U.S. jobs growth

Unexpected Leap in U.S. Employment Last Month Dominates Friday’s News

December 6, 2019

U.S. non-farm payroll jobs increased 266k in November. Not since January had NFP risen so sharply, and the rises in September-October were revised upward by a combined 41k as well. Even with the resolution of the GM strike, these figures dwarfed expectations. Moreover, the jobless rate fell back 0.1 percentage point to a multi-decade low […] More

Level of U.S. Employment Still Under Historical Trendline

March 12, 2018

The growth of U.S. nonfarm payroll employment in the 1980s (i.e. between December 1979 and December 1989) was 1.841% per annum or virtually identical to the 1.837% per year pace in the ensuing 1990s. The similarity of those figures covering the final fifth of the twentieth century establishes a long-term trendline entering the current century. […] More

Latest U.S. Labor Market Trends

May 8, 2015

The pace of labor market recovery has slowed in several respects. The percentage rise in nonfarm payroll employment over the first four months of 2015, 1.66% at an annualized rate, was slower than its advances during the first third of 2014, 2013, 2012, and 2011. Nonfarm payroll jobs increased less during the three months to […] More

The Day After

August 1, 2014

One day after share prices hit an air pocket, investors received a lot more high-profile economic news including the U.S. July Labor Department report on jobs and unemployment and numerous manufacturing purchasing manager surveys, also for July. Back to form, the dollar hasn’t moved much further.  The greenback has changed most against sterling, +0.3%, and […] More

All You Need to Know about U.S. Nonfarm Payroll Employment Growth

February 7, 2014

The bird’s eye view of jobs growth over the past 34 years shows an extremely adverse deviation from trend after Y2K.  During the first 20 years between January 1980 and January 2000, employment rose at an annual rate of 1.82%, with practically identical rates of climb in each decade of that span.  Over the next […] More

Guarded Optimism After European Service PMI Releases and Ahead of U.S. Labor Report

February 3, 2012

The dollar is mostly marking time, with gains of 0.3% against the kiwi, 0.2% versus the Aussie dollar and 0.1% relative to the loonie, no change against the yen and yuan, and dips of 0.1% against the euro, Swissie, and sterling. Pacific rim equities were mixed.  Share prices rose 0.8% in China, 1.0% in India, […] More