Census Bureau Massively Revises Up Population Growth: +8 Million in 3 Years, +3.3 Million Last Year, Largely due to Immigration. US Population Surges to 340 Million by Wolf Richter • Dec 19, 2024 • 121 Comments Total Employment to be substantially revised higher early 2025 when the BLS incorporates these up-revisions into its household survey employment data.
Housing Bubble & Bust #1 and #2 as Seen through Employment in Mortgage Lending by Wolf Richter • Dec 16, 2024 • 83 Comments Employment at nonbank mortgage lenders collapsed by 37% this time around, to the lowest level since 1997.
Labor Market Doing Fine. The Fed Can be “Careful” with Rate Cuts. Maybe Time for Some Wait-and-See? by Wolf Richter • Dec 6, 2024 • 73 Comments Payrolls & wages jump, prior 2 months revised higher, solid bounce-back from Hurricanes and Boeing strike. 3-month average payrolls +173,000!
Underlying Job Market Dynamics Begin to Retighten. The Fed Is Already Backpedaling on the Pace and Depth of Rate Cuts by Wolf Richter • Dec 3, 2024 • 99 Comments Job openings and voluntary quits jumped by the most in over a year, layoffs and discharges plunged.
Hurricanes Helene & Milton and the Boeing Strike Make Mess of Jobs Report. And Wages Surge by Wolf Richter • Nov 1, 2024 • 30 Comments Upon the data’s implications for inflation, the bond market puckered its lips: 10-year Treasury yield jumped to 4.35%, highest since early July.
Hiring Jumps for 3rd Month, Workers Cling to Jobs, Layoffs & Discharges Jump but Remain Low, Job Openings Fall by Wolf Richter • Oct 29, 2024 • 57 Comments Hurricanes in September & October and the Boeing strike will mess with labor market data for a few months; the Fed won’t get clear answers.
OK, Forget it, False Alarm, Labor Market Is Fine, Bad Stuff Last Month Was Revised Away, Wages Jumped. No More Rate Cuts Needed? by Wolf Richter • Oct 4, 2024 • 232 Comments Pandemic distortions and millions of migrants suddenly entering the labor market, who are hard to track, have wreaked havoc on data accuracy.
Balance of Power Changed, Employers Re-exert Control, but also Cling to their Workers by Wolf Richter • Oct 1, 2024 • 88 Comments Fewer workers quit (rattled by layoff headlines?), so fewer vacant slots to fill and less hiring. But actual layoffs are at historic lows.
Job Losses Pile Up at Tech & Social Media Companies in San Francisco & Silicon Valley after Reckless Hiring Frenzy by Wolf Richter • Sep 24, 2024 • 123 Comments A reckoning with budding parallels to the Dotcom Bubble & Bust, while other sectors continue to grow. Unemployment rate rose to 3.9%.
The Fed Has Room to Cut, Rates Are High Relative to Inflation, and Job Growth Could Use some Juicing Up by Wolf Richter • Sep 6, 2024 • 194 Comments Job growth bounces back some, hourly earnings jump, unemployment dips, but job growth is too slow to absorb the massive influx of immigrants.
