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...

Job Openings

July 2, 2024 The  Labor Department reported that job openings rose 221 thousand in May to 8,140 thousand after declining 436 thousand in April  The pace of economic activity has remained solid and the labor market has softened very gradually.  Job openings have fallen...

Construction Spending

July 1, 2024 Construction spending (the green bars above) declined 0.1% in May after rising 0.3% April and 0.1% in March.  Construction spending climbed sharply for 16 consecutive months, but it has slowed considerably beginning in March of this year.  In the past 12...