The service sector grew more slowly in May as production and prices cooled, according to a report from the Institute for Supply Management on Friday. … READ MORE >
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Government services companies are focusing on national defense, labor challenges
While the Russia-Ukraine war is understandably a top focus in the ecosystem, the demand for cutting-edge technological innovation persists along with the upskilled workforce needed to develop such solutions. … READ MORE >
U.S. May jobs report: Robust gains in total employment as wage increases ease
American firms continued to hire workers at a torrid pace in May to meet strong demand amid a historically tight labor market and 8.3% inflation. … READ MORE >
Chart of the day: Jobless claims fall amid tight labor market
Initial jobless claims fell by 5.2% last week to 200,000, a continuing reflection of the tight the labor market as layoffs remain near a multidecade low, according to government data released Thursday. … READ MORE >
RSM US Supply Chain Index: Inventory-led improvement in April
Supply chain bottlenecks improved in April yet remained significantly underwater. At the current pace, a full recovery will not take place until the first half of next year. … READ MORE >
Manufacturing sector grew steadily in May
The manufacturing sector expanded at the slightly faster rate in May as demand remained strong. … READ MORE >
Chart of the day: Job openings remain near record high
U.S. job openings fell 3.8% to 11.4 million in April amid economic moderation and monetary policy tightening. … READ MORE >
Bank of Canada raises interest rate to 1.5% to tame inflation
The Bank of Canada announced another 50-basis-point rate hike on Wednesday while it continued to shrink its balance sheet, another aggressive step in its campaign to tame inflation. … READ MORE >
RSM US Manufacturing Outlook Index shows 35% probability of recession over next year
The RSM US Manufacturing Outlook Index declined into negative terrain in May, signaling the impact of high inflation, rising interest rates, the lockdowns in China and the war in Ukraine. … READ MORE >
Canada’s economy cools but outlook remains positive
Canada’s GDP grew 3.1% in the first quarter of 2022 as business investment and household consumption continued to boom while energy exports dragged, according to data released by Statistics Canada on Tuesday. The figure was in line with the Bank of Canada’s forecast but noticeably under market expectations. While COVID-19 … … READ MORE >