Job Market Monitor
United States
An economy-wide labor shortage in US ?
Monthly job-growth over the past 3 months has averaged 540,000, a pace that would see the economy hit pre-covid measures of labor market health by the end of 2022. While recovery can’t come soon enough for U.S. workers, if we do hit this target of pre-COVID labor market health by the end of 2022 it … Continue reading
Covid and Unemployment in US – Education still matters
The first graph shows the unemployment rate by four levels of education (all groups are 25 years and older) through March 2021. Note: This is an update to a post from a few years ago. Unfortunately this data only goes back to 1992 and includes only three recessions (the stock / tech bust in 2001, … Continue reading
Work after Covid in US – Listening to Americans
In addition to the devastation the coronavirus pandemic has wrought in terms of lives lost, it has been one of the most economically disruptive crises in U.S. history. Among the most urgent concerns is the rising number of the long-term unemployed. In January 2021, four million Americans had been unemployed for six months or more, … Continue reading
COVID in US – Six facts about how the COVID-19 recession is affecting labor force participation and unemployment
Here are six facts about how the COVID-19 recession is affecting labor force participation and unemployment among American workers a year after its onset. Chosen excerpts by Job Market Monitor. Read the whole story @ A year into COVID-19, U.S. labor market recovery is far from complete | Pew Research Center
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
Minimum Wage in US – CBO on the impacts of a $15 per hour by June 2025 on the federal budget
If enacted at the end of March 2021, the Raise the Wage Act of 2021 (S. 53, as introduced on January 26, 2021) would raise the federal minimum wage, in annual increments, to $15 per hour by June 2025 and then adjust it to increase at the same rate as median hourly wages. In this … 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 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 (July 2020) – Employment rose by 1.8 million and the unemployment rate fell to 10.2 percent, up by 6.7 percentage points since February
Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 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 due to the coronavirus (COVID-19) pandemic and efforts to contain it. In … Continue reading
UI Claims in US (week ending June 27) – 1,427,000, a decrease of 55,000 from the previous week’s revised level
In the week ending June 27, the advance figure for seasonally adjusted initial claims was 1,427,000, a decrease of 55,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 1,480,000 to 1,482,000. The 4-week moving average was 1,503,750, a decrease of 117,500 from the previous week’s revised average. … 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
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