Jobs Diffusion Index

[Chuckanut]

Here's an FYI.

The latest jobs report has an Diffusion Index of 4.8. For comparison at the end of February it was 53.7.

In the diffusion index, values less than 50 indicate that more industries are losing jobs than gaining jobs; conversely, values greater than 50 indicate that more industries are gaining jobs than losing them. 50 means the number of industries expanding and contracting are equal.

The current DI indicates that job losses are very widespread covering a huge number of industries. Yes, even more industries than in the depths of 2007-2008 when the index hit the mid teens.

Here are the numbers from the Bureau of Labor Statistics.
https://www.bls.gov/news.release/empsit.b.htm

I am not an expert economist, so take what you wish and leave the rest.

 

[Chuckanut]

I just read about how the cable companies are being hit. No sports events to attract customers, many sports bars still closed, and, of course, the newly jobless trying to save money anyway they can.

This is a great example of how the job losses are hitting every segment of our economy as the Diffusion Index shows.

 

[mrfeh]

For a deeper dive into the numbers (the diffusion index is mentioned):

https://fivethirtyeight.com/features/the-terrible-jobs-report-gets-worse-the-more-you-read-it/