The Gospel of BLS hath been spoke:
Both the unemployment rate, at 4.3 percent, and the number of unemployed people, at 7.2
million, changed little in March. These measures also changed little over the year.
Among the major worker groups, the unemployment rate for people who are Asian (3.7 percent) decreased in March. The jobless rates for adult men (3.8 percent), adult women (4.0 percent), teenagers (13.7 percent), and people who are White (3.6 percent), Black (7.1 percent), or Hispanic (4.8 percent) showed little change over the month.
The number of long-term unemployed (those jobless for 27 weeks or more) changed little at 1.8 million in March but is up by 322,000 over the year. The long-term unemployed accounted for 25.4 percent of all unemployed people in March.
The two useful metrics we like to dig into are what’s in the database: and turns out, when we look there, total employment is down both month-on-month and compared with year ago levels:
The other number is the CES Birth-Death Model – where jobs are estimate into – and out of – existrence.
The truth is hard to suss out. The press room claim is higher, the database says lower, but at the same time, the “made up/CES number” removed, 47,000 jobs.
We’re left thinking of the result as an economy not sure which way it’s going: to war, to peace, to some bright new tech future.
It’s a hard keetle of fish eto smell right before Easter – maybe a good thing the market has the day off.
Global market picture is muddied, too. England is up a bit, but the rest of Europe has gone Coriolis. Gold and silver were down, but not too much. Likewise, BTC was hanging in the mid $55,000s trying to figure out where buyers will come from, too.
Let’s see if any Global Distraction/aliens come from the Artemis flight – which has center stage now with the stock market down for the three day weekend.
Back to plant shrubs and write when you get rich.
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