U.S. Jobs and Labor Tracker
Key Takeaways
As May ended, the unemployment index rose again. The index increased throughout May but at 95.5, remains well below the neutral rate of 100. Last year at this time, the unemployment index stood at 102.7, indicating joblessness was higher than the current period.
Looking at different cohorts, the prime-age male unemployment index continued declining. At 59.9, it matches levels from mid-May 2023, when the U.S. labor market was hot and joblessness was low due to demand exceeding supply of workers. Prime-age female adults show a different pattern—their unemployment has been rising and is nowhere near May 2023 levels, unlike their male counterparts.
As new graduates (with college and post-graduate degrees) enter the workforce, their unemployment index is lower, partly reflecting seasonal dynamics. For adults with postgraduate degrees, this lower figure represents a longer-term trend, with their unemployment index sliding since February. For those with some college or high school education or less, the unemployment index has risen once again but remains below previous peaks.
Data Downloads
Pro+ subscribers are able to download the datasets that underpin Morning Consult Pro's reports and analysis. Contact us to get access.
Unemployment Index
Since August 2020, Morning Consult has been gathering daily data on the employment status of U.S. consumers. Although the methodology differs, this survey uses the same definition as the Bureau of Labor Statistics (BLS) to determine the national unemployment rate. Consequently, Morning Consult’s high-frequency data provides valuable insights into real-time joblessness fluctuations.
The Unemployment Index is designed with ease of interpretation in mind. The index’s base value of 100 is intended to be consistent with a “neutral” (or, in economic terms, natural) unemployment rate. This value would equate to the lowest level of joblessness the economy could theoretically sustain without triggering elevated inflation.
More about the construction of the index and the methodology can be found here.
About the survey:
- Began fielding: Aug. 15, 2020
- Frequency: Daily, typically reported as a 4-week moving average
- Fielding period: 4 a.m. ET to 3 a.m. ET the following day
- Sample size: Over 15,000 adults per day globally (over 5,000 per day in
the United States) - Geographic coverage: Over 40 countries
*Please note that only select demographics are displayed here. Pro+ and MCI clients can download the interactive data files to analyze additional demographics.
Demographic breakout
Job Search Activity
Morning Consult's U.S. Job Search Activity data provides an always-on gauge of the jobs market by asking about job search activity, providing enhanced scale, frequency and depth compared with traditional data sets. The question is asked in over 40 countries, while this chart pack provides data on only the United States.
- Began fielding: Aug. 15, 2020
- Frequency: Daily, typically reported as a 4-week moving average
- Fielding period: 4 a.m. ET to 3 a.m. ET the following day
- Sample size: Over 15,000 adults per day globally (over 5,000 per day in
the United States) - Geographic coverage: Over 40 countries
*Please note that only select demographics are displayed here. Pro+ clients can download the interactive data files to analyze additional demographics.
** This data is part of Morning Consult's daily tracker. MCI clients can access this data on a daily frequency by desired Audience (demographic, psychographic and usage questions), Brand, Economic and Political cuts.
Job Search Activity
Email [email protected] to speak with a member of the Morning Consult team.
