US economy defies omicron and adds 467,000 jobs in January
2 years, 11 months ago

US economy defies omicron and adds 467,000 jobs in January

Associated Press  

WASHINGTON — In a surprising burst of hiring, America’s employers added a robust 467,000 jobs last month, a sign of the economy’s resilience in the face of a wave of omicron infections. “Employers have assumed that omicron would be painful but short term, so they haven’t changed their hiring plans,” said Mathieu Stevenson, the CEO of Snagajob, a job listings site focused on hourly workers. “Demand from employers is as strong as ever.” January’s hiring gain and sharp upward revisions to previous months mean that the United States has 1.1 million more jobs than government data had indicated only a month ago. Daniel Zhao, senior economist at the employment website Glassdoor, said the healthy hiring — not only for January but also for November and December — is a sign that last month’s gains weren’t merely a blip.

Job Jobs Work Workers Pay Hiring Month Fed Hernandez Sick Zhao Omicron  month  sick  hiring  zhao  omicron  job  working  work  defies  pay  jobs  467000  workers  economy  adds

History of this topic

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

U.S. employers added 336,000 jobs in September in a sign of economic resilience
1 year, 3 months ago

U.S. employers added 336,000 jobs in September in a sign of economic resilience

LA Times  

A FedEx driver makes deliveries in Palatine, Ill. Friday’s report from the Labor Department showed that the unemployment rate was unchanged at 3.8%, not far above a half-century low. The nation’s employers added 336,000 jobs in September, an unexpectedly robust gain that suggests that many companies remain confident enough to keep hiring despite high interest rates and a hazy outlook …

US job openings hit 10.1 million and labor market still strong despite Fed efforts to cool economy
1 year, 7 months ago

US job openings hit 10.1 million and labor market still strong despite Fed efforts to cool economy

Associated Press  

WASHINGTON — U.S. job openings rose unexpectedly in April, illustrating the resilience of the American labor market and complicating Federal Reserve efforts to fight inflation. Employers posted 10.1 million job openings last month, up from 9.7 million in March and the most since January, the Labor Department said Wednesday. Layoffs fell, but the number of people quitting their jobs — …

US added 428,000 jobs in April despite surging inflation
2 years, 8 months ago

US added 428,000 jobs in April despite surging inflation

Associated Press  

WASHINGTON — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. “With labor market conditions still this strong — including very rapid wage growth — we doubt that the Fed is going to abandon its hawkish plans,” said …

Omicron, trade weigh on U.S. economy in first quarter
2 years, 8 months ago

Omicron, trade weigh on U.S. economy in first quarter

The Hindu  

The U.S. economy unexpectedly contracted in the first quarter amid a resurgence in COVID-19 cases and drop in pandemic relief money from the government, but the decline in output is misleading as domestic demand remained strong. The first decrease in gross domestic product in close to two years, reported by the Commerce Department on Thursday, was mostly driven by a …

Strong job growth points to COVID’s fading grip on economy
2 years, 10 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 U.S. added 678,000 jobs in February. It's another sign of a hot labor market
2 years, 10 months ago

The U.S. added 678,000 jobs in February. It's another sign of a hot labor market

NPR  

The U.S. added 678,000 jobs in February. It's another sign of a hot labor market Enlarge this image toggle caption Matt Rourke/AP Matt Rourke/AP Hiring accelerated sharply last month as U.S. employers added 678,000 jobs, the largest gain since last July, and a resilient economy continues its recovery from the stubborn coronavirus pandemic. "I think as people start to feel …

Omicron hits hours worked as unemployment holds steady through January
2 years, 10 months ago

Omicron hits hours worked as unemployment holds steady through January

ABC  

If it felt to you like no-one was at work for large parts of January, then the latest official employment figures confirm your hunch. Key points: The unemployment rate remained steady at 4.2 per cent in January Hours worked plunged 8.8 per cent as a combination of extra annual leave and sick leave due to Omicron pushed up staff absences …

US economy adds 467,000 jobs in January, calming Omicron fears
2 years, 11 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, 11 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 …

Worker absenteeism triples because of Omicron
2 years, 11 months ago

Worker absenteeism triples because of Omicron

CNN  

New York CNN Business — The percentage of the adult population not working because of Covid-related reasons tripled between December and January, according to Goldman Sachs. Mark Zandi, chief economist at Moody’s Analytics, pointed out on Twitter that the survey shows a staggering 12 million people were “not working because they were sick with the virus, taking care of someone …

