Friday’s macro data drop continued to require the Federal Reserve to have its foot on the 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, spending was much better than expected in September together with an upward revision to August’s print. That means the economy can absorb more monetary tightening. … READ MORE >
employment
Staffing firms see strong demand as hiring remains steady
The demand for staffing firms is the highest it has been in almost two years. … READ MORE >
Jobless claims in July continue rising layoffs trend
Initial jobless continue to trend above the pre-pandemic average, as the U.S. economy contracted for the second consecutive quarter. However, continued jobless claims remain flat, suggesting people receiving unemployment benefits aren’t remaining unemployed for long. … READ MORE >
Reimagining the workforce for the digital age: An RSM and U.S. Chamber discussion
Businesses will need to reimagine their workplaces, rethink their benefits and reconsider their recruitment if they want to compete in the emerging digital economy, said Joseph Brusuelas, chief economist of RSM US, and Neil Bradley, chief policy officer of the U.S. Chamber of Commerce.. … READ MORE >
Although U.S. jobs report outshined Canada’s, Canadian outlook remains promising
As the initial shock of the Feb. 4 Canadian jobs report wears off, it’s clear that Canada is still firmly on the road of strong economic growth in 2022 and is still in step with the United States. … READ MORE >
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 >
Staffing firms thrive amid wage inflation and labor shortages
Resilience in combatting the labor shortage is among five trends that came to light during third-quarter earnings calls hosted by executives of workforce solutions firms. … READ MORE >
Canada’s employment is back to pre-pandemic levels
Canada added an encouraging 157,000 jobs in September, bringing its total employment to just over the February 2020 level. … READ MORE >
CHART OF THE DAY: Consumer confidence is sign of good things to come
The Conference Board’s Consumer Confidence Index increased to 127.3 from a revised up 120 in May. The topline index is traditionally interpreted as a forward-looking indicator of consumer spending and is very sensitive to employment conditions. … READ MORE >
U.S. June employment report: Look for robust hiring above 750,000
The June employment report will likely reflect a surge in hiring to prepare for what will be a monumental release of pent-up demand for services over the next three months. … READ MORE >