Unemployment Rate

July 5, 2024 The unemployment rate rose 0.1% in June to 4.1% ((4.054%) after increasing 0.1% in May to 4.0% after having risen 0.1% in April to 4.0%.  In June  the labor force rose by 277 thousand..  Employment increased 116 thousand.  As a result, the number of...

Nonfarm Workweek

July 5 2024 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 206 thousand in June.   At the same time the nonfarm workweek was unchanged...

Average Hourly Earnings

July 5, 2024 Average  hourly earnings rose 0.3% in June to $35.00 after having gained 0.4% in May and 0.2% in April.  Earnings growth continues to slow from 5.5% at the beginning of  last year to 3.9% currently.  Presumably, the flood of workers from Latin America...

Average Duration of Unemployment

July 5, 2024 The average duration of unemployment fell 0.5 week in June to 20.7 weeks after having risen 1.3 weeks in May.  Its current level is roughly where it was prior to the recession in early 2020.  After declining slowly for more than one year, it has flattened...

ADP Employment

July 3, 2024 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...