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mahatmakanejeeves

(57,570 posts)
Fri May 6, 2022, 08:31 AM May 2022

April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6%

Source: Yahoo! Finance

Yahoo Finance

April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6%

Emily McCormick · Reporter
Fri, May 6, 2022, 8:31 AM · 4 min read

U.S. job growth remained robust in April as the unemployment rate held near its pre-virus low, further underscoring the still-tight domestic labor market. ... The Labor Department released its monthly jobs report for April Friday morning at 8:30 a.m. ET. Here were the main metrics from the print, compared with consensus data compiled by Bloomberg:

-- Non-farm payrolls: +428,000 vs. +380,000 expected and a revised +428,000 in March

-- Unemployment rate: 3.6% vs. 3.5% expected, 3.6% in March

-- Average hourly earnings, month-over-month: 0.3% vs. 0.4% expected, 0.4% in March

-- Average hourly earnings, year-over-year: 5.5% vs. 5.5% expected, 5.6% in March

The U.S. economy has brought back payrolls each month so far in 2022, and April's payrolls gains still represented growth well-above pre-pandemic trends. Throughout 2019, payroll growth had averaged about 164,000 per month.

"Demand for labor remains strong, though with the market much closer to full employment, the pace of monthly hiring gains should continue to ease over the coming months," Sam Bullard, Wells Fargo senior economist, wrote in a note earlier this week, before the release of Friday's jobs report. "We expect to see broad based hiring – with sizable gains from leisure and hospitality and other services-related sectors which are increasingly getting back on their feet following the COVID hibernation."

Indeed, services-based employers have brought back some of the most jobs in recent months, as companies hastened to hire back workers let go during the pandemic to meet renewed consumer demand. While leisure and hospitality employment is still down by about 1.5 million jobs compared with February 2020 levels, that gap has narrowed markedly over the past year.

{snip}

Read more: https://finance.yahoo.com/news/april-2022-jobs-report-labor-department-unemployment-usa-184903769.html



Here is the placeholder article Emily McCormick posted yesterday afternoon at Yahoo! Finance.

-- -- -- -- --

https://finance.yahoo.com/news/april-2022-jobs-report-labor-department-unemployment-usa-184903769.html

Yahoo Finance

April jobs report preview: Payroll growth set to persist as jobless rate improves to pre-virus low

Emily McCormick · Reporter
Thu, May 5, 2022, 2:49 PM

U.S. job growth likely remained robust in April as the unemployment rate improved to its pre-virus low, further underscoring the still-tight domestic labor market.

The Labor Department is set to release its monthly jobs report for April on Friday morning at 8:30 a.m. ET. Here are the main metrics expected from the print, compared with consensus data compiled by Bloomberg:

Non-farm payrolls: +380,000 expected, +431,000 in March

Unemployment rate: 3.5% expected, 3.6% in March

Average hourly earnings, month-over-month: 0.4% expected, 0.4% in March

Average hourly earnings, year-over-year: 5.5% expected, 5.6% in March

The U.S. economy has brought back an average of over half a million payrolls per month so far in 2022. At 380,000, the expected payroll additions for April would mark the least in a year, but still represent growth well-above pre-pandemic trends. Throughout 2019, payroll growth had averaged about 164,000 per month.

{snip}
16 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6% (Original Post) mahatmakanejeeves May 2022 OP
WaPo BumRushDaShow May 2022 #1
Thanks. mahatmakanejeeves May 2022 #3
Good morning to you too! BumRushDaShow May 2022 #5
Links to some BLS Data Series Numbers and Graphs progree May 2022 #2
Thanks, and good morning to you too. NT mahatmakanejeeves May 2022 #4
NYT BumRushDaShow May 2022 #6
From the source, the U.S. Bureau of Labor Statistics mahatmakanejeeves May 2022 #7
Labor Force Particpation Rate (prime age 25-54) Apr 2019: 82.3%, Apr 2022: 82.4% progree May 2022 #8
Odd, because the labor force fell by 363,000 in April progree May 2022 #13
That is great. But I saw a poll recently that said 7 out of 10 Americans think the economy is bad. doc03 May 2022 #9
From today's NY Times Botany May 2022 #11
More jobs and better pay .... Joe Biden is the best President of my lifetime Botany May 2022 #10
Dow down 415 at 947 AM ET (17 min after the open). That's 1.26%, S&P 500 down 1.48% progree May 2022 #12
Productivity decreases 7.5% in Q1 2022; unit labor costs increase 11.6% (annual rates) progree May 2022 #14
#1 riversedge May 2022 #15
Links to earlier reports: mahatmakanejeeves Jun 2022 #16

