Job-Related News

September 6, 2024

Unemployment data–August 2024 Charts Related to BLS Employment Release Top Charts of 2022 EPI Top ten charts 2023 AEA

Baker, CEPR 9/6/2024 “The August employment report showed a modest drop in the unemployment rate to 4.2 percent. While this is a trivial decline, it comes after the rate had risen by 0.6 percentage points from 3.7 percent in January to 4.3 percent in July, raising concerns about a possible recession. The drop in August should help to push back these concerns…..The basic takeaway from the August report has to be positive, most importantly from the drop in unemployment. While the drop was small, at least for now unemployment does not seem to be headed on a continuous upward path. The rate of job growth in the August report is considerably slower than what we had been seeing earlier in the year, but it is likely a pace that should be consistent with a stable unemployment rate. Wages continue to grow at a moderate pace that is consistent with the Fed’s inflation target. All of this is very good; however, the sharp downturn in manufacturing employment provides some grounds for concern, as does the rise in involuntary part-time work.”

EPI jobs blog, 9/6/24: “Unemployment ticked down as the prime-age employment-to-population ratio remains at record high. A slow down in job growth is expected as we approach full employment. By all measures, we are still in a strong labor market, but the Fed needs to lower interest rates to levels consistent with where we are in terms of inflation and trends in key labor market metrics…..the prime-age employment-to-population ratio is her desert island measure of the labor market, if you could only take one with you. It remains at its highest in nearly a quarter century, telling us that we remain in a strong labor market.” Elise Gould @eliselgould

Forsyth, Marketwatch 9/6/24 “The Federal Reserve will lower its policy interest rate later this month, as is nearly universally anticipated by analysts and financial market participants. But market expectations that the central bank will slash its federal-funds target range aggressively by a full percentage point or more by year end will probably prove to be excessive—just as they were earlier this year…..To be sure, the beige book prepared for the coming FOMC meeting had a distinctly downbeat tone. Nine of the Fed districts reported weaker conditions, with only three saying that “economic activity grew slightly.” Employers were only filling necessary vacancies or those resulting from attrition. But unemployment claims remain steady at a low level of about 230,000 per week, indicating no widespread sacking. One obvious factor that seems to be overlooked by economists and investors is that this is an election year. A number of academic studies find that employers pull back on spending ahead of elections, especially when the races are expected to be close.”

DePillis, Casselman NY Times, 9/6/24 “The labor market appears to have shifted into a lower gear, reinforcing concerns that businesses have little appetite to hire as interest rates weigh on investment and the path of consumer demand remains uncertain…..Job growth picked up in August, but June and July’s figures were revised down. If that sentence sounds familiar, there’s a reason: There has been a consistent pattern of negative revisions in recent job reports.

ZeroHedge, 9/6/24 June Payrolls Miss But Unemployment Rate Declines, Pulling Back From “Sahm Recession” Trigger As Wages Unexpectedly Rise “There was some good news and some bad news in today’s jobs report – first the bad news: the August payrolls number came in at 142K, a small miss to estimates of a 165K print, if a big jump from the downward revised July print of 89K. The good news, however, is that while the payrolls print missed, the unemployment rate actually dipped from that critical “Sahm’s Rule trigger” level of 4.3%, to 4.2%, in line with expectations. So bottom line: the number could be better, but it is certainly not bad enough to trigger a 50bps rate cut in two weeks…..Looking at the components, while most sectors tracked by the Establishment survey posted an increase (see more details below), the all-important manufacturing sector lost 24K job, the second worst month for the sector in 3 years! “

Baker and Cai, Masking Real Unemployment: The Overall and Racial Impact of Survey Non-Response on Measured Labor Market Outcomes, 3/21

Flexible work: What workers, especially low-wage workers, really want and how best to provide it, Poydock et al, EPI 7/24 Summary: Many workers, especially low-wage workers, aren’t getting key benefits they want—such as paid leave and predictable schedules—because lawmakers are letting companies and employers get away with anti-worker practices.

