Posts Tagged ‘employment’
Less Work
US employment peaked in 1/08 at 138.1 million. Employment then fell to a low of 129.3 million in 2/10, a loss of 8.8 million jobs. Today 46 months after the end of the recession, employment is 135.2 million, 2.9 million below the high. Assuming an optimistic 200,000 new jobs per month, a new employment high…
Read MoreGDP for Higher
During Q3 ‘11 U.S. GDP finally exceeded the real pre-recession peak of total economic output recorded in Q4 ‘07. It took 15 quarters to offset the 5.1% decline in output during the Great Recession, 3 times the average number of quarters needed to reach the prior peak in other post-WWII recessions. The bigger problem, the…
Read MoreNew Jobs? Uh…
The July jobs report showed 117K new jobs, but the report also showed no rise in temporary help, no jump in hours worked, no bump in overtime. And, annualized wage growth of 2.8% in July was less that the 3.4% inflation rate. While the unemployment fell to 9.1% it’s because 193K left the labor force!…
Read MoreTexas; #1 in Job Growth
37% of all net new jobs created since the recovery began were created in TX. TX has added 265K net jobs. NY was 2nd with 98K, PA 93K. TX is also one of 4 states that has more jobs now than when the recession began; the others are ND, AK and DC. Over the last…
Read MoreLousy Job Market
Latest job data for Jan showed job openings dropped 161K after a 45K decline in Dec and are at lowest level since 7/09. New hires also fell 193K and are down in 6 of last 7 months. The fact layoffs fell 158K in Jan offers little consolation but explains why jobless claims have been trending…
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