An unemployment report is published every month. Almost every month, analysts find some good news and some bad news in detail.
In the latest report The good news for September is that the unemployment rate dropped from 5.2% in August to 4.8%. The bad news was that about 338,000 people left the workforce and the rate dropped. This means they aren’t interested in working now.
The number of retired workers far exceeded the number of newly created jobs. In September, only 194,000 new jobs were added to the economy. This is the lowest number since December 2020, down 46% from the number of jobs added in August.
Unemployment reports show a steady decline in part-time work
Good news and bad news capture headlines, but every unemployment report also contains surprises. Among them is the fact that the long-term trend of part-time employment is declining.
Part-time job from 2012
A popular scenario is that there are no good jobs available. Companies are hiring part-time workers with a focus on revenue to avoid paying benefits. As the graph above shows, the data is another story, which has been going on every month for over a decade.
The monthly employment report includes the number of workers who work part-time but want to work full-time. In September, there were 975,000 workers in that category. This is a 65% decrease in 10 years.
Companies have hired more full-time workers for years. NS Popular story It wasn’t true for some time that there were only part-time jobs available. As may be the case, the data show that companies are having a hard time finding enough full-time workers.
Employment reports are always surprising, but there is always good and bad news. The best way to analyze it is to focus on whether the good news outweighs the bad news.
In the latest reports, the good news far outweighs the bad news. Economy Stay on the right track.
Michael Carmichaelthat is Editor One trade,Peak speed traderWhenPrecision profit.. He teaches technical and quantitative technical analysis at the New York Institute of Finance. Mr. Kerr is also a former editor of the CMT Association newsletter.Technically speaking..
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A Big Story Is Hidden in the Unemployment Report Source link A Big Story Is Hidden in the Unemployment Report