BumRushDaShow

(129,317 posts)
1. WaPo
Fri May 6, 2022, 08:34 AM
May 2022
U.S. unemployment rate remains steady at 3.6 percent

By Abha Bhattarai


The U.S. unemployment rate remained steady at 3.6 percent in April, as employers added 428,000 jobs to an already robust recovery, the Labor Department said Friday.The labor market has added more than 6.5 million jobs during the past year and is on pace to return to pre-pandemic levels this summer, though economists say there are signs that this record streak of employment gains is beginning to moderate.

“This has been an extraordinary jobs recovery, but this kind of growth can’t last forever, especially now that the unemployment level is as low as it is," said Scott Anderson, chief economist for Bank of the West in San Francisco. “It’s getting harder to find folks to come back into the labor market, even if you’re paying higher wages.”

The job market’s rapid rebound has been a cornerstone of the pandemic recovery and a major political asset for the Biden administration, even though the workforce has remained depressed by a number of factors, including retirement and caretaking. Employers posted a record 11.5 million openings in March — nearly double the number of job-seekers, according to a Labor Department report released earlier this week.

That continued strength has empowered the Federal Reserve to take aggressive action to curb inflation. The central bank raised interest rates this week by half a percentage point, the sharpest increase since 2000, in hopes of cooling the economy without sinking it into recession.

https://www.washingtonpost.com/business/2022/05/06/jobs-report-april/

mahatmakanejeeves

(57,570 posts)
3. Thanks.
Fri May 6, 2022, 08:36 AM
May 2022

I'll post a legit news source, rather than the BLS report, when Emily gets that up and running.

Rain all day here.

And good morning.

BumRushDaShow

(129,317 posts)
5. Good morning to you too!
Fri May 6, 2022, 08:39 AM
May 2022

She has it updated now.

Nor'easter here all weekend.

(hope that the cutoff Low doesn't become "subtropical" or.... )

progree

(10,911 posts)
2. Links to some BLS Data Series Numbers and Graphs
Fri May 6, 2022, 08:36 AM
May 2022

Every one of these data series comes with a table and graph.

# Nonfarm Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0000000001
Monthly changes (in thousands): https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
   NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0000000001

# Employed in thousands from the separate Household Survey, http://data.bls.gov/timeseries/LNS12000000
Monthly changes (in thousands): http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth

   NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/LNU02000000

# Nonfarm PRIVATE Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0500000001
Monthly changes: https://data.bls.gov/timeseries/CES0500000001?output_view=net_1mth
    ^-Good for comparison to the ADP report that typically comes out a few days earlier
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0500000001

# INFLATION ADJUSTED Weekly Earnings of Production and Non-Supervisory Workers http://data.bls.gov/timeseries/CES0500000031

# Labor Force http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth

The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count)


# Unemployed http://data.bls.gov/timeseries/LNS13000000

# ETPR (Employment-To-Population Ratio) aka Employment Rate http://data.bls.gov/timeseries/LNS12300000

# LFPR (Labor Force Participation rate) http://data.bls.gov/timeseries/LNS11300000

# Unemployment rate http://data.bls.gov/timeseries/LNS14000000

# U-6 unemployment rate http://data.bls.gov/timeseries/LNS13327709

# NILF -- Not in Labor Forcehttp://data.bls.gov/timeseries/LNS15000000

# NILF-WJ -- Not in Labor Force, Wants Job http://data.bls.gov/timeseries/LNS15026639

# Part-Time Workers who want Full-Time Jobs (Table A-8's Part-Time For Economic Reasons) http://data.bls.gov/timeseries/LNS12032194

