The economy added 315,000 jobs in the month, just below the Dow Jones estimate of 318,000. The unemployment rate rose to 3.7%, two-tenths of a percentage point higher than expected, largely due to a rising labor force participation rate. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for financial reasons rose to 7% from 6.7%.

The summer return to the market was a rebound in the textbook market, history shows Wages continued to rise, albeit slightly less than expected. Average hourly earnings rose 0.3% for the month and 5.2% from a year ago, both 0.1 percentage point below estimates. Professional and business services led the payroll gains with 68,000, followed by health care with 48,000 and retail with 44,000. Leisure and hospitality, a leading sector in the pandemic-era job recovery, rose by just 31,000 in the month after averaging 90,000 in the previous seven months of 2022. Manufacturing increased by 22,000, financial activities increased by 17,000 and wholesale trade increased by 15,000. The employment numbers pose a dilemma for a Federal Reserve trying to get inflation under control. “This is a unique period of time where we still have a relatively tight labor market, where there’s still job growth, but companies have started to announce hiring freezes, some companies have announced layoffs,” said Liz Ann Sonders, chief investment strategist. at Charles Schwab. “This could very well be a recession if you don’t see the kind of carnage in the labor market that you see in most recessions.” Those payroll and wage gains came amid rising inflation and concerns about a slowing economy that posted negative GDP numbers in the first two quarters of the year, generally seen as a telltale sign of a recession. Inflation is nearing its fastest pace in more than 40 years as a combination of supply-demand imbalances, massive stimulus from the Fed and Congress, and the war in Ukraine has sent the cost of living skyrocketing. The Fed is battling inflation with a series of rate hikes totaling 2.25 percentage points that are expected to continue into next year. In recent days, top central bank officials have warned that they have no intention of backing down from their policy tightening measures and expect that even when they stop hiking, interest rates will remain high “for some time.” A key channel the Fed looks to for the impact of policy is the labor market. In addition to strong hiring, jobs outnumber available workers by a nearly 2-to-1 margin, depressing wages and creating a feedback loop that raises prices not only for gas and groceries but also for housing costs and a variety of other expenses. This is breaking news. Check back here for updates.

title: “August 2022 Jobs Report Klmat” ShowToc: true date: “2022-12-02” author: “Hazel Brown”

The economy added 315,000 jobs in the month, just below the Dow Jones estimate of 318,000. The unemployment rate rose to 3.7%, two-tenths of a percentage point higher than expected, largely due to a rising labor force participation rate. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for financial reasons rose to 7% from 6.7%.

The summer return to the market was a rebound in the textbook market, history shows Wages continued to rise, albeit slightly less than expected. Average hourly earnings rose 0.3% for the month and 5.2% from a year ago, both 0.1 percentage point below estimates. Professional and business services led the payroll gains with 68,000, followed by health care with 48,000 and retail with 44,000. Leisure and hospitality, a leading sector in the pandemic-era job recovery, rose by just 31,000 in the month after averaging 90,000 in the previous seven months of 2022. Manufacturing increased by 22,000, financial activities increased by 17,000 and wholesale trade increased by 15,000. The employment numbers pose a dilemma for a Federal Reserve trying to get inflation under control. “This is a unique period of time where we still have a relatively tight labor market, where there’s still job growth, but companies have started to announce hiring freezes, some companies have announced layoffs,” said Liz Ann Sonders, chief investment strategist. at Charles Schwab. “This could very well be a recession if you don’t see the kind of carnage in the labor market that you see in most recessions.” Those payroll and wage gains came amid rising inflation and concerns about a slowing economy that posted negative GDP numbers in the first two quarters of the year, generally seen as a telltale sign of a recession. Inflation is nearing its fastest pace in more than 40 years as a combination of supply-demand imbalances, massive stimulus from the Fed and Congress, and the war in Ukraine has sent the cost of living skyrocketing. The Fed is battling inflation with a series of rate hikes totaling 2.25 percentage points that are expected to continue into next year. In recent days, top central bank officials have warned that they have no intention of backing down from their policy tightening measures and expect that even when they stop hiking, interest rates will remain high “for some time.” A key channel the Fed looks to for the impact of policy is the labor market. In addition to strong hiring, jobs outnumber available workers by a nearly 2-to-1 margin, depressing wages and creating a feedback loop that raises prices not only for gas and groceries but also for housing costs and a variety of other expenses. This is breaking news. Check back here for updates.

title: “August 2022 Jobs Report Klmat” ShowToc: true date: “2022-10-21” author: “Nina Pope”

The economy added 315,000 jobs in the month, just below the Dow Jones estimate of 318,000. The unemployment rate rose to 3.7%, two-tenths of a percentage point higher than expected, largely due to a rising labor force participation rate. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for financial reasons rose to 7% from 6.7%.

The summer return to the market was a rebound in the textbook market, history shows Wages continued to rise, albeit slightly less than expected. Average hourly earnings rose 0.3% for the month and 5.2% from a year ago, both 0.1 percentage point below estimates. Professional and business services led the payroll gains with 68,000, followed by health care with 48,000 and retail with 44,000. Leisure and hospitality, a leading sector in the pandemic-era job recovery, rose by just 31,000 in the month after averaging 90,000 in the previous seven months of 2022. Manufacturing increased by 22,000, financial activities increased by 17,000 and wholesale trade increased by 15,000. The employment numbers pose a dilemma for a Federal Reserve trying to get inflation under control. “This is a unique period of time where we still have a relatively tight labor market, where there’s still job growth, but companies have started to announce hiring freezes, some companies have announced layoffs,” said Liz Ann Sonders, chief investment strategist. at Charles Schwab. “This could very well be a recession if you don’t see the kind of carnage in the labor market that you see in most recessions.” Those payroll and wage gains came amid rising inflation and concerns about a slowing economy that posted negative GDP numbers in the first two quarters of the year, generally seen as a telltale sign of a recession. Inflation is nearing its fastest pace in more than 40 years as a combination of supply-demand imbalances, massive stimulus from the Fed and Congress, and the war in Ukraine has sent the cost of living skyrocketing. The Fed is battling inflation with a series of rate hikes totaling 2.25 percentage points that are expected to continue into next year. In recent days, top central bank officials have warned that they have no intention of backing down from their policy tightening measures and expect that even when they stop hiking, interest rates will remain high “for some time.” A key channel the Fed looks to for the impact of policy is the labor market. In addition to strong hiring, jobs outnumber available workers by a nearly 2-to-1 margin, depressing wages and creating a feedback loop that raises prices not only for gas and groceries but also for housing costs and a variety of other expenses. This is breaking news. Check back here for updates.

title: “August 2022 Jobs Report Klmat” ShowToc: true date: “2022-10-30” author: “Maurice Scruggs”

The economy added 315,000 jobs in the month, just below the Dow Jones estimate of 318,000. The unemployment rate rose to 3.7%, two-tenths of a percentage point higher than expected, largely due to a rising labor force participation rate. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for financial reasons rose to 7% from 6.7%.

The summer return to the market was a rebound in the textbook market, history shows Wages continued to rise, albeit slightly less than expected. Average hourly earnings rose 0.3% for the month and 5.2% from a year ago, both 0.1 percentage point below estimates. Professional and business services led the payroll gains with 68,000, followed by health care with 48,000 and retail with 44,000. Leisure and hospitality, a leading sector in the pandemic-era job recovery, rose by just 31,000 in the month after averaging 90,000 in the previous seven months of 2022. Manufacturing increased by 22,000, financial activities increased by 17,000 and wholesale trade increased by 15,000. The employment numbers pose a dilemma for a Federal Reserve trying to get inflation under control. “This is a unique period of time where we still have a relatively tight labor market, where there’s still job growth, but companies have started to announce hiring freezes, some companies have announced layoffs,” said Liz Ann Sonders, chief investment strategist. at Charles Schwab. “This could very well be a recession if you don’t see the kind of carnage in the labor market that you see in most recessions.” Those payroll and wage gains came amid rising inflation and concerns about a slowing economy that posted negative GDP numbers in the first two quarters of the year, generally seen as a telltale sign of a recession. Inflation is nearing its fastest pace in more than 40 years as a combination of supply-demand imbalances, massive stimulus from the Fed and Congress, and the war in Ukraine has sent the cost of living skyrocketing. The Fed is battling inflation with a series of rate hikes totaling 2.25 percentage points that are expected to continue into next year. In recent days, top central bank officials have warned that they have no intention of backing down from their policy tightening measures and expect that even when they stop hiking, interest rates will remain high “for some time.” A key channel the Fed looks to for the impact of policy is the labor market. In addition to strong hiring, jobs outnumber available workers by a nearly 2-to-1 margin, depressing wages and creating a feedback loop that raises prices not only for gas and groceries but also for housing costs and a variety of other expenses. This is breaking news. Check back here for updates.