Jobs and other economic gauges signal slowing US recovery
4 years, 2 months ago

Jobs and other economic gauges signal slowing US recovery

Al Jazeera  

Hopes for a continuous, rapid rebound for the recession-ridden United States economy were dealt another dose of reality on Thursday, with gauges of layoffs, consumer spending, incomes and factory activity all signalling America’s recovery is shifting into low gear. On the jobs front, claims for initial unemployment benefits filed with states – a proxy for layoffs – fell by 36,000 last week to 837,000, the US Department of Labor reported. Meanwhile, consumer spending – the engine of the US economy driving some two-thirds of growth – rose 1 percent in August, a marked slowdown from May and June, when spending soared 8.7 percent and 6.5 percent respectively. Economists, including US Federal Reserve officials, have warned the economic recovery risks stalling or even derailing unless the White House and Democrats in Congress reach a deal over a new round of virus relief aid.

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History of this topic

US hiring rebounds after slump on hurricanes, strike
2 weeks, 5 days ago

US hiring rebounds after slump on hurricanes, strike

New Indian Express  

WASHINGTON: The US economy added more jobs than expected last month, government data showed Friday, bouncing back from a dramatic slowdown triggered by hurricanes and labor strikes. While Boussour said she expects job growth to settle "below trend" as the labor market cools gradually, she added that "a labor market downturn isn't on the near-term horizon" with layoffs remaining relatively …

JOBS REPORT: U.S. Adds Robust 254,000 Jobs And Unemployment Dips To 4.1%
2 months, 2 weeks ago

JOBS REPORT: U.S. Adds Robust 254,000 Jobs And Unemployment Dips To 4.1%

Huff Post  

LOADING ERROR LOADING WASHINGTON — America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy. Payroll employment rises by 254,000 in September; unemployment rate changes little at 4.1% #JobsReport #BLSdata https://t.co/ZwrVfLviqL — BLS-Labor Statistics October 4, 2024 …

U.S. job growth outperforms expectations as hiring resurges and unemployment drops
2 months, 3 weeks ago

U.S. job growth outperforms expectations as hiring resurges and unemployment drops

LA Times  

A hiring sign is displayed at a grocery store in Deerfield, Ill. “The report doesn’t single-handedly change the landscape for the economic outlook, but it does provide reassurance that there’s still plenty of life in the jobs market,” said Jim Baird, chief investment officer with Plante Moran Financial Advisors, a major accounting firm based in the Detroit area. The strong …

Unemployment, the Sahm rule, and whether we can speed up economic recoveries : The Indicator from Planet Money : NPR
2 months, 3 weeks ago

Unemployment, the Sahm rule, and whether we can speed up economic recoveries : The Indicator from Planet Money : NPR

NPR  

Does unemployment whiplash mean recession? Enlarge this image Joe Raedle/Getty Images Joe Raedle/Getty Images It's Jobs Friday! In September, 254,000 jobs were added to the US economy and the unemployment rate ticked down very slightly to 4.1%. Sponsor Message Related Episodes: The Sahm Rule With The Eponymous Economist How much would you do this job for? And other indicators For …

US Hiring Rebounds Slightly And Unemployment Rate Dips In Sign Of Still-Slowing Job Market
3 months, 2 weeks ago

US Hiring Rebounds Slightly And Unemployment Rate Dips In Sign Of Still-Slowing Job Market

Huff Post  

A linesman works on power lines under the morning sun, July 12, 2024, in Phoenix. via Associated Press WASHINGTON — Hiring by America’s employers picked up a bit in August from July’s sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy. In a …

Jobs report will help Federal Reserve decide how much to cut interest rates
3 months, 2 weeks ago

Jobs report will help Federal Reserve decide how much to cut interest rates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. If it shows that hiring was weak in August …

Americans who have a job are feeling secure. Not so for many who are looking for one
3 months, 2 weeks ago

Americans who have a job are feeling secure. Not so for many who are looking for one

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Laid off by the music …

US jobs data return to centre stage as Federal Reserve mulls rate-cut size
3 months, 3 weeks ago

