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The U.S. Bureau of Labor Statistics (BLS) publishes a monthly "Employment Situation Summary" with key statistics and commentary. As of June 2018, approximately 128.6 million people in the United States have found full-time work (at least 35 hours a week in total), while 27.0 million worked part-time. [11]
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work.
The BLS uses the data to publish reports early each month called the Employment Situation. This report provides estimates of the unemployment rate and the numbers of employed and unemployed people in the United States based on the CPS.
Employers have cut 417,500 jobs so far in 2023, the most since 2020. Layoffs have been largely concentrated in the technology sector, which has seen 136,800 layoffs so far this year. Before the COVID-19 pandemic transformed the American workplace, about 76.7 percent of employers reported little or no telecommuting among employees.
Causes of unemployment in the United States. Job creation and unemployment are affected by factors such as aggregate demand, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage rates .
The BLS also provides a readable concise current Employment Situation Summary, updated monthly. U1–U6 since 1950, as reported by the Bureau of Labor Statistics. The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 to U6, which measure different aspects of unemployment:
Full employment is a situation in which there is no cyclical or deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search for better ...
Broadly, gainful employment refers to an employment situation where the employee receives steady work, payment from the employer and that allows for self-sufficiency. In psychology, gainful employment is a positive psychology concept that explores the benefits of work and employment.
Job losses caused by the Great Recession refers to jobs that have been lost worldwide within people since the start of the Great Recession. In the US, job losses have been going on since December 2007, and it accelerated drastically starting in September 2008 following the bankruptcy of Lehman Brothers. [1]
Underemployment is the underuse of a worker because their job does not use their skills, offers them too few hours, or leaves the worker idle. [2] It is contrasted with unemployment, where a person lacks a job at all despite wanting one.