Vacancies and starting salaries in the UK fell in July for the first time this year, indicating a decrease in inflationary pressure in the labor market.
Weekly jobless claims in the US fell by 11,000 to reach 239,000, indicating a tight labor market despite a slowdown in job growth and raising the risk of the Federal Reserve increasing interest rates.
The majority of economists polled by Reuters predict that the U.S. Federal Reserve will not raise interest rates again, and they expect the central bank to wait until at least the end of March before cutting them, as the probability of a recession within a year falls to its lowest level since September 2022.
New hires are experiencing declining wages in various sectors such as technology and transportation, which could impact job hopping and take time to reflect in federal data, posing challenges for the Federal Reserve in managing inflation.
The US Labor Department has revised downward its estimate of total payroll employment in March 2023, revealing a slightly cooler labor market than previously thought, which may influence the Federal Reserve's decision on interest rates at their upcoming policy meeting in September.
The U.S. Bureau of Labor Statistics has revised down its tally of total employment in March 2023 by 306,000, indicating that there were about 300,000 fewer job gains during April 2022 to March 2023 than initially estimated, which could impact the Federal Reserve's decision on interest rates.
Despite attempts by the Federal Reserve to cool the economy and combat inflation, applications for unemployment benefits in the US declined last week, indicating a resilient labor market.
The number of job openings in the US fell to 8.8 million at the end of July, indicating a slowing economy, with declines seen in professional and business services, healthcare, and state and local government sectors, while the information industry and transportation saw increases in job openings. Additionally, consumer confidence dipped in August as Americans grew more concerned about rising prices of gas and groceries, and home prices continued to increase in June.
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.
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.
Federal Reserve Chair Jerome Powell's recent speech outlined three tests for incoming data to prevent further rate hikes, and the Job Openings and Labor Turnover survey revealed a decrease in job openings, leading to a rise in the S&P 500 and a decline in the 10-year Treasury yield.
Treasury yields fell to their lowest levels in over a week due to concerns about job creation and consumer confidence, leading bond traders to lower the probability of a Federal Reserve interest rate hike this year.
The rate of people quitting their jobs has returned to pre-pandemic levels, indicating a decline in workers' advantage and a cooling labor market influenced by the Federal Reserve's interest rate hikes, which have led to worsening job prospects and decreased consumer confidence.
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.
The U.S. jobs market shows signs of cooling as Labor Day approaches, giving investors relief from concerns about a potential Federal Reserve interest rate hike. However, global market rally and uncertainty around China's market rebound indicate that risks still persist.
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.
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 US dollar dropped to a two-week low against the euro and other currencies after data revealed lower than expected private payroll growth in August, leading to speculation that the Federal Reserve will halt interest rate increases.
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 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 US job market is cooling down, with signs of weakening and a slowdown in momentum, which may allow the Federal Reserve to ease inflation pressure through weaker job creation and reduced demand.
The US dollar edged lower as US markets were closed for a holiday, and investors considered US jobs data indicating signs of cooling, leading to speculation that the Federal Reserve may be at the end of its monetary tightening cycle.
Despite weakening economic growth, the unemployment rate remains low, which is puzzling economists and could lead to a "full-employment stagnation" scenario with a potential recession and low unemployment rates, posing challenges for the Federal Reserve and the overall economy.
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 number of Americans filing for jobless benefits unexpectedly dropped to the lowest level since February, indicating a relatively tight job market despite recent signs of softening.
US retailers are expected to hire the lowest number of seasonal workers since 2008 due to increased labor costs and shaky consumer confidence.
Central banks' efforts to combat inflation by raising interest rates have not led to mass job losses, as labor markets in various countries have cooperated by reducing open vacancies and trimming wage growth, suggesting a possible "soft landing" for the economy without significant casualties.
US housing starts fell to their lowest level in three years, indicating a slowdown in homebuilding activity due to mortgage rates lingering above 7%.
The Federal Reserve has paused raising interest rates and projects that the US will not experience a recession until at least 2027, citing improvement in the economy and a "very smooth landing," though there are still potential risks such as surging oil prices, an auto worker strike, and the threat of a government shutdown.
Weekly jobless claims in the US have fallen to an eight-month low, indicating a tight labor market despite a slowdown in job growth.
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.
