by Calculated Risk on 2/09/2024 01:20:00 PM
The BLS also reported 1.794 million people that are usually full-time employees were working part time in January due to bad weather. The average for January over the previous 10 years was 835 thousand (the median was 645 thousand). This series suggests weather negatively impacted employment more than usual.
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. For January, the San Francisco Fed estimated that weather reduced employment by 40 to 60 thousand jobs.
It appears weather adjusted job gains were around 400 thousand in January (seasonally adjusted)