US job growth was weaker than previously projected, with a downward revision of 306,000 positions in March 2023, resulting in an average monthly job gain of nearly 312,000 over the past year, according to data from the Bureau of Labor Statistics.
The US labor market shows signs of easing as job openings decline for the third consecutive month, worker quits decrease, and layoffs increase, indicating a more balanced state, according to the Bureau of Labor Statistics.
U.S. job openings reach lowest level in nearly 2.5 years in July, signaling a slowdown in the labor market and potential impact on interest rates.
The number of job vacancies in the US dropped in July, indicating a cooling labor market that could alleviate inflation, while fewer Americans quit their jobs and consumer confidence in the economy decreased, potentially impacting consumer spending; these trends may lead the Federal Reserve to delay a rate hike in September.
The US jobs data for July suggests a cooling employment market, with a drop in labor demand and easing of hiring conditions, which could help lower inflation without a significant rise in unemployment rates.
Job creation in the United States slowed more than expected in August, a sign that the resilient economy might be starting to ease under pressure from higher interest rates.
Private employers in the U.S. added fewer jobs than expected in August, indicating a slowdown in the labor market and suggesting that the rapid job growth seen in recent years is no longer sustainable.
The US economy added 177,000 jobs in August, slightly below expectations, but indicating sustainable growth in pay and employment as the effects of the pandemic diminish.
Job growth in the US slowed in August, signaling the impact of high interest rates, which has given traders hope that the Federal Reserve might pause hikes; US stocks rallied on the news, with the S&P 500 on a four-day winning streak and regaining some of August's losses.
The number of Americans applying for jobless benefits fell slightly last week as companies held on to employees in an economy that has withstood rising interest rates, with job openings remaining robust and unemployment benefits being collected by about 1.73 million people.
Job openings and layoffs decreased in July, indicating a return to pre-pandemic labor market patterns, with economists attributing the drop to a decline in turnover rather than contraction.
The August jobs report is highly anticipated as investors assess the health of the labor market amidst rising interest rates and inflation, with projections indicating an increase in hiring and a steady unemployment rate, but potential disruptions from ongoing strikes and bankruptcies could affect the data. The report is closely watched by the Federal Reserve for signs of labor market softening as they grapple with inflation, and while the labor market has remained tight, there are indications of a gradual slowdown. Job openings have decreased, along with resignations, pointing to a labor market that is cooling.
U.S. job growth likely slowed in August due to factors such as striking actors and a major trucking company bankruptcy, but the unemployment rate is expected to remain low; economists caution against overreacting and advise focusing on long-term trends.
Job creation in the American labor market is expected to slow down in August, with the addition of approximately 170,000 jobs, reflecting a mild cooling of employment growth and wage growth, as well as the impact of higher interest rates on hiring; the recent strikes in the film industry, although not a significant direct employer, are likely to have some impact on the jobs numbers, particularly those related to on-set production and support roles.
The US added more jobs than expected in August, but the unemployment rate increased, while average hourly earnings and nonfarm payrolls growth were slightly below forecasts.
The US added 187,000 jobs in August, but the unemployment rate rose to 3.8 percent, indicating a plateau in the labor market as the Federal Reserve considers another interest rate hike.
The US added more jobs than expected in August, but the unemployment rate rose, causing little change in the price of bitcoin while traditional markets reacted positively.
The week has been driven by macroeconomic data, but the threat of economic contraction is not currently imminent, with the US Ten-Year Note yielding around 4.11% overnight and the US Dollar Index trading around 103.5; the Bureau of Labor Statistics will release its employment-related surveys for August today, with economists expecting non-farm job creation of around 170,000 and wage growth at 4.4% year over year.
The number of homes for sale in the US continued to decline in August, down by 9.2% compared to the previous year and 45% below pre-pandemic levels, leading to higher home prices and affordability concerns.
The US job market added 187,000 jobs in July, returning to pre-pandemic levels and indicating a gradual cooling off of the labor market, with positive economic news and a steady unemployment rate of 3.5%.
Summary: The US markets ended mixed after the release of the latest jobs report data, with the economy adding 187,000 jobs in August but seeing an increase in unemployment, while in Asia, Japan's Nikkei 225 closed higher, Australia's S&P/ASX 200 was down, and China's Shanghai Composite and Shenzhen CSI 300 declined. Additionally, European markets saw declines, and commodities such as crude oil, natural gas, gold, silver, and copper experienced varying price movements.
U.S. manufacturers reported a decline in business activity for the 10th consecutive month in August, but the declines are becoming less widespread, suggesting that the trough in the cycle may be approaching.
The U.S. economy experienced modest growth in July and August, driven by pent-up demand for leisure activities, while nonessential retail sales slowed, according to the Federal Reserve's "Beige Book" survey.
The US job market remains resilient despite lower-than-expected job growth in July, with the unemployment rate dipping to 3.5% and more Americans entering the job market, easing pressure on employers to raise wages.
The US economy is predicted to enter a recession by spring, leading to a 25% or more crash in the S&P 500, according to economist David Rosenberg, who warns that American consumers are nearing their spending limits and rising home prices reflect a weak housing market.
The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months, indicating a resilient labor market despite higher interest rates aimed at curbing hiring.
There are indications that a severe economic contraction may be approaching in the US, with a significant decline in home sales and rising interest rates, similar to the 2008 financial crisis, according to Bloomberg analyst Mike McGlone.
U.S. retail sales rose more than expected in August due to higher gasoline prices, but underlying spending on goods slowed as Americans faced increased inflation and borrowing costs, while the trend in underlying spending on goods was not as robust as initially thought in July. Despite this, overall consumer spending is expected to remain strong, driven by spending on services.
US retailers are expected to hire the lowest number of seasonal workers since 2008 due to increased labor costs and shaky consumer confidence.
American workers are facing a decline in median annual household income due to high inflation, with 17 states experiencing a decrease while only five saw an increase, according to data from the Census Bureau. The labor market remains challenging, with wages rising but not enough to keep up with inflation.
The leading economic indicator dropped 0.4% in August, marking the 17th consecutive month of decline, but there is no indication of a recession in the U.S.
The number of job layoffs in the U.S. remains near a record low despite rising interest rates and high inflation.
The decline in job openings could have negative implications for the US stock market, as job openings and the S&P 500 have shown a strong correlation since 2001, with job openings currently down 27% from their peak in March 2022.
