The U.S. labor market could be showing signs of slowing down after the economy added 315,000 new jobs in August, down from 528,000 in July. According to the Bureau of Labor Statistics (BLS), the unemployment rate edged higher to 3.7 percent, up from 3.5 percent. Economists had forecast a gain of 300,000 new jobs and…
US Economy Adds 315,000 New Jobs, Unemployment Rate Rises as Labor Market Tightens
US Adds 315,000 New Jobs, Unemployment Rate Rises Amid Slowing Economy
The U.S. labor market could be showing signs of slowing down after the economy added 315,000 new jobs in August, down from the revised 526,000 in July. According to the Bureau of Labor Statistics (BLS), the unemployment rate edged higher to 3.7 percent, up from 3.5 percent. Economists had forecast a gain of 300,000 new…
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…
The Why of Quiet Quitting
August 26, 2022
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Commentary In one of my first real jobs, I was standing with some employees on the sales floor of a men’s suit shop and the boss walked by. “Please straighten up these ties, fellas,” he said. My friend waited for the man to move out of earshot and said: “No way am I doing that…
Canada’s Red-Hot Job Market Masks Plight of Small Business
News Analysis Canada’s unemployment rate of 4.9 percent in July is a historic low, with over a million job vacancies, but underlying the headline statistics, small business has been struggling in the pandemic recovery as job growth migrates to government and larger firms. Public sector employment is up 10.8 percent in the three years from…
Canada Considered Jobs, Inflation in Decision to Return Russian Turbine: Document
Global Affairs Canada considered the impact on Canadian jobs and global inflation when making a decision to return a turbine being repaired in Montreal to a Russian energy giant, a newly released document shows. The “memorandum for action” prepared by Global Affairs recommended Foreign Affairs Minister Mélanie Joly grant a permit exempting Siemens Canada from…
The Story Behind the Government’s July Jobs Report
President Joe Biden celebrated the better-than-expected July jobs report on Friday, calling it “the result of my economic plan to build the economy from the bottom up and middle out.” Although the White House had initially anticipated a lower figure, the Biden administration and other Democrats in Washington celebrated the numbers. The headline…
US Economy Added 528K Jobs in July; Key Sen. Sinema Agrees to $430B Spending Bill | NTD Business
A stronger-than-expected jobs report for July has been released. Businesses continue to hire, but what about recession fears? Senate Democrats secure a much-needed vote to pass a huge tax and spending bill. What’s the potential impact to investors if it’s passed? Facebook parent company Meta releases its first bond offering. Is it a good investment? Credit…
US Economy Adds 528,000 Jobs in July, Surpassing Estimates
The U.S. economy added 528,000 new jobs in July, topping the market estimate of 250,000, according to the Bureau of Labor Statistics (BLS). The unemployment rate dipped to 3.5 percent, down from 3.6 percent in June. The labor force participation rate slipped to 62.1 percent Average hourly earnings rose 0.5 percent month-over-month and 5.2 percent…
Layoffs, Hiring Freezes Becoming More Common in US Labor Market
Despite a better-than-expected June jobs report, the red-hot labor market could still be showing signs of cooling down as many large and small companies trim their payrolls. A growing number of major businesses have announced intentions to lay off employees or install a hiring freeze amid broader economic concerns and recent trends. Last month, Tesla…
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