News about jobs

Unemployment Insurance Weekly Claims Initial claims were 208,000 for the week ending 4/27, unchanged from the previous week's revised level. Insured unemployment was 1,774,000 for the week ending 4/20, unchanged from the previous week's revised level. www.dol.gov/ui/data.pdf pic.twitter.com/Bl5shaUi5c

Job openings and quits both fell in March as a wide range of labor market indicators are consistent with a cooling economy--and a labor market that, broadly, is like where it was in 2019--with lower quits but higher openings (with a question of whether openings were trending up). pic.twitter.com/6fjPOvlGBB

The ECI came in well above expectations. And also an increase in wage growth for my preferred metric, private workers ex incentive occupations seasonally adjusted (a mouthful, and unfortunately not published by BLS). Up at a 4.2% annual rate in the first three months of the yr. pic.twitter.com/8ELEcciuBP

The job openings rate peaked at 7.4% in March 2022. Over the next two years, it fell 2.3 percentage points. Over that same time period, unemployment has risen only 0.2 percentage points. That's unprecedented. Life's good on the steep part of the Beveridge Curve. 🧵 pic.twitter.com/zHUpoRGssV