An early estimate of nonfarm private employment showed a surprisingly strong rebound in September after a disappointing August, according to data released by ADP on Wednesday. The headline monthly change in employment—published in advance of the Bureau of Labor Statistics' more comprehensive jobs ... READ MORE >
Delta variant
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 gain in total employment of 375,000 and a decline in the unemployment rate to 5.1% when it is released on Friday. The report will most likely reflect a mix of constraints in hiring related to Hurricane Ida and the reopening of ... READ MORE >
Services PMI grew faster in September as prices and demand remained elevated
In a sign of the service sector’s continuing strength, the Services Purchasing Managers’ Index inched up by 0.2 percentage points to 61.9% in September—the 16th consecutive month of expansion, according to data released Tuesday by the Institute for Supply Management. Business activity, new orders ... READ MORE >
Canada’s trade surplus rose in August with global energy demand
Canada’s merchandise trade surplus widened to CAD $1.94 billion in August thanks to rising global demand for energy amid shortages in other countries, Statistics Canada reported on Tuesday. Canada’s merchandise imports fell by 1.4% and merchandise exports rose by 0.8%, helping widen the ... READ MORE >
Chart of the day: U.S. trade deficit reached record high in August
The U.S. trade deficit rose to a record $73.25 billion in August, up from $70.3 billion in July, as both goods and service trade balances declined, according to Commerce Department data released on Tuesday. This put the trade deficit back to June's level of $73.23 billion—the previous record—and ... READ MORE >
Global natural gas prices hit record as middle market girds for difficult winter
Global natural gas prices have climbed to record highs amid soaring demand fueled by the reopening of the economy and tight supplies. As power outages halt manufacturing and threaten climate commitments, businesses and consumers should brace themselves for a difficult winter. Middle market firms ... READ MORE >
Lessons from the American Dream mega-mall
What happens when a real estate investor does not look at changing consumer preferences when undertaking a new project? More often than not, it ends in disappointment, and lost money. One project that is heading down this path is New Jersey’s American Dream mega-mall. The unfinished property, which ... READ MORE >
Americans spent more on building homes than on building anything else for the first time in 14 years
In another sign of the housing market’s continued strength, U.S. spending on residential buildings—both private and public—increased by 0.4% in August to $795.5 billion, while nonresidential spending declined by 0.4% to $788.6 billion, on a seasonally adjusted annual rate. The data points directly ... READ MORE >
Building permits in Canada continued to fall with material shortages
The value of building permits in Canada decreased by 2.1% in August from July to a seasonally adjusted 9.66 billion Canadian dollars as developers continued to feel the effect of supply and labour shortages. August’s decline, which fell short of forecasts, continued the downward trend from the peak in ... READ MORE >
Workforce transformation: The American labor market, firms and the post-pandemic economy
Widespread labor shortages are hampering companies’ ability to capitalize on an economy that is expanding as the country recovers from a devastating pandemic. Firms will not experience a return to the way things were in the labor markets before the pandemic. The retirement of baby boomers, ... READ MORE >