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The June United States nonfarm job level declined by 125,000. The decrease reflected a 225,000 decrease in the number of temporary employees working on the 2010 Census. The government sector decrease was offset by a private–sector payroll employment increase of 83,000. The unemployment rate edged down from 9.7 to 9.5 percent. The unemployment rate . . . → Read More: The June Employment Situation The May labor market data are mostly disappointing, with 411 of the 431 thousand job gains due to temporary Census 2010 staff increases. The raw data indicate that April SAAR job growth was 2.7 percent and May was 4 percent. If we remove the temporary Census workers from the data, then the revised SAAR . . . → Read More: The May Employment Situation Oregon April non-farm jobs increased 3,900 over March. The April labor market update was posted by the Oregon Employment Department on Tuesday. This is the largest month-on-month increase since October 2007. Using the 3,900 jobs to calculate an annualized growth rate yields 3.0 percent, see the chart below. The 3,900 jobs gained comprised of . . . → Read More: The April Oregon Employment Situation April non-farm jobs rose by 290 thousand, greater than the consensus estimate of 200 thousand. This was an improvement over 230 thousand in March and 39 thousand in February, which were revised up from original press releases. At this rate of job improvement, year-on-year job growth will become positive in July, a welcome event . . . → Read More: The April Employment Situation The February United States jobs report sent the equity markets up this morning while respected commentators like Edmund Phelps, (Columbia, Economics Nobel in 2006), remark that they worry that the “recovery” might not have legs. It always a bit odd to discuss growth that is less negative but that is the situation we are . . . → Read More: The United States February Jobs Report |
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