Despite impressive job growth, labor market slack remains.
The employment level continues to flatline (total and prime age)
edi.bard.edu/research/notes/
The employment level continues to flatline (total and prime age)
edi.bard.edu/research/notes/
Labor market flows indicate a slowdown.
We watch a few ratios that tell us the distribution of who gets jobs:
fewer people who were outside the labor force and slightly more who were officially unemployed (this ratio dipped for the first time in 2 years)
We watch a few ratios that tell us the distribution of who gets jobs:
fewer people who were outside the labor force and slightly more who were officially unemployed (this ratio dipped for the first time in 2 years)
Third, under-employment remains elevated.
Finally, despite a falling unemployment level, the number of workers not-in-the-labor-force but who want a job (NLF-WJ) has been increasing.
In July, NLF-WJ OUTNUMBERED the officially unemployed for the first time in the series' history.
In July, NLF-WJ OUTNUMBERED the officially unemployed for the first time in the series' history.
The economy is not at full employment and there is plenty of labor market slack.
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