Economies in recession do not produce 528,000 jobs in a given month and have 3.5% unemployment rates. Since January, total employment has increased by 3.3 million jobs and the unemployment rate has declined from 4% to 3.5%. With such a robust labor market, claims that the economy is in recession fall ... READ MORE >
jobs report
U.S. employment report for June indicates no recession now
An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by the Labor Department strongly implied that the economy is not in recession, which is in line with our base case that the economy will ... READ MORE >
U.S. June jobs preview: Slower hiring in rate-sensitive industries
We expect the June U.S. employment report to show a total gain of 225,000 jobs, with risk of a stronger pace of hiring and an increase in the unemployment rate to 3.7%. Given the Federal Reserve’s campaign to increase the policy rate that has reshaped economic expectations, we expect a reduced pace of ... READ MORE >
U.S. May jobs report: Robust gains in total employment as wage increases ease
American firms continued to hire workers at a torrid pace in May to meet strong demand amid a historically tight labor market and 8.3% inflation. Amid that robust increase in total employment of 390,000 in May, the three-month average annualized pace of average hourly earnings slowed to 4.3% on the ... READ MORE >
U.S. April jobs report: Another month of solid payroll gains
Sustained strength in wages continues to attract workers back into the American labor force, which resulted in a net increase of 428,000 jobs in April—the second such increase in a row—as the unemployment rate held steady at 3.6%. Since the beginning of the year, the economy has added 2.1 million ... READ MORE >
Chart of the day: Initial jobless claims point to strong jobs report
New filings for jobless claims last week fell slightly, to 184,000, holding steady below the average pre-pandemic level for the 12th straight week. The number of new claims points to a labor market that remains tight, with layoffs at multi-decade lows. The data released by the Labor Department on ... READ MORE >
U.S. March jobs report: American labor market remains red hot
The American labor market remains red hot as the employment-to-population ratio among prime-age workers surged to 80.0% in March, up from 79.5% in February, and total employment increased by 431,000 jobs. The unemployment rate declined to 3.6%, the Bureau of Labor Statistics reported on Friday. The ... READ MORE >
U.S. February jobs report: Bittersweet symphony as employment rises by 678,000
Despite a net increase in total employment of 678,000 and a decline in the unemployment rate to 3.8% in February, the improvement in the American labor market is now in the rearview mirror as the impact of geopolitical tensions, searing economic sanctions, rising inflation and surging oil prices sets ... 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 >
U.S. January jobs report shows strong gains and significant upward revisions
The American labor market remained red hot in January and that strength will stimulate a discussion of faster interest rate hikes by the Federal Reserve at its March meeting. The net increase of 467,000 in total employment on the back of a significant upward revision to the December estimate, from ... READ MORE >