Continuing claims—a measure of longer-term disruption in the labor market—increased for the seventh straight week to 1.83 million, near the recent high in April. … READ MORE >
Economics
Credit sentiment improves in Q3, signaling the worst might be over
No surprise came from the third-quarter Senior Loan Officer Opinion Survey on Monday as most major indicators pointed to improvement in lending sentiment. The improvement was likely a direct result of the Federal Reserve’s rate pause in September as the central bank began to rebalance its policy to a less hawkish stance. … READ MORE >
Canada’s unemployment rate rises to 5.7% as hiring slows
The Canadian economy added 18,000 jobs in October, down from a gain of 63,800 in September, as the unemployment rate rose by 0.2% to 5.7%. … READ MORE >
U.S. October jobs report: Moderation in hiring as wage gains outpace inflation
The economy added 150,000 jobs in October with the unemployment rate at 3.9%, the Bureau of Labor Statistics reported on Friday. … READ MORE >
Canada continues to bet on immigration to boost growth
For the Canadian economy, the benefits of immigration far outweigh the costs. By not slashing targets, Canada ensures that the labour supply will continue to grow. … READ MORE >
Initial jobless claims edge up as labor market remains strong
New claims for jobless benefits rose to 217,000 last week, yet they remained below the pre-pandemic level. … READ MORE >
FOMC decision: Extended pause as Fed waits for economy and inflation to ease further
The Federal Reserve maintained its policy rate in a range between 5.25% to 5.5% at its November policy meeting on Wednesday. Given the recent backup in Treasury yields, with the 10-year increasing by 124 basis points from 3.74% on July 19 to 4.98% on Oct. 19, the Fed intends to … … READ MORE >
Job openings top estimates amid sharp drop in manufacturing
Job openings edged up in September as labor demand remained strong while the manufacturing sector declined at a faster rate than expected. … READ MORE >
Fed’s key wage inflation metric tops forecast
The employment cost index for the third quarter showed that labor costs rose 1.1% higher than the forecast of 1.0% and were higher than the pre-pandemic average of 0.6%. … READ MORE >
RSM US Manufacturing Outlook Index: Financing costs and UAW strike take toll
Rising yields as well as the UAW strike contributed to a pullback in manufacturing in the United States into October, with the RSM US Manufacturing Outlook Index slipping to 1.3 standard deviations below normal. … READ MORE >