Monthly employment reports provide crucial snapshots of labor market health, but headline numbers often mask important underlying trends. We assess wage growth patterns to determine whether workers are receiving their fair share of economic growth, and analyze labor force participation rates to identify barriers to employment.
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What the data tells us to expect for Friday: * Interpreting nonfarm payroll employment numbers will be messy due to the benchmark revision: The BLS folds in more comprehensive data each February on job creation. That can be especially substantial at the sectoral level and recast what the true employment trajectory
New data from December shows a labor market that remains strong all-around even as wages have begun to decelerate. The unemployment rate ticked down from 3.6% to 3.5%, while prime-age employment increased from 79.7% to 80.1%. The establishment survey continued to show growing employment, but at
Dec 02, 2022
Overall the labor market data from November show a mixed picture, with the establishment survey showing resilience even as the household survey signaling a slowdown.
Friday's employment report is set to be messy for a number of reasons, not just because Omicron is likely to weigh somewhat heavily on nonfarm payroll estimates. At the risk of sounding like a broken record, your best bet to avoid getting spun around by all of the