Omicron hasn’t stopped the jobs recovery – yet
3 years ago

Omicron hasn’t stopped the jobs recovery – yet

CNN  

New York CNN Business — America closed out 2021 with strong jobs gains, economists predict. Economists predict that the US labor market added 400,000 jobs in December, nearly double the prior month’s count, according to a poll from Refinitiv. On Wednesday, the ADP Employment Report, which measures private sector job growth, blew similar forecasts out of the water and showed …

Omicron spoiling US holiday economic comeback
3 years ago

Omicron spoiling US holiday economic comeback

Raw Story  

Holiday events have been scrapped in droves, thousands of flights canceled, cruises are now off limits: the Omicron variant has wreaked havoc in the United States, and the new year could see more issues exacerbating the worker shortage and the recent wave of price increases. "We are starting to see some initial signs that Omicron is having an impact on …

US jobless claims show no sign of rising even as Omicron spreads
3 years ago

US jobless claims show no sign of rising even as Omicron spreads

Al Jazeera  

The labour market recovery is staying the course, despite the threat of Omicron. Applications for state unemployment benefits in the United States were unchanged last week, signalling that the labour market continues to recover even as the Omicron variant of the coronavirus spreads across the country. Initial jobless claims – a proxy for layoffs – were little changed at a …

Omicron casts a new shadow over economy’s pandemic recovery
3 years ago

Omicron casts a new shadow over economy’s pandemic recovery

Associated Press  

Just as Americans and Europeans were eagerly awaiting their most normal holiday season in a couple of years, the omicron variant has unleashed a fresh round of fear and uncertainty — for travelers, shoppers, party-goers and their economies as a whole. “We don’t know whether this is good or bad for growth or inflation in the medium term,’’ said Megan …

UK businesses fear omicron will worsen staff shortages and derail recovery
3 years ago

UK businesses fear omicron will worsen staff shortages and derail recovery

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 UK businesses have warned that …

US job openings hover near record, but fewer workers quit
3 years, 1 month ago

US job openings hover near record, but fewer workers quit

Al Jazeera  

Fewer Americans are telling their bosses ‘I quit’, but the economy remains awash in jobs that are going begging. The United States economy is still awash in jobs, government data showed on Wednesday, but fewer Americans are telling their bosses “I quit.” The latest Job Openings and Labor Turnover Survey from the US Department of Labor showed job openings rose …

US economy: Omicron poses 3 major threats to recovery, says Jerome Powell
3 years, 1 month ago

US economy: Omicron poses 3 major threats to recovery, says Jerome Powell

CNN  

New York CNN Business — Here we go again. Federal Reserve Chairman Jerome Powell is set to testify Tuesday that the Omicron variant threatens America’s economic recovery. “The recent rise in Covid-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,” Powell wrote in prepared testimony he’s set …

Economic oddity: Record job openings and many unemployed
3 years, 4 months ago

Economic oddity: Record job openings and many unemployed

Associated Press  

WASHINGTON — The disconnect is jarring: Across the United States, employers who are desperate to fill jobs have posted a record-high number of job openings. On Wednesday, the Labor Department reported that employers posted 10.9 million job openings in July — the most on records dating to 2000. “But a fair number of unemployed or job seekers don’t feel that …

U.S. Economy Accelerated At A Solid 6.5% Rate Last Quarter
3 years, 5 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 — …

Job report: America added way fewer jobs than expected in April
3 years, 8 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 job openings in February reached highest rate on record
3 years, 9 months ago

US job openings in February reached highest rate on record

Associated Press  

WASHINGTON — The pace of job openings reached the highest level on record in February, a harbinger of healthy hiring and a hopeful sign for those looking for work. The job openings rate — which is the number of available jobs as a percentage of the employed and the open jobs, combined — rose to 4.9%, the highest since the …

March hiring accelerated to 916K, yet many jobs remain lost
3 years, 9 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 jobs report: 916,000 jobs added in March as pandemic recovery picks up speed
3 years, 9 months ago

US jobs report: 916,000 jobs added in March as pandemic recovery picks up speed

CNN  

New York CNN Business — The US economy’s recovery from the pandemic strengthened in March as employers added 916,000 jobs — the biggest gain since August, the Labor Department reported Friday. Delivery services, such as FedEx and United Parcel Service, which had already posted among the biggest job gains of the last year due to the increase in online shopping, …

