What Key Factors Should Risk Officers Consider When Using Generative AI
Dr Dev Kambhampati | USA Labor Market in Charts
1. 1 — U.S. BUREAU OF LABOR STATISTICS • bls.gov
Charting the labor market:
Data from the Current
Population Survey (CPS)
July 7, 2017
2. 2 — U.S. BUREAU OF LABOR STATISTICS • bls.gov
Table of contents
1. Civilian labor force
2. Civilian labor force participation rate
3. Civilian employment
4. Employment-population ratio
5. Nonagricultural wage and salary employment
6. Nonagricultural self-employed, unincorporated
7. Part-time workers as a percent of total employed
8. Employed part time for economic reasons
9. Civilian unemployment
10. Civilian unemployment rate
11. Duration of unemployment
12. Long-term unemployed as a percent of total unemployed
13. Reasons for unemployment
14. Job losers by layoff status
3. 3 — U.S. BUREAU OF LABOR STATISTICS • bls.gov
Table of contents—Continued
15. Unemployment rates for adult men, adult women, and teenagers
16. Unemployment rates by race and Hispanic or Latino ethnicity
17. Unemployment rates for persons 25 years and older by educational
attainment
18. Persons not in the labor force who want a job
19. Persons not in the labor force, selected indicators
20. Alternative measures of labor underutilization
Additional information available in The Employment Situation news release:
www.bls.gov/news.release/pdf/empsit.pdf
Browse labor force concepts and data by subject:
www.bls.gov/cps/cpsaz.htm
4. 4 — U.S. BUREAU OF LABOR STATISTICS • bls.gov4 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 1. Civilian labor force
Seasonally adjusted, 1990–2017
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
165,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
165,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS11000000.
5. 5 — U.S. BUREAU OF LABOR STATISTICS • bls.gov5 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 2. Civilian labor force participation rate
Seasonally adjusted, 1990–2017
61.0
62.0
63.0
64.0
65.0
66.0
67.0
68.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
61.0
62.0
63.0
64.0
65.0
66.0
67.0
68.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS11300000.
June 2017
62.8 percent
6. 6 — U.S. BUREAU OF LABOR STATISTICS • bls.gov6 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 3. Civilian employment
Seasonally adjusted, 1990–2017
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS12000000.
7. 7 — U.S. BUREAU OF LABOR STATISTICS • bls.gov7 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 4. Employment-population ratio
Seasonally adjusted, 1990–2017
57.0
58.0
59.0
60.0
61.0
62.0
63.0
64.0
65.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
57.0
58.0
59.0
60.0
61.0
62.0
63.0
64.0
65.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS12300000.
June 2017
60.1 percent
8. 8 — U.S. BUREAU OF LABOR STATISTICS • bls.gov8 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 5. Nonagricultural wage and salary employment
Seasonally adjusted, 1990–2017
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS12032187.
.
9. 9 — U.S. BUREAU OF LABOR STATISTICS • bls.gov9 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 6. Nonagricultural self-employed, unincorporated
Seasonally adjusted, 1990–2017
7,500
8,000
8,500
9,000
9,500
10,000
10,500
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
7,500
8,000
8,500
9,000
9,500
10,000
10,500
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS12032192.
Numbers in thousands
10. 10 — U.S. BUREAU OF LABOR STATISTICS • bls.gov10 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 7. Part-time workers as a percent of total
employed
Seasonally adjusted, 1990–2017
15.0
16.0
17.0
18.0
19.0
20.0
21.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
15.0
16.0
17.0
18.0
19.0
20.0
21.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Beginning in
1994, data reflect the introduction of a major redesign of the Current Population Survey. Data online at
https://data.bls.gov/timeseries/LNS12692153.
11. 11 — U.S. BUREAU OF LABOR STATISTICS • bls.gov11 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 8. Employed part time for economic reasons
Seasonally adjusted, 1990–2017
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Beginning in
1994, data reflect the introduction of a major redesign of the Current Population Survey. Data online at
https://data.bls.gov/timeseries/LNS12032194.
12. 12 — U.S. BUREAU OF LABOR STATISTICS • bls.gov12 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 9. Civilian unemployment
Seasonally adjusted, 1990–2017
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS13000000.
