It has been said that if you can’t see the level and trend of the unemployment rate, the level and trend of this number are the next best thing to use to assess the strength, or weakness, of the labor market. The flattening of the declining trend of this series suggests that we might be […]

The rise in the unemployment rate in January appears to have been largely the result of the government shut down. But, the March drop in the rate was not the result of stronger labor market conditions. Rather, a decline in the labor force offset a decline in employment. That type of event happens with some […]

The jump we saw in January might have been a side effect of the government shut down, as supply chains were affected. But the recent absence of further improvement in the trend of this series is a concern. Slack work conditions are those where employees work fewer hours because their firms don’t have enough activity […]

The rise in part-time employment in the last recession was the most transformational event in the labor market since the entry of large numbers of women into the workforce. The high level of part-time employment is also largely responsible for the lethargic growth of wages and income. Any rebound in this series should be viewed […]

It is extremely important that we continue to see this series continue to move higher. Not only because downturn here are associated with recessions, but because full-time work is better compensated, which helps to support and promote rising consumer spending. Without a healthy consumer sector, it is difficult to attain and sustain high rates of […]