- by New Deal democratThis is the week I highlight further information from last Friday’s jobs report. One thing that struck me is that we’ve now had two months of declines in manufacturing jobs. This is something I have been anticipating since about the middle of last year, because the manufacturing work week had been declining significantly, and it has a reliable 80+ year history of leading manufacturing jobs. Here’s the entire history measured as YoY% changes: The manufacturing work week is down -1.4% YoY. So in the next two graphs I’ve added +1.4% to that number so that it is exactly equal to the zero line. Here is that data split up into two 40 year intervals: There has literally *never* been a time, in all of that 80 year history, when hours have been down this much
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- by New Deal democrat
This is the week I highlight further information from last Friday’s jobs report.