American Capitalism Has Produced Its Most Remarkable Innovation Yet: Breadlines Savage, Jacobin 5/23 “As one commentator succinctly put it: ‘1) Too many people have jobs so the [Federal Reserve] raises rates to boost unemployment in the name of taming inflation. 2) People lose their jobs, making them need food stamps. 3) Politicians demand those same people get jobs to be eligible for food stamps, but the jobs are now harder to get.'” See a Bloomberg report on lines at food banks. One such line outside a Boston Red Cross facility “stretched the length of two football fields.”

Bivens, EPI 8/21 The promise and limits of high-pressure labor markets for narrowing racial gaps. This paper explores the promise and limits of high-pressure labor markets in reducing racial labor market gaps and how too-slack labor markets have helped thwart progress in closing the gaps. It then draws lessons from these investigations for policymakers.

Bivens & Shierholz, EPI 12/18 What labor market changes have generated inequality and wage suppression?

Equitable Growth Research showing rising mortality rates among white Americans suggests that increasing economic insecurity for this group may play a role in increasing mortality. New research shows that one form of insecurity—higher unemployment rates—is strongly associated with higher opioid death rates. The paper, … a National Bureau of Economic Research working paper, looks at the connection between unemployment and opioid abuse.

The EMRATIO [the ratio of employed to the the civilian noninstitutional population aged 16 years and over] that is employed.has not fully recovered its pre-crisis level as of 3/24. https://fred.stlouisfed.org/graph/?graph_id=453007#0

Labor force participation rate [labor force as a % of civilian noninstitutional population] recovery since the recession by age, Fed. Res., St Louis. Note: except for those 55 and over, labor force participation rates have not yet recovered pre-crisis levels. 9/19 data. https://fred.stlouisfed.org/graph/?graph_id=316679#0

Full-time workers: http://www.bls.gov/web/empsit/cpseea06.htm

Many older workers have difficult jobs that put them at risk Working longer is not a viable solution to the retirement crisis, Morrissey, EPI 5/23

Worker Rights and Wages Policy Watch, EPI

Blue Collar Jobs Tracker, CEPR

How Many Weeks of Unemployment Compensation Are Available? CBPP, 6/24

Job Openings Rise in December But Quits Tell the Real Story Mishtalk, 1/24

Union Reformers Made Labor History in 2023. They’re Just Getting Started, Eidlin, In These Times, 1/24

Why Criminal Justice Reform Is Becoming a Corporate Priority, Maddox DMag. 9/23

New Data on Formerly Incarcerated People’s Employment Reveal Labor Market Injustices, Wang & Bertram, Prison Policy Initiative 9/22

The impact of the Raise the Wage Act of 2023, Zipperer, EPI 7/23

Sick Workers Tied to 40% of Food Poisoning Outbreaks, C.D.C. Says, NY Times 6/23

Could 300,000 Job Openings Be Fake? Here’s Why Goldman Thinks They Might Be, Saul, Forbes 5/23

Racial Differences in Unemployment Insurance, Ananat & Gassman-Pines, EconoFact 4/23

Employment of “People with a Disability” Spiked to Record in Hot Labor Market, Richter, Wolf Street 2/3/23

Union membership rate 10.1% in 2022, down from 10.3% in 2021, but numbers up 1/23

Workplace Fatalities Hit Highest Rate Since 2016, Wells, Mfgnet 12/22

As Fed Pushes to ‘Get Wages Down,’ Study Shows CEO Pay Has Soared by 1,460% Since 1978 Workers pay rose by 18.1% between 1978 and 2021, Johnson, Common Dreams, 10/22

On the Clock and Tracked to the Minute, Kantor & Sundaram, NYT 8/15/22 “Offline work–doing math problems…reading printouts, thinking–didn’t register…”

Black Youth: More Likely to Need a Job, Less Likely to Get One, CEPR 8/22

Most Price Increases from Inflation Have Gone to Corporate Profits The inflation panic is causing some Democrats to pivot from social spending to deficit reduction. That’s exactly the wrong approach.Max B. Sawicky / In These Times 5/22

Botched policy responses to globalization have decimated manufacturing employment with often overlooked costs for … workers of color, Scott etal, EPI 1/22

Union membership resumes its fall, Henwood, 1/22

Record number of minimum wage increases set for 2022, Gonzalez, Axios 12/21

The Great Escape The most vulnerable people in America have started the closest thing we’ve seen in a century to a general strike. Dayen, TAP 11/21

