Weather Adjusted Employment Gains in February
by Calculated Risk on 3/06/2022 11:55:00 AM
This is something I like to check during the Winter.
The BLS reported 161 thousand people were employed in non-agriculture industries, with a job, but not at work due to bad weather. The average for February over the previous 10 years was 347 thousand. The median was 248 thousand.
The BLS also reported 592 thousand people were usually full-time employees but were working part time in February due to bad weather. The average for February over the previous 10 years was 1.54 million. The median was 708 thousand.
The San Francisco Fed estimates Weather-Adjusted Change in Total Nonfarm Employment (monthly change, seasonally adjusted). They use local area weather to estimate the impact on employment.