Beyond the headline - labor force history
BUT... what nobody seems to have noticed, not even the state itself, and what is something I need to think about a lot more... the county for the region's seasonally adjusted labor force in January came in at 1,240,100. If that is a robust number (by that I mean it does not get revised too much in coming months), I think it is the single largest count for the labor force in the region in the last 40 years... which is all I keep track of. I am pretty sure that would make it the single largest labor force count in the region's history.
What's it mean? I ponder, you decide. But it is big big news no matter what the headline says.
How is the labor force going up despite the unemployment rate ticking up? Only hypotheses from me with the data we have at this point, but it could either be all those new natural gas drillers, or possibly the roofers. Well, I guess the roofers would not show up in the data yet.
I'll add a picture. Here is what I see as the history of labor force in the 7 county MSA: