Posts filed under “Employment”
I really like this bubble chart. I saw it last night in a report from the National Employment Law Project titled: “The Low-Wage Recovery: Industry Employment and Wages Four Years into the Recovery.”
Interestingly, the data has provoked opposing reactions from two media outlets. The Washington Post’s Wonkblog used the chart in a piece with the headline: “U.S. job growth is coming in all the wrong places.” The New York Times’ Upshot went in the opposite direction: “A Low-Wage Recovery? The Evidence Isn’t There.”
I see two things in the chart: The largest numbers of new jobs are coming from low-wage industries (the chart doesn’t inform us as to whether this is unusual based on prior recoveries and/or expansions).
Second, federal, state and local governments are still a net negative on employment — which is very different from past recoveries.
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…Read More
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