Remarkable, resilient and robust. There is simply no other way to describe the sustained strength in the U.S. labor market that has resulted in an American unemployment rate below 4% for 24 consecutive months for the first time since 1967. The U.S. economy created 353,000 new jobs in January on the ... READ MORE >
unemployment
U.S. October jobs report: Moderation in hiring as wage gains outpace inflation
Hiring in the American economy moderated in October, pointing to a cooler pace of growth and inflation that is a much-needed elixir following the torrid pace of hiring and expansion of recent months. The economy added 150,000 jobs in October with the unemployment rate at 3.9%, the Bureau of Labor ... READ MORE >
Where are we going to find the workers? A look at child care and the workforce
Recent changes in public policy are beginning to affect the domestic economy. One sign is the strong increase in manufacturing construction linked to the bipartisan Infrastructure Investment and Jobs Act and the CHIPS and Science Act. But with the unemployment rate at 3.6% and the ... READ MORE >
U.S. employment report: Strong gains continue in June
A remarkable run of monthly job gains continued in June as the American economy generated 209,000 new jobs and the unemployment rate fell to 3.6%. For the year, 1.67 million new jobs have been created, an average of more than 278,000 jobs each month, according to data released by the Bureau ... READ MORE >
June jobs preview: Low unemployment shows a rapidly evolving labor market
The national unemployment rate has been 4% or lower since December 2021. Robust job gains have averaged 314,000 this year through May, and gross domestic product grew by a strong 2% in the first quarter—a reflection of the American economy’s underlying resilience. When the June employment ... READ MORE >
Economy added 339,000 jobs in blowout May employment report
The labor market and the economy it supports will just not go gently into that good night despite policy efforts to cool both. Historic inflation and interest rate shocks have not yet derailed a robust labor market that has averaged an increase of 283,000 jobs over the past three months. ... READ MORE >
Jobless claims edge up but fraud spurs big downward revisions
Initial jobless claims underwent a significant downward revision after a spike in fraudulent claims led to a distortion in the data. New filings for jobless benefits released by the Labor Department on Thursday increased slightly by 4,000 last week, but the more noteworthy change was a ... READ MORE >
Hiring in U.S. remains robust in April as the jobless rate falls to 3.4%
We have made the case over the past few months that resilience rather than recession is a more apt description of the American economy. The net change in employment in the April jobs report of 253,000 reported by the Labor Department on Friday reflects that resilience. In addition, the ... READ MORE >
Initial jobless claims drop further
New claims for unemployment benefits inched lower than expected for the second month in a row last week, continuing to signal a tight labor market despite recent bank failures. Claims fell by 1,000 to 191,000, remaining below the pre-pandemic average and below expectations of a slight ... READ MORE >
How many jobs need to be sacrificed to tame inflation? Cost is rising, RSM models show.
Events are outpacing the best-laid plans of policymakers. The current turmoil in the financial sector will place constraints on the Federal Reserve’s efforts to restore price stability. Our research indicates that the Fed, facing persistent inflation, will for now have to accept a ... READ MORE >