Wait, layoffs and job growth? What’s going on with the economy and is recession still coming?
1 year, 11 months ago

Wait, layoffs and job growth? What’s going on with the economy and is recession still coming?

LA Times  

Only a few months ago many economists warned that a recession was not just inevitable, it was around the corner. But a funny thing happened on the way to hard times: The “Big R” for the U.S. economy now looks like it’s “Resilience,” not “Recession,” as economists at Bank of America recently put it. Instead of showing a slowdown in hiring last month, as normally happens in the prelude to a recession, employers added more than half a million jobs. Meanwhile, the inflation dragon continued to calm down, dropping to 6.5% from its high last year of 9.1%.

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History of this topic

Here’s the latest sign the job market is cooling
Trending News
3 days, 3 hours ago

Here’s the latest sign the job market is cooling

CNN  

CNN — The “Great Stay” deepened in November as the number of people who quit their jobs that month dropped to under 3.1 million, a level not seen since the height of the pandemic. The latest Job Openings and Labor Turnover Survey report, which was released Tuesday, also showed that hiring activity remained at a decade low, a further indication …

US hiring rebounds after slump on hurricanes, strike
1 month 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 …

What to expect from Friday’s jobs report: A massive bounce back from October’s dismal total
1 month ago

What to expect from Friday’s jobs report: A massive bounce back from October’s dismal total

CNN  

CNN — In October, the initial estimate for the month’s employment gains was a scant 12,000 jobs. “We had a report last month which I told my readers, ‘Just throw it away.’ The Bureau of Labor Statistics basically said, ‘You know, we really can’t tell you anything about the effect of the hurricanes,’” Dan North, Allianz Trade’s senior economist for …

Job openings rose while hiring dropped in October, labor report shows
1 month, 1 week ago

Job openings rose while hiring dropped in October, labor report shows

Salon  

Job openings and resignations increased substantially in October while the number of hires and layoffs dropped, according to a Tuesday report from the Bureau of Labor Statistics that showed a mixed picture of the U.S. labor market. The increased number of job openings appeared mostly in professional and business services, as well as service and IT industries, jumping by 372,000 …

As unemployment rises, Labour looks set to crash into a jobs problem. How will it respond?
1 month, 4 weeks ago

As unemployment rises, Labour looks set to crash into a jobs problem. How will it respond?

The Independent  

Is Labour hurtling towards a jobs problem? The rate of unemployment among people aged 16 and above rose to 4.3 per cent over the July to September reporting period. Wage rises have certainly continued to moderate; earnings excluding bonuses grew 4.8 per cent in the year to July to Sept 2024, the lowest since Apr to June 2022, when the …

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

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

U.S. job growth improved in August, but hiring trend is slowing. What will the Fed do?
4 months ago

U.S. job growth improved in August, but hiring trend is slowing. What will the Fed do?

LA Times  

Job growth picked up in August from the sluggish pace of hiring the previous month, providing a bit of relief after a sharp slowdown earlier in the summer roiled financial markets, sparked fears of a recession and threatened to disrupt the momentum Vice President Kamala Harris and her campaign had built up. August job numbers for individual states won’t be …

The job market might be more fragile than previously thought
4 months, 2 weeks ago

The job market might be more fragile than previously thought

NPR  

The job market might be more fragile than previously thought NPR’s Ailsa Chang talks to senior economist at Wells Fargo, Sarah House, about the revision in jobs numbers that show the U.S. economy employed 818,000 fewer people that originally reported in March. HOUSE: Yeah, so it is pretty surprising to see that sort of downward revision when the economy is …

US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears
5 months, 1 week 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 …

Unemployment rises again in July, reviving worries of a recession
5 months, 1 week ago

Unemployment rises again in July, reviving worries of a recession

LA Times  

People visit the California Employment Development Department office in Sacramento. U.S. job growth slowed sharply last month and the unemployment rate rose to a nearly three-year high of 4.3%, the latest sign of a cooling labor market, the government reported Friday. Employers added 114,000 jobs in July, well below economists’ projections and down from an average monthly gain of 215,000 …

Wage growth falls back further but continues to outstrip inflation
5 months, 3 weeks ago

Wage growth falls back further but continues to outstrip inflation

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. The Office for National Statistics said average regular earnings …