A record number of workers are quitting their jobs, empowered by new leverage Rosenberg, Wash.Post, 10/21

Quantifying the Impact of the Fight for $15: $150 Billion in Raises for 26 Million Workers…, Lathrop, Lester, & Wilson, NELP 7/21

The Bureau of Labor Statistics Counted Only Eight Strikes in 2020, Payday Report Counted 1,200, Leon & Elk, INET 7/21

Reforming unemployment insurance, EPI 6/21

American workers are quitting at the highest rate in decades, Fernholz, Quartz 6/21

Identifying the policy levers generating wage suppression and wage inequality, Mishel & Bivens, EPI 5/21

Is Unemployment Insurance Behind the Fast-Food Labor Shortage? In reality, it’s the low pay and abysmal working conditions, Sainato, TAP 5/21

Covid Is Hitting Workers Differently Than the Financial Crisis, Fazzari & Needler 4/21

The Black-White Wage Gap Is as Big as It Was in 1950, Leonhardt, NYT 6/20

Bosses in the US Have Far Too Much Power to Lay Off Workers Whenever They Feel Like It, Sheehan, Jacobin, 6/20

Obsession With Fraud Sabotages U.S. Aid to Millions Without Jobs, Kochkodin, 5/20 Bloomberg

Replacing workers has many costs, Carleton, Conversation 4/20

You’re the Real Job Creator: An interview with Stephanie Kelton, N+1 4/20

What the historically low U.S. unemployment rate means for women workers, Cumming, Equitable Growth, 3/20

The Robots Are Not Coming, Henwood, Jacobin 2/20

Low-wage work is more pervasive than you think” Ross & Bateman, Brookings, 11/19

Labor Historian Staughton Lynd’s Book Is Embraced by Google Workers and Uber Drivers, 10/19

The Military-Industrial Jobs Scam, Tomgram: Harris, Stimpson, and Freeman, 8/19

Black workers are being left behind by full employment, Perry, Brookings 6/19

Want to decrease suicide? Raise the minimum wage, researchers suggest, Cerullo, CBS News, 4/19

The Bogus Justification for Worker Non-Compete Clauses, Vaheesan, On Labor 4/19

Major Work Stoppages in 2018, BLS 2/19

Updated employment multipliers for the U.S. economy, Bivens, EPI 1/19

“…one new manufacturing job in the U.S. results in 7.4 new jobs in other industries. Whereas one new retail job creates just 1.2 new jobs.The only two industries with higher indirect job losses are utilities (9.6 to 1) and real estate and rental leasing (8.8 to 1).” J. Bivens, EPI GRAPHIC 1/19

How shareholder profits conquered capitalism – and how workers can win back its benefits for themselves, Brennan, Conversation, 10/18

Standards Go Out The Window As Employers Struggle To Fill Jobs, Dunkley, SafeHaven 8/18

Anti-Union Measure in Missouri Loses by Massive Margin, Baker, CEPR 8/18

Mystery of the Underpaid American Worker, Lindorff, Counterpunch 8/18

Huge Increase in Large Work Stoppages Seen in 2018, Dirnbach, Medium, 7/18

The economy is hot, yet many U.S. workers feel left behind. A new report sheds some light, Van Dam, Wash Post, 7/18

“In total, RTW laws have led to a 14.2% increase in occupational mortality through decreased unionisation.” Does ‘right to work’ imperil the right to health? The effect of labour unions on workplace fatalities, Zoorob Occup. Envir. Med. 6/18

Disability applications plunge as the economy strengthens, Schwartz, CNBC 6/18

Grand Theft Paycheck: wage theft is pervasive in Corporate America. Good Jobs First, 6/18

Contingent and Alternative Employment Arrangements —MAY 2017, BLS 6/18

Report on the Economic Well-Being of US Households in 2017, FRS 5/18

The fuzzy line between “unemployed” and “not in the labor force” and what it means for job creation strategies and the Federal Reserve, Bivens, EPI 3/18

Why Are Prime-Age Men Vanishing from the Labor Force? Prime-age men are increasingly vanishing from the labor force, due in part to job polarization.. Tusemen, FRB-KC, 2/18

Black Lung Disease Comes Storming Back in Coal Country, Popovich, NYT 2/18

Federal investigators this month identified the largest cluster of advanced black lung cases ever officially recorded.