# Part-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12600000

# Full-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12500000

# Multiple Jobholders as a Percent of Employed (Table A-9) https://data.bls.gov/timeseries/LNS12026620

# Civilian non-institutional population
Seasonally adjusted (they seem to have gotten rid of this) https://data.bls.gov/timeseries/LNS10000000
NOT seasonally adjusted: https://data.bls.gov/timeseries/LNU00000000

# Black unemployment rate (%), https://data.bls.gov/timeseries/LNS14000006

# Hispanic or Latino unemployment rate (%), https://data.bls.gov/timeseries/LNS14000009

# White unemployment rate (%), https://data.bls.gov/timeseries/LNS14000003

LFPR - Labor Force Participation Rate for some age groups
The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered). All divided by the civilian non-institutional population age 16+.
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS11300000 NSA: http://data.bls.gov/timeseries/LNU01300000
25-34: SA: http://data.bls.gov/timeseries/LNS11300089 NSA: http://data.bls.gov/timeseries/LNU01300089
25-54: SA: http://data.bls.gov/timeseries/LNS11300060 NSA: http://data.bls.gov/timeseries/LNU01300060
55+: SA: http://data.bls.gov/timeseries/LNS11324230 NSA: http://data.bls.gov/timeseries/LNU01324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU01300097

LFPR - Labor Force Particpation Rate (prime age 25-54) by gender
All: http://data.bls.gov/timeseries/LNS11300060
Men: http://data.bls.gov/timeseries/LNS11300061
Women: http://data.bls.gov/timeseries/LNS11300062


ETPR - Employment to Population Ratio for some age groups
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS12300000 NSA: http://data.bls.gov/timeseries/LNU02300000
25-34: http://data.bls.gov/timeseries/LNS12300089 NSA: http://data.bls.gov/timeseries/LNU02300089
25-54: SA: http://data.bls.gov/timeseries/LNS12300060 NSA: http://data.bls.gov/timeseries/LNU02300060
55+: SA: http://data.bls.gov/timeseries/LNS12324230 NSA: http://data.bls.gov/timeseries/LNU02324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU02300097

Inflation rate (CPI)
. . . Monthly report: https://www.bls.gov/news.release/cpi.nr0.htm
. . . Calculator at: https://www.bls.gov/data/inflation_calculator.htm

Grocery prices (food at home) inflation compared to overall inflation rate
. . . . . https://www.in2013dollars.com/Food-at-home/price-inflation
. . . From 1947 to 2021 and from 2000 to 2021, food at home inflation very slightly lagged the overall inflation rate
. . . . . https://www.democraticunderground.com/10142735789

Data series finder: https://www.bls.gov/data/#employment

BumRushDaShow

(129,317 posts)
6. NYT
Fri May 6, 2022, 08:43 AM
May 2022
U.S. added 428,000 jobs in April as the labor market remained vibrant.


April produced another solid month of job growth, the Labor Department reported Friday, reflecting the economy’s resilient rebound from the pandemic’s devastation. U.S. employers added 428,000 jobs, the department said, the same as the revised figure for March. The unemployment rate in April remained 3.6 percent.

“The job market is proving to be a key source of resilience for the economy. Job creation will eventually settle into a slower pace as businesses feel the pinch of soaring inflation and tighter financial conditions, but gains will stay healthy,” said Oren Klachkin, a lead U.S. economist at Oxford Economics. “We think the economy has enough strength to create over 4 million jobs this year.”

The U.S. economy has regained more than 90 percent of the 22 million jobs lost at the height of coronavirus-related lockdowns in the spring of 2020. And labor force participation has recovered more swiftly than most analysts initially expected, nearing prepandemic levels. The labor supply over the past year has not kept up with a record wave of job openings, however, as businesses expand to meet the demand for a variety of goods and services.

