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July jobs: Labor market keeps ticking, but virus surge is slowing pace of gainsAugust 7th, 2020 at 10:39 amThe labor market kept ticking in July, but the re-surging pandemic led to slower hiring across most industries. Payrolls rose 1.8 million last month, compared to average monthly gains of 3.8 mi
Surprise! One report does not a new trend make but reopening may be occurring sooner than expected.June 5th, 2020 at 11:23 amBefore even getting to the facts of the case on today’s very surprising jobs report, let me share a few insights.–One jobs report does not a new trend make.–Keynes was right.–
Update re: On the EconomyJanuary 27th, 2021 at 11:48 amJared Bernstein will not be blogging here while he serves as a member of President Biden’s Council of Economic Advisers. We will continue hosting this site as an archive. -CBPPShare the post "Update re: On the Economy"FacebookTwitterShare…windo
Unemployment down but so is pace of job gainsSeptember 4th, 2020 at 11:11 amPayrolls were up 1.4 million in August and the unemployment rate fell sharply from 10.2 to 8.4 percent according to this morning’s labor market update from the Bureau of Labor Statistics. Payrolls remain 11.5 million below t
November jobs report shows clear, virus-related slowingDecember 4th, 2020 at 3:54 pmPayrolls were up 245,000 last month, the slowest month for job gains since the jobs recovery began in April. The jobless rate fell from 6.9 to 6.7 percent, but this was due to a decline in labor market participation,
A strong jobs report but big holes remain and we’re not outta the viral woods.July 2nd, 2020 at 10:38 amPayrolls popped up by 4.8 million in June, as commerce continued to gradually reopen across the country. Most industries (75 percent) added jobs, and millions of furloughed workers were called bac
Hey, Senators! The case for extending Unemployment Insurance benefits is air tight.June 26th, 2020 at 10:49 amThere’s newinformationout this morning that should be a critical input into ongoing negotiations in the U.S. Senate. Senators are debating whether the economy needs another relief package, a
Figures behind our “targeting the Black rate” essayJune 14th, 2020 at 9:18 amJanelle Jones and I have a new piece coming out wherein we explain why and how the Federal Reserve should target the Black unemployment rate in setting monetary policy.The first figure to which we refer is the share of quar
September 2020 jobs report: Slowing jobs gains and a huge spike in long-term unemploymentOctober 2nd, 2020 at 11:09 amPayrolls grew by 661,000 last month, well below expectations, and the jobless rate ticked down to 7.9 percent, driven not by job gains, but by people leaving the labor force. Long-te
October jobs: better than expected but a long way to goNovember 6th, 2020 at 11:29 amPayrolls grew by 638,000 last month, and the unemployment rate fell sharply, by a full percentage point, to 6.9 percent. The report reveals a job market that’s healing, but at a slower pace than earlier in the year