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May 2018 Employment Situation Summary May 5, 2018

Posted by geoff in News.
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Once again there was a lot of noise about the BLS’s Employment Situation Summary, which came out yesterday. 3.9% was the official unemployment number, which is nice, but not particularly meaningful (IMHO). The meaningful number is our IB measure of employment health: full-time jobs divided by the civilian non-institutional population. And that number was only slightly improved over the previous month:

FullTimeEmpvsCivPopMay2018Report

The number of employed people barely changed from last month (Household Survey), but 175K part-time jobs turned into full-time jobs. So yay.

Still, a long way to go to get back to 0.51.

Comments»

1. vaitguy - May 6, 2018

Geoff, thanks for putting this together each month along with the manufacturing chart-fu; it’s helped me understand the economy and impacts to it much more than my basic HS education.

2. lauraw - May 6, 2018

That line just looks like struggle.

3. Retired Geezer - May 6, 2018

What vaitguy said. Sorry I don’t want to seem like I take geoff for granite.

He is a stone fox though.

4. geoff - May 6, 2018

Manufacturing chart will come out tomorrow morning. It’s much, much more impressive.


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