Tag: Labor Force

Booming Jobs Report Masks Uptick in Men Leaving the Labor Force

Admin

Women’s employment increased markedly from June to July, but the total number of employed working-aged men actually dropped in that same time span according to a July jobs report released Friday.

There were 170,000 fewer employed men in July than June, whereas 349,000 more women were employed in July, according to Yahoo Finance. Women’s unemployment dipped to 3.1% in July from 3.3% in June while the same figure for men remained steady at 3.2% from June, the Bureau of Labor Statistics’ July 2022 Employment Situation report found.

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Commentary: Falling Unemployment Rate Is Entirely Due to Minnesotans Leaving the Labor Force

Minnesota Sun Staff
man in yellow hardhat and work jacket

‘Minnesota job growth outpaces US, unemployment at 3.3%‘– Duluth News Tribune

‘Jobless rate in Minn. hits pre-pandemic level‘ – MPR News

‘Minnesota jobless rate falls to 3.3%, lowest since pre-pandemic‘ – Fox 9

‘Minnesota Unemployment Rate Fell in November‘– Twin Cities Business

(Center of the American Experiment) — These were some of the headlines in Minnesota’s media covering the monthly jobs data from the Bureau of Labor Statistics (BLS). They paint a pretty rosy picture. So what was the Minneapolis/St. Paul Business Journal reporting with this headline: ‘Minnesota unemployment rate continues to drop, but labor force concerns grow‘?

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Commentary: The Unemployment Rate Does Not Offer Guidance Now

RealClearWire

The Labor Department’s official unemployment rate—the most well-known gauge of the labor market’s health—counts as unemployed only those who aren’t working but are actively seeking a job.

Yet there is very little that we can infer from the jobless rate about the health of the economy.  The unavoidable conclusion is that the only reason investors follow the calculation is because both Washington’s politicians and the Federal Reserve are expected to react to it.

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