The labor market is expected to continue to lose steam in September, with the total change in employment likely increasing by 115,000 jobs on the month, and the unemployment rate likely rising to 3.8%. Given the slowdown in domestic manufacturing activity and goods production, we note there is downside risk to our top line forecast when the report is ... READ MORE >
jobs
August hiring slows: Jobs report shows unflattering shape of things to come
August hiring slowed to 130,000 jobs, reflecting late-cycle business dynamics and the impact of the trade war that is now spilling over into the real economy. After adjusting for Census Bureau hiring, the top-line hiring increase was only 105,000 jobs, just above the 100,000 necessary to stabilize the unemployment rate. In short, Friday’s government report ... READ MORE >
US August employment preview: focus on goods producing and manufacturing jobs
Investor attention will be squarely focused on the pace of hiring in goods production and manufacturing in the August U.S. employment report released on Friday. The results will follow a decline in the August ISM manufacturing employment sub-index to 47.4, which implies contraction in hiring across those sectors. Amid heightened risk for industries linked ... READ MORE >
Health care jobs market remains tight, government data shows
The Job Openings and Labor Turnover survey released by the government last week underscored continued tightness in the health care labor market through June. Health care organizations added 60,000 employees, after accounting for employee departures. Total job openings across the ecosystem increased by 10,000. Since 2014, total job openings in health care ... READ MORE >
US July employment report: “A Gentleman’s C”
Downward revisions to the May and June estimate of total employment as well as a decline in total and aggregate hours worked cast a pall over a total change in July employment of 123,000 (164,000 top line less net downward revision of 41,000) and the unemployment rate that held steady at 3.7%. While job gains were solid in manufacturing, goods production, ... READ MORE >
When addressing nursing shortage, look to your own ranks first
The market for skilled workers, administrators and support staff remains tight in U.S. health care as providers struggle to fill jobs, particularly critical roles such as nurses. The numbers have not appreciably improved since the last time I wrote about this topic: Total health care job openings have remained around 1.1 million to 1.2 million since December ... READ MORE >
US employment preview: hiring deceleration amid steady unemployment rate
The U.S. economy likely generated roughly 150,000 jobs in July and the unemployment rate remained steady at 3.7%. The July employment report—due to be released by the government Friday—is traditionally impacted by seasonal adjustments that will likely include sharp slowing in education and government hiring along with a notable pick up in leisure and ... READ MORE >
Will May’s slow jobs growth spell a Fed interest rate cut? Joe Brusuelas offers insight in a WSJ podcast
The U.S. economy added only 75,000 jobs in May. Does that lend credence to the likelihood that the Federal Reserve is preparing for a rate in the near term? RSM US Chief Economist Joe Brusuelas weighs in on this podcast with the Wall Street Journal's Charlie Turner on Friday, June 7. "The weakness in goods-producing and manufacturing (jobs) has now ... READ MORE >
US employment report–April springs ahead
A dynamic U.S. labor market did not disappoint in April as the private sector created 236,000 new jobs and government added 27,000 for a net gain of 263,000 on the month. The monthly report from the Bureau of Labor Statistics saw the unemployment rate decline to 3.6 percent, the lowest level since December 1969. Upward revisions to the previous two months ... READ MORE >
ADP private sector payroll estimate: Strong gains in middle market hiring
The ADP April estimate of private sector hiring released on Wednesday pointed to strong hiring by middle market businesses amid robust service sector and goods producing sector hiring. The middle market accounted for 52.7 percent, or 145,000 out of 275,000, of the total change in private sector employment. Small firms added 77,000 jobs, or 28 percent of ... READ MORE >