13. 13 — U.S. BUREAU OF LABOR STATISTICS • bls.gov13 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 10. Civilian unemployment rate
Seasonally adjusted, 1990–2017
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS14000000.
June 2017
4.4 percent
14. 14 — U.S. BUREAU OF LABOR STATISTICS • bls.gov14 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 11. Duration of unemployment
Seasonally adjusted, 1990–2017
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS13008396&series_id=LNS13008756&series_id=LNS13008876&series_id=LNS13008636.
27 weeks and over
Less than 5 weeks
5 to 14 weeks
15 to 26 weeks
15. 15 — U.S. BUREAU OF LABOR STATISTICS • bls.gov15 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 12. Long-term unemployed as a percent of total
unemployed
Seasonally adjusted, 1990–2017
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS13025703.
Percent unemployed 27 weeks and over
16. 16 — U.S. BUREAU OF LABOR STATISTICS • bls.gov16 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 13. Reasons for unemployment
Seasonally adjusted, 1990–2017
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS13023621&series_id=LNS13023705&series_id=LNS13023557&series_id=LNS13023569.
Job losers
New entrants
Job leavers
Reentrants
Numbers in thousands
17. 17 — U.S. BUREAU OF LABOR STATISTICS • bls.gov17 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 14. Job losers by layoff status
Seasonally adjusted, 1990–2017
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS13025699&series_id=LNS13023653.
Not on temporary layoff
On temporary layoff
18. 18 — U.S. BUREAU OF LABOR STATISTICS • bls.gov18 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 15. Unemployment rates for adult men, adult
women, and teenagers
Seasonally adjusted, 1990–2017
0.0
5.0
10.0
15.0
20.0
25.0
30.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0.0
5.0
10.0
15.0
20.0
25.0
30.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS14000025&series_id=LNS14000026&series_id=LNS14000012.
Adult men
(20 years and over)
Teenagers (16 to 19 years)
Adult women
(20 years and over)
19. 19 — U.S. BUREAU OF LABOR STATISTICS • bls.gov19 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 16. Unemployment rates by race and Hispanic or
Latino ethnicity
Seasonally adjusted, 1990–2017
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Persons of
Hispanic or Latino ethnicity could be of any race. Seasonally adjusted data for Asians are not available before 2003. Data online
at https://data.bls.gov/timeseries/LNS14000003&series_id=LNS14000006&series_id=LNS14032183&series_id=LNS14000009.
Whites
Hispanics
or Latinos
Blacks or African
Americans
Asians
20. 20 — U.S. BUREAU OF LABOR STATISTICS • bls.gov20 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 17. Unemployment rates for persons 25 years and
older by educational attainment
Seasonally adjusted, 1992–2017
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS14027659&series_id=LNS14027660&series_id=LNS14027689&series_id=LNS14027662.
Some college
or associate
degree
High school
graduates,
no college
Bachelor’s degree and higher
Less than a high
school diploma
21. 21 — U.S. BUREAU OF LABOR STATISTICS • bls.gov21 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 18. Persons not in the labor force who want a job
Seasonally adjusted, 1994–2017
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNS15026639.
22. 22 — U.S. BUREAU OF LABOR STATISTICS • bls.gov22 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 19. Persons not in the labor force, selected indicators
Not seasonally adjusted, 1994–2017
0
500
1,000
1,500
2,000
2,500
3,000
1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0
500
1,000
1,500
2,000
2,500
3,000
Numbers in thousands
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data online at
https://data.bls.gov/timeseries/LNU05026642&series_id=LNU05026645.
Discouraged
Marginally attached
23. 23 — U.S. BUREAU OF LABOR STATISTICS • bls.gov23 — U.S. BUREAU OF LABOR STATISTICS • bls.gov/cps
Chart 20. Alternative measures of labor underutilization
Seasonally adjusted, 1994–2017
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Percent
Note: Shaded areas represent recessions as determined by the National Bureau of Economic Research (NBER). Data onlineat
https://data.bls.gov/timeseries/LNS13025670&series_id=LNS14023621&series_id=LNS14000000&series_id=LNS13327707 and
at https://data.bls.gov/timeseries/LNS13327708&series_id=LNS13327709.
.
U-4
U-1
U-2
U-6
U-3
Unemployment rate
U-5
U-6
U-5
U-3
U-4
U-2
U-1