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iCIMS, Bloomberg, Federal Reserve alum. Views are my own, likes ≠ my views.

Brooklyn, NY
Joined January 2014
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Econ folks, don't miss out! Most of these Virtual Training Projects are in bioinformatics, but there's a stellar one for working with Raj Chetty's data on social mobility. Great way to practice R, as well as study inequality.
Research Staff, Postdocs, and Graduate Students: we’ve posted our Virtual Training Project schedule for January and February 😀. Topics include: Single-cell Transcriptomics + Lung Cell or Habenula Neuron Characterization... milrd.org/vtp-projects/
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This is the real problem. Temporary unemployment (de facto furloughs) continue to tumble. Permanent layoffs still elevated and actually ticked a little higher. bloomberg.com/news/live-blog…
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Nonfarm payrolls grew by only 245k in November, ~half of expected number. Unemployment rate down to 6.7% from 6.9%, as expected.
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OTOH, transportation/warehousing popped, from 62k to 145k. But that's only a partial offset for retail trade.
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Meanwhile, leisure/hospitality nearly flatlined: +31k, down from +270k in Oct.
Job growth is slowing while Black unemployment remains (barely) in the double digits. Black: 10.3% Hispanic or Latino: 8.4% Asian: 6.7% White: 5.9%
"The great privilege of the Americans does not simply consist in their being more enlightened than other nations, but in their being able to repair the faults they may commit." Tocqueville, Democracy in America, 1835, translated by Henry Reeve ... bit.ly/346yp8K
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Notably: long-term unemployment is rising (up by over 1 million in just one month) and employment of college-educated workers has fallen for two straight months as parents drop out to provide home-schooling and child care.
"Reverse check mark" or "reverse ballot mark"?
Here’s where the recovery stands: It’s not a ‘V’ 46% of of virus-related job losses have yet to be recovered 10.1M Ams remain displaced Virus cases are surging again Fiscal support exhausted
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Oct. payrolls: +638k, beating expectations, roughly same as Sept. Unemployment rate: 6.9%, far below 7.7% expectations
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Government payroll changes: Federal (ex USPS) -138k (primarily Census-related) State & local education -130k State & local other +29.6k Federal U.S. Postal Service -100
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(The loss of education jobs is a key point in favor of federal stimulus for state and local governments)
The underemployment rate fell to 12.1%, but that's a significant slowing in the pace of improvement. Oct. 12.1% (-0.7%) Sept. 12.8% (-1.4%) Aug. 14.2% (-2.3%) July 16.5% (-1.5%) June 18.0%
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