📰 BLS News Release📰 Happy Friday! Before we officially close out the week there’s time for one more report! This morning the Bureau of Labor Statistics released The Employment Situation Report of May 2024. Here are the key highlights from May: 1) Unemployment Rate- This past month we saw the unemployment rate inch up just to 4.0%, representing 6.6 million unemployed people A. Refer to BLS chart 1 to see the change over time from May 2022 2) Household Survey Data A. Long-term unemployed (20.7% of unemployed persons) B. Labor force participation rate (62.5%) C. Employment-population ratio (60.1%) D. Number of persons not in labor force, currently searching (5.7 million) 3) Establishment Survey Results A. Nonfarm payroll employment increase by 272,000 in May. B. Healthcare industry job growth (+68,000) C. Government employment increase (+43,000) D. Leisure and hospitality (+42,000) E. Professional, Scientific, and Technical Services (+32,000) F. Social Assistance (+15,000) G. Retail Trade (+13,000) The unemployment rate has reached 4.0%, this is the highest it has been since the start of 2022. May did not bring any significant changes to the categories represented in the household survey data. However, the establishment survey showed us higher than anticipated increase of nonfarm jobs for May, a huge increase from April and the estimated numbers. For more detailed information, we encourage you to read the full report at Employment Situation - 2024 M05 Results (bls.gov)
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📊 Just In: The U.S. Bureau of Labor Statistics has released the Employment Situation Summary for July 2023. Nonfarm payroll employment increased by 187,000 jobs, while the unemployment rate held steady at 3.5%. Industries like health care, social assistance, financial activities, and wholesale trade saw notable job gains. The statistics reveal stability in the labor market, with unemployment rates for various demographics showing little change. For more insights and detailed data, check out the official report at www.bls.gov. #EmploymentData #LaborMarketInsights
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📊 The latest Employment Situation Summary has been released! Here's a snapshot of the key insights for September 2023: 📈 Total nonfarm payroll employment saw a significant rise by 336,000, showcasing growth in various sectors including leisure, government, health care, and more. 🧑💼 Unemployment rate remained steady at 3.8%, with minor fluctuations among different demographic groups. 🌟 Notable job gains occurred in leisure and hospitality, reflecting a positive trend towards economic recovery. Stay informed and stay empowered in navigating the job landscape! For more detailed insights, check out the full report from the U.S. Bureau of Labor Statistics. https://lnkd.in/gyHpj-HH #EmploymentTrends #JobMarket #EconomicInsights #BLSData
Employment Situation Summary
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Investor and finance professor who is passionate about AI, Machine Learning, and futurism. All posts I made here represent my personal view, not the view of my past, current, or future employer.
The June employment report shows another truly disappointing trend. The government added more than 70,000 jobs. The healthcare sector added another 49,000 (though 20,000 lower than the previous month's numbers). Social services and construction combined for another 59,000 jobs. Why are these numbers awful? The economy is fueled by consumer spending. The two sectors that proxy for consumer spending are retail trade (-9,000) and professional and business services (-17,000). What's more troubling? The labor force increased by about 1 million workers since last June. Yet, the economy is supposed to have added over 3.5 million jobs. But, the unemployment rate went up by 0.5% of the labor force, while the labor participation rate remained unchanged! The total labor force in June 2023 was 167 million. If the unemployment rate has gone up by 0.5%, it would mean that about 835,000 people became unemployed over the last year. If you add 3,500,000 to 835,000, you get 4,335,000 increases in the labor force. The official number provided by the BLS is an increase of about 1,000,000 (from 167,000,000 to 168,000,009). Where's the missing 3,335,000 people?!? But wait, there's more! The duration of those unemployed has gone up across the board! Those who have been unemployed for more than 27 weeks went up by 400,000! The labor market is a lagging indicator of the economy. The Fed has done enough damage to the economy for many months now. This report is absolutely horrifying to read. #economy #fedpolicy #unemployemnt #junejobreport #useconomy https://lnkd.in/dc78eak5
The Employment Situation - June 2024
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Another absolute horrible monthly jobs and unemployment report was released by the US Bureau of Labor Statistics this morning for May 2024. Sure, the headline of the news release touts +272,000 more jobs in May than in April. But that is the "seasonally adjusted" establishment survey which counts people who hold two or more jobs as being two or more different workers. But to this +272,000 you have to made two modifications to get a more accurate number. In the last paragraph of the news release, posted at https://lnkd.in/gTfY-Z2D it admits that the prior two months' reports were revised to reduce jobs by -15,000 jobs. Then you have to go to the mythical Birth/Death Adjustment, posted at https://lnkd.in/g5yjzZQw and see that the BLS double counted +231,000 jobs in May 2024 simply because the US population was growing. So, if you take the +272.000 -15,000 -231,000 you end up with an alleged jobs increase of only +26,000. Because the population of the US is growing, a jobs increase that small should result it a higher unemployment rate. As for the unemployment rate, the third paragraph in the news release admits that it's at 4.0% in May 2024, which is higher than the 3.7% rate in May 2023. But the actual unemployment rate is even worse because the BLS is aggressively classifying unemployed people as no longer being in the labor force--hence they are no longer counted as unemployed. In January 2020, the BLS reported there were 95,216,000 people of working age not in the labor force. In today's report, that total had jumped to 100,516,000. But wait, there's more! If you look at the BLS Household Survey in Table A-1 at https://lnkd.in/gSEBHsj4 you will see that this reports that there were a loss of -408,000 people holding jobs in May 2024 compared to April 2024! Also, if you go to Table A-9 at https://lnkd.in/gviPaGAq and look at the "not seasonally adjusted" data (meaning the actual numbers), the number of people holding full-time jobs plunged -1,179,000 from May 2023 to May 2024, the number of part-time workers in that time frame increased by +1,518,000, and the number of people holding two or more jobs rose by +634,000. Today's labor Force Participation Rate of 62.5% is still below the 63.3% where it was in January 2020, indicating the US economy is still struggling to get back to pre-pandemic health. There are so many statistics in today's BLS report, other than the headline, that says the US economy is in a recession. When will the so-called "journalists" in the regular media start checking underlying data beyond the headline?
