One of the things I think Bloomberg should own are the deep dive, finance related interactive graphics. They can cover economics, investing and business with the data and firepower to just crush this sort of work.

Here is the first example of what is hopefully the first of many crazy cool infographics:

 

click for awesome interactive infographic
what NFP means

Bloomberg View

Category: Data Analysis, Digital Media, Employment

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “What the Jobs Report Really Means”

  1. RW says:

    WOW! Now that’s some mega-serious chart porn; love it!

    Mark Thoma concurs and adds to the analysis.

    Explainer: How to tell if the job market is improving

    …to properly interpret a change in the unemployment rate, it’s important to know whether the change is due to a change in the proportion of people finding jobs or from a change in the labor force participation rate.

  2. catclub says:

    Excellent.

  3. willid3 says:

    cool!

  4. willid3 says:

    have seen some commentary that says most of the new jobs are in low wage jobs. which would fit with this

    http://www.reuters.com/article/2013/11/08/us-economy-consumer-idUSBRE9A70L720131108?feedType=RSS&feedName=PersonalFinance

    low wage jobs = low consumer spending growth

    not that this is really new either. its been going on fr a while now

    • See the part discussing Hospitality and health care replacing manufacturing and construction jobs

      • PrahaPartizan says:

        Unless Bloomberg also did some heavy massaging of the data to reflect it in the other categories, the “Professional and Business Services” category includes the temporary help numbers. These are also low wage jobs and account for about 50% (this month it was 20.2K out of a 32K total for P&BS) on average of the new positions reported in that major category. Of course, that also represents 10% of the month’s total new jobs numbers. When something like 50% of all new jobs are minimum wage or below, the average wage is bound to decline.

  5. constantnormal says:

    … along with all the (insanely awesome animated chart graphics showing numbers of jobs, it would have been nice to see something quantifying the magnitude of the reductions (or gains, where applicable) in consumer purchasing power (which I would think should follow incomes, in the aggregate) … a pity that the raw FICA collection data is not publicly available (appropriately aggregated by state/county/zip code/?), as that would make an excellent metric to follow for percentage changes …

    … just a suggestion …

  6. cschene says:

    Fantastic graph! Very educational.