Among mounting signs of recovery from the pandemic and recession, it’s taking longer for out-of-work members of the labor force to find employment. It now takes almost 30 weeks on average to find a job, with a median of more than 19 weeks. … READ MORE >
unemployment
May employment report: Job gains accelerate, adding 559,000
The American labor market showed improved signs of life in May, adding 559,000 jobs along with an upward revision that added 27,000 jobs to the April figure, which now stands at 586,000. In many respects, this a Goldilocks number — not too hot and not too cold. … READ MORE >
Initial jobless claims fall to pandemic low of 385,000
As the American economy moves toward its full capacity to produce, the labor market continues to improve. First-time jobless claims fell to a fresh pandemic low of 385,000 for the week ending May 29, according to government data released on Thursday. … READ MORE >
May jobs report preview: Seasonal adjustment challenges amid strong growth
We expect total employment to increase by 615,000 jobs when the jobs report for May is released on Friday, with the possibility of a strong month of growth because of what are diminished seasonal effects. … READ MORE >
Initial jobless claims set a new pandemic low
First-time jobless claims for the week ending May 22 declined to 406,000, a new pandemic-era low, putting them on track to breach the 400,000 level in the coming weeks and return to levels not seen since before the pandemic. … READ MORE >
CHART OF THE DAY: First-time jobless claims continue to decline
First-time jobless claims continued their downward march for the week ending May 15, falling to 444,000, as new filings for federal Pandemic Unemployment Assistance declined to 95,086. … READ MORE >
CHART OF THE DAY: Unemployment insurance claims continue to fall
First-time claims for unemployment insurance benefits continue to move in the right direction, falling during the week ending May 8 to 473,000, or a drop of 34,000 in seasonally adjusted terms. … READ MORE >
CHART OF THE DAY: Estimating unemployment during the pandemic
Friday’s headline U3 unemployment rate of 6.1% for April is probably an undercount of the number of out-of-work people in the United States, not by design, but by the peculiar circumstances of the pandemic. … READ MORE >
U.S. employment report: Economy added a disappointing 266,000 jobs in April
An easing of commercial restrictions, mass vaccinations and pent-up demand racing ahead of the overall reopening of the economy bolstered hiring in April to the tune of 266,000 jobs as the unemployment rate increased to 6.1%, according to government data released Friday. … READ MORE >
Jobless claims: More good news from the labor market
First-time jobless claims declined to 498,000 for the week of May 1 from an upwardly revised 590,000 during the previous week as continuing claims remained elevated at 3.69 million, according to government data released Thursday. … READ MORE >