One of These Is Not Like the Others: Employment
Original Report
What to expect in the February release. Figure 1: Official BLS nonfarm payroll employment (bold black), official BLS private nonfarm payroll (dark red), ADP private nonfarm payroll employment (light...
What to expect in the February release. Figure 1: Official BLS nonfarm payroll employment (bold black), official BLS private nonfarm payroll (dark red), ADP private nonfarm payroll employment (light red), civilian employment adjusted to NFP concept, 3 month centered moving average (light green), change since 2025M01, in 000’s s.a. Source: BLS, ADP via FRED, BLS, […]
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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