Is the Labor Market “Normalizing?” What Even Is “Normal?” by Wolf Richter • Sep 4, 2024 • 60 Comments Fewer quits and historically low layoffs & discharges mean fewer job openings, and less hiring to fill them. But that’s only part of it.
Nonfarm Job Creation for 12 Months through March Revised Down by 818,000, to 2.08 Million Jobs Created, from 2.90 Million by Wolf Richter • Aug 21, 2024 • 90 Comments 173,500 payroll jobs added on average per month in 12 months, instead of 242,000, but above 2018-2019 average of 171,900: preliminary annual benchmark revisions.
Despite the Recession-Emergency-Rate-Cut Buffoonery, the Services Sector Expands Strongly on Growth in New Orders & Employment. Inflation Pressures Still On by Wolf Richter • Aug 5, 2024 • 95 Comments What a bummer. Services are two-thirds of the economy; as long as they’re firm, the economy will plug along just fine, even as manufacturing stalled.
Growth in Jobs Slows to 2017-2019 Pace, Unemployment Rate Rises as Massive Wave of Immigrants Is Absorbed More Slowly by Wolf Richter • Aug 2, 2024 • 131 Comments Wage growth slows to normal-ish rate.
Job Growth Back to Normal Pre-Covid Pace, Wage Growth Still Higher: Longer-Term Employment Trends by Industry by Wolf Richter • Jul 5, 2024 • 50 Comments Huge undercount of immigrants since 2022 messes up employment data in the household survey.
The Desire to Be “Your Own Boss” in America by Wolf Richter • Jun 9, 2024 • 124 Comments “You can’t always get what you want… but if you try sometimes, well, you might find, you get what you need…”: The Rolling Stones
Longer-Term Trends of Employment by Industry Category by Wolf Richter • Jun 8, 2024 • 53 Comments New highs in employment: Construction, Professional & Business Services, Healthcare, Wholesale trade. Declines in Information.
A Jobs Report You’d Expect from an Economy Humming along in an Inflationary Environment by Wolf Richter • Jun 7, 2024 • 95 Comments Three-month averages have been steadfast: higher-than-normal job creation and wage increases.
This Labor Market Is Still Tight, Just Not as Crazy-Tight as it Was by Wolf Richter • Jun 4, 2024 • 52 Comments Layoffs & Discharges drop further, and are far lower than before the pandemic, as employers cling to their workers.
Remember Headlines 2 Weeks Ago, Labor Market “Suddenly” Weakens as Unemployment Claims “Spike”: It just Got Unwound by Wolf Richter • May 23, 2024 • 78 Comments Our Favorite Recession Indicator shows next recession keeps moving further out.
