The amount of Americans filing for unemployment claims decreased, for the first time, last week, to a three-month low, according to the Labor Department on Sept. 8. The continued growth in the U.S. labor market is relief for some analysts after U.S. gross domestic product (GDP) contracted in the first half of 2022, after initial fears…
US Weekly Jobless Claims Fall to a Three-Month Low
September 9, 2022
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Unemployment Rate Ticks up to 5.4 Percent in August as Economy Loses 40K Jobs
Canada’s unemployment rate was 5.4 percent in August, ticking up for the first time in seven months. The economy lost 40,000 jobs last month, Statistics Canada reported in its latest labour force survey, with the losses concentrated in the public sector. In July, the unemployment rate was 4.9 percent, the lowest rate since comparable data…
What Happened to the Great American Worker?
September 1, 2022
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As the recession sets in, the U.S. labor market appears to have a split personality. Industries such as oil and gas remain desperate for workers, while many college graduates may soon find themselves collecting unemployment. At the same time, the post-pandemic period has seen record numbers of able-bodied workers dropping out of the labor pool…
Unemployment Continues to Rise in Germany Amid Energy Shortages, High Inflation
August 31, 2022
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Unemployment in Germany for August rose but just below earlier predictions, according to the Federal Labor Office on Aug. 31. The German government said that the number of people out of work increased by 28,000 in August, bringing total unemployment numbers up to 2.497 million, as the Central European nation is dealing with critical energy shortages and high…
US Job Openings in July Add to Fear of Stronger Rate Hikes
August 31, 2022
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U.S. job openings rose in July, while data for June was revised sharply higher and unemployment remains low, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS report, on Aug. 30. The extremely tight labor market conditions will probably give the Federal Reserve more leeway to continue increasing interest rates in its…
Fewer Americans Claim Jobless Benefits Last Week
August 25, 2022
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NEW YORK—Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending Aug. 20 fell by 2,000 to 243,000, the Labor Department reported Thursday. The four-week average for claims, which evens out…
Exploring the US Labor Shortage and Unemployment
August 23, 2022
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Commentary Businesses across the United States report that they find it hard to find staff and that vacancies are going unfilled. Meanwhile, companies are making cuts, and unemployment is expected to rise. In 2021, more than 47 million workers quit their jobs, considerably more than the 42 million in 2019. Some of these resignations were…
Half of US Companies Looking to Slash Jobs: PwC Survey
August 22, 2022
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As signs mount of an economic slowdown in America, half of U.S. companies are planning to cut jobs, even as business leaders fret about difficulties hiring and retaining talent, according to PricewaterhouseCoopers (PwC). While PwC’s most recent Pulse Survey shows business leaders saying that acquiring and retaining talent remains a serious risk, they’re also streamlining headcount….
US Weekly Jobless Claims Edged Lower Last Week
WASHINGTON—The number of Americans filing new claims for unemployment benefits fell moderately last week, suggesting some loss momentum in the labor market against the backdrop of higher interest rates. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 250,000 for the week ended Aug. 13, the Labor Department said on Thursday. Data…
Workers ‘Quiet Quitting’ Partly Blamed for Labor Productivity Drop
August 15, 2022
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As U.S. labor productivity recorded its biggest ever drop in the second quarter, some are blaming the rising trend of “quiet quitting” for the slump. Quiet quitting simply means to stop putting in extra effort into a job, sticking to what an employee is supposed to do and nothing more. The trend is believed to…
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