The major policy takeaway from the new report is that there has not been a dramatic acceleration in hiring, despite the top-line gain of 379,000 jobs. … READ MORE >
unemployment
February jobs preview: Winter doldrums ahead of a springtime rebound
We expect a total increase in employment of 105,000 jobs for February—with the unemployment rate holding steady at 6.3%—when the Labor Department releases its monthly data on Friday. … READ MORE >
Initial jobless claims: Only cold comfort for those out of work
Seasonal distortions caused a larger-than-expected decline in first-time jobless claims to 730,000 for the week ending Feb. 20, which significantly understates the true pace of first-time firings across the economy. … READ MORE >
Second wave of the pandemic devastates the Canadian labor market
The surge in coronavirus infections in Canada this winter has taken a heavy toll on the economy, which has only added to the urgency for a vaccine to be widely distributed. … READ MORE >
CHART OF THE DAY: Official unemployment number doesn’t tell full pandemic story
Friday’s headline January U3 (official) unemployment rate of 6.3% almost certainly undercounts the number of out-of-work people in the United States, not by design, but by the peculiar circumstances of the pandemic. Our estimate implies a real unemployment rate of 7.5%, which we acknowledge could be much higher — closer to 8.5%. … READ MORE >
U.S. employment report: A weak gain in jobs and a nonvirtuous decline in the jobless rate to 6.3%
The intense debate over whether there needs to be a large fiscal stimulus package was supplemented by a weak U.S. employment report for January that saw an anemic gain of 49,000 jobs while 406,000 people exited the workforce. … READ MORE >
Initial jobless claims declined to a still-elevated 779,000
First-time claims for jobless benefits declined to a still elevated 779,000 for the week ending Jan. 30, while continuing claims dropped to 4.592 million for the previous week, the Labor Department reported on Thursday. … READ MORE >
Employment report preview: Policy implications paramount following January data
We expect that the December employment downturn will be a one-month occurrence and that the January jobs data, to be released Friday, will show a gain of 190,000 and a decline in the unemployment rate to 6.6%. … READ MORE >
Fourth-quarter GDP: Growth eases as economy decelerates
The American economy posted 4% growth in the fourth quarter as the recovery from the depths of the pandemic decelerated into the end of 2020. … READ MORE >
First-time jobless claims remain elevated
Initial jobless claims declined to 900,000 for the week ending Jan. 16, down from 965,000 the week before but well above the pre-pandemic high established in 1982. … READ MORE >