US jobs data return to centre stage as Federal Reserve mulls rate-cut size

Hindustan Times  

With the Federal Reserve set to begin cutting interest rates in a few weeks, the main question now is how big the first reduction will be. US Federal Reserve Chairman Jerome Powell made it clear in an Aug. 23 speech that the central bank is now more concerned about risks to the labor market than inflation. “The jobs report is …

US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears
4 months, 3 weeks ago

US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears

Associated Press  

WASHINGTON — The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with raised interest rates taking a toll on businesses and households. The unemployment rate’s jump to 4.3% in July crossed a tripwire that historically has signaled recession — though economists say the gauge probably is …

Will the US unemployment rate continue at historic lows?
8 months, 3 weeks ago

Will the US unemployment rate continue at historic lows?

Al Jazeera  

US job growth has continued at a steady clip in the months since the COVID-19 pandemic, but experts are looking for warning signs. All eyes will be on Friday’s US unemployment numbers to see how many jobs were added in March and whether the unemployment rate continues to stay in its historically low range or if it is time for …

The US didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs
10 months, 3 weeks ago

The US didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs

Associated Press  

WASHINGTON — The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades. ‘’ This week, the Fed took note of the economy’s durability, with Chair Jerome Powell saying “the economy is performing well, the …

The U.S. didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs
10 months, 3 weeks ago

The U.S. didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs

LA Times  

A worker from Portland General Electric replaces a power line as crews work to restore power after a January storm in Oregon. “Today, we saw more proof, with another month of strong wage gains and employment gains of over 350,000 in January, continuing the strong growth from last year.” Business What rising immigration really means for California’s economy New data …

US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength
11 months, 2 weeks ago

US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength

Associated Press  

WASHINGTON — The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American labor market remains resilient even in the face of sharply higher interest rates. Asked why many Americans remain dissatisfied by the economy, Acting Labor Secretary Julie Su said Friday that “part of the unfortunate reality is we live in polarized times.’’ Many …

April hiring gains reflect a still-resilient U.S. job market
1 year, 7 months ago

April hiring gains reflect a still-resilient U.S. job market

LA Times  

Construction workers install roofing on a high-rise in Manhattan’s financial district. America’s employers added a healthy 253,000 jobs in April, evidence of a labor market that still shows surprising resilience despite rising interest rates, chronically high inflation and a banking crisis that could weaken the economy. The job market has remained durable despite the Fed’s aggressive campaign of interest rate …

The U.S. job market is still healthy, but it's slowing down as recession fears mount
1 year, 11 months ago

The U.S. job market is still healthy, but it's slowing down as recession fears mount

NPR  

The U.S. job market is still healthy, but it's slowing down as recession fears mount Enlarge this image toggle caption Anna Moneymaker/Getty Images Anna Moneymaker/Getty Images The U.S. job market closed out 2022 on a high note. Employers added 223,000 jobs in December, capping a year in which the economy added 4.5 million jobs, more than refilling the deep hole …

Even as US job growth was solid in December, signs of cooling
1 year, 11 months ago

Even as US job growth was solid in December, signs of cooling

Al Jazeera  

Hiring in December was smallest in two years, and it extended a hiring slowdown for most of 2022, aiding inflation fight. All told, the December jobs report suggested that the labour market may be cooling in a way that could aid the Fed’s fight against high inflation. Average hourly wage growth was up 4.6 percent in December from 12 months …

Biden sees economy avoiding recession, but risks remain
2 years ago

Biden sees economy avoiding recession, but risks remain

Associated Press  

WASHINGTON — President Joe Biden assured Americans on Friday that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. “I’ve supported paid sick leave for a long time,” said the president, a staunch labor union supporter. “I’m going to continue that fight …

US revises up last quarter’s economic growth to 2.9 percent
2 years ago

US revises up last quarter’s economic growth to 2.9 percent

Al Jazeera  

Despite high interest rates and chronic inflation, the United States economy grew at a 2.9 percent annual rate from July through September, the government has said in a healthy upgrade from its initial estimate. Last quarter’s rise in the US gross domestic product – the economy’s total output of goods and services – followed two straight quarters of contraction. With …

