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Tag Archives: Bureau of Labor Statistics
US Transportation Sector January Unemployment Flat
Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view. Continue reading
Mixed Signals in October US Transportation Employment
The unemployment rate* in the U.S. transportation sector was 4.8% (not seasonally adjusted) in October 2023 according to Bureau of Labor Statistics (BLS). In October 2023, the transportation sector unemployment rate rose 1.1 percentage points from 3.7% in October 2022 and was above the pre-pandemic October 2019 level of 2.7% but still below the October 2020 and October 2021 rates. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020. Continue reading
US December Unemployment at Record Low of 3.5%
Nevertheless, the Federal Reserve seems determined to send the US economy into a deep recession. The Fed has done this in the past with reckless interest rate increases from an ideology that thinks it is good when people lose jobs to keep demand and inflation down. However, consider that during December, average hourly earnings for all employees on private non-farm payrolls rose by 9 cents, or a mere 0.3%, to $32.82. During the past 12 months, average hourly earnings have increased by 4.6%. In December, average hourly earnings of private-sector production and non-supervisory employees rose by 6 cents, or 0.2%, to $28.07. AutoInformed doesn’t consider the latest data as cause for inflationary worries, let alone more interest rate increases. (Autoinformed.com: Federal Reserve Chair Powell Says Inflation Remains Too High) Continue reading
Biden Administration Sets Job Creation Record at 15.7 million
“Too many Americans are still feeling squeezed by the cost of the living. I’m fighting to lower costs by taking on corporate price gouging, capping the cost of insulin and prescription drugs, and calling on Congress to lower rent by building 2 million new homes. Congressional Republicans have a different vision that sides with billionaires and special interests and will supercharge inflation. They’ll impose high consumer tariffs that will cost middle class families thousands of dollars each year, give a giant tax cut to the wealthy, repeal the Affordable Care Act, and allow big corporations to keep ripping off Americans. While they fight for Park Avenue, I’ll keep fighting for working families like the ones I grew up with in Scranton,” said President Biden in a White House statement. Continue reading →