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The Labor Market Situation
July 8, 2013
Dr. Jennifer Hunt
Chief 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: 188
12-month change, in thousands
• June 2012 to June 2013: 2,357
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Since the end of the recession, many industries have
not recovered their employment losses
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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
