Recent Job Reports Charting Success


Screen Shot 2015-03-07 at 10.50.59 PM

The February jobs report was released by the Bureau of Labor Statistics on Friday.  It paints a relatively rosy picture with solid job growth of 295,000 and a declining unemployment rate that reached 5.5 percent.  Wall Street Journal’s Real Time Economics provides an informative snapshot of the recent job trends in employment.

Chart 1:  Year-to-year job gains are steadily rising.

Screen Shot 2015-03-07 at 10.26.50 PM

Chart 2:  Unemployment rate continues to fall.

Screen Shot 2015-03-07 at 10.28.35 PM

 

Chart 3:  Labor force participation rate continues to fall which is not good, but employment to population ratio is rising, which is good.

Screen Shot 2015-03-07 at 10.29.28 PM

Chart 4:  Even though the type of jobs are improving, we are still seeing more part-time jobs than full-time jobs.

Screen Shot 2015-03-07 at 10.31.41 PM

Chart 5:  Unemployment rate is falling for all levels of education.

Screen Shot 2015-03-07 at 10.33.33 PM

 

Chart 6:  Long-term unemployment rate has steadily fallen, suggesting that the job market is improving.

Screen Shot 2015-03-07 at 10.36.18 PM

Chart 7:  While length of unemployment remains higher than pre-recession period, it is also falling.

Screen Shot 2015-03-07 at 10.37.39 PM

 

Chart 8:  While long-term unemployment is still above pre-recession levels, short-term unemployment is below it.

Screen Shot 2015-03-07 at 10.39.09 PM

Chart 9:  Even though average hourly wages remain relatively stagnant, the number of hours worked is rising, which is driving up average weekly earnings over the last quarter.

Screen Shot 2015-03-07 at 10.40.48 PM

Chart 10:  Recent surge in employment suggests that we might be near full employment.

Screen Shot 2015-03-07 at 10.42.57 PM

When evaluating labor markets, it is more useful to evaluate them over an extended period.   Most of these ten charts suggest that the U.S. labor market is headed in the right direction.

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s