Jobs and Unemployment

Alan Greenspan’s legacy is mixed; he defied conventional wisdom on unemployment and inflation, but he badly mishandled two major bubbles. 

New labor market data show that mass deportation has not produced the promised employment gains for native-born workers, reflecting the complementary role many immigrants play in the economy.

Five key takeaways from the May jobs report include stronger-than-expected job growth, slowing real wages, worker caution about changing jobs, and little evidence that AI is reducing employment.

Despite some anomalies, the overall jobs picture looks positive, but that could change if the war continues and oil prices stay high.

The overall labor market story is somewhat positive; however, if wage growth continues to lag inflation, consumer demand will not be able to sustain growth going forward.

The latest JOLTS report’s jump in job openings is likely an anomaly, as declining hiring and worker turnover point to a softer labor market.

April construction data show factory building continuing to decline, marking a sharp reversal from the historic manufacturing investment boom fueled by Biden-era legislation.

The low employment rate for Black men cannot be explained by  a lack of hard skills or soft skills. Anti-Black discrimination is the most likely explanation for this disparity.

A new CEPR issue brief examines economic and social developments under Colombia’s Gustavo Petro administration and finds that there has been significant progress according to a variety of key indicators.

April job growth remained solid, but slowing wages and weak worker confidence raise concerns about the economy’s direction.