Why the recession still isn’t here
7 months ago

Why the recession still isn’t here

Live Mint  

Steady hiring continues to fuel consumer spending and, in turn, an economic expansion unlike any the U.S. has seen. “Last year, at the first sign of higher rates, people ran for the hills, so it seems like the consumer is more battle-hardened now," he said. “If you keep interest rates at this level, there will be folks who just can’t …

Will the US unemployment rate continue at historic lows?
9 months 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 …

Why Tech Layoffs are Still Continuing in March 2024, Which Industries are Recession-Proof?
9 months, 1 week ago

Why Tech Layoffs are Still Continuing in March 2024, Which Industries are Recession-Proof?

News 18  

A CEO of a technology company fired hundreds of employees over a phone call. This news is nothing new as several IT companies have been on a firing spree since November 2023, and, unfortunately, the trend is still continuing in March 2024. Tech giant Google has warned its employees to “brace for more layoffs”, as Alphabet removed thousands of its …

US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strong
10 months ago

US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strong

Associated Press  

WASHINGTON — U.S. job openings barely changed in January but remained elevated, suggesting that the American job market remains healthy. The Labor Department reported Wednesday that U.S. employers posted 8.86 million job vacancies in January, down slightly from 8.89 million in December and about in line with economists’ expectations. Job openings have declined since peaking at a record 12 million …

Job growth is trending up even as some industries experience big layoffs. This is why
11 months ago

Job growth is trending up even as some industries experience big layoffs. This is why

Associated Press  

WASHINGTON — Blockbuster job growth in the past several months has coincided with high-profile layoff announcements by a number of large companies. Relative to the U.S. labor force of 160 million people, layoffs so far have been dwarfed by consistently vigorous hiring — a monthly average of 248,000 jobs added over the past six months. The Labor Department doesn’t track …

The US didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs
11 months, 1 week 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
11 months, 1 week 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 …

Solid US hiring lowers unemployment rate in latest sign of a still-sturdy job market
1 year, 1 month ago

Solid US hiring lowers unemployment rate in latest sign of a still-sturdy job market

Associated Press  

WASHINGTON — U.S. employers added a healthy 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve’s 2% target without causing a steep recession. “From my perspective,” Seyedian said, “the economy is still strong, and people still want to spend money.” …

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market
1 year, 1 month ago

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market

LA Times  

Mechanic David Stoliaruk works on the engine of a car at IC Auto in Philadelphia on May 2. The nation’s employers added a solid 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve’s 2% target without causing a steep recession. …

U.S. employers pulled back on hiring in October, adding 150,000 jobs
1 year, 2 months ago

U.S. employers pulled back on hiring in October, adding 150,000 jobs

LA Times  

Workers pour concrete to create part of a bus stop in the Manhattan borough of New York City on Oct. 12. The nation’s employers slowed their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market may be cooling but remains resilient despite high interest rates that have made borrowing much costlier for …

Recession looming as jobs market weakens, says Bank rate-setter
1 year, 2 months ago

Recession looming as jobs market weakens, says Bank rate-setter

The Telegraph  

Ms Dhingra was speaking as economists said official data showing a slowdown in pay growth would fuel hopes the Bank of England has raised rates far enough to weaken the jobs market and ease a key driver behind inflation. Average weekly earnings in the three months to August were up 8.1pc compared with the same period last year, slowing from …

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 employers added a solid 187,000 jobs in August in sign of a still-resilient labor market
1 year, 4 months ago

US employers added a solid 187,000 jobs in August in sign of a still-resilient labor market

Associated Press  

WASHINGTON — America’s employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Last month’s job growth marked an increase from July’s revised gain of 157,000 but still pointed to a moderating pace of hiring compared with the sizzling gains of last year and earlier this …

U.S. employers added a solid 187,000 jobs in August in sign of still-resilient labor market
1 year, 4 months ago

U.S. employers added a solid 187,000 jobs in August in sign of still-resilient labor market

LA Times  

A construction worker wires rebar for a foundation March 17 in Boston. U.S. employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Friday’s report from the Labor Department showed that the unemployment rate rose from 3.5% to 3.8%, the highest level since February 2022 though …

US economic growth for last quarter is revised down to a 2.1% annual rate
1 year, 4 months ago

