Abdul Qadir’s Post

U.S. employers added 254,000 jobs and the unemployment rate ticked down to 4.1 percent in September, signaling signs of strength in the labor market heading into the height of the election season. The last several months of steady job growth have been plenty enough to keep the American labor market firmly out of recession territory, economists say, especially as GDP growth remains hardy, productivity is strong and consumers continue to spend. In September, the service sector industry recorded a surge in hiring, according to the report by the Bureau of Labor Statistics. But job gains across most sectors added more evidence that the Federal Reserve can stay on track with gradual lowering of interest rates to ensure inflation doesn’t rear back up. #USA #added #254000jobs #in #September2024 #marks #a #signal #of #strentgh #in #the #labor #market

🏢 June 2024 Jobs Report: What Labor Market Data Says About the Economy ✅ Employers added 206,000 jobs in June, slightly higher than expected. ✅ May and April hiring levels were revised sharply lower.  ✅ Unemployment cracked 4% for the first time since November 2021. ✅ Workers’ pay continues to rise, with average hourly earnings up 3.9% in June.  ✅ The unemployment rate ticked above 4%, hitting 4.1% in June.  ✅ Slowing job growth combined with slowing inflation reinforces hopes that the Federal Reserve could begin cutting interest rates in September. Click the link below to read the full report from NBCNews #Economy #JobsReport #LaborMarket #Unemployment #FederalReserve

FEWER JOBS 😓‼️ #employment 🤔 & #unemployment 🧐 The U.S. economy added far fewer jobs in 2023 and early 2024 than previously reported, a sign that cracks in the labor market are more severe — and began forming earlier — than initially believed. On Wednesday, the Labor Department said that monthly payroll figures overstated job growth by roughly 818,000 in the 12 months that ended in March. That suggests employers added about 174,000 jobs per month during that period, down from the previously reported pace of about 242,000 jobs — a downward revision of about 28 percent. The revisions, which are preliminary, are part of an annual process in which monthly estimates, based on surveys, are reconciled with more accurate but less timely records from state unemployment offices. The new figures, once finalized, will be incorporated into official government employment statistics early next year. The updated numbers are the latest sign of vulnerability in the job market, which until recently had appeared rock solid despite months of high interest rates and economists’ warnings of an impending recession. More recent data, which wasn’t affected by the revisions, suggest job growth slowed further in the spring and summer, and the unemployment rate, though still relatively low at 4.3 percent, has been gradually rising. (The New York Times)

The US Labor Department has reported that the US economy added 206,000 new jobs in the month of June. The unemployment rate rose slightly to 4.1%, up from 4.0%. These numbers are being cited by economists as signs the economy is "cooling" and that the Fed might soon cut interest rates by as much as 0.25%. Not mentioned in the Labor Department report is that unemployment for 20-24 year olds rose to 7.9%, significantly higher than the average unemployment rate. That number suggests employers are reluctant to hire workers without experience, perhaps a sign that job cuts could be on the horizon as the economy slows and AI offers some future work efficiency options for employers. https://lnkd.in/gGBJ3Wsz

Halfway through 2024, the June Employment Report suggests a slight cooling in job gains, but overall employment activity remains soundly stable. ✨ Here are the main takeaways: ➕ The US added 206,000 jobs in June, down from 215,000 in May. ⬆️ The unemployment rate rose to 4.1%, the first time above 4% since November 2021. 🏥 Job growth was mainly in government and health care, with 70,000 jobs added in the public sector. 📉 Wage growth slowed, with hourly earnings up 0.3% for the month and 3.9% annually, the lowest in three years. See the full report below for more details. CC: Kellen Smith - Managing Partner https://lnkd.in/e7-2PjyH

“Employers added 303,000 jobs in March on a seasonally adjusted basis, the Labor Department reported on Friday. It was the 39th straight month of job growth. The unemployment rate fell to 3.8 percent, from 3.9 percent in February. The continuing strength, labor market analysts say, may increase confidence among investors and the Federal Reserve that the U.S. economy has reached a healthy equilibrium in which a steady roll of commercial activity, growing employment and rising wages coexist. It’s a remarkable change from a year ago, when top financial analysts were largely convinced that a recession was only months away. From late 2021 to early 2023, inflation was outstripping wage gains, but that now appears to have firmly shifted, even as wage increases cool from their peak average rates in 2022. Average hourly earnings for workers rose 0.3 percent in March from the previous month and were up 4.1 percent from March 2023.”

https://lnkd.in/eBYSG_vD In the month of July employers added 114,000 jobs and this has been noted to be fewer than expected by 35%, and the employment is now at 4.3% and is the lowest it has been since the month October in 2021. This is a surprising statistic to me and I did not think unemployment would be this low for the month of July.

U.S. employers defied expectations by adding a robust 303,000 jobs in March, signaling continued strength in the labor market and surpassing economists' forecasts. The unemployment rate held steady at 3.8%, according to data released by the U.S. Department of Labor. The impressive job gains, coupled with steady economic growth, are likely to influence the Federal Reserve's decision-making regarding interest rates and monetary policy in the coming months.

For the past 50 years, the US unemployment rate has mostly been far above 4%, even rocketing to almost 15% during the pandemic. Yet in the turbulent period that followed lockdowns and other economic disruptions from the pandemic, it has stayed below the 4% level for more than two years. That remarkable streak could end on Friday at 8:30 a.m. ET, when the Bureau of Labor Statistics releases its March jobs report. More on that and what else to expect from tomorrow's jobs report featuring insights from American Enterprise Institute's Michael Strain and W.E. Upjohn Institute for Employment Research's Aaron Sojourner https://lnkd.in/eyrXXwg5