Chart of the Week: Unemployment by Duration

Fed officials have pointed to their “data dependence” regarding decisions about future rate cuts. These November employment data support a cut at the December meeting and MBA forecasts that the Fed will continue to reduce short-term rates in 2025, although they are likely to slow the pace of cuts.

Unemployment Rate Increases But Remains Low

The unemployment rate increased in February for the first time since last summer, the Bureau of Labor Statistics reported Friday. But it remains low by historical standards at 3.9%.

Economy Adds 209,000 Jobs in June

Nonfarm employment increased by 209,000 in June, but the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported Friday.

May Employment Up 559,000; Unemployment Rate Drops to 5.8%

Total nonfarm payroll employment rose by 559,000 in May, the Bureau of Labor Statistics reported Friday—up substantially from May’s tepid numbers but still below consensus expectations, as hiring slowly recovers from the coronavirus pandemic.

Unemployment Insurance Claims Jump Back Above 1 Million

Americans filing initial unemployment claims jumped back above one million for the week ending Aug. 15, the Labor Department said, suggesting a more difficult climb out of the economic hole triggered by the coronavirus pandemic.

Office Sector Woes Continue

Analysts say the pandemic shutdown and millions of job layoffs are weighing heavily on the office sector.

MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate

The economy added a record 4.8 million jobs to nonfarm payrolls in June, bringing the cumulative increase in May and June to one-third of the sharp decreases in March and April. Similarly, the June unemployment rate, at 11.1%, was down 3.6% from its high in April, and labor force participation jumped by 0.7% to 61.5% (1.9% below its pre-coronavirus level in February). However, we are not yet out of the woods.