The job market slowdown is getting hard to ignore
1 year, 1 month ago

The job market slowdown is getting hard to ignore

Live Mint  

It’s easy to look at the rise in the unemployment rate over the past six months and attribute it to a growing labour force, as Goldman Sachs Group Inc. argued over the weekend, or a normal rebalancing of the economy that will help control inflation, as I suggested last week was one possibility. ​For people who are unemployed or not in the workforce but looking to find a job, the labour market can be best described as balanced, with a bias toward worsening rather than strengthening. Additionally, in the monthly jobs report, the number of people who have been unemployed for at least five weeks saw double-digit percentage increases in September and October on a year-over-year basis, gains that in the past 25 years have meant the economy was already in recession. While this may be the right way to think about the data — and I expect the economy to skirt a recession in 2024 — it’s reasonable to expect conditions to weaken from here given Fed Chair Jerome Powell believes monetary policy is “probably significantly restrictive.” Any further weakening in the hiring rate or increase in the layoff rate would shift labour market dynamics from bifurcated or balanced to one where a majority of workers begin to grow concerned about holding onto or getting a job.

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History of this topic

US job data: These are the top hiring sectors as employers add 227,000 jobs in November
2 weeks, 4 days ago

US job data: These are the top hiring sectors as employers add 227,000 jobs in November

Hindustan Times  

Amid fears of massive tariffs and inflation, November proved to be a strong month for job creation in the United States. Health Care, Hospitality, and Government: Top performing sectors The biggest job gains came from private education and health services, which added 79,000 positions. Government hiring contributed 33,000 positions, while other sectors also performed well, with manufacturing showing strong job …

November jobs report shows healthy labor market with 227,000 new roles - up dramatically from slow October
2 weeks, 4 days ago

November jobs report shows healthy labor market with 227,000 new roles - up dramatically from slow October

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy America's job market rebounded …

US added a strong 227,000 jobs in November in bounce-back from October slowdown
Top News
2 weeks, 4 days ago

US added a strong 227,000 jobs in November in bounce-back from October slowdown

Associated Press  

WASHINGTON — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. The November employment report provided the latest evidence that the U.S. job market remains durable even though it has lost significant momentum from the 2021-2023 hiring boom, when the …

US hiring rebounds after slump on hurricanes, strike
2 weeks, 4 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 …

What to expect from Friday’s jobs report: A massive bounce back from October’s dismal total
2 weeks, 5 days 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
3 weeks 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 …

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, 2 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 …

US Jobs data: Payroll gains miss expectations at a disappointing 142,000
3 months, 2 weeks ago

US Jobs data: Payroll gains miss expectations at a disappointing 142,000

Hindustan Times  

August payrolls expanded by 142,000, weaker than expected. US job gains for the past twelve months ending in March showed there were 818,000 fewer jobs than previously reported in the largest downward revision since 2009. It’s not disaster, but it’s below expectations on the headline, and what really bothers me is the revisions,” said Dan North, senior economist for North …

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 …

The job market might be more fragile than previously thought
4 months 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
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 …

US labour market generates 206,000 jobs in June, unemployment rate increases to 4.1%
5 months, 2 weeks ago

US labour market generates 206,000 jobs in June, unemployment rate increases to 4.1%

Hindustan Times  

The United States added 206,000 jobs in June, which was less than the previous month but still more than predicted. The US unemployment rate increased slightly from 4% to 4.1 percent, according to the Bureau of Labor Statistics' report released on Friday. According to the Bureau of Labor Statistics' report released on Friday, the US unemployment rate increased slightly from …

US employers added a solid 206,000 jobs in June in a sign of continued economic strength
5 months, 2 weeks ago

US employers added a solid 206,000 jobs in June in a sign of continued economic strength

Associated Press  

WASHINGTON — America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand high interest rates. Just two sectors — government and a category that includes healthcare and social assistance, neither of which captures the economy’s underlying strength — accounted for roughly three-quarters of June’s job growth. Economists …

U.S. employers added a solid 206,000 jobs in June in a sign of continued economic strength
5 months, 2 weeks ago

U.S. employers added a solid 206,000 jobs in June in a sign of continued economic strength

