Notes from the May 2024 Employment Report
- The U.S. economy added 272,000 jobs during May, the 41th straight month of gains, defying signs of a slowdown and smashing economists’ expectations.
- The unemployment rate rose slightly to 4.0%, although remained near 50-year lows. The rate has remained below 4% for more than two years.
- Both the labor force participation rate and the employment-population ratio were little changed.
Notes from the March 2024 Employment Report
Payroll Employment: +303,000
vs. +214,000 expected and +270,000 in February
Unemployment Rate: 3.8%
vs. 3.8% expected and 3.5% one year ago
Average Hourly Earnings, month-over-month: +0.3%
vs. +0.3% expected and +0.2% in February
Average hourly earnings, year-over-year: +4.1%
vs. +4.1% expected and +4.6% one year ago
Why There’s So Much Confusion Over Housing Inflation
Axios - March 5, 2024
“When January inflation numbers came in hot last month, one big reason was a spike in owner's equivalent rent (OER), but the uptick may have been largely driven by a change in statistical methodology that was revealed over the last week.”
https://www.axios.com/2024/03/05/housing-inflation-economy-government-oer
#RealEstate #CRE #CPI #Inflation #Shelter #Rent
#Axios #BLSdata
@realestate
Notes from the January 2024 Employment Report
Payroll Employment: +353,000
vs. +185,000 expected and +333,000 in December
Unemployment Rate: 3.7%
vs. 3.8% expected and 3.4% one year ago
Average Hourly Earnings, month-over-month: +0.6%
vs. +0.3% expected and +0.4% in December
Average hourly earnings, year-over-year: +4.5%
vs. +4.1% expected and +4.3% one year ago
One out of five workers teleworked in August 2023
U.S Bureau of Labor Statistics - September 29, 2023
“The telework rate — the number of people who teleworked or worked at home for pay as a percentage of people who were working — has been in the range of 17.9 percent to 20.0 percent between October 2022 and August 2023.”
https://www.bls.gov/opub/ted/2023/one-out-of-five-workers-teleworked-in-august-2023.htm
#RealEstate #CRE #RemoteWork #BLSdata
@realestate@a.gup.pe @realestate@chirp.social
Employment Situation Summary August 2023
Payroll Employment: +187,000
vs. +170,000 expected and +157,000 in July
Unemployment Rate: 3.8%
vs. 3.5% expected and 3.7% one year ago
Average Hourly Earnings, month-over-month: +0.2%
vs. +0.3% expected and +0.4% in July
Average hourly earnings, year-over-year: +4.3%
vs. +4.3% expected and +5.4% one year ago
Payroll Employment: +187,000
vs. +200,000 expected and +185,000 in June
Unemployment Rate: 3.5%
vs. 3.6% expected and 3.5% one year ago
Average Hourly Earnings, month-over-month: +0.4%
vs. +0.3% expected and +0.4% in June
Average hourly earnings, year-over-year: +4.4%
vs. +4.2% expected and +5.4% one year ago
Inflation eased further in June as economy slowly cools
The Washington Post - July 12, 2023
"Prices rose 3 percent in June compared with the year before, and 0.2 percent compared with May, the smallest 12-month increase since March 2021. That marked progress from the last inflation report, when prices rose 4 percent compared with the previous year."
https://www.washingtonpost.com/business/2023/07/12/june-cpi-inflation-report/
THE EMPLOYMENT SITUATION -- JUNE 2023
"Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction."
U.S. Bureau of Labor Statistics
Schedule of Selected Releases for June 2023
U.S. Bureau of Labor Statistics
Release Calendar - May 2023
March Jobs Report Shows Hiring Gradually Cooled
"Strong job gains at service businesses—including restaurants, hospitals and nursing homes—are helping offset cuts at large companies in industries such as technology, finance and entertainment.
Any impact from the failure of Silicon Valley Bank and subsequent financial turmoil won’t likely show up in March’s jobs data, which reflects hiring trends earlier in the month."
https://www.wsj.com/articles/march-jobs-report-unemployment-rate-economy-growth-2023-3338931f
Employment Situation Summary
March 2023
U.S. Bureau of Labor Statistics
Release Calendar - April 2023
CPI for all items rises 0.4% in February as shelter increases
https://www.bls.gov/news.release/cpi.nr0.htm
U.S. Bureau of Labor Statistics
Schedule for News Releases March 2023
CPI for all items rises 0.5% in
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5% in January on a seasonally adjusted basis, after increasing 0.1% in December. Over the last 12 months, the all items index increased 6.4%.
The index for shelter was by far the largest contributor to the monthly all items increase, accounting for nearly half of the monthly all items increase.
“The number of overall layoffs in December remained below levels experienced in any month in the nearly two decades of available data before pandemic. The number of workers quitting—usually a sign of people finding better work prospects elsewhere—was higher than at any point before the pandemic.”
https://www.wsj.com/articles/the-layoff-conundrum-11675966887
"Job gains had been steadily dropping for months, but January’s stunning job growth reflects unexpected tightness in the labor market that continues to grow jobs, even amid fears of a looming recession."
https://www.washingtonpost.com/business/2023/02/03/january-jobs-labor-market/
#BLSData #Employment #Unemployment
#TheWashingtonPost #laurenkgurley
Latest US jobs numbers:
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RT @BLS_gov
Payroll employment rises by 517,000 in January; unemployment rate changes little at 3.4% #BLSData https://www.bls.gov/news.release/empsit.nr0.htm
https://twitter.com/BLS_gov/status/1621501404039741441
