Reader JohnH notes that real wages year-on-year have fallen in July, as reported in the real earnings report. In times of big movements in variables, I find it useful to look at the actual time series.
Category Archives: employment
Perspective on the Employment Release
Some observations: (1) The blockbuster number (943 K vs 870K fm Bloomberg consensus) has to be kept in perspective, as NFP employment is far below trend, (2) high contact intensive services employment was recovering quickly through the reference period before the delta variant surge, (3) both average nominal wages and aggregate hours continued to rise, and (4) average real wages likely stabilized in July, at about 1.5% above 2016-19 trend.
The Pace of Employment Growth in States Cutting UI Benefits
Is slower than for those that didn’t. From Steve Englander/Standard Charter Bank:
Labor Shortages in a Neoclassical Framework
I keep on seeing organizations like the Wisconsin Manufacturers and Commerce Association cry about worker shortages, as here:
Wisconsin Manufacturing Employment and Manufactured Exports
Does Wisconsin’s fortunes — as a manufacturing heavy state — depend on what happens in the rest-of-the world? The answer is, partly, yes…
Wisconsin Employment in June 2021: Halting Growth Continues
Employment numbers for June were released for today.
Guest Contribution: “How far to full employment?”
Today, we are fortunate to present a guest contribution written by Paweł Skrzypczyński, economist at the National Bank of Poland. The views expressed herein are those of the author and should not be attributed to the National Bank of Poland.
The Employment Release and Business Cycle Indicators
850K was the headline NFP number today. Just a reminder that, while a surprise on the upside (150K over Bloomberg consensus of just yesterday), employment is still down 4.4% relative to NBER peak.
Wisconsin Economic Activity in May
Employment numbers for May were released for today.
Employment Release and Business Cycle Indicators
Employment figures were released today, showing continued growth. In the context of key macro indicators followed by the NBER Business Cycle Dating Committee: