Job Market

Job Market

OverviewAlternative measures of the job market together provide different insights into the job marketSources of Data:Establishment Survey: nonfarm payrolls, etc.Household Survey: unemployment rate, etc.Understand the behavior of the job market during previous recessions and recoveries

Unemployment and InflationNAIRU (aka natural rate)Includes frictional and structural unemployment (not due to recessions)Provides a benchmark for the job marketUnemployment differing from NAIRU affects compensation, thus affecting cost pressures that impact inflation