The U.S. economy added 261,000 new jobs in October, down from the upwardly revised 315,000 in September, according to the Bureau of Labor Statistics (BLS). This topped the market estimate of 200,000. The unemployment rate ticked up to 3.7 percent last month, up from 3.5 percent in September. The labor force participation rate edged down…
US Economy Added 261,000 New Jobs in October as Hiring Stays Strong
Nearly Two Open Jobs for Every Unemployed Worker, Data Shows
The U.S. Bureau of Labor Statistics released new employment data which showed there are nearly two open jobs for every unemployed worker in the United States. The federal data showed the number of job openings rose to 10.7 million in September, up about 437,000 from the previous month after a significant decrease in August. “Based…
Stocks End Lower as Hot Jobs Data Signals Aggressive Fed
Stocks on Wall Street gave up early gains and closed lower Tuesday after an unexpectedly strong report on the job market raised concerns that the Federal Reserve will need to keep the pressure on inflation with aggressive interest rate increases. The S&P 500 fell 0.4 percent after having been up as much as 1 percent…
Texas Jobs Surge: September Breaks Record for Total Jobs Added in 11 Consecutive Months
Texas once again led the U.S. in job creation over the past 12 months, breaking the state’s all-time record for total jobs for the 11th month in a row, according to new data reported by the Texas Workforce Commission. Texas employers added 40,000 new nonfarm jobs in September, more than double the number they added…
Philips to Cut 5 Percent of Workforce as New CEO Acts to Counter Falling Sales
AMSTERDAM—Philips’ new CEO announced plans on Monday to cut around 4,000 jobs following falling sales and after a massive recall slashed around 70 percent off the Dutch medical equipment maker’s market value in the past year. “We have now had five quarters of declining sales, declining profit, and now … (in the third quarter) we…
Outer Australian Suburbs Missing Out in Federal Jobs Push
Australian workers living in the outer suburbs of cities need roads to get to work and business hubs developed closer to where they live. One in five Australians who live on the outskirts of major cities are missing out, according to an alliance of councils from across the country. With a labour force of more…
Australia’s National Jobless Rate in the Spotlight
The state of the Australian labour market will be a focal point this week as the national statistics bureau releases its monthly jobs data. Australia has been experiencing record-low unemployment as competition for workers remains fierce. In August, the jobless rate lifted slightly to 3.5 percent as more people started looking for work after many bowed…
US Economy to Start Losing 175,000 Jobs a Month Next Year: Bank of America
Bank of America on Friday warned that the Federal Reserve’s policies aimed at tackling inflation could see the U.S. economy start losing tens of thousands of jobs a month beginning early next year. While American employers slowed down hiring in September, the United States still added 263,000 jobs, down from an upwardly revised 537,000 in August, according to data from…
A Cautious Fed Sets Up ‘Stagflation’ After a ‘Just Right’ Jobs Report, No ‘Soft Landings’
October 7, 2022
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Commentary September jobs printed at 263,000 new jobs, somewhat above the consensus estimate of 250,000 jobs. That’s 52,000 fewer jobs than were created in August 2022 and 161 fewer jobs than September 2021. July revisions added another 11,000 jobs; August was unrevised. It is generally believed that 200,000–250,000 jobs are required to accommodate population growth. The unemployment rate was…
US Economy Adds 263,000 New Jobs in September as Labor Market Conditions Soften
The U.S. economy added 263,000 new jobs in September, down from an upwardly revised print of 537,000 in August, according to the Bureau of Labor Statistics (BLS). The market had forecast 250,000 new jobs last month. The unemployment rate fell to 3.5 percent, down from 3.7 percent in August. This came in line with economists’…
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