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%, according to data released on Friday by Statistics Canada. Immigration has played a ... READ MORE >
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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 ... 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 that ... 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. Still, large companies with more than 1,000 employees continued to account for the biggest ... READ MORE >
CHART OF THE DAY: Consumer confidence is sign of good things to come
The June reading of the Conference Board’s Consumer Confidence Index is a sign of good things to come with respect to hiring and spending in months ahead. The index increased to 127.3 in June from a revised up 120 in May. The topline index is traditionally interpreted as a forward-looking indicator of ... READ MORE >
U.S. June employment report: Look for robust hiring above 750,000
We expect a total change in employment of 750,000 and a decline in the unemployment rate to 5.6% in the U.S. June employment report. The major economic narrative to emerge from the summer hiring reports will likely be that consumers are flush with cash and pivoting to demand services, which will bolster ... 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 ... READ MORE >
CHART OF THE DAY: Job openings rose in the first quarter
The number of job openings and those who quit increased in the first three months of the year, pointing to a healthy demand for labor despite the subsequent disappointing employment report for April, according to government data released on Tuesday. There were more than 8.1 million U.S. job openings in ... READ MORE >
Clean energy infrastructure is key part of Biden’s jobs plan
Clean energy and climate change are central figures in the Biden administration’s $2 trillion American Jobs Plan infrastructure bill, released on March 31. As such, companies in the energy industry and related sectors need to pay close attention to what the bill could potentially mean for them. If ... READ MORE >
Labor market update: Signs of normalization as long-term challenges persist
The U.S. labor market is showing signs of optimism that might best be described as hedging its bets—confident that the vaccination program will eventually allow for the reemergence of the normal workplace, but recognizing that it may not take just a snap of the fingers to get there. The surge in job ... READ MORE >