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- The U.S. economy has been remarkably resilient over the last year despite the highest interest rates in more than two decades. But the sharp downshift in hiring last month is sparking fears that's about to change. Employers added just over half as many jobs last month as they had, on average, in the twelve previous months.
www.npr.org/2024/08/02/nx-s1-5060216/jobs-labor-employers-hiring-economy-recession
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- What Does The New Jobs Report Mean?
- Is The Jobs Market Still Strong?
- Why Are Stocks Down?
- What Industry Is Hiring Right Now?
- Is A Recession Coming in 2023?
- Is There Still A Worker Shortage in 2022?
- What Is The Job Market Outlook?
The Fed is scrutinizing the monthly changes in employment to gauge whether inflation is cooling enough for officials to pull back the most aggressive rate hikes since the early 1980s. Those increases have slammed the stock market and raised fears of a recession. In a sign that worker shortages could persist, the share of adults working or job-hunti...
The dip in September suggests that finding workers could remain a challenge and push pay increases higher. That likely would further fuel inflation that’s just below a 40-year high. Last month,average hourly wages rose 10 cents to $32.46, modestly lowering the annual increase from 5.2% in August to 5%, which is still a strong gain. The renewed drop...
Stocks dropped following the release of the report. The Dow Jones Industrial Average finished the day down 2.1%. The S&P 500 fell 2.8% and Nasdaq dropped by 3.8%. Yields on US Treasury notes jumped higher with the 2-year note touching nearly 4.3% and the 10-year at 3.9%. Markets are worried the Fed could see Friday's report as proof the economy has...
Leisure and hospitality, which includes restaurants and bars, the sector hit hardest by the pandemic, led the job gains with 83,000, though it remains 1.1 million short of its pre-COVID level. Health care added 60,000 and professional and business services, 46,000. Manufacturing added 22,000 jobs as U.S. consumers continued to snap up goods even as...
Many economists now believe the Fed rate hikes will tip the nation into a recession next year and the uncertainty is starting to take a toll on hiring. Payroll gains slowed from more than 500,000 in July to about 300,000 in August. During that period, job openings – a gauge of future hiring -- fell sharply from a near-record 11.2 million to a still...
At the same time, worker shortages are still plaguing most industries and many firms have resolved not to lay off employees even as the outlook darkens. “Companies still don’t want to lose the talent – especially talent with tech skills – that they’ve worked so hard to win,” says Nicola Hancock, managing director of the Americas region for AMS, a t...
Many economists expect the job market to lose steam more rapidly now that the nation has recovered all 22 million jobs lost in the health crisis and high inflation and interest rates are starting to dampen consumer and business spending. Monthly gains will likely fall to about 100,000 by the end of the year, according to Moody’s Analytics. “Employm...
Aug 2, 2024 · The U.S. unemployment rate rose to 4.3% in July and hiring slowed, adding to signs of a broader downturn in what has been a solid U.S. economy. The Bureau of Labor Statistics reported Friday that...
- Breaking Business News Reporter
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Aug 3, 2024 · WASHINGTON (AP) — A surprising rise in the U.S. unemployment rate last month has rattled financial markets and set off new worries about the threat of a recession — but it could also prove to be...
3 days ago · Trade pulled down growth for a third straight quarter as imports outpaced exports. Imports surged 11.2% as Americans kept buying overseas products. Exports rose a healthy 8.9% but the bigger trade ...
Jan 5, 2024 · Yet the recession never arrived, and none appears to be on the horizon. The nation’s labor market is still producing enough jobs to keep the unemployment rate near historic lows. For all of 2023, employers added 2.7 million jobs, a healthy gain but down from 4.8 million jobs added in 2022.
May 6, 2022 · The Fed hopes to cool the sizzling job market gradually, without triggering a big jump in unemployment. But investors worry the Fed's action will tip the economy into recession.
