The pace of job growth cooled through mid-2025, while the unemployment rate rose relatively little. This seeming puzzle is ...

What is the contribution of changes in female labor supply to the decline of employment in routine jobs observed in the U.S.

The change in the average U.S. tariff rate in 2025 was the largest in the modern era. One way to assess the effects of such a ...

Recessions are periods where the labor market deteriorates rapidly. Supporting business conditions to prevent such ...

Highlights from 2025 around the Twelfth District. Discover how the SF Fed engages, listens to communities, and learns from ...

The United States announced new, higher tariff rates this year. Tariffs can affect supply chains, investment, and firms’ input costs, resulting in supply-side effects such as higher inflation and ...

State-level unemployment claims can provide a real-time measure of national labor market conditions and the overall state of the economy. A rapid and widespread buildup of stress in state labor ...

U.S. net international migration (NIM) dropped significantly in recent months after starting to decline last year from its historically high annual levels. An update of earlier San Francisco Fed ...

After a prolonged decline, U.S. inflation-adjusted interest rates have increased somewhat since the pandemic—possibly implying a higher new normal. As central banks attempt to tame the post-pandemic ...

The fraction of men working in the United States has declined consistently since the 1950s. This has contributed to slower labor force growth and resulted in considerable gaps between labor force ...

The unemployment rate has risen over half a percentage point since the second quarter of 2023. Individual survey data underlying the unemployment rate can help in assessing which labor market ...