This is the eighth release of the Inflation Expectations Table. It covers the period from December 2005 through September 2008, based on the average of the survey responses from RBC Capital Markets’ chief economist, who advises the Federal Reserve.
On Friday, the Bureau of Labor Statistics released the latest jobs report. The report showed that the economy added 163,000 jobs in March, the lowest number of jobs added since 2011. The unemployment rate remained unchanged at 4.1 percent.
The US Bureau of Labor Statistics releases its jobs report every month, which has a lot of news for both Americans and employers. The labor market is far from perfect, but it’s still the best barometer of the US economy.. Read more about us unemployment rate today and let us know what you think.
The interest rate on 10-year Treasury paper has now fallen slightly to 1.6%.
To some extent, friction is normal when trying to revive an economy as large as the United States. This is not the same as turning on the lights.
The official unemployment rate fell to 5.8% in May. Adjusting for misclassifications and people leaving the labor force (which the Fed has been talking about lately), the unemployment rate is 8.7%, down slightly from April.
There’s a big conundrum in the job market: Nearly seven million unemployed people say they want to find work, and there are about eight million job openings. Why such a difference?
Mike Bell of JPMorgan Asset Management believes the jobs report is a gold mine for a labor market recovery scenario that is not too cold to raise concerns about the economy, but also not too hot to raise concerns about faster-than-expected monetary tightening. It’s good for the stock.
Hourly wages in the leisure and hospitality sector are now above the pre-crisis trend. I wouldn’t put too much stock in one month’s worth of data, but if it continues like this, it’s remarkable.
This slowdown in job growth will allow the Fed, as well as other central banks, to further stimulate the economy. I am thinking of the European Central Bank meeting on Thursday. There is also a debate on the reduction of appropriations.
The number of workers who reported being temporarily unemployed fell below two million for the first time since the pandemic began. The number of permanent layoffs is also declining, but at a slower pace.
An increase of 559,000 jobs is unlikely to change the Fed’s patient attitude, which expected much more job growth before it began to cut or raise interest rates. This report is not much.
The markets are not reacting much to the May jobs report. Stock futures rose slightly, the dollar fell 0.3% and the yield on the 10-year Treasury Note was unchanged at 1.625%.
Remote working continues to decline as offices reopen; 16.6% of employees worked remotely in May, down from 35.4% before that. And 30% of professionals worked remotely, which is lower than the maximum of 57.4%.
Not surprisingly, much of the job growth in May came from the leisure and hospitality sector, which added 292,000 jobs during the month. As restrictions continue to be lifted and Americans – vaccinated and eager to get back outside – return to restaurants and bars.
The quarterly average for new jobs is 541,000. That would be fine in a normal recovery, but it’s a far cry from the explosive growth many (including me!) expected. At this rate, it will take 14 months to close the gap.
Employment growth accelerated in May, but remained weaker than in March. The big picture: Compared to before the pandemic, we still have less than 7.6 million jobs.
The Fed had hoped for a million dollar employment figure. You’ll have to settle for something skinny.
All in all, it appears that the economy is picking up, but not as booming and summery as I expected before the April jobs report.
The employment rate has even fallen. This is consistent with the version that people are holding back and not returning to the labour market en masse despite the economic recovery.
Growth in core jobs was very close to consensus, employment rates changed little and the number of people working part-time for economic reasons remained stable. Whatever you think of yesterday’s job fair, this report is unlikely to change that.
The unemployment rate has fallen for a reason: Employment has increased and unemployment has fallen. However, the labour force remains virtually unchanged (or even declines slightly), further fuelling fears of labour market shortages.
Revised job growth in April was only 278,000. That’s not a bad thing – I was expecting a much larger upward correction.
U.S. employers added 559,000 jobs in May. The unemployment rate fell to 5.8%.The new jobs report added to the malaise and volatility that has been plaguing the economy, with 2.9 million new jobs during March, but the government revised down its forecast for job growth in 2017 to 2.8 million from 3.2 million. The unemployment rate fell to 4.7 percent, the lowest in 17 years, but a survey of households by the National Association of Manufacturers showed that businesses expect to add only 50,000 net new jobs in the second quarter.. Read more about what is unemployment and let us know what you think.
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