Tag Archives: unemployment

By Howard Schneider WASHINGTON (Reuters) – The last time the U.S. unemployment rate fell below 3%, as one Federal Reserve official has predicted it will this year, the Korean War was nearing its end and a recession that saw legions of workers lose their jobs was just around the corner. While the circumstances were unusual, it nonetheless presented a now-familiar pattern – a falling unemployment rate eventually giving way to recession – that current Fed officials will be challenged to avoid as… Source link

U.S. employers added back far more jobs than expected in January even as Omicron cases surged at the beginning of the new year. The Labor Department released its January jobs report Friday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Non-farm payrolls: +467,000 vs. +125,000 expected and a revised +510,000 in December Unemployment rate: 4.0% vs. 3.9% expected, 3.9% in December Average hourly earnings, month-over-month: 0.7%… Source link

The U.S. economy unexpectedly saw a slowdown in hiring in December compared to November, while the unemployment rate improved to a fresh pandemic-era low. The Labor Department released its December jobs report Friday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Non-farm payrolls: +199,000 vs. +450,000 expected and a revised +249,000 in November Unemployment rate: 3.9% vs. 4.1% expected and 4.2% in November  Average hourly… Source link

Down goes the U.S. unemployment rate in 2022, contends J.P. Morgan chief U.S. economist Michael Feroli. “I think by the end of the year [2022] we could see the unemployment rate around 3%,” said Feroli on Yahoo Finance Live. “It’s stunning to see how much the rate has fallen in the last five months. We expect that pace of decline to slow, but it doesn’t take much to get below 4%. Even with a tick up in the labor participation rate which has been depressed over the last year and a half.” To… Source link

Weekly jobless claims rose after setting a more than five-decade low last week. Still, however, new claims came in near pre-pandemic levels, highlighting ongoing improvements in the labor market.  The Labor Department released its weekly jobless claims report on Thursday. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended November 27: 222,000 vs. 240,000 expected and a revised 194,000 during prior… Source link

New weekly jobless claims came in slightly higher than expected but still eked out a new pandemic-era low, with the weekly rate of those rendered newly out-of-work coming closer to pre-virus levels.  The Labor Department released its jobless claims report Thursday. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended November 13: 268,000 vs. 260,000 expected and an upwardly revised 269,000 during prior… Source link

U.S. employers increased their pace of hiring in October, with declining COVID-19 infections and demand for workers amid widespread shortages helping bolster labor market activity.  The Labor Department released its October jobs report Friday morning. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls, October: +531,000 vs. +450,000 expected, +194,000 in September Unemployment rate: 4.6% vs. 4.7% expected, 4.8% in… Source link

New weekly jobless claims likely took another step lower last week, with the labor market’s recovery still making headway despite the lingering threat of the Delta variant.  The Labor Department is set to release its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended August 7: 375,000 expected and 385,000 during prior week  Continuing claims,… Source link

Goldman Sachs sees the U.S. labor market maintaining its momentum well into 2022.  Economists at the firm led by Jan Hatzius lowered their year-end 2021 unemployment rate forecast slightly to 4.1% on Monday. For 2022, Hatzius and his team projects a 3.5% unemployment rate. If achieved, the unemployment rate would be at a 50-year low as the economy powers back from the COVID-19 pandemic.  Employment at those levels in 2022 would bring the economy to full employment, Hatzius says.  “We expect… Source link

U.S. employers added back more jobs than expected last month, with payroll gains moving in tandem with improving economic activity and consumer mobility during the recovery. The jobless rate also fell to the lowest level since March 2020, improving more than expected.  The U.S. Labor Department released its July jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: +943,000… Source link