Job openings fell to 7.4 million, the fewest since 2021, from 7.86 million, while hirings rose to 5.56 million from 5.4 million according to the Bureau of Labor Statistics. … READ MORE >
Economics
Financial conditions improve in Canada and U.S., setting stage for growth
Financial conditions continue to improve both in Canada as well as the United States, signaling stability in markets and setting the groundwork for economic growth. … READ MORE >
A nascent dollar bloc: Re-globalization amid U.S.-Chinese tensions
We see a nascent dollar trading bloc forming out of need to protect essential industries. … READ MORE >
Business spending on equipment falls in September, but orders pick up
Durable goods orders fell in September for the second month in a row, driven largely by drops in Boeing orders. … READ MORE >
October jobs report will be distorted by hurricane and strike
We expect a top-line gain in total employment of roughly 120,000 jobs, which is approximately 80,000 below what our model would otherwise imply. … READ MORE >
Initial jobless claims fall despite hurricane’s impact
Total initial claims dropped to 227,000 from 242,000 for the week ending Oct. 18, the Labor Department reported on Thursday. … READ MORE >
Bank of Canada cuts rates by half point amid slow growth
We expect the policy rate to fall to 3.5 per cent by the end of the year and return to a terminal rate of 2.75 per cent in the first half of 2025. … READ MORE >
Housing starts and permits ease in September
September’s housing starts came in at 1.35 million, down 0.5% from August, while building permits, a proxy for future projects, fell 2.9% to 1.4 million. … READ MORE >
September retail sales top forecasts
Retail sales for all items increased by 0.4% while the control group grew by 0.7% in September. … READ MORE >
American outperformance in the global economy
The U.S. economy is outperforming in growth and employment, and in controlling inflation, without causing the economy to fall into an extended period of slow growth. It’s a remarkable policy achievement. … READ MORE >