US economic growth for last quarter is revised down to a 2.1% annual rate

Associated Press  

WASHINGTON — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The Commerce Department’s second estimate of growth last quarter marked a slight acceleration from a 2% annual growth rate from …

Hiring slowed in July, but U.S. employers added a still-solid 187,000 jobs
1 year, 5 months ago

Hiring slowed in July, but U.S. employers added a still-solid 187,000 jobs

LA Times  

Jose Viveros delivers beverages in Los Angeles’ Little Tokyo on July 27. U.S. employers added 187,000 jobs last month, fewer than expected, as higher interest rates continued to weigh on the economy. Increasingly, economists are expressing confidence that inflation fighters at the Fed can pull off a rare “soft landing” — raising interest rates just enough to rein in rising …

Job openings fall to lowest level in two years as demand for workers cools
1 year, 5 months ago

Job openings fall to lowest level in two years as demand for workers cools

Associated Press  

WASHINGTON — U.S. employers posted fewer jobs in June, a sign that the red-hot demand for workers that has been a key feature of the post-pandemic economy is cooling a bit. The government’s report also showed that the number of people who quit their jobs in June fell sharply to 3.8 million, from 4.1 million, another sign the job market …

The number of available jobs in the US just fell to its lowest level in more than two years
1 year, 5 months ago

The number of available jobs in the US just fell to its lowest level in more than two years

CNN  

Minneapolis CNN — Bit by bit, the US labor market is settling down from the rolling boil of the past three years: The number of job openings dipped to its lowest point in more than two years, according to data from the Bureau of Labor Statistics released on Tuesday. “Both a recession and a soft landing look like this.” The …

The US labor market cooled off in June, adding just 209,000 jobs
1 year, 6 months ago

The US labor market cooled off in June, adding just 209,000 jobs

CNN  

Minneapolis CNN — The US job market cooled back down in June, adding just 209,000 jobs, and fueling optimism that the economy is on course to nail that elusive soft landing of lowering inflation without triggering a recession. The June job gains, released Friday by the Bureau of Labor Statistics, were nearly 100,000 positions below May’s stronger-than-expected showing of 306,000 …

US job growth slows in June; unemployment rate falls to 3.6%
1 year, 6 months ago

US job growth slows in June; unemployment rate falls to 3.6%

Al Jazeera  

Despite the lower numbers, the labour market remains resilient, even as Fed predicts more rate hikes. Job growth in the United States slowed more than expected in June after surging in the prior month, but labour market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage gains continuing. Though job growth is slowing, …

U.S. job openings dip to 9.8 million but remain high, showing resilience in labor market
1 year, 6 months ago

U.S. job openings dip to 9.8 million but remain high, showing resilience in labor market

Associated Press  

WASHINGTON — U.S. job openings slipped in May but remained at levels high enough to illustrate that the American labor market remains resilient in the face of sharply higher interest rates. Employers posted 9.8 million job vacancies, down from 10.3 million in April, the Labor Department said Thursday. The Labor Department’s Job Openings and Labor Turnover Survey, “continues to reflect …

The temporary madness of modern politics: is our strongest market a harbinger of recession?
1 year, 6 months ago

The temporary madness of modern politics: is our strongest market a harbinger of recession?

ABC  

Stephen Hawking, the scientific genius who solved some of the deepest secrets of our universe, summed up the fundamental problems facing modern economists. Rates and jobs part ways Not so long ago, in time before we were all sent home, the "natural rate" of unemployment was considered to be around 5 per cent. Inflation didn't immediately take off after Australia's …

The jobs market is strong for now, but unemployment will be the last indicator of recession
1 year, 6 months ago

The jobs market is strong for now, but unemployment will be the last indicator of recession

ABC  

The latest unemployment numbers had a lot of us scratching our heads — economists, journalists, financial traders, possibly even the statisticians themselves. After more than a year of interest rate rises at the fastest pace in recent history, all while Australians hold more debt than they ever have before, employers added close to 76,000 extra staff pushing unemployment back down …

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 — …

The employment tide has turned, and top economists have a stark warning for all workers
1 year, 7 months ago

The employment tide has turned, and top economists have a stark warning for all workers

