Thursday, February 05, 2015
Tweet[IWS] THE STATE OF THE U.S. LABOR MARKET: PRE-FEBRUARY 2015 JOBS RELEASE [5 February 2015]
IWS Documented News Service
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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Center for American Progress (CAP)
THE STATE OF THE U.S. LABOR MARKET: PRE-FEBRUARY 2015 JOBS RELEASE [5 February 2015]
By Michael Madowitz & Danielle Corley
[excerpt]
Since the end of the Great Recession, the economy has added 9.4 million jobs, and the unemployment rate has fallen from 10 percent to 5.6 percent. The labor market is much healthier today than at any point since the Great Recession, but beneath the top-line numbers, it still has a long way to go before it returns to historically healthy conditions. Last year, the Federal Reserve tacitly acknowledged the widening gap between the reality of the labor market and its most well-known measures by switching from a quantitative unemployment threshold to more comprehensive “measures of the labor market” in its forward guidance. The question, then, is this: What is happening with these broader labor-market indicators the Federal Reserve is looking at? Here’s a quick tour of the most important jobs data you should see in the headlines but rarely do.
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