Jump in hiring fuels optimism for US economic recovery
3 years, 10 months ago

Jump in hiring fuels optimism for US economic recovery

Associated Press  

WASHINGTON — U.S. hiring accelerated more quickly than expected last month, evidence that a year after the pandemic took hold, the economy is strengthening as virus cases drop and vaccinations ramp up. “The recovery really has some legs, some momentum now,” said Odeta Kushi, deputy chief economist at First American Financial Corp. Stocks see-sawed through the day but ended sharply …

US economy adds 638,000 jobs in October as recovery slows
4 years, 2 months ago

US economy adds 638,000 jobs in October as recovery slows

Al Jazeera  

While the US jobs market is moving in the right direction, the recovery is facing major headwinds including surging COVID-19 infections and the risk that struggling households will blow through their savings as federal virus relief aid dwindles. The economy added 638,000 jobs in October, the US Bureau of Labor Statistics reported on Friday – 34,000 fewer than September’s revised …

US economy adds 661,000 jobs in September as recovery slows
4 years, 3 months ago

US economy adds 661,000 jobs in September as recovery slows

Al Jazeera  

The unemployment rate falls at a time of rising uncertainty over the pace of the US economic recovery and Trump’s re-election bid after he tests positive for COVID-19. The United States economy added 661,000 jobs in September – fewer than many economists were expecting – while the unemployment rate fell to 7.9 percent, the US Department of Labor reported on …

US hiring slows amid signs of longer-lasting economic damage
4 years, 5 months ago

US hiring slows amid signs of longer-lasting economic damage

Associated Press  

WASHINGTON — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned. “There are whole parts of the economy that will remain unemployed until we have a much tighter control of this virus.” The jobs report …

Why two months of U.S. job gains doesn’t mean the economy has rebounded from the corornavirus
4 years, 6 months ago

Why two months of U.S. job gains doesn’t mean the economy has rebounded from the corornavirus

LA Times  

Accelerating job growth in June and a second straight month of declining unemployment fanned hopes for a fast recovery after the economy suffered near-Great Depression losses in the spring. “We may see we’re losing jobs in coming months,” Shierholz said, barring new action by Congress and Trump to extend the programs. “I can’t imagine going back to a restaurant job.” …

US economy loses a record 20.5 million jobs in April
4 years, 8 months ago

US economy loses a record 20.5 million jobs in April

Al Jazeera  

We have never seen anything like this before. Data from the US Bureau of Labor Statistics also showed the unemployment rate skyrocketed to 14.7 percent last month – the highest since the Great Depression. The average work week for all employees ticked up slightly in April to 34.2 hours, but Bureau of Labor Statistics commissioner William W Beach urged caution …

US job market looked robust before virus outbreak escalated
4 years, 10 months ago

US job market looked robust before virus outbreak escalated

Associated Press  

WASHINGTON — Hiring in the United States jumped in February as employers added 273,000 positions, evidence that the job market was in strong shape before the coronavirus began to sweep through the nation. “The outbreak will likely lead to postpone some hiring plans or even shed jobs if the situation worsens,” said Lydia Boussour, senior U.S. economist at Oxford Economics. …

US economy added 273,000 jobs in February
4 years, 10 months ago

US economy added 273,000 jobs in February

CNN  

New York CNN Business — America’s labor market remained buoyant in February, Friday’s jobs report showed. The US economy added 273,000 jobs in February, the US Bureau of Labor Statistics said Friday. The jobs report plus a better-than-expected services PMI from the Institute for Supply Management earlier in the week painted a very positive picture for the US economy, said …

January US jobs report may provide clarity amid disruptions
4 years, 11 months ago

January US jobs report may provide clarity amid disruptions

Associated Press  

WASHINGTON — With China’s viral outbreak disrupting trade and Boeing’s troubles weighing on American factories, the January U.S. jobs report on Friday may provide timely evidence of the U.S. economy’s enduring health. Along with January’s hiring data, the Labor Department is expected to report that the United States had 500,000 fewer jobs in March 2019 than previously estimated. But its …

Modest hiring enough to fuel sluggish but durable US economy
5 years, 4 months ago

Modest hiring enough to fuel sluggish but durable US economy

Associated Press  

WASHINGTON — Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy’s record-long expansion in the coming months. Yet with the economy still under threat from a weak global economy and President Donald Trump’s trade war with China, Chairman Jerome Powell made clear Friday that the Federal Reserve …

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