Unemployment Rate

by | Jan 10, 2025 | Employment, NumberNomics Notes

January 10, 2025 The unemployment rate declined 0.1% in December to 4.1% after having risen 0.1% in November.  In December the labor force rose 243 thousand..  Employment climbed by 478 thousand.  As a result, the number of unemployed workers fell 235 thousand and the...

Nonfarm Workweek

by | Jan 10, 2025 | Employment, NumberNomics Notes

January 10, 2025 In any given month employers can boost output by either additional hiring workers or by lengthening the number of  hours that their employees work.  Payroll employment rose by 246 thousand in December.   At the same time the nonfarm workweek was...

Average Hourly Earnings

by | Jan 10, 2025 | Employment, NumberNomics Notes

January 10, 2025 Average  hourly earnings rose 0.3% in December to $35.69 after  having climbed 0.4% in November.  Earnings growth has slowed from 4.3% at the end of  2023 to 3.9% in 2024.  The earlier decline in earnings appears to reflect the flood of workers from...

Average Duration of Unemployment

by | Jan 10, 2025 | Employment, NumberNomics Notes

January 10, 2025 The average duration of unemployment rose 0.1 week in December to 23.7 weeks after having jumped 0.7 week in November.   It appears that unemployment workers are having a somewhat more difficult time becoming reemployed. Stephen Slifer NumberNomics...

ADP Employment

by | Jan 8, 2025 | Employment, NumberNomics Notes

January 8, 2025 As shown above the ADP survey shows a respectable correlation with the private sector portion of the payroll employment data to be released a couple of days later.  And well it should.  ADP, or Automatic Data Processing, Inc. is a provider of...