Medicaid Work Requirement Would Harm Unemployed, Not Promote Work, Katch, CBPP 1/18

Seattle’s $15 Minimum Wage Experiment Is a Success, 1/18

Union membership rate, at 10.7%, is unchanged in 2017, BLS 1/18

German workers strike for right to two-year, 28-hour working week: metalwork union’s campaign to improve work-life balance, 1/18

Minimum wage hikes in 18 states set for new year, The Hill, 1/18

Employment Hysteresis from the Great Recession, Yagan NBER 9/17

Employment in Europe and the US: the EU’s remarkable strength, Darvas & Pichler, Bruegel 9/17

Where Have All the Workers Gone? An Inquiry into the Decline of the U.S. Labor Force Participation Rate, Krueger, Brookings 9/17

How today’s unions help working people: Giving workers the power to improve their jobs and unrig the economy, Bivens et al, EPI 8/17

US Opioid Use Linked To Unemployment, Moreno, ibtimes, 8/17 NBER study

New Report Finds Corporate Tax Cuts Boost CEO Pay, Not Jobs, Anderson, IPS 8/17

Macroeconomic Conditions and Opioid Abuse, Hollingsworth et al, NBER 2/17

Why I Dissented, Kashkari explains his vote at FOMC 3/17

‘Superstar Firms’ May Have Shrunk Workers’ Share of Income, Cohen, NYT 3/17

Falling Labor Force Participation: Demographics or Lack of Jobs? Dantas & Wray 2/17

Union membership rate in 2016 is 10.7%, down from 11.1% in 2015 BLS, 1/17 CEPR

Economic Realities in America: By The Numbers, Pearle ABC News 1/17

Happy Holidays, You’re Fired: List of Companies Laying People Off, McIntyre 24/7 Wall St. 12/16

American Marriage in the Time of the Recession, Campbell, Atlantic 11/16

The U.S. Job Recovery Is a Global Laggard, Kocherlakota, Bloomberg, 10/16

Happy Labor Day! There Has Never Been a Middle Class Without Strong Unions, Schwarz, Intercept 9/16

The State of the Unions 2016: A Profile of Organized Labor in NYC, NYS, & the US, Milkman and Luce, Murphy Ctr for Worker Education, 9/16

Black Workers, Unions, and Inequality Bucknor, CEPR 8/16

When workers don’t get paid sick days, everyone else is more likely to get sick, Paquette, Wash. Post, 8/16

‘Middle class’ used to denote comfort and security. Not anymore Quart, Guardian 7/16

“There are three main reasons the vaunted economic recovery still feels false to so many. The first is the labor participation rate, which plunged at the start of the Great Recession and discounts the millions of Americans who have been out of work for six months or more. The second is “the 1099 economy,” … the soaring number of temps, contractors, freelancers, and other often involuntarily self-employed workers. The third is a surge in low-wage service jobs, coupled with a corresponding decrease in middle-class jobs.” Why America’s impressive 5% unemployment rate feels like a lie for so many Kendzior, Quartz 4/16

Business Leaders Have Abandoned the Middle Class, Haque, HBR, 6/16

Producing Poverty: The Public Cost of Low-Wage Production Jobs in Manufacturing Berkeley Labor Ctr 5/16

Report of 10,000 severe workplace injuries might be only half the problem, Wash. Post, 3/16

The missing puzzle piece of the global economic recovery is finally falling into place, Bird 6/15

State, Met. Area Employment and Unemployment Data, BLS

The Missing Piece of the Global Recovery

Interactive map: Unemployment rates by state, BLS

International Labor Comparisons, BLS

At Amazon.com “cheap” comes at a very hefty price, Hightower 8/14

Report Uncovers the Real Costs of Outsourcing Public Services, JwJ 3/14

Do You Have Job Fear? What’s Why We Need Full Employment, Johnson CAF 8/13

Millions of Americans live in extreme poverty, Matthews, 5/13