U.S. Outlook: The labor market through a different prism

Scott Anderson
Posted by Scott Anderson
Chief Economist

Through the lens of the March jobs report, the U.S. labor market recovery continues unabated. But what are other labor market indicators telling us about the current health and future state of the jobs market?

graph showing growth and loss trends in job openings for past several years.Several indicators already point to a more subdued future for U.S. job growth.

For more details, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on April 8.

Key observations:
  • The Fed’s recently designed comprehensive labor market conditions index (LMCI) was negative for the third consecutive month in March.
  • On a more positive note, the unemployed-to-job openings ratio has once again returned to its pre-recession low.
  • It will be difficult for hiring to maintain its recent pace in the months ahead in the face of somewhat lower job openings, which fell to 5.44 million from an upwardly revised 5.6 million in January.
Click here to read my full report.

Reminder: All comments are moderated prior to publication and must follow our Community Guidelines.

  • Anonymous says:

    Dear Mr.Anderson, I just started reading your articles on finance and the economy. I find them interesting and sometimes spot on. I however have a question. If we are indeed entering our 4th industrial revolution and the skill set is so mismatched then what would be the corrective course? What skills will be needed in the future? My skills as a mechanic are constantly changing and updated on a weekly and sometimes daily basis. But my wife who has been in retail for over 30 years what does she do? or people in similar situations? Thank you and best regards Robert Walker

    Reply | 4 years ago

Submit an Idea

[contact-form-7 id="32" title="Share An Idea"]

You are leaving the Bank of the West Change Matters site. Please be aware: The website you are about to enter is not operated by Bank of the West. Bank of the West does not endorse the content of this website and makes no warranty as to the accuracy of content or functionality of this website. The privacy and security policies of the site may differ from those practiced by Bank of the West. To proceed to this website, click OK, or hit Cancel to remain on the Bank of the West Change Matters site.