-
-
-
-
CIO Insights are written by Angeles' CIO Michael Rosen
Michael has more than 35 years experience as an institutional portfolio manager, investment strategist, trader and academic.
RSS: CIO Blog | All Media
Jobs, Jobs, Jobs
Published: 02-06-2015The US economy is stronger than we think: 257,000 net new jobs in January, but another 404,000 jobs were “found” (due to a recalculation) in November and December. More than 140 million are currently employed, a record high (see Chart below).
The unemployment rate is 5.7%, but if we include part-timers and discouraged, that percentage rises to 11.3%. Way too high, but making progress (see Chart below).
One of the details in the data is the number of people quitting their jobs: 9.5% of the unemployed quit their jobs, the highest percentage since 2008. This is a datum only a wonk (or a Fed Chair—Janet Yellen has singled out this number as particularly meaningful for her) could love, as it presumably shows a higher confidence among voluntary quitters that they will find another job.
There’s always lots of noise in the data, but the US economy, if not humming, is certainly chugging along.
Print this ArticleRelated Articles
-
4 May, 2015
Skyscraping
In 2009, there were 19 buildings in the world with heights above 1,000 feet (305 meters for the non-American readers). ...
-
2 Jun, 2017
Job Growth is Falling. The Sky is Not.
Today's jobs report was disappointing: only 138,000 net new jobs created in May (the consensus had it pegged at ...
-
20 Jun, 2023
Beach Reading
Most of you know that I don't favor romance novels for reading on the beach (or anywhere else, for that matter, although ...
-