US payrolls growth in the year through March is forecasted to be weaker by an estimated 500,000 jobs, according to a preliminary benchmark revision, however, average job growth is expected to remain strong at around 300,000 payrolls per month and economists do not anticipate a significant shift in labor market conditions.
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.
Employment growth in the US likely cooled and wage increases moderated in August, reducing the urgency for another interest-rate hike by the Federal Reserve and tempering inflation risks.
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 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.
U.S. job growth is slowing down but remains steady, with the unemployment rate settling at 3.5% in July and predictions that the August jobs report will show similar results, although concerns remain regarding potential slowdowns and negative growth.
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.
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 shows signs of cooling as unemployment unexpectedly increases to 3.8%, but Federal Reserve officials are unlikely to change their policy stance.
The August employment report showed an increase in unemployment and a jump in the number of workers unemployed for more than 27 weeks, indicating a normalization of the labor market; however, the report also highlighted the potential for further job gains in September as new labor force entrants search for employment.
The August jobs report indicates that the labor market is cooling despite a larger-than-expected gain in payrolls.
Canada added 40,000 jobs in August, surpassing economists' expectations, while the unemployment rate remained steady at 5.5%. This positive job growth suggests that the economy is not completely stalled, but the Bank of Canada is not expected to raise interest rates in the near future.
