New filings for unemployment insurance last week ticked up to 207,000 from 198,000, continuing to stay below the pre-pandemic level amid a tight labor market where businesses are holding onto their workers. … READ MORE >
Economics
ADP jobs report: Service sector led an upside surprise in December
Private businesses in the United States added 807,000 jobs in December, the most since May, pointing to a stronger rebound of the labor market, according to a report from ADP on Wednesday. … READ MORE >
Canada’s building permits hit a record in November
Canadian building permits rose by 6.8% in November to an all-time-high of 11.2 billion CAD, the third straight monthly increase demand for residential housing remained strong. … READ MORE >
December jobs report preview: Expect the unemployment rate to fall to 4.1%
We expect a net change in total employment of 475,000 jobs and a decline in the unemployment rate to 4.1% when the jobs report for December is published on Friday. … READ MORE >
Labor market tightened in November despite decline in job openings
Demand for labor declined slightly in November while the rate of people quitting their jobs returned to an all-time high, according to new data from the Bureau of Labor Statistics. … READ MORE >
Chart of the day: Manufacturing sector grows at a slower pace
The manufacturing sector continued to grow in December but at a slightly lower rate compared to November, according to data released by the Institute for Supply Management on Tuesday. … READ MORE >
Monetary and fiscal policy in a changing economy: Meeting the Fed’s full employment mandate
As workers have returned to the labor force, incomes have risen and the unemployment rate has dropped to 4.2%, a robust discussion has followed over what constitutes full employment in the American economy. … READ MORE >
RSM US Manufacturing Outlook Index: Expansion continues despite omicron, supply chain uncertainty
The RSM US Manufacturing Outlook Index remained solid in December at 1.3 standard deviations above neutral as the economy continued to expand into the end of the year. But that strength is in question as the omicron variant continues to spread. … READ MORE >
Consumer confidence surveys reflect a bifurcation of the nation’s economy
Recent readings of consumer confidence are revealing an increasingly bifurcated economy as households continue to grapple with the pandemic. … READ MORE >
Canada’s retail sales increased by 1.6% in October but new virus threat looms
Retail sales climbed by 1.6% to $57.6 billion in October thanks to rebounding sales of motor vehicles and parts, but the data was captured before the stunning recent surge of the omicron variant. … READ MORE >