hitler’s rise to power. The cover story is an interview with human rights expert Suzanne Scholte, who discusses her passion for fighting the sadistic rule of Kim Jong Un and working with North Korean defectors. After 20 years fighting for those who don’t enjoy freedom...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved