Job Market Monitor
Economy
Job report in US (March 2021) – Employment rises by 916,000 and unemployment edges down to 6.0%
Total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in … Continue reading
Job Report in US (February 2021) – Employment rose by 379,000 and and unemployment little changed at 6.2 percent
Total nonfarm payroll employment rose by 379,000 in February, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic. In February, most of the job gains occurred in leisure and hospitality, with smaller gains in temporary help services, … Continue reading
Job Report in US (January 2021) – Employment changed little (+49,000) and unemployment to 6.3 percent
The unemployment rate fell by 0.4 percentage point to 6.3 percent in January, while nonfarm payroll employment changed little (+49,000), the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic and efforts to contain it. In January, notable job gains in professional and business services and in both … Continue reading
Productivity in US (Q4 2020) – Largest drop in 39 years
Nonfarm business sector labor productivity decreased 4.8 percent in the fourth quarter of 2020, the U.S. Bureau of Labor Statistics reported today, as output increased 5.3 percent and hours worked increased 10.7 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates, and show what the percent change would be if the … Continue reading
Job Recovery in US – At this rate of job growth, the economy is years away from a full recovery
On Friday, the Bureau of Labor Statistics (BLS) will release its latest jobs report on the state of the labor market for January 2021. The pandemic recession has caused immense damage to the health and economic well-being of millions of people for over 10 months. The economic pain easily extends to nearly 27 million workers in … Continue reading
Job Report in US (November 2020) – Employment rose by 245,000 and unemployment edged down to 6.7
Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However, … Continue reading
Job Report in Europe (Q3,2020) – Increased by 0.9% in both the euro area and in the EU
Employment growth in the euro area and EU The number of employed persons increased by 0.9% in both the euro area and in the EU in the third quarter of 2020, compared with the previous quarter. These were the strongest increases observed since time series started in 1995. In the second quarter of 2020, employment … Continue reading
Job Report in US (October 2020) – Employment rose by 638,000 and the unemployment declined by 1.0 percentage point to 6.9
Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, … Continue reading
Job Report in US (August 2020) – Employment rose by 1.4 million and unemployment fell to 8.4 percent
Total nonfarm payroll employment rose by 1.4 million in August, and the unemployment rate fell to 8.4 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In August, an increase … Continue reading
COVID-19 Downturn in UK – What can previous recessions tell us ?
Understanding what we can and cannot learn from previous recessions is important for the current downturn- there are some similarities, but also some marked distinctions. The starkest difference is the occurrence of a discrete, immediate lockdown of some sectors. This contrasts with the archetypical recession in which economic activity slows down continuously, as firms shut … Continue reading
Covid and Change in Payroll Employment by Sector in US – A chart
Chosen excerpts by Job Market Monitor. Read the whole story @ Hutchins Roundup: Student debt, consumer spending, and more
Job Market in Canada – Still has long way to go despite jobs bounce says CIBC’s Benjamin Tal
CIBC Deputy Chief Economist Benjamin Tal speaks with Financial Post’s Larysa Harapyn about the latest Canadian unemployment numbers, and what might happen as the government transitions CERB recipients into an updated EI program.
Job Report in Canada (July 2020) – Employment rose by 419,000 (+2.4%), within 1.3 million (-7.0%) of its pre-COVID February level
Employment continues to rebound in July From February to April, 5.5 million Canadian workers were affected by the COVID-19 economic shutdown. This included a drop in employment of 3.0 million and a COVID-related increase in absences from work of 2.5 million. Employment rose by 419,000 (+2.4%) in July, compared with 953,000 (+5.8%) in June. Combined with gains of 290,000 in May, this brought employment to within 1.3 million (-7.0%) of … Continue reading
Job Report in US (June 2020) – Employment rose by 4.8 million, still down nearly 14.7 million jobs since February, and unemployment rate declined to 11.1 percent
Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate declined to 11.1 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts … Continue reading
COVID and the Economy in US – CBO projects that over the 11-year horizon, cumulative real output will be $7.9 trillion lower
The two largest differences between the two forecasts result from the economic effects of the COVID-19 pandemic in reducing output and the legislation enacted between January and early May in response, which partly offsets that reduction. Real GDP The revised forecast for nominal GDP reflects a significant markdown in CBO’s projection of real (inflation-adjusted) production … Continue reading
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