Posts tagged payroll jobs
Commentary: More Jobs, Fewer Workers: Is the Labor Market Strong or Weak?
November 5, 2024 // Even after factoring in the BLS’s acknowledgment that its reports overstated job gains by 818,000 from March 2023 to March 2024, there still appears to be about five times as many new jobs created over the past year as there are additional people working. While media reports and markets tend to focus on jobs reports, what matters most to the economy and to human flourishing is how many people are working. Currently only 60.2% of people ages 16 and over in the U.S. are working. This is a gap of about 2.6 million workers compared to pre-pandemic employment rates.