June jobs printed at 372,000 new jobs, well above the consensus estimate of 268,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last June’s 5.9 percent. The labor force participation rate was 62.2 percent, up from the 61.6 percent that printed in June 2021, but down 10 basis points (bps, defined as 1/100th…
Entrepreneurship Should Be the Goal, Not White-Collar Jobs
Commentary Black entrepreneurship in the United States has a remarkable history. Even during the inhospitable climate of Southern slavery, both enslaved and free blacks managed to establish lucrative ventures. Research on black entrepreneurship has revealed that in the Antebellum South black entrepreneurs’ pursuits spanned the entire gamut of industry, ranging from merchandising to transportation. Indeed, the success of…
Despite Recession Fears, US Added 372,000 Jobs in June, Topping Estimates
The U.S. economy added 372,000 jobs in June, above the market estimate of 250,000. Although job growth exceeded expectations, it was the lowest since April 2021. Economists predict job growth will slow in the coming months as recession fears grow. Nonfarm payroll employment grew 372,000 in the month, compared to 390,000 gains in May, according to…
Novartis to Cut Up to 8,000 Jobs Globally
ZURICH—Novartis said on Tuesday a previously announced restructuring program could lead to 8,000 jobs being cut, or about 7.4 percent of its global workforce, including up to 1,400 in Switzerland. The job cuts, previously projected by Chief Executive Vas Narasimhan to be in the “single digit thousands,” are part of a restructuring program the Swiss…
Many Americans Taking on Extra Work to Handle Surging Inflation, Study Finds
In today’s inflationary environment, many Americans are struggling to make ends meet, so they are taking on extra work to keep up with the growing cost of living, a new survey finds. According to a study by Insuranks.com, 93 percent of working Americans have a side hustle, clocking in 13 more hours per week. More…
Killing Jobs in the Name of Saving the Planet
During the State of the Union address to Congress this year, President Joe Biden delivered an astoundingly Orwellian endorsement of socialism, clothed as its anti-matter counterpart. “I’m a capitalist, but capitalism without competition isn’t capitalism,” the president declared. “It’s exploitation, and it drives up prices. When corporations don’t have to compete, their profits go up,…
A ‘Goldilocks’ May Jobs Report, But …
Commentary May jobs printed at 390,000 new jobs above the consensus estimate of 325,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last May’s 5.8 percent. The labor force participation rate was 62.3 percent, up from the 61.1 percent that printed in May 2021. The Labor Participation Rate was 62.3 percent, up 10 basis…
ADP Reports Underwhelming Job Figures
ADP on Thursday released its monthly nonfarm payroll report, which indicated a month of underwhelming job creation in May that fell short of expectations but continued a pattern of diminishing returns in the labor market for the past several months. In its most recent monthly employment report, ADP relayed a net gain of 128,000 nonfarm…
US Added 428,000 Jobs in April; FDA Limits Use of J&J’s COVID Vaccine | NTD Business
The latest jobs report: American employers hired nearly 430,000 more workers last month. What industries are doing the hiring? The FDA is limiting the use of Johnson and Johnson’s COVID-19 vaccine. What’s the reason for its latest setback? A massive fight breaks out in Shanghai between locals and authorities. Fiji seizes the yacht of a…
April Jobs Headline Is Good, But Deeper Dive Disconcerting
May 6, 2022
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April jobs printed at 428,000 new jobs, above the consensus estimate of 380,000. The unemployment rate was 3.6 percent. The Labor Participation Rate was just 62.2 percent, down 20 basis points (bps, or 1/100th of a percentage point) from last month. February and March jobs were revised downward by 39,000 net jobs. The U6, which…
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