Key Points The US workforce shank unexpectedly by 23 thousand, despite the unemployment rate staying unchanged. The US civilian labor force has declined in recent months meaning that many individuals have either given up on finding employment or retired. The foreign born labor force has declined, but not significantly. According to the Bureau of Labor Statistics (BLS), there were 23 thousand fewer employees working full-time in July. Despite the slight decline from June, the

Takeaway: A temporary pandemic lockdown permanently shifted large cities into a low-commuting routine because downtown productivity relies on collective coordination, whereas smaller cities returned entirely to their pre-pandemic baseline. Key Points Working downtown is a coordination problem: Being in the office is most valuable when colleagues, clients, and peers from other firms are also present. Big cities have multiple stable states ("equilibria"): In large metro areas,

By Nate Griffin – November 19th, 2021 The Bureau of Labor Statistics released its Employment Situation report this morning. The US...