Job Market Monitor
US
Job Report in US, June 2019 – Employment increased by 224,000 and unemployment rate little changed at 3.7 percent
Total nonfarm payroll employment increased by 224,000 in June, and the unemployment rate was little changed at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, in health care, and in transportation and warehousing. Household Survey Data Both the unemployment rate, at 3.7 percent, and the number of unemployed persons, … Continue reading
Unemployment Insurance Weekly Claims in US, April 13 – Down at the lowest level for initial claims since September 6
In the week ending April 13, the advance figure for seasonally adjusted initial claims was 192,000, a decrease of 5,000 from the previous week’s revised level. This is the lowest level for initial claims since September 6, 1969 when it was 182,000. The previous week’s level was revised up by 1,000 from 196,000 to 197,000. … Continue reading
Business Cycles in US – NBER’s reference dates and duration
Chosen excerpts by Job Market Monitor. Read the whole story at US Business Cycle Expansions and Contractions
Weekly Jobless Claims in US (ending April 6) – The lowest level for initial claims since October 4, 1969
In the week ending April 6, the advance figure for seasonally adjusted initial claims was 196,000, a decrease of 8,000 from the previous week’s revised level. This is the lowest level for initial claims since October 4, 1969 when it was 193,000. The previous week’s level was revised up by 2,000 from 202,000 to 204,000. … Continue reading
Job Openings in US – At 11-month low
The number of job openings fell to 7.1 million on the last business day of February, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.7 million and 5.6 million, respectively. Within separations, the quits rate was unchanged at 2.3 percent and the layoffs and discharges rate was little … Continue reading
Older Workers Participation in US – Recent cohorts of women have been participating at higher rates than their predecessors early in life but lower rates in middle age but man …
Labor force participation is rising for older workers in the U.S.; therefore, while it is tempting to focus on prime-age workers to gauge the economy’s health to avoid demographic effects, doing so misses important shifts amongst those over 54 years old. Figures 1a and 1b (below) show labor force participation rates by gender, birth cohort, and age in five–year intervals. These figures describe both trends in labor force … Continue reading
Gig-Jobs in US – The rise is driven by earnings that are secondary and supplemental sources of income
New institutions and technologies have made it simpler for self-employed individuals to do work for firms and peers that could have previously only been done in an employment relationship. As a result, speculation has grown that traditional jobs in the United States will be replaced by “gig” or “freelance” work performed by self-employed workers acting … Continue reading
Job Report in US, March 2019 – Employment increased by 196,000 and unemployment unchanged at 3.8 percent
Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services. Household Survey Data The unemployment rate remained at 3.8 percent in March, and the number of … Continue reading
Unemployment in US – New series lows in Alabama (3.7 percent), North Dakota (2.4 percent), Tennessee (3.2 percent) and Vermont (2.4 percent)
Unemployment rates were lower in February in 4 states and stable in 46 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. Seven states had jobless rate decreases from a year earlier, 2 states had increases, and 41 states and the District had little or no change. The national unemployment … Continue reading
The Working-Class America – Arresting the decline and building bridges back to opportunity
The 2016 election put the plight of working-class America front and center in American politics. A long-neglected and largely forgotten voting bloc thought by many to be shrinking to the point of irrelevance suddenly mattered, nationally and in every state. But more important even than the political consequences, the campaign and what followed shone a … Continue reading
Immigrants and Immigration in US – How many and how have the number changed over time
How many immigrants reside in the United States? More than 44.5 million immigrants resided in the United States in 2017, the historical high since census records have been kept. One in seven U.S. residents is foreign born, according to 2017 American Community Survey (ACS) data. While immigrants’ current share—13.7 percent—of the overall U.S. population (325.7 … Continue reading
Job Openings in US – Increased to 7.6 Million in January with more of them than people unemployed for the eleventh consecutive month
In January there were 7.581 million job openings, and, according to the January Employment report, there were 6.535 million unemployed. So, for the eleventh consecutive month, there were more job openings than people unemployed. Also note that the number of job openings has exceeded the number of hires since January 2015 (4 years). Chosen excerpts … Continue reading
Immigrants in US – About 30 million of the 58 million immigrant-origin adults lack a post-secondary credential
The United States will face an estimated shortfall of 8 million workers between now and 2027, amid an aging U.S. workforce, the retirement of baby boomers and declining birth rates. At the same time, the nearly 58 million U.S. adults who are either immigrants or the children of immigrants are projected to be the primary … Continue reading
Job Report in US, February 2019 – A very weak month – total nonfarm payroll employment up by only 20,000
Total nonfarm payroll employment changed little in February (+20,000), and the unemployment rate declined to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment in professional and business services, health care, and wholesale trade continued to trend up, while construction employment decreased. Household Survey Data The unemployment rate declined by 0.2 percentage point … Continue reading
CBO’s 10-years Economic Outlook for US – The economy expands more slowly with debt on an unsustainable course
The Economy – In CBO’s economic forecast, which underlies its budget projections, the economy expands more slowly over the next decade than it did in 2018, averaging annual growth of 1.7 percent over the 2020– 2029 period. The slowdown begins in 2019 as the positive efects of recent tax legislation on business investment are expected … Continue reading
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