Jumpin’ ju-ju bones, the October jobs report has blown away all expectations in every possible metric. It’s not just the top-line job gains, the two month revisions are huge. The Bureau of Labor Statistics (BLS) report for October shows 128,000 job gains; and that number includes absorption for negative impacts due to -20,000 census workers […]
Americans Spent More on Taxes in 2018 Than on Food, Clothing and Health Care Combined…
Americans on average spent more on taxes in 2018 than they did on the basic necessities of food, clothing and health care combined, according to the Bureau of Labor Statistics Consumer Expenditure Survey. The survey’s recently published Table R-1 for 2018 lists the average “detailed expenditures” of what the BLS calls “consumer units.” “Consumer units,” […]
Best “Recession” Ever – MAGAnomics: Inflation 1.7%, Wage Growth +3.5%, Real Worker Earnings +1.8%…
A series of very strong internal economic evaluations today from the Bureau of Labor Statistics (BLS) and the U.S. Department of Labor (DOL) show the Main Street economy is perfectly positioned with maximum benefit to the U.S. middle-class. First, despite two years of doomsayer predictions from Wall Street’s professional punditry, saying Trump tariffs on China […]
Hiring Hits Series High, Job Openings Beat Forecast…
The Bureau of Labor Statistics (BLS) JOLTS report beat expectations, with the hiring hitting a series high and a number of job openings rising to 7.449 million on the last business day of April. The consensus forecast was looking for an even 7.4 million. Hires increased slightly to a new high at 5.9 million, and […]
Black Unemployment Rate Falls In November, Ties Record Low…
Unemployment amongst black Americans fell in November to 5.9 percent, tying a record low. Meanwhile, the national unemployment rate stood unchanged at 3.7 percent, according to Bureau of Labor Statistics data. While the unemployment picture for black Americans is still higher than other demographic groups, it had never fallen below 7 percent since the Bureau […]
November Payrolls Jump 228K, Beat Expectations But Wage Growth Disappoints…
In a continuation of the recent theme shown by the labor market, the BLS reported that November payrolls rose by a seasonally adjusted 228K, beating expectations of 200K, if lower than October’s downward revised 244K (from 261K) while September was revised up from +18,000 to +38,000. With these revisions, employment gains in September and October […]