The U.S government releases a monthly report called the Employment Report which shows the condition of the labor market. This is nothing but a way of knowing how much employment is increasing, and the market is improving in terms of the number of jobs.
But still there is a good percentage of people who don’t know how to analyse this Friday’s Jobs Report. This article will help you in understanding this basic thing.
Things to Consider for Friday’s Employment Report
During the tenure of the Mr. Barack Obama, America was producing 1,87,000 jobs on a monthly average. But now, with the Donald Trump’s undertaking, the average has fallen down to 1,62,000 jobs in a month. Currently, we are expecting to see a 1,72,000 jobs getting added to the payrolls.
Following are the points that you need to check once the Employment Report is released.
a) Rate of Unemployment
This is the key element for which the Employment Report has been generated. You will get to know how many people are turning jobless comparing the number with the past employed people. When we say a percentage of the people is unemployed, then it is always in the relation to the employed people.
Also, the lack of skillful workers affects the unemployment rate too.
b) Sale Reports
Did you know almost 51K people have lost their jobs due to the reduction in the retail sector?
This is because of the rise in online shopping which has led many people to give in retail stores. Because of which, people are closing down the shops due to the low business. The recent Amazon-Whole Foods deal stands as a strong example which shows the increase in the online business.
c) Is the Factory Focus going right?
Umm.. well Factory Focus is a subjective thing altogether still it points to a specific info only. According to the changes happening around in the market based on the technology and market updates, you may experience a whole new reform in the way people are recruited and assigned the job.
For example, with the rise in the technology, the number of job creation has reduced. Machines do the job, and the manpower has declined. This results in the decrease in the vacancies and eventually reflects in the Employment Report.
d) Wage Growth
That’s an easy term there. But when we talk for a billion population, the analysis and understanding the wage revisions take a whole new dimension. The recent reports have not shown much rise in the Wage Growth, even though the unemployment rate is reduced to 5% than the previous report.
So, these 4 Key Elements are the things that matter the most in the Employment Report. Hope you guys enjoyed reading it throughout! Share among your friends.