Tag Archive for ‘labor market’

The Employment Situation in January – Status Quo Good

The Bureau of Labor Statistics (BLS) released its Employment Situation report for January including the standard annual revisions to earlier years. The revisions include benchmarking payroll employment counts to reflect more comprehensive counts, affecting data from April 2015 forward, and updated seasonal adjustment factors, affecting data from January 2012 forward. Historical data from the household survey is not revised but… Read More ›

The Employment Situation in December – Good Enough

The Bureau of Labor Statistics (BLS) reported payroll employment rose by 156 thousand in December and revisions to estimates for the prior two months were mixed but added a net 19 thousand. The unemployment rate rose to 4.7% from 4.6% in November, an increase that barely escaped rounding error magnitude. Average hourly earnings rose 2.9% over the year. A broader… Read More ›

The Employment Situation in November – Step Two

Steady payroll gains, a drop in the unemployment rate, decent wage gains. The stage is set for the Federal Reserve to take a second step on the path to monetary policy normalization at the upcoming December meeting. The Bureau of Labor Statistics (BLS) reported payroll employment rose by 178 thousand in November and revisions to estimates for the prior two… Read More ›

The Employment Situation in October – No Surprise

The labor market report for October showed steady gains in payroll employment, little change in the unemployment rate and a slight acceleration in wage gains. No surprises. The Bureau of Labor Statistics (BLS) reported payroll employment rose by 161 thousand in October and upward revisions added 44 thousand to estimates for the prior two months. Payroll gains have averaged 176… Read More ›

The Employment Situation in September – Solid, But Still Working On It

The Bureau of Labor Statistics (BLS) reported payroll employment rose by 156 thousand in September and the unemployment rate inched up to 5.0%. Payrolls for the prior two months were revised in opposite directions with a net reduction of seven thousand. Payroll growth edged down and the unemployment rate edged up but the employment situation in September is better than… Read More ›

FOMC Statement: All Eyes on December

The statement released following the September meeting of the Federal Open Market Committee (FOMC) fell in line with market expectations as the committee chose to keep the federal funds rate unchanged.  The Committee’s assessment of the economy remained positive, leaving a December rate hike very much in play.  In the statement, the Committee continued its upbeat assessment of labor and economic activity…. Read More ›

Job Openings Rise in Construction

The count of unfilled jobs in the overall construction sector rose in June after setting a post-Great Recession high in March. However, the rate of jobs being added to the residential construction sector has slowed noticeably over the last few months suggesting ongoing labor access issues. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a… Read More ›

The Employment Situation in June – Back On Track

The labor market report for June is a refreshing tonic after last month’s discomfort. The Bureau of Labor Statistics (BLS) reported payroll employment growth rebounded in June, expanding by 287 thousand after an unnervingly weak May. Gains in the information sector were boosted by the return of roughly 40 thousand Verizon workers who had been out on strike in May…. Read More ›