Tools R’ Us
I must admit. I’m a bit surprised how often US labor market data is published. NFP Friday cannot possibly be coming up again, can it? I can’t tell if it’s just an aging mind or some grand conspiracy against my (slightly narcissistic) persona, but I know what I think is more probable.
A few weeks ago, my colleague Alexander Pelle provided us with a great little tool for dissecting the PCE-deflator and this week I thought we could try and build something similar for labor market data. And, with our new Watchlist functionality being released later this week, these charts and your favorite analytical tools will be at your fingertips instantly when data is published. Ask your friendly Macrobond representative how to set it up or look out for our release notes tomorrow.
HH Survey data (All charts are part of one Macrobond document, which you can download via any of the below charts):
And this is the Establishment survey data (All charts are part of one Macrobond document, which you can download via any of the below charts):
Again, it’s just save these documents to your chart library (and watchlist!) and you’ll have a great tool to take you through this Friday’s NFP-data in no-time. However, once more details are available, you might also want to try to find out if there are any other quirks in the data. For this I have also set up a bar chart (the third .mbnd-document necessary to have all the charts) with what I think are the main sectors (or suspects, if you will) to look at:
And while we’re at it – let’s take a look at a similar chart for nominal average hourly earnings (AHE):
And, closing with a similar chart for real AHE:
Well, I think that’s it… – Hopefully, we will never feel unprepared again, however often they (!) throw NFP-Fridays on us.
That said, if you have any feedback or feel that I have left some important part out, don’t hesitate to reach out!