That has helped push up wages — the April survey showed average hourly earnings 5.5 percent higher than a year earlier — but those gains for workers have been largely offset by a surge in prices.

(snip)

— Talmon Joseph Smith

https://www.nytimes.com/live/2022/05/06/business/april-2022-jobs-report/jobs-report-april-2022

mahatmakanejeeves

(57,570 posts)
7. From the source, the U.S. Bureau of Labor Statistics
Fri May 6, 2022, 08:48 AM
May 2022
Payroll employment increases by 428,000 in April; unemployment rate unchanged at 3.6%

Economic News Release USDL-22-0787

Employment Situation Summary
Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, May 6, 2022

Technical information:
Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps
Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces

Media contact: (202) 691-5902 * PressOffice@bls.gov


THE EMPLOYMENT SITUATION -- APRIL 2022


Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, in manufacturing, and in transportation and warehousing.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.

Household Survey Data

The unemployment rate remained at 3.6 percent in April, and the number of unemployed persons was essentially unchanged at 5.9 million. These measures are little different from their values in February 2020 (3.5 percent and 5.7 million, respectively), prior to the coronavirus (COVID-19) pandemic. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.2 percent), teenagers (10.2 percent), Whites (3.2 percent), Blacks (5.9 percent), Asians (3.1 percent), and Hispanics (4.1 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of permanent job losers remained at 1.4 million in April, and the number of persons on temporary layoff was little changed at 853,000. These measures are little different from their values in February 2020. (See table A-11.)

In April, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.5 million. This measure is 362,000 higher than in February 2020. The long-term unemployed accounted for 25.2 percent of all unemployed persons in April. (See table A-12.)

Both the labor force participation rate, at 62.2 percent, and the employment-population ratio, at 60.0 percent, were little changed over the month. These measures are each 1.2 percentage points below their February 2020 values. (See table A-1.)

The number of persons employed part time for economic reasons was little changed at 4.0 million in April and is down by 357,000 from its February 2020 level. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)

The number of persons not in the labor force who currently want a job was little changed at 5.9 million in April. This measure is above its February 2020 level of 5.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.)

Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force increased by 262,000 in April to 1.6 million. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. Discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, numbered 456,000 in April, little different from the prior month. (See Summary table A.)

Household Survey Supplemental Data

In April, 7.7 percent of employed persons teleworked because of the coronavirus pandemic, down from 10.0 percent in the prior month. These data refer to employed persons who teleworked or worked at home for pay at some point in the 4 weeks preceding the survey specifically because of the pandemic.

In April, 1.7 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic--that is, they did not work at all or worked fewer hours at some point in the 4 weeks preceding the survey due to the pandemic. This measure is down from 2.5 million in the previous month. Among those who reported in April that they were unable to work because of pandemic-related closures or lost business, 19.0 percent received at least some pay from their employer for the hours not worked, little different from the prior month.

Among those not in the labor force in April, 586,000 persons were prevented from looking for work due to the pandemic, down from 874,000 in the prior month. (To be counted as unemployed, by definition, individuals must be either actively looking for work or on temporary layoff.)

These supplemental data come from questions added to the household survey beginning in May 2020 to help gauge the effects of the pandemic on the labor market. The data are not seasonally adjusted. Tables with estimates from the supplemental questions for all months are available online at www.bls.gov/cps/effects-of-the-coronavirus-covid-19-pandemic.htm.

Establishment Survey Data

Total nonfarm payroll employment rose by 428,000 in April. Job gains were widespread, with the largest gains occurring in leisure and hospitality, in manufacturing, and in transportation and warehousing. However, nonfarm employment is down by 1.2 million, or 0.8 percent, from its pre-pandemic level in February 2020. (See table B-1.)

Employment in leisure and hospitality increased by 78,000 in April. Job growth continued in food services and drinking places (+44,000) and accommodation (+22,000). Employment in leisure and hospitality is down by 1.4 million, or 8.5 percent, since February 2020.

