– Yeah, epic.
– So don’t hit your head on
the, this meant well for you.
Hi, welcome to beer
with Emsi Burning Glass.
Today I’m drinking KYLA Hard Kombucha
out of Hood River Oregon.
– And I am drinking Cascade Fog
Hazy IPA from No-Li brewery.
Look at that.
Perfect. Pretty good.
– Yeah. Cheers.
– Cheers.
– I’m Bre House.
– And I’m Ben Bradley.
Let’s talk about last week’s jobs report.
– Do you like scary movies?
– Ah?(laughter).
– Did you ever have friends tell you
that a movie’s really scary?
Give it a big buildup and
then you finally watch it
and it’s not that scary at all.
– Well, that’s what happened
with the latest jobs report.
– Okay. Let’s start with the spooky music.
– Huge spooky music.
– Yeah.
As you know, the Bureau
of Labor Statistics
puts out a jobs report every month.
Well, their December report
was pretty lackluster.
Omicron was surging and lots of economists
were worried about the
toll on the economy.
– Then last Wednesday, the
private payroll company, ADP
shocked everyone by
announcing its own survey
of employers, which
found that private sector
jobs actually declined
by 300,000 in January.
– That raised the tension among economists
as they awaited the BLS release
of their January jobs report.
– What would the numbers show?
– How bad would it be?
(laughter)
– Well, last Friday’s
government jobs report found
that non-farm payrolls
actually grew by 476,000
in January.
See that wasn’t scary at all.
– The BLS also revised
upwards, the lackluster numbers
from December and November,
more than doubling each
month, estimated jobs numbers
– Omicron did have an impact.
And the share of employees who tele work
because of illness,
jumped by 15% in January
– And 6 million people
said that they had been unable to work
because their employer
closed or lost business
because of the pandemic.
That’s double the number from December.
Oh, you wanna cheers?
– Yeah. Why not?
– We never did that.
– We did.
– We did, we cheered?
– Even so,
there was strong job growth
in several industries.
Accommodation and food
service saw the most gains.
With 131,000 new jobs in retail trade
added 61,000.
– Other big winners were
professional and business services
with 86,000 new jobs and transportation
and warehousing with 54,000 new jobs.
That’s good news for the supply chain.
– Wages also continued
climbing upwards in January,
yet another indication
of the wage pressures
because of the tight labor market.
And that’s one of the big
takeaways from these reports.
The job market is still tight
and it’s likely to stay that way.
– Moving on up.
I’m sure you wanna do
without me singing, but.
(background noise)
– No, I think we want singing.
We want the Singing.
– The government’s monthly job openings
and labor turnover survey
also came out last week.
And that report showed
that job openings remained
at near record highs of
10.9 million in December.
– There are now only 58 unemployed people
for every 100 job openings.
That’s tough maths,
if you’re an employer
looking for new talent.
– One thing is clear.
Employers remain in a constant dog fight
for talent and the churn in
the job market continues.
I have been like for really impressed
by your ability to like
not screw up the words.
’cause I every single time
they have to be like Bre
– I’m an actor.
(laughing)
Here at Emsi Burning Glass,
our detailed labor data
and expert analysts help
thousands of businesses,
colleges and government analyze
the shifting talent market
and develop strategies that
guide them for success.
Our clients range from
small Mom and Pop operations
to some of the biggest
fortune 500 companies.
– If you’re struggling to
figure out this labor market
let us know how we can help.
Because creating a people plan,
shouldn’t be all that scary either.
– For more information and analysis.
Read our blog here.
– Thank you for joining us
for a beer with Emsi Burning Glass.
Cheers.
Oh, thanks.
– Oh, now we,
– Yeah.
(background noise)
– Have you thought
about doing robot hands.
