US Employment & Labor Market

Initial claims

The chart below shows the jobless claims filed by individuals seeking to receive state jobless benefits. This number is closely watched by analysts as it can provide indicators to the direction of the economy.

Nonfarm payrolls

The chart below shows the change in nonfarm payroll employment. Specifically it is a measure of the number of US workers in the economy that excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to the economy.

Percentage change in nonfarm payrolls

The chart below shows the change in nonfarm payroll employment as a percentage.

Share of gross domestic income

The chart below shows the wages’ share of gross domestic product (GDP). This charts shows that from the 1970s wages have not increased inline with economic growth. This suggests the gains are increasingly flowing towards corporate and owners’ profits and the government. It should be noted that this trend began when President Nixon abandoned the gold standard in 1971.

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