US economy returned to growth last quarter, expanding 2.6%
2 years, 1 month ago

US economy returned to growth last quarter, expanding 2.6%

Associated Press  

WASHINGTON — The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy’s health has emerged as a paramount issue. Stronger exports and consumer spending, backed by a healthy job market, helped restore growth …

Slowdown or not? How the US job market walks a tight rope
2 years, 3 months ago

Slowdown or not? How the US job market walks a tight rope

Firstpost  

The unemployment rate fell to a historically low 3.5 per cent as the 22 million jobs lost due to COVID-19 returned. Job creation, on the other hand, is expected to have slowed sharply, falling to 300,000 — almost half of July’s number Washington: The number of “Help Wanted” signs may have decreased across the United States in August, but the …

As recession fears grow, strong US hiring is likely slowing
2 years, 4 months ago

As recession fears grow, strong US hiring is likely slowing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Overall conditions aren’t nearly as strong as what we …

US job growth surges, cooling recession fears
2 years, 4 months ago

US job growth surges, cooling recession fears

Al Jazeera  

The United States unemployment rate is at a 50-year low of 3.5 percent, data showed on Friday. US employers added more than double the number of jobs forecast, illustrating rock-solid labor demand that tempers recession fears and suggests the Federal Reserve will press on with steep interest-rate hikes to thwart inflation. Nonfarm payrolls jumped 528,000 in July, a broad advance …

United States recession fears grow as economy contracts for second quarter
2 years, 4 months ago

United States recession fears grow as economy contracts for second quarter

ABC  

The United States economy has unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising speculation the economy is on the cusp of a recession. Key points: Prices for groceries, petrol and other basics increased at the fastest pace since 1981 Job growth averaged 456,700 per month in …

A robust June jobs report clouds outlook for US economy
2 years, 5 months ago

A robust June jobs report clouds outlook for US economy

Associated Press  

WASHINGTON — A strong hiring report for June has assuaged fears that the U.S. economy might be on the cusp of a recession — and highlighted the resilience of the nation’s job market. Or, conversely, painful inflation and steadily higher borrowing rates engineered by the Federal Reserve could discourage consumer and business spending and weaken growth, eventually leading businesses to …

U.S. Employers Add A Solid 372,000 Jobs In Sign Of Resilience
2 years, 5 months ago

U.S. Employers Add A Solid 372,000 Jobs In Sign Of Resilience

Huff Post  

LOADING ERROR LOADING WASHINGTON — America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to cool the economy and slow price increases. The Fed has already embarked on its fastest series of rate hikes since the 1980s, …

US economy shrank by 1.5% in Q1 but consumers kept spending
2 years, 6 months ago

US economy shrank by 1.5% in Q1 but consumers kept spending

Associated Press  

WASHINGTON — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the U.S. gross domestic product — the broadest gauge of economic output — does not …

Strong job growth points to COVID’s fading grip on economy
2 years, 9 months ago

Strong job growth points to COVID’s fading grip on economy

Associated Press  

WASHINGTON — In a buoyant sign for the U.S. economy, businesses stepped up their hiring last month as omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation. Yet the February hiring data suggest that two years after COVID-19 sparked a nationwide shutdown and 22 million job losses, the disease is losing its …

The economy is recovering fast. But we need to ensure it works for everyone
2 years, 9 months ago

The economy is recovering fast. But we need to ensure it works for everyone

CNN  

Editor’s Note: Elise Gould is a senior economist at the Economic Policy Institute. When the coronavirus pandemic shut down businesses across the US in spring 2020, the labor market lost 22 million jobs in just two months — more than twice as many jobs lost during the entire Great Recession and financial crisis of 2008-2009. Given that a full labor …

US economy adds 467,000 jobs in January, calming Omicron fears
2 years, 10 months ago

US economy adds 467,000 jobs in January, calming Omicron fears

Al Jazeera  

The United States economy added a better-than-expected 467,000 jobs last month, despite a wave of workers calling in sick as Omicron infections peaked. The United States economy added a robust 467,000 jobs in January, the US Department of Labor said on Friday. But late last year, with job openings abounding and inflation soaring, the Fed signalled a hard pivot away …

A likely poor jobs figure for January could prove temporary
2 years, 10 months ago

