Tag Archives: labor market
Payroll employment is expected to rise a slightly tepid 175,000 in August after averaging more than 240,000 for the previous twelve months. Private employment is expected to increase by 170,000. We expect the unemployment rate to hold at 5.3%. The slowdown in employment growth is mostly cosmetic and reflective of the statistical agencies’ inability to [...]
The Federal Open Market Committee (FOMC) minutes show that the Federal Reserve continued to edge toward liftoff, but members were not there yet last month. The divide between those on the FOMC who would like to raise rates in September and those who would prefer to wait is widening.
The economy added 215,000 jobs in the month of July while the unemployment rate held steady at 5.3%. The report, in line with expectations, shows overall a solid performance of the labor market, easing some early concerns that job creation may have suffered a summer lull.
The Employment Cost Index (ECI), which is widely considered the “best” measure of overall wage gains by the Federal Reserve, disappointed in the second quarter. Fees and commissions, which buoyed first quarter gains, slowed fairly dramatically along with outlays for benefits
Payroll employment jumped 223,000 in June, a little less than expectations but still well above the level needed to absorb anemic labor market growth. Moreover, business services continued to show strong gains in full-time as opposed to just temporary hires, which reflects an improving market for new college graduates. Health care also saw strong gains, [...]
We are expecting payroll employment to rise by a respectable 250,000 jobs in June, 245,000 in the private sector and the unemployment rate to hold steady at 5.5%. The real issue will be the composition of those jobs.
The Consumer Price Index (CPI) rose 0.4% in May, driven by a sharp increase in prices at the pump. The overall index, however, remained unchanged from a year ago
Retail sales jumped 1.2% in May from April as hibernating consumers emerged from their caves. Vehicle sales fueled overall gains but were not as strong as we expected, given the near-record, 17.8 million-unit, annualized pace we saw for the month. Incentives were sweetened to drain dealer inventories. Some of the gains we saw also likely [...]
Payroll employment jumped by 280,000 in May, while employment was revised up, on net, for March and April. Gains were driven by large increases in professional business services, which include new graduates. Those gains were large in highly trained technology jobs, technology consultants and engineers. There were also increases in temporary hires, which can be [...]
We are expecting nonfarm payrolls to rise by 205,000 in May, a little less than consensus. The private sector is expected to account for 200,000 of those gains, with state and local governments adding 5,000 jobs, mostly in education. The quality of new jobs for the month, however, is expected to improve as the demand [...]