Another mediocre report on the labor market. The headline payroll number grew 148,000 in September, which was below consensus expectations. Revisions to prior months added 9,000, but all due to government; including revisions, private payrolls were up a tepid 108,000 in September. Civilian ...
Looking at July's Labor Report
The labor market in July had some good data, some soft data, and some numbers right in the middle. The best news was that the unemployment rate dropped to 7.4 percent, the lowest since December 2008. Civilian employment, an alternative measure of ...
Ignore the Topline GDP Number
As we wrote last week: ignore the GDP headline, which was likely to be weak, but misleading.
As it turns out, the headline was even weaker than we thought, coming in (slightly) negative for the first time since 2009 and lower ...
The Plow Horse Economy Keeps Moving Forward
Something for everyone in today’s jobs report. Data that was weaker than the consensus expected (the payroll report) had strong details, while data that was stronger than expected (the unemployment rate) had weak details.
Nonfarm payrolls increased 169,000 in August ...
Steady Growth in Jobs, So Look for Fed Tapering Soon
The labor market continues to move forward at a steady pace. Nonfarm payrolls increased 175,000 in May, while private-sector payrolls grew by 178,000. Meanwhile, civilian employment, an alternative measure of jobs that includes small-business start-ups, rose 319,000.
Although the unemployment rate ticked up ...
Jobs Report: Just What Was Expected
The headlines for today’s employment report were almost exactly what the consensus expected, showing continued modest improvement in the labor market. The details in the report were better news.
Overall nonfarm payrolls rose 155,000 in December, in line with an ...