US labor market macro thread

Employment, unemployment, payroll, claims, openings, quits, and wage indicators from BLS and DOL public data.

As of: 2026-06-06. Related topic page: /skills/us-labor-market.html.

This page is a data-driven assembly of existing grepcent indicators, SIC crosswalks, SEC company financials, and sanitized SEC MD&A text. The mapped sectors are grepcent descriptive editorial mappings, not forecasts, recommendations, or investment advice. Company inclusion is mechanical - largest by revenue in the mapped SIC sectors - and is not a recommendation, endorsement, or an assessment of any company's exposure to this theme.

Sector mapping is coarse (SIC level) and does not imply a company's business is driven by this theme; keyword matches are literal and may be incidental - read the linked filing for context.

Macro Side

Indicator	Latest Reading	Units	As Of	Source
UNRATE - Unemployment Rate	4.3	Percent	2026-05-01	FRED source
CES0500000003 - Average Hourly Earnings of All Employees, Total Private	37.53	Dollars per Hour	2026-05-01	FRED source
U6RATE - Total Unemployed, Plus All Marginally Attached Workers Plus Total Employed Part Time for Economic Reasons	8.1	Percent	2026-05-01	FRED source
PAYEMS - All Employees, Total Nonfarm	159001	Thousands of Persons	2026-05-01	FRED source
CIVPART - Labor Force Participation Rate	61.8	Percent	2026-05-01	FRED source
EMRATIO - Employment-Population Ratio	59.2	Percent	2026-05-01	FRED source
UNEMPLOY - Unemployed	7307	Thousands of Persons	2026-05-01	FRED source
CE16OV - Employment Level	162771	Thousands of Persons	2026-05-01	FRED source
ICSA - Initial Claims	229000	Number	2026-06-06	FRED source
JTSJOL - Job Openings: Total Nonfarm	7618	Thousands	2026-04-01	FRED source
JTSQUR - Quits: Total Nonfarm	1.9	Thousands	2026-04-01	FRED source
AWHAETP - Average Weekly Hours of All Employees, Total Private	34.3	Hours	2026-05-01	FRED source

Mapped SIC Sectors

Mapped from the existing topic crosswalk, refined where needed to SIC major-group scope for company selection.

Retail Trade SIC division G
Manufacturing SIC division D
Services SIC division I

Largest Companies in Mapped Sectors (by revenue)

Companies are selected from the mapped SIC sectors and sorted by latest reported annual revenue (from SEC companyfacts). Missing metrics are left blank. MD&A signals are keyword matches against the sanitized latest 10-K MD&A text. Keywords scanned: labor costs, wage inflation, employee wages, staffing shortages, workforce reductions.

Company	Revenue	FY	Net Margin	Operating Margin	Revenue Growth	MD&A Mentions	Verbatim MD&A Excerpt
AMZN - AMAZON COM INC	716,924,000,000	2025	10.83%	11.16%	12.38%		No keyword match found in emitted latest 10-K MD&A.
WMT - Walmart Inc.	713,163,000,000	2026	3.07%	4.18%	4.73%		No keyword match found in emitted latest 10-K MD&A.
AAPL - Apple Inc.	416,161,000,000	2025	26.92%	31.97%	6.43%		No keyword match found in emitted latest 10-K MD&A.
GOOGL - Alphabet Inc.	402,836,000,000	2025	32.81%	32.03%	15.09%		No keyword match found in emitted latest 10-K MD&A.
CVS - CVS HEALTH Corp	402,067,000,000	2025	0.44%	1.16%	7.85%		No keyword match found in emitted latest 10-K MD&A.
XOM - EXXON MOBIL CORP	332,238,000,000	2025	8.68%		-4.96%	workforce reductions	Strategic changes implemented over the past several years enabled the Corporation to capture $15.1 billion of structural cost savings(1) versus 2019, including $3 billion of savings during 2025, through increased operational efficiencies, workforce reductions, divestment-related reductions, and other cost-saving measures. Verbatim sentence from XOM latest 10-K MD&A, filed 2026-02-18; 0000034088-26-000045.
MSFT - MICROSOFT CORP	281,724,000,000	2025	36.15%	45.62%	14.93%		No keyword match found in emitted latest 10-K MD&A.
COST - COSTCO WHOLESALE CORP /NEW	275,235,000,000	2025	2.94%	3.77%	8.17%		No keyword match found in emitted latest 10-K MD&A.
NVDA - NVIDIA CORP	215,938,000,000	2026	55.60%	60.38%	65.47%	employee wages	While difficult to isolate and quantify, these macroeconomic factors impact our supply chain and manufacturing costs, employee wages, costs for capital equipment, the value of our investments, revenue and competitive position. Verbatim sentence from NVDA latest 10-K MD&A, filed 2026-02-25; 0001045810-26-000021.
META - Meta Platforms, Inc.	200,966,000,000	2025	30.08%	41.44%	22.17%		No keyword match found in emitted latest 10-K MD&A.
CVX - CHEVRON CORP	189,031,000,000	2025	6.51%		-6.79%		No keyword match found in emitted latest 10-K MD&A.
F - FORD MOTOR CO	187,267,000,000	2025	-4.36%	-4.90%	1.23%	labor costs, employee wages	We continue to see lingering impacts on our business due to inflation, including ongoing geopolitical volatility, driving up labor costs, freight premiums, and other operating costs above historical rates. Verbatim sentence from F latest 10-K MD&A, filed 2026-02-11; 0000037996-26-000015.
GM - General Motors Co	185,019,000,000	2025	1.46%	1.57%	-1.29%	labor costs	The remaining portion includes labor costs, depreciation and amortization, engineering, freight, and product warranty and recall campaigns. Verbatim sentence from GM latest 10-K MD&A, filed 2026-01-27; 0001467858-26-000013.
HD - HOME DEPOT, INC.	164,683,000,000	2026	8.60%	12.68%	3.24%		No keyword match found in emitted latest 10-K MD&A.
KR - KROGER CO	147,642,000,000	2026	0.69%	1.28%	0.35%		No keyword match found in emitted latest 10-K MD&A.

Informational only - not investment advice.