Lots of available jobs, still no higher wages

August 12, 2014

Job openings in the US economy are at a 13-year high. The monthly Job Openings and Labor Turnover Summary (JOLTS) report was released by the Bureau of Labor Statistics today. It shows there were  4.67 million job openings in the month of June, up just a tad from the 4.6 million openings reported in May — it’s now the highest the job openings figure has been since February 2001.

July jobs report: Stagnant wages

August 1, 2014

It’s Jobs Friday! This morning, the Bureau of Labor Statistics released data for non-farm payrolls for the month of July. The economy created 209,000 jobs last month and the unemployment rate ticked up to 6.2%. The headline number came in a bit under consensus (a Reuters poll of economists expected growth of 233,000), but was overall not a terrible number. The data today really preserves the status quo.

Did start-ups hold back the recovery?

July 8, 2014

When you say the word start-up, many people think of the wild proliferation of tech companies in Silicon Valley: Stanford grads sitting in a basement with their friends being offered obscene amounts of money for a mobile app that simply sends a one-word message to a user’s contacts. But economically speaking, a startup is any business that’s less than five years old and has fewer than 20 employees. And, tech bubble or not, start-ups in general have not done so well in the wake of the Great Recession.

Today’s jobs report in charts

July 3, 2014

Non-farm payrolls for June were released Thursday, and by most accounts this was a great month for job growth. The economy added 288,000 jobs, way more than the 215,000 that were expected. Reuters has a full live blog of the commentary that came out after the report. Here are some of the best charts from the blog:

Here’s why it’s so hard to land a job

June 25, 2014

Six years into the recovery, the American jobs situation is still in a rut. The relationship between how many people are looking for a job (the unemployment rate) and how many jobs are available (the jobs opening rate) has historically been predictable. Plotting it out in chart form gives you what is known as the Beveridge Curve, named after the British economist William Beveridge. The idea is that as the number of workers who are looking for a job rises — which to employers means the pool of talent for them to hire from gets bigger — the available jobs get filled and the opening rate goes down.

After six years, the US economy got its jobs back

June 6, 2014

“The scariest jobs chart ever”, which Bill McBride at Calculated Risk has been updating month by month for years, is finally ready to be retired.

America’s job market: still not good enough

By Ben Walsh
March 11, 2014

On Tuesday morning, the most recent Bureau of Labor Statistics Job Openings and Labor Turnover (JOLTs) data showed that the rate of hiring, turnover, and the number of open jobs was basically flat.

The terrible December jobs report

January 10, 2014

The jobs report is out today, and it’s weak. The economy added 74,000 jobs in December — the lowest growth the economy has seen since January 2011 and far below the expectation of 196,000. Because of people dropping out of the labor force, the unemployment rate dropped to 6.7% from 7.0% in November. Here’s Reuters’ chart of U.S. non-farm payrolls over the last year:

Fewer Americans are getting laid off, but not enough are getting hired

By Ben Walsh
November 21, 2013

The number of Americans filing new claims for unemployment benefits is at a two-month low, data released by the Labor Department this morning shows.  From the report:

America’s mediocre labor market recovery, in charts

October 22, 2013

Economists expected a gain of 180,000 jobs in September, while today’s Commerce Department data showed a gain of just 148,000 jobs. Here’s today’s disappointing results in chart form: