EMPLOYMENT & UNEMPLOYMENT • Oct 2021 • Volume 10 / Number 14
Data from the Job Openings and Labor Turnover Survey (JOLTS) highlight the impact of the COVID-19 pandemic on state labor markets. While all states were affected, each state was confronted with its own unique job opening and turnover challenges, and the path taken towards a new normal was not the same for every state.Read full article » | Download PDF
The Bureau of Labor Statistics (BLS) publishes a wide variety of measures of consumer price change, each with different market baskets that are used to calculate average price change across items and cities. The Consumer Price Index (CPI) is a weighted average of price change for a market basket of consumer goods and services. One measure of price change is the CPI All Urban Consumers (CPI-U). This measure is what most media outlets refer to as consumer inflation. The CPI-U is published in a timely manner, less than 2 weeks after the reference month, but the market basket is based on consumer spending from 2017–2018 for January 2020 to December 2021 indexes.
The international air freight industry experienced record high rates in the spring of 2020. In 2020, there was a severe reduction in air travel combined with an enormous demand for personal protective equipment (PPE) all over the world. This reduced shipping capacity and urgent demand for PPE pushed prices for air freight transportation services to unprecedented heights.
Persons who were not working and were waiting to be recalled to a job from which they had been temporarily laid off are also included as unemployed. The number of experienced unemployed, those who had a job and became unemployed, provide a measure of the available supply of experienced workers. Unemployed persons are classified according to their last job. This Beyond the Numbers article examines how these statistics, the demand for and supply of labor, work together to tell us more about the labor market.