Business

This tag is associated with 1611 posts

COVID-19 in US Viewed from the FED – Unemployment may soar to 30%

Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product. Bullard called for a powerful fiscal response to replace the $2.5 trillion in lost income that quarter to … Continue reading

COVID-19 in US – Over 37 million U.S. jobs may be vulnerable to potential layoffs in the short term

Almost 56% of US production and non-supervisory jobs (about 59.5 million jobs) offer weekly incomes below the $802 weighted average weekly income for all such jobs. Together, those low-quality jobs offer a weighted average of $539 in weekly income, or just over $28,000 per year. There is a subset of these workers, in jobs often … Continue reading

Job Report in US, February 2020 – Total nonfarm payroll employment rose by a 273,000, well above consensus expectations

Total nonfarm payroll employment rose by 273,000 in February, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities. Household Survey Data Both … Continue reading

Job Report in US, April 2019 – Employment rebounds with a 263,000 increase and at 3.6 percent, the lowest rate since December 1969

Total nonfarm payroll employment increased by 263,000 in April, and the unemployment rate declined to 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, construction, health care, and social assistance. Household Survey Data The unemployment rate declined by 0.2 percentage point to 3.6 percent in … Continue reading

Jobs in US : a Chart – Employment is now 8.6% above the previous peak

This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions.  Since exceeding the pre-recession peak in May 2014, employment is now 8.6% above the previous peak. Note: I ended the lines for most previous recessions when employment reached a new peak, although I continued … Continue reading

Bank of Canada – Toward a dual mandate

The Bank of Canada will review its monetary policies and is open to making major changes, including a move away from its long-standing practice of targeting inflation, a senior official said on Tuesday. A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie The deadline for … Continue reading

Job Openings in US – Exceed the number of job seekers by more than 650,000 in July

The number of available jobs in the U.S. exceed the number of job seekers by more than 650,000 in July—a gap that has been growing—in a sign of an increasingly tight labor market that is altering how employers find workers. Chosen excerpts by Job Market Monitor. Read the whole story at Job Openings Exceed Unemployed Americans Again … Continue reading

Wages in US – Why pay has lagged behind

With the nationwide unemployment rate at 4.1 percent, the lowest since 2000, economists have been surprised by the slow growth in workers’ paychecks. Historically, when that few people are unemployed, companies have had to pay more to attract workers — simple supply and demand. But maybe competition for workers isn’t quite as intense as the … Continue reading

Job Report in US, January 2018 – Employment increased by 200,000, unemployment rate was unchanged and hourly earnings up by 2.9 percent

Total nonfarm payroll employment increased by 200,000 in January, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in construction, food services and drinking places, health care, and manufacturing. Household Survey Data In January, the unemployment rate was 4.1 percent for the … Continue reading

Job Vacancies in Canada, QIII 2017 –  468,000, up 15.1% (62,000) in one year

Canadian businesses reported 468,000 job vacancies in the third quarter, up 62,000 (+15.1%) from the third quarter of 2016. The overall job vacancy rate increased 0.3 percentage points to 2.9% in the quarter. The job vacancy rate represents the number of job vacancies expressed as a percentage of labour demand; that is, the sum of all occupied and vacant jobs. Vacancies for permanent … Continue reading

Job Report in Europe, November 2017 – Unemployment at 8.7% with 3.698 million young persons unemployed

The euro area (EA19) seasonally-adjusted unemployment rate was 8.7% in November 2017, down from 8.8% in October 2017 and from 9.8% in November 2016. This is the lowest rate recorded in the euro area since January 2009. The EU28 unemployment rate was 7.3% in November 2017, down from 7.4% in October 2017 and from 8.3% … Continue reading

Job Report in US – Employment increased by 228,000 with unemployment 4.1 percent

Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care. Household Survey Data The unemployment rate held at 4.1 percent in November, and the number … Continue reading

Job Report in Canada, October 2017 – Employment increased by 35,000 and unemployment rate rose 0.1 percentage points to 6.3%

Employment increased by 35,000 in October, and the unemployment rate rose 0.1 percentage points to 6.3%. Employment gains in the month were driven by full-time work (+89,000), while fewer people worked part time (-53,000). On a year-over-year basis, total employment rose by 308,000 (+1.7%), with full-time work increasing by 397,000 (+2.7%) and the number of people working part time declining by 89,000 (-2.5%). On a year-over-year … Continue reading

Job Report in US, October 2017 – Total nonfarm payroll employment rose by 261,000 and unemployment down to 4.1 percent

Total nonfarm payroll employment rose by 261,000 in October, and the unemployment rate edged down to 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment in food services and drinking places increased sharply, mostly offsetting a decline in September that largely reflected the impact of Hurricanes Irma and Harvey. In October, job gains also occurred in professional … Continue reading

Canada – Total employment rose by 186,000 (+1.0%) in the first six months of 2017

Economic activity continued to strengthen in the first half of 2017 as household spending, exports and business investment supported growth. Business outlays on non-residential structures, machinery and equipment, and intellectual property assets rose during the first two quarters of the year, following notable declines during 2015 and 2016. Real gross domestic product (GDP) increased for … Continue reading

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