Unemployment Rate

September 3, 2021 The unemployment rate fell 0.2% in August to 5.2% after having declined  0.5% in July.  The labor force rose by 190 thousand in August.  Employment rose 509 thousand..  As a result, the number of unemployed workers fell by 318 thousand in August. ...

Nonfarm Workweek

September 3, 2021 In any given month employers can boost output by either additional hiring or by lengthening the number of  hours that their employees work.  Payroll employment rose by 243 thousand in August.  In addition to hiring people, businesses can also...

Average Duration of Unemployment

September 3, 2021 The average duration of unemployment rose 0.1 week in august to 29.6 weeks after having declined 2.1 weeks in July.  Many of the people that became unemployed in 2020 remain unemployed, but rapidly rising job gains in recent months is undoubtedly...

Nonfarm Productivity

September 2, 2021 Non-farm productivity rose 2.1% in the second quarter after rising 4.3% in the first quarter. The second quarter increase consisted of an 8.1% increase in output combined with a 6.0% increase in hours worked. Hence, a 2.1% increase  in productivity...

Unit Labor Costs

September 2, 2021 Unit labor costs might be a term that is not familiar to you.  Unit labor costs represent the increase in compensation adjusted for the gains in productivity.  You might think that if labor costs are rising that would put upward pressure on...