Some Reactions to the Employment Situation Release for January

Here’s FoxBusiness’s web coverage of the employment release (around 4pm CT): No mention of the jobs report. One of the articles I find in a search has a title displaying cognitive dissonance, “U.S. heads toward slow recovery with 353,000 jobs added in January: The economy is growing fast, but Fed still waiting on rate cuts”. … Read more

The Wisconsin Macro Outlook (Updated for Employment Release)

Yesterday, the Wisconsin macro outlook was reviewed in the context of the November Economic Forecast released by the DoR. Today, we can update the picture, using the newly released employment numbers (piece on WPR today). First, the October decline in nonfarm payroll employment is erased, and November’s number is up, hitting the forecast. Figure 1: … Read more

Question: What are the 5 industries with the largest employment?

Curious about which industry tops the employment charts? Teachers, you might be surprised!   Answer: Questions: Do any of the industries on this list surprise you? Why or why not? Do you think any other industries will join the top 5 in employment in the next 5 or 10 years? Why? How does technology impact … Read more

“the employment cost index: wages and salaries shows a decline since 4Q19”

I do not understand how one can write this sentence in 2023, and still be living on this planet. I retrieved data from FRED (ECIWAG), version posted on October 16, 2023. I plot: Figure 1: Employment cost index: wages and salaries: Private Industry Workers (ECIWAG), Dec. 2005=100 (blue), and ECI deflated by chained CPI (adjusted … Read more