Richard Schumacher

IT Pro, web, eLearning, visual media professional.

[NASA @NASA]

After a journey of nearly 3.9 billion miles, the #OSIRISREx asteroid sample return capsule is back on Earth. Teams perform the initial safety assessment—the first persons to come into contact with this hardware since it was on the other side of the solar system.

[Guy Berger @EconBerger]

"̶A̶m̶e̶r̶i̶c̶a̶n̶s̶ ̶d̶o̶n̶'̶t̶ ̶w̶a̶n̶t̶ ̶t̶o̶ ̶w̶o̶r̶k̶ ̶a̶n̶y̶m̶o̶r̶e̶"̶

On the eve of the August BLS jobs report, the share of prime working age Americans with a job is the highest it's been in 22 years and only 1 percentage point away from the all time record.

[Richard Schumacher @TechInitiatives]

The ten largest 4-digit NAICS manufacturing industries all experienced increasing total factor productivity in 2021. Output rose in seven of these industries and declined in three industries including aerospace products and parts (-2.9 percent).

[BLS-Labor Statistics @BLS_gov]

Total factor productivity up in 78 of 86 4-digit NAICS manufacturing industries in 2021 https://t.co/STEWdI6kJs #BLSdata

[Guy Berger @EconBerger]

JOLTS Thread:

1/ This, to me, is the essential feature of "near-immaculate" labor market cooling since late 2021: driven by falling hiring, not by rising layoffs.

If anything, in recent months layoffs have declined in importance even as hiring continued to moderate.

[BLS-Labor Statistics @BLS_gov]

Labor force participation increased by education level for baby boomers born from 1957 to 1964 https://t.co/gH5FEdXTsq #BLSdata

[Nick Bunker @nick_bunker]

The Great Resignation is behind us, and the path to a soft landing remains open. A big JOLTS report on several fronts

Here's the July 2023 #JOLTS Thread:

[Nick Bunker @nick_bunker]

The Great Resignation is behind us. And that might not be an entirely bad thing.

https://t.co/mUkCevUMgb

[Scott Duncan @ScottDuncanWX]

Immense winter heatwave in South America.

45.0°C in Bolivia 🇧🇴 ties the warmest temperature ever recorded in the entire Southern Hemisphere winter.

41.9°C breaks the national record in Paraguay 🇵🇾 for the month of August

[St. Louis Fed @stlouisfed]

We often hear about inflation, but what about “disinflation” or “deflation”? Those lesser-known terms describe different aspects of changes in prices. Our blog post explains: https://t.co/11K59b2GWj

[Richard Schumacher @TechInitiatives]

The latest data from the Indeed Wage Tracker shows posted wages grew at a 4.7% annual rate in July, down from 5.8% in April and 8% last July. Based on the current pace, posted wages are likely to return to their average pre-pandemic growth rate between October and December.

[Nick Bunker @nick_bunker]

Some good news for Jay Powell and other Jackson Hole attendees: posted wage growth keeps trending down https://t.co/KVDOFDX4Fp

[Jeff Berardelli @WeatherProf]

A testament to how extreme & overwhelming the climate is this summer is, this Record “Shattering” heat dome has been barely covered by the national media. It’s largest US heat dome in recent memory and in a large part of the nation’s middle the most intense, by a long shot. 1/

[St. Louis Fed @stlouisfed]

Which economic indicators do you care about most? For St. Louis Fed social media followers, measures of GDP, the labor market and financial market stress have been among the most popular in the first half of the year https://t.co/4VoDPjA6kj

[Richard Schumacher @TechInitiatives]

Missouri unemployment rate for June was 2.7%, up from 2.2% a year ago.

[BLS-Labor Statistics @BLS_gov]

See our interactive graphics on today’s new #BLSdata on state #employment and #unemployment https://t.co/V1lQcA9ulf #DataViz

[Richard Schumacher @TechInitiatives]

Number of Jobs, Labor Market Experience, Marital Status, and Health for those Born 1957-1964.
I started doing freelance (photography and later desktop computers) work when I was 16, and then was employed in education for 39 years by one employer. Not typical for my age group.

[BLS-Labor Statistics @BLS_gov]

Individuals born in the years 1957-1964 held 12.7 jobs from ages 18 to 56 https://t.co/HyD6zycEDc #BLSdata

[Richard Schumacher @TechInitiatives]

Missouri Job Openings and Hires are ever so slightly down for this period (-0.3% and -0.5%). Missouri separations and quits also slightly down (-0.3%). Layoffs are slightly up (+0.9%). All of these are not statistically significant changes.

[BLS-Labor Statistics @BLS_gov]

Quits rates down in 16 states, up in 1 state in June 2023 https://t.co/I50fh2TTNv #BLSdata

[St. Louis Fed @stlouisfed]

Restaurants seem busier than ever, but also have more “help wanted” signs than ever. The FRED Blog looks at data that show restaurants are doing more with less https://t.co/5KJmbExIBO

[Nick Bunker @nick_bunker]

This tenacious labor market keeps cruising along.

Job openings still outnumber unemployed workers by a ratio of 1.6 to 1.

The quits rate is still above its pre-pandemic average

The layoffs rate was at 1% for the entirety of Q2, which would have been a pre-pandemic all-time low

[Nick Bunker @nick_bunker]

Low layoffs continue to be key for a soft landing in the US labor market. We got many signs that employers are still holding on to the workers they have.

Every major industry sector reported a layoff rate in June equal to or below its February 2020 level.

[Nick Bunker @nick_bunker]

The US labor market keeps on cruising.

The layoff rate has been equal to or below its pre-pandemic low every month save one since January 2021.

https://t.co/zRsrfEIs3K

[Guy Berger @EconBerger]

I'm back from vacation!

This bit of data from Friday's BLS report caught my eye - the impact of layoffs on the labor market is fading.

In July, the share of unemployed whose reason is "permanent layoff" was the lowest since February. Still a little higher than a year ago.