The U.S. economy continues to grow above-trend, consumer spending remains strong, and the labor market is tight; however, there are concerns about inflation and rising interest rates which could impact the economy and consumer balance sheets, leading to a gradual softening of the labor market.
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.
Despite predictions of a slowdown, the American economy continues to show strong growth, with recent data suggesting annualized growth of nearly 6% in the third quarter; however, concerns about overheating and potential inflation, as well as increasing bond yields, raise doubts about the sustainability of this growth.
The US economy shows signs of slowing towards the end of summer, with the services-sector index falling to a six-month low and the manufacturing-sector index remaining in negative territory, suggesting a near-stall in business activity and raising doubts about the strength of economic growth in Q3.
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.
Thailand's employment growth slowed in the second quarter of 2023 as economic growth decelerated, with job growth mainly in the tourism and construction sectors, according to the state planning agency.
The August 2023 Workforce Activity Report by UKG reveals that the labor market remained steady overall across most sectors, with a decrease in shift work mirroring historic seasonal trends and the market remaining strong as summer comes to an end.
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 open jobs in the US dropped to its lowest level in over two years in July, signaling a slowdown in the labor market, with economists expecting a further decrease in labor demand and a possible response from the Federal Reserve.
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.
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 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 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 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 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 dollar remains steady as US jobs data indicates a cooling economy and suggests that the Federal Reserve may be nearing the end of its tightening cycle.
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%.
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.
Wage gains for job-switchers in the US have dropped to just barely higher than those who stay in their current role, indicating that job-hopping is slowing down as the labor market slows overall.
The Bureau of Labor Statistics is expected to release a report showing steady growth in consumer prices with a year-on-year inflation increase of 3.6% in August, indicating that the Federal Reserve's efforts to control inflation are working but there may be more rate hikes if inflation does not decline.
The jobs market is currently in a relatively benign position, with unemployment rates and wage growth neither extremely high nor low, but leading indicators suggest a potential rise in unemployment and a continued deceleration of wage growth in the coming quarters.
US inflation is expected to continue its slowdown in the coming months due to easing car prices and rents, as well as a potential slowdown in the job market.