ABC  

One thing will separate Australians who really struggle later this year from those who won't and economists are trying to get the word out. "With employment dropping by around 4,000 people and the number of unemployed increasing by 18,000 people, the unemployment rate rose to 3.7 per cent," said Bjorn Jarvis, head of labour statistics at the ABS. The investment …

Inflation stayed high last month, compounding the challenges facing the U.S. economy
1 year, 8 months ago

Inflation stayed high last month, compounding the challenges facing the U.S. economy

NPR  

Inflation stayed high last month, compounding the challenges facing the U.S. economy Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images Inflation remained stubbornly high last month after more than a year of rising interest rates. "My feeling is that there's a gradual slowdown here, but March seemed a little too good to be true," said Omair Sharif, …

How will we know if the US economy is in a recession?
1 year, 8 months ago

How will we know if the US economy is in a recession?

Associated Press  

WASHINGTON — The government’s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S. history has yet to arrive. The economy’s direction has confounded the Fed’s policymakers and many private economists ever since growth screeched to a halt in March 2020, when COVID-19 struck and 22 million …

How will we know if the US economy is in a recession?
1 year, 8 months ago

How will we know if the US economy is in a recession?

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. The economy's direction has confounded the Fed's policymakers and …

An unexpected job surge confounds the Fed’s economic models
1 year, 11 months ago

An unexpected job surge confounds the Fed’s economic models

Associated Press  

WASHINGTON — Does the Federal Reserve have it wrong? “Like $20 bills on the sidewalk and free lunches, falling inflation paired with falling unemployment is the stuff of economics fiction.” In economic models used by the Fed and most mainstream economists, a job market with strong hiring and a low unemployment rate typically fuels higher inflation. Chair Jerome Powell has …

January may have delivered lower, if still solid, job growth
1 year, 11 months ago

January may have delivered lower, if still solid, job growth

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 The American economy has an …

US adds a surprisingly strong 517,000 jobs despite Fed hikes
1 year, 11 months ago

US adds a surprisingly strong 517,000 jobs despite Fed hikes

Al Jazeera  

The labour force participation rate is at its highest since March but still below pre-pandemic levels. Employers in the United States added 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. Friday’s government report added to the picture of a resilient labour …

U.S. adds a surprisingly strong 517,000 jobs despite Fed hikes
1 year, 11 months ago

U.S. adds a surprisingly strong 517,000 jobs despite Fed hikes

LA Times  

A hiring sign is displayed at a restaurant in Rolling Meadows, Ill., on Monday. America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. America’s employers added a sizzling 517,000 jobs in January, a surprisingly strong gain in …

US job openings increase to five-month high, manufacturing slumps
1 year, 11 months ago

US job openings increase to five-month high, manufacturing slumps

Al Jazeera  

Gap between job openings and hiring suggests wage growth could remain high, an indicator that interest rates could rise. Job openings in the United States unexpectedly rose in December, showing demand for labour remains strong despite higher interest rates and mounting fears of a recession, which could keep the Federal Reserve on its policy tightening path. There were 1.9 job …

How will we know if the US economy is in a recession?
1 year, 11 months ago

How will we know if the US economy is in a recession?

Associated Press  

WASHINGTON — The second consecutive quarter of economic growth that the government reported Thursday underscored that the nation isn’t in a recession despite high inflation and the Federal Reserve’s fastest pace of interest rate hikes in four decades. The economy’s direction has confounded the Fed’s policymakers and many private economists ever since growth screeched to a halt in March 2020, …

Can US avoid a recession? As inflation eases, optimism rises
1 year, 11 months ago

Can US avoid a recession? As inflation eases, optimism rises

Associated Press  

WASHINGTON — For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging. These trends are raising expectations that the Fed might manage to engineer an often-elusive “soft landing,” whereby the economy slows but doesn’t go into reverse and unemployment rate rises slightly but stays low. …

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

U.S. added 223,000 jobs in December, capping off strong 2022
2 years ago

U.S. added 223,000 jobs in December, capping off strong 2022

CBS News  

U.S. added 223,000 jobs in December Labor Department says U.S. added 223,000 jobs in December 05:21 The red-hot job market capped off 2022 on a high note, with employers adding 223,000 jobs in December, the Labor Department reported Friday. "It's hard to imagine a jobs report in better balance," said Robert Frick, corporate economist with Navy Federal Credit Union, in …

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