Employment Situation Summary
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According to the Bureau of Labor Statistics (BLS), the jobs report published for June Employment includes significant points: 📈 With a gain of 206,000 jobs, Total Nonfarm Payroll: Increased by 206,000. Government: +70,000 jobs. Health Care: +49,000 jobs. Social Assistance: +34,000 jobs. Construction: +27,000 jobs. Retail Trade: Slight decline, -9,000 jobs. Professional and Business Services: Slight decline, -17,000 jobs, with a notable drop in temporary help services by 49,000. Average Hourly Earnings: Up by 0.3% to $35.00; an annual increase of 3.9%. Workweek: Steady at 34.3 hours. 🔹 Revisions: April and May job gains were revised down by 111,000. Click on the link below to read the BLS June 2024 jobs report. https://lnkd.in/gKgamn4 Share your thoughts in the comment below. #EmploymentTrends #JobMarket #EconomicUpdate #BLS #LaborStatistics
The Employment Situation - June 2024
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U.S. Bureau of Labor Statistics (BLS) detailing employment data for April. The release presents statistics from two surveys: the household survey (measuring labor force status, unemployment, and demographics) and the establishment survey (measuring nonfarm employment, hours, and earnings by industry). Key points include: The unemployment rate remained relatively stable at 3.9% in April, with little change from the previous month. Total nonfarm payroll employment increased by 175,000 in April, with job gains in health care, social assistance, and transportation and warehousing. The labor force participation rate held steady at 62.7%, and the employment-population ratio was little changed at 60.2%. Average hourly earnings for all employees on private nonfarm payrolls increased by 7 cents, or 0.2%, to $34.75, with a 3.9% increase over the past 12 months. The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.3 hours. Revisions to previous months' employment data were also provided, with employment in February and March combined being 22,000 lower than previously reported.
Employment Situation Summary
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Jobs Friday Update 📊 U.S. Jobs Report: Key Insights for June 2024 Today’s Non-Farm Payrolls report has been released, providing a crucial look into the current state of the U.S. labor market. Here’s a quick breakdown of the key figures: 1. Non-Farm Employment Change: The U.S. economy added 272,000 jobs in May, significantly higher than the monthly average gain of 232,000 over the past year. This robust growth highlights strong employment trends across various sectors. 2. Unemployment Rate: The unemployment rate held steady at 4.0%, with little change in the number of unemployed persons, which remains at 6.6 million. 3. Sector Highlights: - Healthcare: Added 68,000 jobs, continuing its strong growth trend. - Government: Employment increased by 43,000. - Leisure and Hospitality: Continued to rebound with an addition of 42,000 jobs. - Professional and Technical Services: Also saw significant gains, reflecting a strong demand for skilled labor. Market Implications: This robust job growth suggests continued economic expansion and could influence Federal Reserve policy decisions in the coming months. Investors should monitor how this data impacts market sentiment and adjust their strategies accordingly. Stay informed with the latest market updates and insights. #JobsReport #Economy #Employment #LaborMarket #WalkerCapitalPartners Sources: - U.S. Bureau of Labor Statistics - https://lnkd.in/e8aFakB - FRED | Federal Reserve Bank of St. Louis - https://lnkd.in/gG_jnuxy
Employment Situation Summary
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The number of jobs added in the US (272,000) was more than economists expected in May (180,000); however, according to today's Bureau of Labor Statistics report, the unemployment rate edged up to 4% (from 3.9%). Most job gains were in the healthcare, government, and leisure and hospitality industries. The labor market's strength will make it even more challenging for the Fed to determine when to lower interest rates and by how much. https://lnkd.in/e8aFakB #visionretirement #economy #unemployment
Employment Situation Summary
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📰 #Jobnews => The December 2023 Bureau of Labor Statistics JOBS Report is out... U.S. "Total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent." (get your copy attached) 👇 My habit is to skim the report at first, quickly scrolling to the revisions of previous months. => "October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 26,000, from +199,000 to +173,000. With these revisions, employment in October and November combined is 71,000 lower than previously reported. So while the U.S. employment market remains strong, there are signs of slowing. Or, are there as we had a long holiday season 🤔 As always, provides more data points to my Doctoral research into the BLS' reporting and WHY we are in a rush to push bad data! What are your thoughts? Happy First Friday, Chris #jobsreport #employment #jobs #hiring #economy #friday
Employment Situation Summary
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As typical, today's Bureau of Labor Statistics monthly jobs and unemployment report headline contradicts the underlying data in the report. The headline only reports the "establishment survey" data which was +216,000 jobs. However, that ignores the decrease of -71,000 jobs in revisions to the prior two monthly reports It also did not ad to it the negative birth/death adjustment of -52,000 jobs. If you the 216,00, subtract 71,000, and add 52,000, you get an increase of only +197,000 jobs in December versus what was reported in November. One error in the establishment survey is that it counts someone working two jobs and two workers, not one. That means that this number will always overstate reality. However, the regular news media coverage is completely ignoring the "household survey," where the BLS counts the number of people who hold jobs. As you can see for yourself at the end of today's BLS news release in Table B, the number of people holding jobs in December fell by -683,000 from November! Go to https://lnkd.in/g9XMbhe3 When are the so-called journalists in the regular media going to actually look at the underlying data instead of merely quoting false headlines?
The Employment Situation - June 2024
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how to improve the job market? Do you have any suggestions?