US economy added 114,000 jobs in July in significant dip from June while unemployment increased to highest level since October 2021
The US labor market cooled significantly last month as unemployment unexpectedly rose, sparking fears of a slowdown across the world’s largest economy.
American employers added 114,000 jobs in July – short of the 180,000 additions expected by economists, and a marked decrease from the 179,000 added in June.
Continue reading...Figures show unexpected resiliency of job market as officials try to tamp down 3.4% inflation
The US economy added 272,000 jobs in May, a sign the labor market continued strong amid high interest rates, the Bureau of Labor Statistics announced on Friday.
The number of May jobs was far higher than the 190,000 economists had expected and topped April’s gains, when a revised 165,000 jobs were added to the economy. The unemployment rate rose to 4% for the first time since January 2022, up from 3.9% in April.
Continue reading...Number of new jobs matches July’s total, reflecting resilience of labor market even with high interest rates
The US jobs market is holding steady as interest rates sit at a 22-year high, with US employers adding 187,000 jobs in August, according to the Bureau of Labor Statistics (BLS).
The number of new jobs added in August is the same as the number of new jobs in July, showing that the labor market, down to levels seen before the pandemic, is resilient even with high interest rates.
Continue reading...Final jobs report before midterms shows unemployment rate at 3.7%, a day after Federal Reserve announced further raise hike
The US economy added 261,000 jobs in October, the labor department announced on Friday in its last snapshot of the health of the employment market before next week’s midterm elections.
The latest report confirmed the remarkable strength of the US jobs market. The unemployment rate rose to 3.7%, still close to a 50-year low. The news comes after the Federal Reserve once again raised interest rates in a bid to slow investment and bring down inflation, a move that economists and the Fed predict will eventually cost jobs.
Continue reading...US unemployment rate held steady at 3.6%, labor department said, as jobs report indicated resilience
The US economy added 372,000 jobs in June, an indicator of resilience despite signs of slowing economic growth.
The jobs reports is seen as a key indicator on whether high inflation – and central bank efforts to tame it with interest rates rises – is beginning to bite down on the wider American economy.
Continue reading...US stock market is suffering its worst day since June, as Apple and Tesla lead stock markets into the red
Earlier:
US traders can now catch their collectives breath after the choppiest trading session in several weeks.
It wasn’t as dramatic as the massive selloffs back in February and March (which still give me the shivers), but certainly a volatile day.
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Today’s losses mean the Dow is slightly negative for 2020, while the tech-heavy Nasdaq Composite index is still up 27% since January.
Continue reading...Drop in quarterly gross domestic product comes as 1.43m people file for unemployment benefits, a second week of increases, amid Covid-19 pandemic
The US economy shrank by an annual rate of 32.9% between April and June, its sharpest contraction since the second world war, government figures revealed on Thursday, as more signs emerged of the coronavirus pandemic’s heavy toll on the country’s economy.
The record-setting quarterly fall in economic growth compared to the same time last year came as another 1.43 million Americans filed for unemployment benefits last week, a second week of rises after a four-month decline.
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