Macro Monday: Alternative Employment Data

The Macro Institute's Weekly Economic Primer

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The Macro Institute
October 21, 2024

The third week of the month is usually quiet on the data front. Here at The Macro Institute, we usually see this as an opportunity to review some alternative sources of data - and there are more and more of those around. Interestingly, Indeed.com produces daily data on labor markets. Now, daily data is hard to use given how volatile it is, but it does go to show how different (and awesome!) things are nowadays for avowed data nerds. This type of data will not often give signals, BUT we have seen "New Job Postings" on Indeed.com dip back to the same level as "Total Job Postings". The two series appear set to cross for the first time in years. In essence, here’s an alternative source of data confirming what we are seeing in more traditional, albeit independent, series like those from the NFIB and ISM. Investor attention will be focused on Q3 earnings releases this week, but make sure to keep an eye on this one as well as Initial Jobless Claims on Thursday morning.

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