The radio audience is often interested in labor market matters such as wages and employment. The September “Employment Situation” from the Bureau of Labor Statistics (available here) makes it clear COVID adjustments still impact the data. We need to confront not just sharp breaks in the data series, but actual changes in preferences for work and other structural adjustments. This situation is not likely to fully resolve itself anytime soon.
I find it helpful, usually, to compare the North Dakota data to the broader US picture at these times. The two, while often telling similar stories, are not often telling identical stories.
For each data series I include the actual data and a smoothed series (loess method). The recent data make it clear there is a significant downwardRead More »