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...

Construction Spending

February 1, 2023 . Construction spending (the green bars above) fell 0.4% in December after having risen 0.5% in November and being unchanged in October.   In the past 12 months it has risen 7.7%.  As indicated  below, spending on the construction of single-family...

Purchasing Managers Index

February 1, 2023 The Institute for Supply Management’s index of conditions in the manufacturing sector declined 1.0 point in January to 47.4 after declining  0.6 point in December and 1.2 points in November.  This series has been falling steadily since the end of last...