First Readings on March Data, and Business Cycle Indicators
Original Report
BLS and ADP data are among the first measurements of economic activity in March, after the war’s start. Figure 1: Nonfarm payroll (NFP) employment preliminary benchmark revision (thin blue), NFP...
BLS and ADP data are among the first measurements of economic activity in March, after the war’s start. Figure 1: Nonfarm payroll (NFP) employment preliminary benchmark revision (thin blue), NFP employment (bold blue), civilian employment with smoothed population controls (bold orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold light green), manufacturing and […]
Glass House Analysis
Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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