LA Times  

America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand high interest rates. In addition, just two sectors — government and a category that includes healthcare and social assistance, neither of which captures the economy’s underlying strength — accounted for roughly three-quarters of June’s job growth. Economists …

US job openings fall to 8.1 million, lowest since 2021, but remain at historically high levels
6 months, 2 weeks ago

US job openings fall to 8.1 million, lowest since 2021, but remain at historically high levels

Associated Press  

WASHINGTON — U.S. job openings fell in April to the lowest level since 2021. Monthly job openings have come down steadily a peak of 12.2 million in March 2022 — as the economy’s recovery from COVID-19 lockdowns left companies desperate for workers — but they remain at a high level. Fed policymakers likely welcome lower job openings — a relatively …

US employers scaled back hiring in April. How that could let the Fed cut interest rates
7 months, 3 weeks ago

US employers scaled back hiring in April. How that could let the Fed cut interest rates

Associated Press  

WASHINGTON — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Even with the April hiring slowdown, last month’s job growth amounted to a solid increase, though it was the lowest monthly gain since …

Jobs market 'incredibly tight' despite rise in unemployment
8 months ago

Jobs market 'incredibly tight' despite rise in unemployment

ABC  

Australia's headline unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7,000 people and unemployment rose by 21,000 people. "Despite a small drop in employment, Australia's labour market remains incredibly tight," said Callam Pickering, APAC senior economist at global job site Indeed. "The easing in the labour market since late 2022 is most evident in …

US job openings rise modestly to 8.8 million in February in strong labor market
8 months, 3 weeks ago

US job openings rise modestly to 8.8 million in February in strong labor market

Associated Press  

WASHINGTON — U.S. job openings barely changed in February, staying at historically high levels in a sign that the American job market remains strong. But the Job Openings and Labor Turnover Survey, or JOLTS, showed that layoffs ticked up to 1.7 million in February from 1.6 million in January, highest since March 2023. “Job openings are still elevated relative to …

The U.S. created an extraordinary number of jobs in January. Here's a deeper look
10 months, 3 weeks ago

The U.S. created an extraordinary number of jobs in January. Here's a deeper look

NPR  

The U.S. created an extraordinary number of jobs in January. The job market has held up remarkably well, despite the Federal Reserve's effort to fight inflation with the highest interest rates in more than two decades. Enlarge this image toggle caption Anna Moneymaker/Getty Images Anna Moneymaker/Getty Images But the sizzling job market could delay a cut in interest rates Powell …

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 …

Five Things You Need to Know to Start Your Day: Americas
10 months, 3 weeks ago

Five Things You Need to Know to Start Your Day: Americas

Bloomberg  

It’s payrolls day and the debate is whether the US jobs market is as strong as Powell says. ADP Chief Economist Nela Richardson explains in this video the three things she is watching for in today’s release. Bloomberg Economics sees the unemployment rate edging up to 3.8%, from 3.7% in December, and says the numbers will show a slower pace …

US job openings rose in December, pointing to a still-durable labor market
10 months, 3 weeks ago

US job openings rose in December, pointing to a still-durable labor market

Associated Press  

WASHINGTON — America’s employers posted 9 million job openings in December, an increase from November and another sign that the U.S. job market remains resilient despite the headwind of higher interest rates. The U.S. economy and job market have remained surprisingly durable despite sharply higher interest rates, which have led to higher borrowing rates for consumers and businesses. Higher rates …

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 …

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

US employers tighten hands adding 1,50,000 jobs in October
1 year, 1 month ago

US employers tighten hands adding 1,50,000 jobs in October

Live Mint  

As the United States economy struggles with the high inflation and subsequent measures by the Federal Reserve, job growth has witnessed a sharp decline with 1,50,000 hirings in October. The number still looks decent but is considerably less when compared to September when the job growth stood robust at 2,97,000. The math looks far better when seen with a yearly …

U.S. employers pulled back on hiring in October, adding 150,000 jobs
1 year, 1 month 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 …

Unemployment rate unchanged but signs point to cooling jobs market
1 year, 2 months ago

Unemployment rate unchanged but signs point to cooling jobs market

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 UK jobless rate remained …

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 …

US labor market added 336,000 jobs in September - DOUBLE analysts' predictions - sending markets plunging as investors fear more Fed rate hikes for overheated economy
1 year, 2 months ago

