The three-month average job creation is 541,000. That would be great in a normal recovery, but it is far from the kind of explosive surge many (me included!) have been expecting. At this rate, we’re 14 months away from filling the hole.
6 minutes ago
Job growth picked up in May, but was still weaker than in March. The big picture: we’re still down 7.6 million jobs from before the pandemic.
8 minutes ago
The Fed was hoping for a “string” of million-ish jobs numbers. They are having to settle for something a lot more lackluster.
9 minutes ago
Put it all together, and this is an economy that is healing, but not with the kind of robust, hot vaccine summer boom that I had expected before the April jobs report.
9 minutes ago
The labor force participation rate actually edged down. That is consistent with the story that people are holding back, not re-entering the workforce en masse despite the economy re-opening.
10 minutes ago
Unemployment rate fell for “good” reasons in that employment was up, unemployment was down. But labor force was basically flat (actually down slightly), which will add fuel to “labor shortage” concerns.
13 minutes ago
Headline job gains were super close to consensus, labor force participation was little changed, and the number of people who are working part time for economic reasons was stable. Whatever you thought about the job market yesterday is unlikely to change too much on this report.
16 minutes ago
The unemployment rate fell for “good” reasons in that employment was up, unemployment was down. But labor force was basically flat (actually down slightly), which will add fuel to “labor shortage” concerns.
17 minutes ago
The revision to April jobs growth is only up 278,000. Nothing special — I suspected we might see a much bigger upward revision.
19 minutes ago
U.S. employers added 559,000 jobs in May. The unemployment rate fell to 5.8%.