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05 Sep 2014

The Welch Consulting Employment Index increased slightly, from 97.2 to 97.3, between June and July as the official unemployment rate decreased slightly from 6.2% to 6.1%.  The Welch Index measures full-time equivalent employment and shows that, adjusted for population growth and the aging of the workforce, full-time equivalent employment has been roughly constant over the past five months.  The Welch Index is about 1.1% higher than it was one year ago.  In the past year full-time employment has increased by about 2.2 million, while part-time employment has declined by 100,000.  The Welch Index is based on the BLS household survey (the Current Population Survey).

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05 Aug 2014

The Welch Consulting Employment Index increased slightly, from 97.1 to 97.2, between June and July.  While the official unemployment rate increased slightly from 6.1% to 6.2%, full-time employment increased by 285,000 in the household survey in the past month.  The Welch Index measures full-time equivalent employment and shows that, adjusted for population growth and the aging of the workforce, full-time equivalent employment has been steady since March.  The Welch Index is based on the BLS household survey (the Current Population Survey).

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28 Jul 2014

For more in-depth analysis and description of methodology, click here.

The easy availability of government data on the internet allows unprecedented access to a vast array of information that can be useful for policy-related research. Readers, however, should view empirical research that has not been subjected to peer-review with a skeptical eye.  Empirical evidence that purports to repudiate the law of demand should be scrutinized especially carefully.

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03 Jul 2014

The Welch Consulting Employment Index declined slightly, from 97.3 to 97.1, between May and June.  While the headline Bureau of Labor Statistics (BLS) employment figures showed substantial job creation and a decline in the unemployment rate in June, full-time employment actually dropped in the past month.  The Welch Index measures full-time equivalent employment and shows that despite the relatively strong increase in total employment reported by the BLS over the past few months, full-time equivalent employment, adjusted for population growth and the aging of the workforce, has not changed since March.  

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