🦧 all about work

💼 on the first friday of each month

the us bureau of labor statistics released its monthly employment situation (for january) summary (aka "nonfarm payrolls) at 8:30am before market open today

• "nonfarm" because it measures the number of workers in the us excluding those in farming, government, non-profits, etc.

✨ the highlights

• jobs growth accelerated in january – 517k new jobs were added, exceeding market consensus (that was 185k) by a huge margin, and is almost double the +260k figure from december

  • these robust gains were led by sectors such as “leisure and hospitality, professional and business services, and health care”

• unemployment rate edged down to 3.4%, lowest ever since 1969, and slightly better than expected (3.6%)

  • number of people not in the labor force who currently want a job was 5.3m, "little changed" from december

😐 the meh’s

• average hourly wage has increased by 4.4% compared to twelve months ago

  • meh, because most recent reading on inflation (total cpi, annualized) came in about 6.5%, which is the classic story of “my wage isn’t catching up with inflation”

• average workweek for those in private nonfarm payrolls rose by .3 hour to 34.7 hours

  • kathy bostjancic (chief economist at nationwide) says: "not only are you hiring more workers but the workers you have overall are working more hours. it doesn't really get stronger than that"

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💡 something im thinking about

california dmv might put car titles on the tezos blockchain soon (click image)

as always, i’m no financial advisor! (i’m no substitute for professional financial services)