Total nonfarm payroll employment rose by 143,000 in January, and the unemployment rate edged down to 4.0% Revisions added net 100,000 jobs in November and December - ThreadSky

nicktimiraos.bsky.social • 21 days ago

Total nonfarm payroll employment rose by 143,000 in January, and the unemployment rate edged down to 4.0%

Revisions added net 100,000 jobs in November and December

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nicktimiraos.bsky.social•21 days ago

Job growth over the past six months has averaged 177.7K, little changed from December (170K)

But the three-month hiring average popped up to 237K from 164K in December.

nicktimiraos.bsky.social•21 days ago

The unemployment rate dropped to 4.01% in January, down from 4.09% in December and a post-pandemic-recovery high of 4.23% in November

nicktimiraos.bsky.social•21 days ago

The index of aggregate weekly payrolls is a good monthly proxy for nominal income growth and correlates well with nominal GDP growth.

It was up 5.0% YoY in January. Revisions to employment figures show growth was slightly weaker than previously reported last year

nicktimiraos.bsky.social•21 days ago

Average hourly earnings were little changed at 4.06% on a year-over-year basis for private sector workers in January

A touch firmer for production and nonsupervisory workers at 4.15%

nicktimiraos.bsky.social•21 days ago

Permanent job losers (as a share of the labor force) has been quite stable over the last year and held at 1.0% in January

memphisgrizz55.bsky.social•21 days ago

Quick look at monthly revisions in summer suggests Fed was not wrong to cut in September. A string <100

Q4 growth was super sized

jebnc.bsky.social•21 days ago

Biden got screwed by media coverage

hfrearden.bsky.social•21 days ago

Of himself talking?

Biden was the solution that became the problem.

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