Why are payroll numbers reported as "nonfarm" jobs? What other jobs are excluded from the unemployment rate? Why is "hours worked" an important recession indicator? For this shorter week, Liz Ann and Kathy discuss various aspects of the labor market and its indicators. 

They touch on the monthly jobs report from the Bureau of Labor Statistics, the overall unemployment rate, initial jobless claims, and other key metrics. They also discuss the uniqueness of the current labor market cycle and the challenges in analyzing it. The conversation then shifts to the Federal Reserve's focus on employment and inflation and the potential impact of the upcoming jobs report on Fed policy. 

Finally, Kathy and Liz Ann provide their outlook for the next week's economic data and market events.

You can read more about the history of the Department of Labor in this article on their website and explore the data published by the Bureau of Labor Statistics.

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

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