US labor market added 336,000 jobs in September - DOUBLE analysts' predictions - sending markets plunging as investors fear more Fed rate hikes for overheated economy

Daily Mail  

Despite the job gains, wage growth was down and unemployment steady September's labor report showed a sharp uptick in new jobs, heating up the Fed's battle to curb inflation. The US economy added 336,000 jobs last month, nearly twice economists' expectations of 170,000, and the largest jump since January, the U.S. Bureau of Labor Statistics reported. Following Friday's report, markets …

A surge of hiring in September defies predictions, pointing to US job market’s enduring resilience
1 year, 2 months ago

A surge of hiring in September defies predictions, pointing to US job market’s enduring resilience

Associated Press  

WASHINGTON — An unforeseen burst of hiring last month has lifted hopes that the economy will prove durable once again, even as an array of threats lie ahead. Friday’s government report raised hopes for a notoriously difficult “soft landing,” by which the Federal Reserve would manage to curb high inflation with a series of rate hikes without derailing the economy. …

More evidence that the US job market remains hot after US job openings rise unexpectedly in August
1 year, 2 months ago

More evidence that the US job market remains hot after US job openings rise unexpectedly in August

Associated Press  

WASHINGTON — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve. American employers posted 9.6 million job openings in August, up from 8.9 million in July and the first uptick in three months, the Labor Department said Tuesday. …

US employers added a solid 187,000 jobs in August in sign of a still-resilient labor market
1 year, 3 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, 3 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 …

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession
1 year, 4 months ago

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession

Associated Press  

WASHINGTON — The job market has cooled over the summer. And the Fed’s inflation fighters will welcome news that more Americans entered the job market last month, easing pressure on employers to raise wages to attract and keep staff. “These numbers,’' acting Labor Secretary Julie Su said after the jobs report came out, “are inconsistent with recession.’' There’s other evidence …

Hiring slowed in July, but U.S. employers added a still-solid 187,000 jobs
1 year, 4 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 …

The US was just downgraded, but the jobs report will likely be strong
1 year, 4 months ago

The US was just downgraded, but the jobs report will likely be strong

CNN  

Minneapolis CNN — Despite Tuesday’s credit rating downgrade amid concerns about the challenges facing the United States, markets and economists are expecting another solid jobs report on Friday. “Usually, fiscal policy affects the labor market fairly slowly, but political crises have the potential to have a more immediate impact and if there’s a government shutdown or similar crisis in the …

The number of available jobs in the US just fell to its lowest level in more than two years
1 year, 4 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 U.S. labor market is starting to show cracks. Here are the signs
1 year, 5 months ago

The U.S. labor market is starting to show cracks. Here are the signs

LA Times  

A look beneath solid headline jobs numbers shows some cracks are starting to form in the U.S. labor market. Here are the signs: Growth slowdown Employers added 209,000 payroll jobs in June — the smallest monthly increase since the end of 2020 — and downward revisions to the prior two months showed hiring slowing more than previously thought. “It seems …

The US labor market cooled off in June, adding just 209,000 jobs
1 year, 5 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, 5 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, 5 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 …

Hiring Slows Down by 7% In May, Companies Are Cautious, Cut Expenses: Report
1 year, 6 months ago

Hiring Slows Down by 7% In May, Companies Are Cautious, Cut Expenses: Report

News 18  

Hiring activities have slowed down by 7 per cent in May compared to the same month last year mainly due to companies adopting cautious approach to cut expenses on the back of economic slowdown, a report said on Thursday. Commenting on job trends for May 2023, Sekhar Garisa, CEO – foundit, a Quess company, said, “The current hiring trend reflects …

Amazingly, the U.S. job market continues to roar. Here are the 5 things to know
1 year, 6 months ago

Amazingly, the U.S. job market continues to roar. Here are the 5 things to know

NPR  

Amazingly, the U.S. job market continues to roar. The latest employment report from the Labor Department showed the country's job market remained red hot, with 339,000 jobs added in May. In addition to last month's big number, job growth for March and April – which were already pretty solid – were revised even higher, by a total of 93,000 jobs. …

US job openings hit 10.1 million and labor market still strong despite Fed efforts to cool economy
1 year, 6 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 — …

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