While many were expecting a potential downside surprise due to the ‘residual seasonality’ of August payrolls (discussed previously), moments ago the BLS reported that after a weaker than expected July (which was revised lower from 170K to 153K), August payrolls came in strong than expected at 201K, above the 191K consensus estimate. The revisions were […]
ADP Private Payrolls: 219,000 Jobs Gained, 23,000 More Manufacturing Jobs…
The ADP national employment report is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of companies served by ADP. The report measures approximately 24 million U.S. workers along with employment trends in collaboration with Moody’s Analytics. For July 2018, ADP has calculated payroll increases of […]
Jobless Claims Fall to the Lowest Level Since 1969…
New claims for unemployment benefits fell 8,000 to 207,000 in the second week of July, the Department of Labor reported Thursday morning, the lowest such number since 1969. Forecasters had expected new jobless claims to edge up to around 220,000. Instead, fewer people sought unemployment insurance than anytime in 48 years. Thursday’s benchmark is especially […]
Pelosi: ‘Strong Employment Numbers Mean Little’…
The Trump economy is booming, but that’s not good enough for Nancy Pelosi. The May unemployment rate was a stunningly low 3.8 percent, according to the Wall Street Journal. Black unemployment is the lowest ever: 5.9 percent, the Washington Examiner reports. But instead of celebrating the incredible economic activity, the House Speaker wannabe shrugged. “May’s […]
223,000 Jobs Added in May, Unemployment Falls to 3.8 Percent…
The Department of Labor reported Friday 223,000 jobs were added in the month of May, and unemployment dropped to 3.8 percent. Jobs growth outpaced economists’ predictions, who estimated the number would fall just short of 200,000. Experts were also expecting the unemployment rate to stay steady from month to month at 3.9 percent. May’s unemployment […]
Black Unemployment Rate Hits New Record Low in May…
Unemployment Ties Lowest Level in Nearly 50 Years…
‘X’ Marks the Spot Where Inequality Took Root: Dig Here…
In 2002, I heard an economist characterizing this figure as containing a valuable economic insight. He wasn’t sure what the insight was. I have my own answer. The economist talked of the figure as a sort of treasure map, which would lead us to the insight. “X” marks the spot. Dig here. The graphic below […]
It’s Official: Economy Grew at a 2.9 Percent Rate to End 2017…
The economy grew at a 2.9 percent annual rate to end 2017, the Bureau of Economic Analysis reported Wednesday in its final update to its estimate of Gross Domestic Product. That figure was revised up from 2.5 percent in the second estimate of GDP, thanks to better consumer spending and higher business investment in inventories […]
The Uber Crash Is Just the Start: How the Gig Economy Threatens the Future of Work …
Uber, the embodiment of the sharing economy, was once again propelled into the spotlight on March 19, 2018, after one of its self-driving cars struck and killed a pedestrian in Arizona. This has resulted in renewed debate over the safety of Uber’s driverless cars, as well as over its illegal and unethical tactics of skirting […]
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