The Real Economy Blog

jobs

Closer look at monthly jobs data shows the glass only half full

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The decade-long recovery from the Great Recession reveals some cracks in the glass. The monthly change in non-farm payrolls is closely followed by financial markets and is often the catalyst for outsized market moves. We say that because the payroll series is volatile, with a 1960-2020 average change of 184,000 jobs per month (when the economy is not in ... READ MORE >

November employment: a boomer of a jobs report

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Even after adjusting for striking GM workers returning to the workforce, labor market dynamics remain robust as the private sector generated 254,000 new jobs in November, fueled by a gain of 206,000 private service sector jobs. Total jobs gains in the month were 266,000; the unemployment rate was 3.5%, a 50-year low. This is the twenty-first month in a ... READ MORE >

October US employment report: solid trend in hiring continues

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The GM strike distorted the October U.S. employment report, resulting in a net gain of 128,000 in total jobs. Investors will hang an asterisk on the October report--42,000 jobs linked to the strike and a 17,000 job decline in census workers. But once the damage caused by the strike is excluded, it appears the economy generated close to 187,000 new jobs, ... READ MORE >

Hiring expected to slow in September jobs report

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The labor market is expected to continue to lose steam in September, with the total change in employment likely increasing by 115,000 jobs on the month, and the unemployment rate likely rising to 3.8%. Given the slowdown in domestic manufacturing activity and goods production, we note there is downside risk to our top line forecast when the report is ... READ MORE >

Health care jobs market remains tight, government data shows

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The Job Openings and Labor Turnover survey released by the government last week underscored continued tightness in the health care labor market through June. Health care organizations added 60,000 employees, after accounting for employee departures. Total job openings across the ecosystem increased by 10,000. Since 2014, total job openings in health care ... READ MORE >

US July employment report: “A Gentleman’s C”

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Downward revisions to the May and June estimate of total employment as well as a decline in total and aggregate hours worked cast a pall over a total change in July employment of 123,000 (164,000 top line less net downward revision of 41,000) and the unemployment rate that held steady at 3.7%. While job gains were solid in manufacturing, goods production, ... READ MORE >

When addressing nursing shortage, look to your own ranks first

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The market for skilled workers, administrators and support staff remains tight in U.S. health care as providers struggle to fill jobs, particularly critical roles such as nurses. The numbers have not appreciably improved since the last time I wrote about this topic: Total health care job openings have remained around 1.1 million to 1.2 million since December ... READ MORE >