Manufacturing added 55,000 jobs in April. Employment in durable goods rose by 31,000, with gains in transportation equipment (+14,000) and machinery (+7,000). Nondurable goods added 24,000 jobs, with job growth in food manufacturing (+8,000) and plastics and rubber products (+6,000). Since February 2020, manufacturing employment is down by 56,000, or 0.4 percent.

Employment in transportation and warehousing rose by 52,000 in April. Within the industry, job gains occurred in warehousing and storage (+17,000), couriers and messengers (+15,000), truck transportation (+13,000), and air transportation (+4,000). Employment in transportation and warehousing is 674,000 above its February 2020 level, led by strong growth in warehousing and storage (+467,000) and in couriers and messengers (+259,000).

In April, employment in professional and business services continued to trend up (+41,000). Since February 2020, employment in the industry is up by 738,000.

Financial activities added 35,000 jobs in April, led by a gain in insurance carriers and related activities (+20,000). Employment also rose in nondepository credit intermediation (+6,000) and in securities, commodity contracts, and investments (+5,000). Employment in financial activities is 71,000 higher than in February 2020.

Health care employment rose by 34,000 in April, reflecting a gain in ambulatory health care services (+28,000). Employment in health care is down by 250,000, or 1.5 percent, since February 2020.

Employment in retail trade increased by 29,000 in April. Job gains in food and beverage stores (+24,000) and general merchandise stores (+12,000) were partially offset by losses in building material and garden supply stores (-16,000) and health and personal care stores (-9,000). Retail trade employment is 284,000 above its level in February 2020.

In April, wholesale trade employment rose by 22,000. Employment in the industry is down by 57,000, or 1.0 percent, since February 2020.

Mining added 9,000 jobs in April, with a gain in oil and gas extraction (+5,000). Mining employment is 73,000 higher than a recent low in February 2021.

Employment showed little change over the month in other major industries, including construction, information, other services, and government.

Average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3 percent, to $31.85 in April. Over the past 12 months, average hourly earnings have increased by 5.5 percent. In April, average hourly earnings of private sector production and nonsupervisory employees rose by 10 cents, or 0.4 percent, to $27.12. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.6 hours in April. In manufacturing, the average workweek for all employees fell by 0.2 hour to 40.5 hours, and overtime held at 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.1 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for February was revised down by 36,000, from +750,000 to +714,000, and the change for March was revised down by 3,000, from +431,000 to +428,000. With these revisions, employment in February and March combined is 39,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

_____________
The Employment Situation for May is scheduled to be released on Friday, June 3, 2022, at 8:30 a.m. (ET).

* * * * *

[center]Facilities for Sensory Impaired[/center]

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

-- -- -- -- -- --

progree

(10,911 posts)
8. Labor Force Particpation Rate (prime age 25-54) Apr 2019: 82.3%, Apr 2022: 82.4%
Fri May 6, 2022, 08:50 AM
May 2022

Interesting. So much for the meme of depressed labor force participation -- once one adjusts for age

LFPR - Labor Force Particpation Rate (prime age 25-54) by gender
All: http://data.bls.gov/timeseries/LNS11300060
Men: http://data.bls.gov/timeseries/LNS11300061
Women: http://data.bls.gov/timeseries/LNS11300062

progree

(10,911 posts)
13. Odd, because the labor force fell by 363,000 in April
Fri May 6, 2022, 12:33 PM
May 2022

April changes

Labor Force: -363,000

Employed: -353.000  < - notice the big difference with the headline nonfarm payrolls number +428,000

Unemployed: -11,000

# Labor Force in thousands http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth
The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count)

# Employed in thousands http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth

# Unemployed in thousands https://data.bls.gov/timeseries/LNS13000000?output_view=net_1mth

doc03

(35,361 posts)
9. That is great. But I saw a poll recently that said 7 out of 10 Americans think the economy is bad.
Fri May 6, 2022, 09:20 AM
May 2022

By the Fed raising interest rates I think this fall we are going to have the worst of both. The economy will
be in recession and inflation will still be high. Stagflation they called it in the 70s. We are going to have
people that lost their job or are afraid of losing their job voting. Then worse yet inflation hurts every person
even if you have a good job especially people on fixed income. It is going to be ugly this November.

