Jared 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.  -CBPP

Payrolls 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, not more jobs (in the households survey from which the unemployment rate is drawn, employment fell)…. Read more

Payrolls 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 and with a long way to go to get back to full employment. Even with the large… Read more

Payrolls 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-term unemployment spiked sharply–in fact, its largest one-month spike on record–and shifts continue from temporary to permanent job losses. In other words, though the labor… Read more

Payrolls 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 their pre-pandemic peak in February and the jobless rate is still more than twice its February rate of 3.5… Read more