Jobs & Wages

Workers in a production facility representing labor productivity and output

Labor Productivity vs. Unit Labor Costs: Why the Difference Matters

Labor productivity measures output per hour; unit labor costs measure labor compensation required to produce a unit of output. Learn how the two interact.

Casey Lester October 26, 2026

Job application paperwork representing unemployment claims and labor-market transitions

Jobs & Wages

Initial Jobless Claims Explained: What Weekly Unemployment Claims Actually Measure

Initial jobless claims are a weekly measure of new unemployment-insurance claims. Learn what the data signal, why revisions matter and how they differ from the unemployment rate.

Casey Lester October 24, 2026

Jobs & Wages

Underemployment Explained

Underemployment is broader than official unemployment. Learn U-3 vs. U-6, involuntary part-time work, marginal attachment, discouraged workers, and what the data can—and cannot—show.

Casey Lester October 19, 2026

Jobs & Wages

Wage Growth Explained

Wage growth tracks changes in worker pay, but nominal raises and real purchasing-power gains are not the same. Learn how BLS measures hourly earnings, real earnings, and the Employment Cost Index.

Casey Lester October 16, 2026

Jobs & Wages

JOLTS Explained: What Job Openings Data Actually Measure

JOLTS measures job openings, hires, quits, layoffs, and other separations using an establishment survey. Learn what each series means—and what online job-posting counts do not tell you.

Casey Lester October 12, 2026

Jobs & Wages

Labor-Force Participation Rate Explained

The labor-force participation rate measures the share of the civilian noninstitutional population age 16 and older that is working or actively looking for work.

Casey Lester October 7, 2026

Blank payroll check and pen representing wages and employer compensation

Jobs & Wages

Employment Cost Index Explained: What the ECI Says About Wages and Benefits

The Employment Cost Index tracks changes in employer labor costs while controlling for shifts in the mix of jobs. Learn how wages, salaries and benefits fit into the measure.

Casey Lester October 5, 2026

Jobs & Wages

Real Wages vs. Nominal Wages

Nominal wages are measured in current dollars; real wages adjust for inflation. Learn why a pay raise can still leave purchasing power unchanged—or lower.

Casey Lester October 1, 2026

Jobs & Wages

Payroll Employment Explained

Payroll employment measures jobs reported by employers, not individual workers. Learn how the CES survey works, what it includes, and why payroll estimates get revised.

Casey Lester September 27, 2026

Jobs & Wages

Unemployment Rate Explained

Learn exactly how the unemployment rate is calculated, who counts as unemployed, who does not, and why participation and broader labor measures matter.

Casey Lester September 21, 2026

Build the foundation before chasing headlines.

Jobs & Wages