Initial Unemployment Claims

May 21, 2020 Initial unemployment claims for the week of May 16 fell 249 thousand to 2,438 thousand.  Unfortunately, that is still a very large number of people.   In the past 9 weeks 38.6 million Americans have lost their jobs.   Clearly, the measures put into place...

Unemployment vs. Job Openings

May 18, 2020 .The  Labor Department reported that job openings declined 11.6% in March to 6,191 thousand but that is still an elevated level.  The April data should bring with it a much sharper drop in job openings to perhaps the 3,000 mark. As shown in the chart...

Private Employment

May 8, 2020 .Payroll employment plunged by 19,520 jobs in April after having declined 842 thousand in March. Given the sharp drop in employment beginning in March and continuing into April, the National Bureau of Economic Research will probably conclude that the...

Payroll Employment

May 8, 2020 Payroll employment plunged by 20,500 jobs in April after having declined 870 thousand in March. Given the sharp drop in employment beginning in March and continuing into April, the National Bureau of Economic Research will probably conclude that the...

Unemployment Rate

May 8, 2020 The unemployment rate jumped 10.3 percentage points from 4.4% to 14.7% in April after having rise 0.9% in March.  The labor force fell 6,432 thousand in April as many workers who lost jobs gave up looking for another one because they knew it was unlikely...

Nonfarm Workweek

May 8, 2020 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 for March fell 701 thousand as restaurants and bars closed, retail jobs declined, doctors and...