Commercial paper issuance is strong and resembles the robust recovery in corporate activity that took place after the financial crisis. The level of commercial paper outstanding is mirroring the increase in economic activity that began in the fourth quarter of last year. … READ MORE >
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Chart of the day: The ‘real’ unemployment rate is 8.2%
The headline U3 unemployment rate of 4.8% for September is probably an undercount of the number of out-of-work people in the United States. … READ MORE >
How $15 an hour became the de-facto minimum wage
A new de-facto entry-level wage of $15 per hour is becoming the national standard in the private sector. The shock to the economy unleashed by the pandemic and the response by workers have radically transformed the wage-earning landscape. … READ MORE >
5 things to know in life sciences: Week of October 4
From artificial intelligence advancements to researchers understanding our “second brain,” each week we highlight five things to know in the life sciences industry. … READ MORE >
Canada’s employment is back to pre-pandemic levels
Canada added an encouraging 157,000 jobs in September, bringing its total employment to just over the February 2020 level. … READ MORE >
September U.S. jobs report: One-time factors dampen hiring as unemployment rate falls to 4.8%
Widespread disruption to supply chains, the impact of Hurricane Ida, modest delays in the reopening of schools and day care centers and seasonal noise in the employment data all combined to dampen hiring in September. … READ MORE >
Initial jobless claims fell more than expected as labor market gained momentum
First-time claims for jobless benefits—a proxy for layoffs—posted a significant 10.4% drop for the week ending Oct. 2 to 326,000, in a sign that the labor market continues to be tight. … READ MORE >
In a possible sign of things to come, looming debt-ceiling crisis induces a flight to cash
The front end of the Treasury curve is flashing red because of the possibility of another black swan event—the threat of default on Treasury securities on or around Oct. 18. … READ MORE >
ADP private payrolls report: Strong rebound, but not for middle market firms
Nonfarm private employment showed a surprisingly strong rebound in September after a disappointing August, according to data released by ADP on Wednesday. … READ MORE >
U.S. September jobs preview: Expect a modest gain amid special factors and seasonal adjustments
The U.S. September employment report will most likely feature a net change in total employment of 375,000 and a decline in the unemployment rate to 5.1% when it is released on Friday. … READ MORE >