Thursday, September 7, 2017

Weekly Unemployment Claims: Week Ending September 2, 2017

Claims for Unemployment Benefits Jump

Thanks to Hurricane Harvey, initial claims for unemployment benefits increased by about 61,000 in seasonally adjusted numbers, 53,000 in unadjusted "real" numbers.

Notice the big hockey stick increase in the right at this graph from the Department of Labor:

From the Department of Labor
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Friday, August 25, 2017

How Many Jobs Has Trump Created Or Lost? (July 2017 update)

How many NET jobs have been created or lost under Trump as of July 2017? How many private sector jobs have been lost or added during Trump's presidency?

*See below
 
**************************************
July 2017 numbers were released 
Friday morning, August 4th.  
All JULY reports and info will be listed  HERE.
August # will be released Friday, September 1.

  • Obama's final jobs numbers HERE.
  • Trump's million jobs:  Good or bad? HERE

**************************************

How many new jobs in the last 6 months since Trump was inaugurated?  
How many Americans were working or employed when Trump took office... compared to now?  How many of those people are working full-time vs. part-time?
*See below

Notice that the trajectory of job growth has not changed under Trump (green line at upper right).  We continue to add private sector jobs at about the same pace as we added private sector jobs under Obama.


Thursday, August 24, 2017

Trump's Million New Jobs: A Big Deal or Not?

Have a million jobs really been created during the presidency of Donald Trump?

Well, yes; since Trump took office in January 2017, six full months ago, 1,074,000 jobs have been added (in net numbers) according to the Bureau of Labor Statistics which keeps track of such things.

The issue is whether or not this is as big a deal as Trump supporters claim and whether or not this is better than job growth during the Obama years.  

See for yourself:



Friday, August 4, 2017

July 2017 Unemployment Rate, Jobs

The July 2017 Jobs Report was released by the government's Bureau of Labor Statistics this morning, Friday, August 4. This is another strong report, continuing last month's trend.  This report, while strong, is not better than most of the job reports during the Obama years.

The economy has been adding jobs consistently for 7 1/2 years now.  In fact, in 45 of the 84 months between early 2010 and the end of the Obama Presidency, 200,000 or more jobs were added.

The job reports under Trump (since February) seem to continue this trend of consistent addition of jobs and slow but consistent decline in the unemployment rate. 


July 2017 Job Report Highlights: 
  • The economy added 209,000 jobs, an  above average number of new jobs, and the unemployment rate declined slightly by 0.1% to 4.3% due to people entering the labor force and finding jobs.

Friday, July 7, 2017

June 2017 Unemployment Rate, Jobs

The June 2017 Jobs Report was released by the government's Bureau of Labor Statistics this morning, July 7. This is a strong report, seeming to reverse the weakness seen in the prior few months.  Again, one month does not make a trend, and this report, while strong, is not better than most of the job reports during the Obama years.

The economy has been adding jobs consistently for 7 years.  In fact, in 45 of the 84 months between early 2010 and the end of the Obama Presidency, 200,000 or more jobs have been added.

The job reports under Trump (since February) seem to continue this trend of consistent addition of jobs and decline in the unemployment rate. 


June 2017 Job Report Highlights: 
  • The economy added 222,000 jobs, a below average number of new jobs, and the unemployment rate grew slightly slightly by 0.1% to 4.4% due to people entering the labor force and finding jobs.

It's Jobs Day in America!


It seems like a long time since the May jobs numbers, but finally we eagerly anticipate the jobs numbers for June 2017.  


The payroll processor ADP estimates that we added 158,000 new private sector jobs in June 2017.  Their estimates have been high compared to the BLS (Bureau of Labor Statistics) numbers for the last few months; we'll see what happens tomorrow morning.

Unemployment claims numbers continue to be very low, though not quite as low as they were in late May.  

Reuters reports that the pundits estimated that we would add 185,000 private sector jobs, so the 158,000 reported by ADP was a disappointment and was largely responsible for the drop in the stock market.

We'll see what we will see tomorrow morning, 8:30 a.m. Eastern Time, very close to the time that Trump will be meeting with Putin in Germany.  So it will be a busy Friday morning.

Until tomorrow!





Sunday, June 4, 2017

Job Growth Is Usually Higher Under Democratic Administrations

Democratic administrations beat Republican administrations in terms of overall percentage of job growth.  Democratic administrations are denoted by blue bars, Republican administrations by red bars on the graph below.

(You may wish to click the photo to get a better look at the graph.)