On October 5, 2018, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – September 2018 – which showed that total non-farm employment from the payroll survey rose by only 134,000. The labour force survey measures show that employment growth outstripped the growth in the labour force, which resulted in the unemployment rate declining by 0.2 points to 3.69 per cent. The US labour market is reaching unemployment rates not seen since the late 1960s, although the participation rate is well below the pre-GFC levels and a substantial jobs deficit remains. The employment-population ratio rose by 0.1 points in September. Taken together, the US labour market continued to improve in September but remains some distance from full employment....Bill Mitchell – billy blog
US labour market improves but GFC residue remains
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
1 comment:
Much of the "new" labor force participation is by senior citizens who lost their retirement and can't afford to live without working.
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