The service sector grew more slowly in July as it continued to show resilience despite recession concerns. The Institute for Supply Management's index for services inched down to 52.7 in July from 53.9 in June, indicating expansion for the seventh straight month. Underneath the top-line number, the ... READ MORE >
employment
U.S. second-half economic outlook: Muddling through
The resilient American economy refuses to go gentle into that good night. The evidence is growing stronger: A rapid decline in inflation amid robust hiring and an unemployment rate that stands at 3.6% despite a steep rise in interest rates. That reality, reflected by what looks to be ... READ MORE >
Canada jobs report tops forecasts, showing resilience amid recession fears
Canada’s March jobs report came out hotter than expected, adding more pressure on the Bank of Canada’s fight against inflation. While we don't see another rate hike in 2023 for now, there were not a lot of reasons from Thursday's Statistics Canada report that suggest we will see rate cuts either. The ... READ MORE >
Jobless claims rise, but remain below pre-pandemic level
New jobless claims increased for the first time in six weeks, yet they remained under the pre-pandemic level despite a significant recent increase in layoff announcements. New filings for unemployment benefits increased by 7.1% to 196,000 for the week ending Feb. 4, the Labor Department ... READ MORE >
What do the latest job numbers say about the health care sector?
According to the latest nonfarm payroll jobs report published by the Bureau of Labor Statistics, health care added 44,700 jobs, which exceeded our estimate of 40,000. The overall economy added 263,000 jobs last month, a slight increase over October’s 261,000. These results also exceeded the consensus ... READ MORE >
Inflation persists as spending rebounds strongly in September
Government data released Friday indicates that the Federal Reserve will need to keep its foot on the gas pedal: while inflation data came out slightly better than expected, the key wage inflation metric—the employment cost index—remained elevated, according to the Labor Department. On top of that, ... READ MORE >
Staffing firms see strong demand as hiring remains steady
Three recent studies indicate that hiring remains a priority for companies throughout the economy, an auspicious sign for staffing firms facing economic headwinds. Staffing firms continue to hire—for now Staffing jobs for the week ending Sep. 25 increased 6.6% compared to the same period last year, ... READ MORE >
Jobless claims in July continue rising layoffs trend
New filings for jobless benefits continued to beat market estimates to the upside, falling 1.9% to 256,000 for the week ending July 23. Given that the labor market is the main force keeping the economy from descending toward an economic trough, the initial jobless claims data released Thursday add ... READ MORE >
Reimagining the workforce for the digital age: An RSM and U.S. Chamber discussion
Click to watch the webcast As the pandemic has convulsed America’s real economy, middle market businesses have had to contend with profound changes to their workforces, said Joseph Brusuelas, chief economist of RSM US, and Neil Bradley, chief policy officer of the U.S. Chamber of Commerce. The ... READ MORE >
Although U.S. jobs report outshined Canada’s, Canadian outlook remains promising
Recent jobs reports have left some Canadians feeling out in the cold, especially when comparing numbers to our neighbors in the United States. However, as the initial shock of the Feb. 4 Canadian jobs report wears off, it’s clear that Canada is still firmly on the road to strong economic growth in 2022 ... READ MORE >