Tag Archive: current employment situation

Reality Beckons: Even Bigger Payroll Gains, Much Less Fuss Over Them

What a difference a month makes. The euphoria clearly fading even as the positive numbers grow bigger still. The era of gigantic pluses is only reaching its prime, which might seem a touch pessimistic given the context. In terms of employment and the labor market, reaction to the Current Employment Situation (CES) report seems to indicate widespread recognition of this situation. And that means how there are actually two labor markets at the moment.

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What Did Everyone Think Was Going To Happen?

Honestly, what did everyone think was going to happen? I know, I’ve seen the analyst estimates. They were talking like another six or seven perhaps eight million job losses on top of the twenty-plus already gone. Instead, the payroll report (Establishment Survey) blew everything away, coming in both at two and a half million but also sporting a plus sign.The Household Survey was even better, +3.8mm during May 2020. But, again, why wasn’t this...

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