Botany

(70,552 posts)
11. From today's NY Times
Fri May 6, 2022, 09:26 AM
May 2022


Today, my colleague German Lopez looks at President Biden’s low approval rating, and his struggles to get Americans to believe government can work again. — David Leonhardt


A failure to deliver
Shortly after taking office, President Biden called on the government to do better. “We have to prove democracy still works,” he told Congress. “That our government still works — and we can deliver for our people.”

Most Americans seem to believe Biden has not done so: 42 percent of Americans approve of his job performance, while 53 percent disapprove, according to FiveThirtyEight’s average of polls.

In today’s newsletter, I want to use Covid as a case study for how Biden failed to persuade Americans that the government delivered and instead cemented perceptions that it cannot.

Polling suggests that Covid — not the chaotic U.S. withdrawal from Afghanistan — jump-started Biden’s political problems. His approval rating began to drop in July, weeks before the withdrawal.

Botany

(70,552 posts)
10. More jobs and better pay .... Joe Biden is the best President of my lifetime
Fri May 6, 2022, 09:20 AM
May 2022

But the media will still keep selling economy in crisis, the republicans will win in the fall, and
Joe Biden is in trouble.

progree

(10,911 posts)
12. Dow down 415 at 947 AM ET (17 min after the open). That's 1.26%, S&P 500 down 1.48%
Fri May 6, 2022, 09:49 AM
May 2022

Worried that the good jobs report gives the Fed more ammo to do more tightening?

Edited to add: apparently so, this is the latest song-and-dance on the market:

https://finance.yahoo.com/news/stock-market-news-live-updates-may-6-2022-221420553.html

The jobs report was stronger than expected (380,000 jobs were expected, vs. 428,000 "actual" )

progree

(10,911 posts)
14. Productivity decreases 7.5% in Q1 2022; unit labor costs increase 11.6% (annual rates)
Fri May 6, 2022, 12:50 PM
May 2022

Yesterday's little-noticed productivity report, thanks mahatmakanejeeves
https://www.democraticunderground.com/111693192

(All quarterly percent changes in this release are seasonally adjusted annual rates.)

. . . Unit labor costs in the nonfarm business sector increased 11.6 percent in the first quarter of 2022, reflecting a 3.2-percent increase in hourly compensation and a 7.5-percent decrease in productivity


I bolded that 3.2 percent in hourly compensation because the other two numbers are in the headline. (Remember these are annualized numbers).

These are horrible numbers.

Perhaps caused in large part by:

Shipping delays are back as China's lockdowns ripple around the world, May 6, 2022
thanks mahatmakanejeeves
https://www.democraticunderground.com/111693196

mahatmakanejeeves

(57,570 posts)
16. Links to earlier reports:
Wed Jun 1, 2022, 11:27 AM
Jun 2022

Last edited Fri Jun 3, 2022, 07:58 AM - Edit history (2)

Fri May 6, 2022: Links to earlier reports (this one):

Wed May 4, 2022: Links to earlier reports:

Fri Apr 1, 2022: Links to earlier reports:

Wed Mar 30, 2022: Links to earlier reports:

Fri Mar 4, 2022: Links to earlier reports:

Wed Mar 2, 2022: Links to earlier reports:

Fri Feb 4, 2022: Links to earlier reports:

Wed Feb 2, 2022: Links to earlier reports:

Wed Jan 12, 2022: Links to earlier reports:

Wed Jan 5, 2022: Links to earlier reports:

Sat Dec 4, 2021: Links to earlier reports:

Wed Dec 1, 2021: Links to additional earlier reports:

Fri Nov 5, 2021: (I had to split the links into two posts, due to "Forbidden 403" issues)

Links to earlier reports:

Links to additional earlier reports:

Wed Nov 3, 2021: Links to earlier reports:

Fri Oct 8, 2021: Links to earlier reports:

Wed Oct 6, 2021: Links to earlier reports:

Fri Sep 3, 2021: Links to earlier reports:

Thu Sep 2, 2021 (in the Friday, August 6, BLS thread): Links to earlier reports:

Wed Aug 4, 2021: Links to earlier reports:

Sat Jul 10, 2021: Links to earlier reports:

Wed Jun 30, 2021: Links to earlier reports:

Fri Jun 4, 2021: Links to earlier reports:

Thu Jun 3, 2021: Links to earlier reports:

Fri May 7, 2021: Links to earlier reports:

Wed May 5, 2021: Links to earlier reports:

Fri Apr 2, 2021: Links to earlier reports:

Wed Mar 31, 2021: Links to earlier reports:

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[center]Past Performance is Not a Guarantee of Future Results.[/center]

Bureau of Labor Statistics, for employment in April 2022 (this one):

April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6%

ADP® (Automatic Data Processing), for employment in April 2022 (this one):

U.S. Companies Added 247,000 Jobs in April, ADP Data Show

Bureau of Labor Statistics, for employment in March 2022:

U.S. economy adds 431,000 jobs in March

ADP® (Automatic Data Processing), for employment in March 2022:

Private payrolls rose by 455,000 in March, topping expectations: ADP

Bureau of Labor Statistics, for employment in February 2022:

February jobs report: Payrolls rise by 678,000 as unemployment rate falls to 3.8%

ADP® (Automatic Data Processing), for employment in February 2022:

Private payrolls rose by 475,000 in February, topping expectations: ADP

Bureau of Labor Statistics, for employment in January 2022:

January jobs report: Payrolls jump by 467,000 as unemployment rate rises to 4.0%

ADP® (Automatic Data Processing), for employment in January 2022:

Companies unexpectedly cut 301,000 jobs in January as omicron slams jobs market, ADP says

Bureau of Labor Statistics, for employment in December 2021:

December jobs report: Payrolls rise by 199,000 as unemployment rate falls to 3.9%

ADP® (Automatic Data Processing), for employment in December 2021:

December private payrolls rose by 807,000, far exceeding expectations: ADP

Bureau of Labor Statistics, for employment in November 2021:

U.S. economy adds just 210,000 jobs in November

ADP® (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

ADP® (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

Bureau of Labor Statistics, for employment in October 2021:

October jobs report: Payrolls grew by 531,000 as unemployment rate fell to 4.6%

ADP® (Automatic Data Processing), for employment in October 2021:

October private payrolls rose by 571,000, topping expectations: ADP

Bureau of Labor Statistics, for employment in September 2021:

Yahoo Finance September jobs report: Economy adds back disappointing 194,000 jobs, unemployment rate

ADP® (Automatic Data Processing), for employment in September 2021

September private payrolls rose by 568,000, topping estimates: ADP

Bureau of Labor Statistics, for employment in August 2021:

August jobs report: Payrolls rise by disappointing 235,000 while unemployment rate falls to 5.2%

ADP® (Automatic Data Processing), for employment in August 2021:

August private payrolls rose by 374,000, missing estimates: ADP

Bureau of Labor Statistics, for employment in July 2021:

July jobs report: Economy adds back 943,000 payrolls, unemployment rate falls to 5.4%

ADP® (Automatic Data Processing), for employment in July 2021:

Private payrolls rose by 330,000 in July, missing estimates: ADP

Bureau of Labor Statistics, for employment in June 2021:

U.S. economy added 850,000 jobs in June as labor market showed renewed strength

ADP® (Automatic Data Processing), for employment in June 2021:

Private payrolls increased by 692,000 in June, beating expectations: ADP

Bureau of Labor Statistics, for employment in May 2021:

U.S. economy adds 559,000 jobs in May, as the recovery shows signs of strength

ADP® (Automatic Data Processing), for employment in May 2021:

Private-sector employment increased by 978,000 from April to May, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in April 2021:

Economy picked up 266,000 jobs in April, fewer than expected as economy tries to rebound

ADP® (Automatic Data Processing), for employment in April 2021:

Private-sector employment increased by 742,000 from March to April, on a seasonally adjusted basis.

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