The Latest

A Mixed Jobs Report

Something for everyone in today’s report. Nonfarm payrolls increased a tepid 113,000 in January, the second straight month with payroll gains noticeably under consensus expectations. Private-sector gains were a healthier ...

The Jobs Recovery Isn’t Over

The labor market surprised to the downside in December, with slower growth in payrolls, a decline in total hours worked, and only a small increase in wages that likely lagged ...

A Mediocre Jobs Report

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 ...

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 ...

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 ...

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 ...

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 ...