The unemployment rate increased by 0.3 percentage points to 6.8 per cent — the highest since January 2017—as more people looked for work. … READ MORE >
jobs
Health care sees steady growth and remains a job market powerhouse
Health care added 68,000 jobs in May while pushing up the three-month average to 66,000. … READ MORE >
Soft landing likely as Canada added 40,000 jobs in August
A look at August’s job report reveals clear signs of a soft landing. Canada added 40,000 jobs, smashing expectations, and offset the modest loss in July many times over. The unemployment rate was unchanged at 5.5%. Immigration has played a vital part in keeping the economy buoyant as job growth was led by population growth. … READ MORE >
Hiring cools in March as fears of a wage price spiral ease
The U.S. March employment report indicated that total jobs increased by 236,000, illustrating that hiring remains strong, albeit at a slower pace. The Bureau of Labor Statistics Friday report points toward easing concerns of a wage price spiral that underscores the direction of monetary policy as the Fed is poised to hike its policy rate by 25 basis points at its May 3 meeting. … READ MORE >
Manufacturing posts first decline in nearly 3 years
Industry and government data on Wednesday continued to paint a mixed picture of the economy as the end of the business cycle is approaching. The manufacturing sector showed its first monthly contraction following 30 straight months of growth, highlighting the impact of restrictive monetary conditions the Federal Reserve continued to impose on the sector to fight inflation. … READ MORE >
ADP private payrolls: Large companies continue to attract workers
The ADP estimate for nonfarm private employment in October continued to show an increase in net job gains, led by a sharp rise from small service-providing companies as the delta variant’s surge crested. … 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 >
Labor market improvement is not a one-way street: jobless claims increase to 412,000
First-time jobless claims increased to 412,000 for the week ending June 12, from a revised 375,000 previously, the government said on Thursday. However, the top-line increase remains well below the 529,200 13-week moving average within the series, implying that conditions for further improvement remain intact. … READ MORE >
CHART OF THE DAY: Job openings rose in the first quarter
The number of job openings and those who quit their jobs increased in the first three months of the year, pointing to a healthy demand for labor despite the subsequent disappointing jobs report for April, according to government data released on Tuesday. … READ MORE >