{"id":273442,"date":"2025-04-05T22:30:52","date_gmt":"2025-04-05T22:30:52","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/04\/05\/business-cycle-indicators-employment-in-march\/"},"modified":"2025-06-25T17:08:58","modified_gmt":"2025-06-25T17:08:58","slug":"business-cycle-indicators-employment-in-march","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/04\/05\/business-cycle-indicators-employment-in-march\/","title":{"rendered":"Business Cycle Indicators: Employment in March"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-56235\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>Mid-March to be specific.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-56236\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25.png\" alt=\"\" width=\"849\" height=\"532\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25.png 849w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25-300x188.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25-768x481.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/recindic_mar25-624x391.png 624w\" sizes=\"(max-width: 849px) 100vw, 849px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Nonfarm Payroll incl benchmark revision employment from CES (bold blue), implied NFP from preliminary benchmark through December (thin blue), civilian employment as reported (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold light green), manufacturing and trade sales in Ch.2017$ (black), consumption in Ch.2017$ (light blue), and monthly GDP in Ch.2017$ (pink), GDP (blue bars), all log normalized to 2021M11=0. Source: BLS via FRED, Federal Reserve, BEA 2024Q4 3rd release, <a href=\"https:\/\/www.spglobal.com\/marketintelligence\/en\/mi\/research-analysis\/us-monthly-gdp-index-for-october-2022.html\">S&amp;P Global Market Insights<\/a> (nee Macroeconomic Advisers, IHS Markit) (4\/1\/<\/em><em>2025 release), and author\u2019s calculations.\u00a0<\/em><\/p>\n<p>Monthly GDP is\u00a0 down from November peak; consumption is down from December peak.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2025\/04\/business-cycle-indicators-employment-in-march\" title=\"2:36 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2025-04-05T14:36:19-07:00\">April 5, 2025<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2025\/04\/business-cycle-indicators-employment-in-march\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Mid-March to be specific. Figure 1: Nonfarm Payroll incl benchmark revision employment from CES (bold blue), implied NFP from preliminary benchmark through December (thin<\/p>\n","protected":false},"author":1,"featured_media":273443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273442"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=273442"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/273443"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=273442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=273442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=273442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}