A likely poor jobs figure for January could prove temporary

LA Times  

Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about the likely culprit: a wave of Omicron cases last month that led millions of …

US economy grew at 2.3% rate in Q3, up from earlier estimate
3 years ago

US economy grew at 2.3% rate in Q3, up from earlier estimate

Associated Press  

WASHINGTON — The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Wednesday. “History is repeating itself with the COVID virus suddenly reappearing and dampening economic growth prospects,” said Sung Won Sohn, an economics and business professor Loyola Marymount University in Los Angeles. Kathy Bostjancic, chief U.S. financial economist …

US recovery accelerates on spending, labor market growth
3 years ago

US recovery accelerates on spending, labor market growth

Live Mint  

The U.S. economy showed broad-based signs of acceleration heading into the end of the year, with consumers ramping up spending, businesses stepping up investment and jobless claims falling to historic lows. Household spending rose 1.3% in October from a month earlier, while personal income increased 0.5% last month, the Commerce Department said Wednesday. The sharp decline in unemployment claims suggests …

Jobs report: US economy adds only 194,000 jobs in September
3 years, 2 months ago

Jobs report: US economy adds only 194,000 jobs in September

CNN  

New York CNN Business — America’s economic recovery has hit a roadblock: US employers added only 194,000 jobs in September, another troubling sign that Covid is disrupting the economy. “The weak jobs report shouldn’t be a surprise given the survey for it was taken near the peak of the Delta variant wave on September 12,” said Robert Frick, corporate economist …

August jobs report: America added only 235,000 jobs in August
3 years, 3 months ago

August jobs report: America added only 235,000 jobs in August

CNN  

New York CNN Business — America’s jobs recovery hit a major roadblock in August as the Delta variant threatened the labor market recovery, and the US economy added far fewer jobs than expected. Only 235,000 jobs were added back to the economy last month, the lowest number since January, vastly missing economists’ expectations. In normal times the August report would …

Opinion: US economic recovery speed has been record-breaking. But don’t get used to it
3 years, 4 months ago

Opinion: US economic recovery speed has been record-breaking. But don’t get used to it

CNN  

Editor’s Note: Lakshman Achuthan and Anirvan Banerji are co-founders of the Economic Cycle Research Institute. But even with the economy on track for full reopening in the months ahead and the jobless rate set to decline, economic growth is already decelerating, as we’re warning publicly for the first time here. Ominously, our work also shows a strong link between the …

U.S. Economy Accelerated At A Solid 6.5% Rate Last Quarter
3 years, 4 months ago

U.S. Economy Accelerated At A Solid 6.5% Rate Last Quarter

Huff Post  

LOADING ERROR LOADING WASHINGTON — Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. Thursday’s report from the Commerce Department estimated that the nation’s gross domestic product — its total output of goods and services — …

Giving People Money Is Apparently Not Crushing The Economy
3 years, 6 months ago

Giving People Money Is Apparently Not Crushing The Economy

Huff Post  

LOADING ERROR LOADING If the federal government’s efforts to help the economy are actually hurting it, as Republicans have been claiming, the best available data isn’t corroborating that theory. April’s jobs report fueled complaints from employers and Republicans, who said that the extra $300 per week Congress added to state unemployment benefits prevented people from taking jobs. Labor Secretary Marty …

Biden's Labor Secretary Says Let's Not Freak Out Over One Jobs Report
3 years, 6 months ago

Biden's Labor Secretary Says Let's Not Freak Out Over One Jobs Report

Huff Post  

LOADING ERROR LOADING Friday’s jobs report could say the economy added nearly a million jobs last month ― or it could be another bust, signaling that the U.S. won’t bounce back from the coronavirus pandemic as quickly as hoped. Either way, U.S. Labor Secretary Marty Walsh says people shouldn’t read too much into a single employment situation report. When the …

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy
3 years, 7 months ago

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy

Associated Press  

WASHINGTON — President Joe Biden and House Republicans alike are revising history when asserting that the new administration set records in U.S. job creation — either the best ever or among the worst, depending on the vantage point. He has created the most jobs in his first three months than any other president — about 1.5 million — but that’s …

