Posts filed under “Employment”
click for larger graphic
Source: Calculated Risk
Have a look at the chart above, via Calculated Risk. It aligns the depths of all eleven post WW2 recessions, showing how long it took them to recover all of the jobs lost. The outlier is the 2007-09 contraction, which according to the chart above, is still somewhat below the prior employment level.
Friday’s Employment situation report pegged private sector (nongovernmental) employment back above 116 million. We now have more private sector employment than we did in January 2008, the prior highs in employment. During the recession, and not too long after, the private sector shed 8.8 million jobs; It has since added 8.9 million private sector jobs.
While I have been busy kvetching about the weather, another payrolls report has snuck up on us. Estimates are for a 200,000 increase in nonfarm payrolls, the most since November, according to the median forecast of 90 economists surveyed by Bloomberg. But really, I have to ask: Why do you care? As I have relentlessly…Read More
What the Federal Reserve is Doing to Promote a Stronger Job Market Chair Janet L. Yellen At the 2014 National Interagency Community Reinvestment Conference, Chicago, Illinois March 31, 2014 I am here today to talk about what the Federal Reserve is doing to help our nation recover from the financial crisis and the…Read More
click for larger graphic Source: NYT Floyd Norris discusses an upcoming milestone: A full recovery in employment to numerical (but not percentage) employment in the US: “This seems likely to be the month when a new high is finally reached, ending a period that featured the largest drop in employment and the slowest recovery…Read More
With Spring nearly upon us, today may be the last chance for excuse-makers to blame this winter’s awful weather for poor job creation. Consensus estimates are that Payrolls increased 149,000 in February after a mediocre gain of 113,000 in January. What is to blame for this weak ongoing job creation? Is it the Fed’s fault?…Read More
Why Is the Job-Finding Rate Still Low? Liberty Street Economics Victoria Gregory, Christina Patterson, Ayşegül Şahin, and Giorgio Topa Fluctuations in unemployment are mostly driven by fluctuations in the job-finding prospects of unemployed workers—except at the onset of recessions, according to various research papers (see, for example, Shimer [2005, 2012] and Elsby, Hobijn,…Read More
Why Is the Job-Finding Rate Still Low? Victoria Gregory, Christina Patterson, Ayşegül Şahin, and Giorgio Topa Liberty Street Economics Feburary 19, 2014 Fluctuations in unemployment are mostly driven by fluctuations in the job-finding prospects of unemployed workers—except at the onset of recessions, according to various research papers (see, for example, Shimer [2005,…Read More
By John Robertson and Ellyn Terry A recent Wall Street Journal blog post caught our attention. In particular, the following claim: It’s not size that matters—at least when it comes to job creation. The age of the company is a bigger factor. This observation is something we have also been thinking a lot about over…Read More