Analysis of the US Employment Report and Labor Market Shifts

It is US employment report Friday (or “average earnings are not wages” day). Since mid-last year, the US has added almost 1.60 million jobs, and has also lost almost 0.25 million jobs depending on which bit of the employment report you read. Labor markets are changing—flexible working, changing industries like online retail, new jobs like social media influencers, the rise and fall of job hopping, side hustles and more self-employment, automation, volunteering, early retirement, and population movements. Data is not capturing these changes properly.