BLS Statistics for June

invisible hand

It has been said, “a picture is worth a thousand words.”

Forms of this phraseology can be traced back to 1911 with newspaper editor Tess Flanders discussing journalism and publicity. A Piqua, Ohio company (“Piqua Auto Supply House”) also used a form of it in an advertisement. I consulted in Piqua in the eighties. A sleepy town along I75 having a large, what-was-once a 19th – 20th century hotel and now renovated historical attraction (Fort Piqua) midtown. “San Antonio Light” used the phrase as one of their advertisements in 1918. Many times were a lengthy explanation replete with numeric can not get the explanation across, a picture is more apt to display the underlying meaning of your thoughts.

Ken Roberts, a student at Rhode Island School of Design (RISD) who is interning at Personal Income depicts the most recent BLS report statistics in one picture for Angry Bear readers. Make sure you click on the graphic (twice) to get a better view of Ken’s graphic and work.

Even with nonfarm payroll employment increasing by 287,000 in June, U3 increased by two tenths to 4.9 while Participation Rate increased one tenth indicative of more people entering the Civilian Labor Force looking for work. The entry of more people into the market looking for jobs resulted in the increased U3. Nothing has occurred to be excited about as the Labor Market has an excess of underemployed and unemployed workers. Great for employers even with slowly increasing Labor wages. Some may depict a tightening of the market has caused the increase rather than accept this as a correction for the years of stagnation and a decreased Labor wage. There is still a large capacity of Labor from which companies can draw from and train if they choose to do so which would offset increased Labor costs in hiring.