Manufacturing payrolls lost 4,000 jobs in February, according to Bureau of Labor Statistics data released Friday, the first net reduction the sector has experienced since April 2021 during the depths of the pandemic-induced recession. The negative figure wasn’t unexpected after nearly six months of ... READ MORE >
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U.S. job creation remains robust, implying more aggressive rate hikes
If one wanted to create a confluence of cross-currents that make the job of policymakers more difficult, one might choose the combination of a red-hot economy, robust job gains, elevated inflation and an estimated $620 billion in potentially unrealized losses inside the banking ... READ MORE >
New jobless claims fall again amid strong labor market
Initial claims for unemployment benefits inched down further last week, remaining near a multi-decade low amid a persistently tight job market. New claims dropped by 2,000 to 190,000 for the week ending Feb. 24, lower than the pre-pandemic average of 218,000, according to Labor Department ... READ MORE >
Blowout January jobs report likely exaggerates hiring
Seasonal noise always presents problems when estimating the January jobs picture at the Bureau of Labor Statistics, and the first employment estimate of the year serves as a useful reminder not to overinterpret one report. The blowout 517,000-job increase in total employment for January, ... READ MORE >
Manufacturing labor market tightens further as pace of hiring slows
The United States added 8,000 manufacturing jobs in December, making for a total of 379,000 new manufacturing jobs added in 2022, according to the Bureau of Labor Statistics. This marks a 3% rise in new manufacturing jobs compared to 2021, but the hiring pace in the last few months has slowed. The U.S. ... READ MORE >
What’s behind the slowdown in construction hiring?
Changes in construction employment are often viewed as an indicator of economic activity. Before a recession, the construction industry typically sheds workers, as developers slow their projects amid a slowing economy. From this perspective, the October jobs report would seem to represent a peak, as ... READ MORE >
October data: Manufacturing jobs show little sign of slowing, but openings still elevated
After three months of softening manufacturing payroll data, hiring continued and experienced an uptick in October, according to Bureau of Labor Statistics data released Friday. There were 32,000 net new manufacturing jobs added last month, an increase from the 23,000 added in September. Another ... READ MORE >
U.S. October jobs report: Strong growth as labor market remains tight
Even after a sharp increase in the Federal Reserve’s policy rate over the past 10 months, an inversion of the yield curve and a significant dislocation in equity and fixed-income markets, there is scant evidence of any slack in the American jobs market. The jobs report for October did not alter that ... READ MORE >
Positive manufacturing jobs data masks broader issue of tech investment
U.S. manufacturers’ hiring pace remained in positive territory in September with a net increase of 22,000 in manufacturing payrolls from August, according to data released Friday by the Bureau of Labor Statistics. The sector’s pace of hiring has slowed since its recent peak in April of this year at ... READ MORE >
U.S. jobs report: Hiring slows as another 75-basis-point rate increase looms
The U.S. economy is proving far more resilient in the face of sustained pricing pressures than otherwise thought a short time ago. The economy added 263,000 jobs in September, slower than the 315,000 jobs in August but still a sign of a resilient labor market, according to Labor Department data ... READ MORE >