By FRANK STRICKER So where the heck are we on the job front? The Bureau of Labor Statistics report on employment in August included contradictory information. Payroll job totals of government and non-farm business employers showed an increase of 315,000 jobs. Yet in the household survey unemployment increased by two tenths of a percentage point… Read More The Confusing Job Situation in August 2022
August 2022 Unemployment Data–the Full Count (U.S. BUREAU OF LABOR STATISTICS) OFFICIAL UNEMPLOYMENT: 3.7%*[ANALYSES by EXPERTS] White 3.2% African American 6.4% Hispanic 4.5% Asian¹ 2.8% Persons with a disability¹ 7.7% Men 20 years and over 3.5% Women 20 years and over 3.3% Teens (16-19 years) 10.4% Black… Read More Unemployment Data–AUGUST 2022
By FRANK STRICKER In July, the official Bureau of Labor Statistics unemployment rate fell to 3.5%. It has not been that low since the first months of 2020 before the pandemic began. But unemployment rates were still quite high for African Americans (6%), teens (11.5%), and especially for black teens (20.3%). 1. Why Aren’t Even… Read More Recession Yet? The Jobs Report for July, 2022
July 2022 Unemployment Data–the Full Count (U.S. BUREAU OF LABOR STATISTICS) OFFICIAL UNEMPLOYMENT: 3.5%*[ANALYSES by EXPERTS] White 3.1% African American 6.0% Hispanic 3.9% Asian¹ 2.6% Persons with a disability¹ 7.8% Men 20 years and over 3.2% Women 20 years and over 3.1% Teens (16-19 years) 11.5% Black… Read More Unemployment Data–JULY 2022
By L. Randall Wray The mainstream consensus is that slow economic growth is a supply-side problem while inflation is a demand-side problem. In the run-up to the COVID downturn, the media’s favorite economist, Larry Summers, warned of long-term secular stagnation. Pundits attributed this to a variety of supply-side factors, including slow growth of the labor… Read More Raising Interest Rates Is the Wrong Medicine for Today’s Inflation
