Job creation numbers slightly beat forecasts in September, but the U.S. labor market showed signs of tightening. Demand for workers remains strong, despite another increase in interest rates and weakening financial conditions, according to ADP’s National Employment report for September, released on Oct. 5. ADP, the payroll services firm, jointly compiles the jobs report with…
Job Creation Numbers Beat Forecasts, Fresh Sign of Tight Labor Market
Fed’s Jefferson Says Job Market Still ‘Very Tight,’ Inflation Fight to Last ‘Some Time’ Even If Economy Tanks
Federal Reserve governor Philip Jefferson said in his first public remarks since taking office in May that current “very tight” labor market dynamics are adding to inflationary pressures while warning the Fed’s fight against inflation is likely to take “some time,” and the central bank is determined to tame runaway prices even at the cost…
Over 1 Million Job Openings Evaporate as Labor Market Tightens, Economy Cools
New government data reveal that the number of job openings in the United States fell by more than 1 million between July and August, a far sharper drop than forecasters expected and a sign of cracks in the labor market. The Bureau of Labor Statistics (BLS) said in a report on Oct. 4 that the number…
Tight Job Market Sees IRS Facing Uphill Battle to Hire 87,000 Staff
September 19, 2022
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The Internal Revenue Service’s plan to massively expand its staff has become more difficult with the tight U.S. labor market. The Democrats’ “Inflation Reduction Act” gave the IRS $80 billion over ten years to boost its personnel in order to collect more in unpaid taxes and upgrade its computer systems. The bill also sought to invest…
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…
Paradigm Shift in the US Labor Market
August 30, 2022
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Commentary The working paradigm in America seems to be shifting as unemployment and staff shortages exist alongside workers refusing to work and others obtaining their dream job through the gig economy. Some media have claimed that the reasons behind the shortage of workers are systemic racism, lack of childcare, and a mismatch between workers’ skills…
New Survey Says Remote Work Is Here to Stay, but Doubts Remain About Productivity
The Federal Reserve Bank of New York released the results of a new labor survey on Thursday, attesting that many of the remote work opportunities that opened up during the pandemic have remained and are expected to remain into the future, even as skeptics question whether remote employees are as productive as in-person professional workers….
Did Lockdowns Turn Americans Into Lazy Bums?
Commentary It looks as if we can add another line to the long list of lockdown harms. Sloth. This explains so much actually. For months, we’ve been watching working/population ratios and labor participation rates and have been stunned by how they both continue to plummet. We search for explanations. Early retirement. Women driven out due…
Fed Will Have to Crush Job Market to Bring Inflation Down to Around 2 Percent: Goldman Economist
A prominent economist for Goldman Sachs has argued in a new interview that the Federal Reserve will have to rein in the lively job market in order to curtail inflation, responding to Friday’s release of payroll reports showing the lowest level of unemployment in over five decades, even as the economy appears to enter an…
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…
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