The mystery of an American boom in jobs that didn’t occur
3 years, 7 months ago

The mystery of an American boom in jobs that didn’t occur

Live Mint  

In the run-up to last week’s US employment report, the forecasts of both economists and Wall Street analysts had migrated higher and pointed to an incredibly strong job-creation number for April. While firm conclusions about the reason will have to wait for more data over the next few weeks and months, the available partial evidence suggests possible stress and strains …

Job report: America added way fewer jobs than expected in April
3 years, 7 months ago

Job report: America added way fewer jobs than expected in April

CNN  

New York CNN Business — The pandemic continues to roil America’s economy, setting the job market on its head. That was far less than forecasts of economists, who had predicted America would add 1 million jobs last month. But nothing is normal in this pandemic era, and America is still down 8.2 million jobs versus February last year before the …

US recovery from pandemic recession is showing momentum
3 years, 7 months ago

US recovery from pandemic recession is showing momentum

Associated Press  

WASHINGTON — Powered by consumers and fueled by government aid, the U.S. economy is achieving a remarkably fast recovery from the recession that ripped through the nation last year on the heels of the coronavirus and cost tens of millions of Americans their jobs and businesses. The economy grew last quarter at a vigorous 6.4% annual rate, the government said …

March hiring accelerated to 916K, yet many jobs remain lost
3 years, 8 months ago

March hiring accelerated to 916K, yet many jobs remain lost

Associated Press  

WASHINGTON — America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen. Even with last month’s robust increase, the economy remains more than 8 million jobs short of the number it …

US job growth likely rose in February in rebound from slump
3 years, 9 months ago

US job growth likely rose in February in rebound from slump

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Yet with the nation still 10 million jobs short …

February Jobs Report Shows Large Recovery Gap Remains : The Indicator from Planet Money : NPR
3 years, 9 months ago

February Jobs Report Shows Large Recovery Gap Remains : The Indicator from Planet Money : NPR

NPR  

Still Not Good Tho Enlarge this image OLI SCARFF/AFP via Getty Images OLI SCARFF/AFP via Getty Images The labor market is still in rough shape, but it is improving. The Bureau of Labor Statistics just released the jobs report for the month of February, and it showed that the labor market created 379,000 jobs. More than 379,000 jobs created may …

Why US hiring could rebound faster than you might expect
3 years, 10 months ago

Why US hiring could rebound faster than you might expect

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Asked at a news conference last week whether widespread …

The engine of the US economy, consumer spending, sputters again
3 years, 10 months ago

The engine of the US economy, consumer spending, sputters again

Al Jazeera  

Surging COVID-19 infections and restrictions in December slammed the brakes on the engine of the US economy – consumer spending – for the second consecutive month. Business-sapping restrictions designed to contain spiralling COVID-19 infections slammed the brakes on the engine of the United States economy in December, as consumers kept their wallets snapped shut and hunkered down at home. Consumer …

Biden’s Covid plan has to work. The economy depends on it
3 years, 11 months ago

Biden’s Covid plan has to work. The economy depends on it

CNN  

New York CNN Business — The fate of the economic recovery is riding on President Joe Biden’s mission to speed up the lackluster rollout of coronavirus vaccines. “We won’t see a strong economic rebound until we get broad distribution of the vaccine,” said Kristina Hooper, chief global strategist at Invesco. Kevin Hassett, a former economic adviser to President Trump, told …

Economic recovery: Life could get back to normal this year. But the economy might not
3 years, 11 months ago

Economic recovery: Life could get back to normal this year. But the economy might not

CNN  

New York CNN Business — It’s tempting to think now that 2020 is over, the economy will soon snap back to normal. It could take much of 2021 for most Americans to get inoculated, however, and that means life won’t change for many households any time soon as people who can continue to work from home and some schools remain …

Joe Biden’s economic agenda is suddenly alive again. America could use the jobs
3 years, 11 months ago

Joe Biden’s economic agenda is suddenly alive again. America could use the jobs

CNN  

New York CNN Business — Democrats are on the cusp of taking control of the Senate, breathing new life into President-elect Joe Biden’s economic agenda at a time America’s job market could really need the help. That could help to create jobs in the long term – including one million jobs in the auto industry and 10 million clean energy …

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