by Calculated Risk on 7/05/2021 09:57:00 AM
The BLS diffusion index for total private employment was at 66.1 in June, up from 63.0 in May.
For manufacturing, the diffusion index was at 62.0, down from 63.3 in May.
Think of this as a measure of how widespread job gains or losses are across industries. The further from 50 (above or below), the more widespread the job losses or gains reported by the BLS. From the BLS:
Both indexes declined sharply in March 2020, and collapsed to new record lows in April 2020 due to the impact from COVID-19. Then the indexes increased as the economy bounced back.