Unemployment Rate

February 3, 2023 The unemployment rate fell 0.1% in Janury to 3.4% after having declined 0.1% in December.  In January the labor force jumped by 866 thousand.  Employment jumped by 894 thousand.   As a result, the number of unemployed workers fell by 28 thousand and...

Nonfarm Workweek

February 3, 2023 * 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 climbed by 517 thousand in January..  At the same time firms chose to work...

Average Duration of Unemployment

February 3, 20223 The average duration of unemployment rose 0.9 week in January to 20.4 weeks after having declined 1.9 weeks in December  Its current level if roughly where it was prior to the recession in early 2020.  After declining slowly for more than one year,...

Initial Unemployment Claims

February 2, 2023 Initial unemployment claims fell 3 thousand in the week ending January28 to 183 thousand after having declined 6 thousand in the previous week.  Thus far, in the face of rising interest rates and the fear of a recession, employers are reluctant to lay...