All Posts Tagged: BLS

U.S. Outlook: Job growth starts second quarter with a bang

Scott Anderson
Chief Economist

Job growth heated up in April as nonfarm payrolls increased a stronger than forecast 263,000 jobs, the best month for U.S. job growth since January.

Line of job applicants

The upside jobs surprise will keep the economic growth slowdown fears at bay for a while longer and starts the second quarter off on solid footing. This was a good week for the U.S. economy with big upside surprises on both productivity and job creation.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on May 3.

Key observations:
  • Job gains last month were broad-based and led by professional and business services (+76K), education and health care (+62K), leisure and hospitality (+34K), construction (+33K), and government (+27K).
  • Retail trade jobs declined by 12K in April and have been dropping now for three consecutive months. Manufacturing job growth has also been sputtering, increasing by only 4K jobs in April after being flat in March. Information jobs declined by 1K last month.
  • The unemployment rate dropped another two-tenths of a percentage point to 3.585% last month, hitting a new expansion low and reaching a new 49-year low milestone.
  • More people are leaving the labor force. The labor force plunged by 490K in April and has declined by 770K since January. The labor force participation rate was at 63.2% in January, but has slipped to 62.8% in April.

Read my full report.

April jobs gaints

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U.S. Outlook: Job growth bounces back in March

Scott Anderson
Chief Economist

Job growth may have bounced back in March, but our chief economist cautions against an exuberant celebration of the positive numbers. Find out why in his U.S. Outlook

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U.S. Outlook: Moderate job growth continues in January

Scott Anderson
Chief Economist
Busy, crowded street scene in Times Square, NYC

Will moderate growth continue? Scott Anderson analyzes the economic data in this week’s U.S. Outlook.

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U.S. Outlook: On the hunt for a better job

Scott Anderson
Chief Economist
Business man on Wall St. at top of escalator carrying folded newspapers

It is widely known that the U.S. economy is creating new jobs at a rapid pace. Since the expansion started, the economy has added nearly 20 million jobs.

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U.S. Outlook: Economy keeps cranking out new jobs

Scott Anderson
Chief Economist
Young professionals in coworking space.

The August employment report looks pretty sweet on the surface.

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