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🏢 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

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.

Private sector job growth grew by 140,000 jobs, which is less than expected 150,000 for February. What does this mean for the labor market and federal reserve policy? Let's dive in. 📊 🏨 Sector-Specific Highlights: The leisure and hospitality sector led February's job gains, welcoming 41,000 new workers, indicative of the industry's ongoing recovery and growth. Other sectors, including construction (28,000), transportation and utilities (24,000), financial activities (17,000), and other services (14,000), also reported hiring increases. 💵 Wage Growth Insights: However, there is a continued deceleration in wage growth, with annual pay rising by 5.1%—the smallest increase since August 2021. However, individuals who changed jobs experienced wage increases of 7.6%. "Job gains remain solid. Pay gains are trending lower but are still above inflation," said ADP chief economist Nela Richardson, encapsulating the labor market's current state. "In short, the labor market is dynamic but doesn’t tip the scales in terms of a Fed rate decision this year." 🔍 Anticipation is building for the Labor Department's February jobs report, which will unveil context to the Federal Reserve's monetary policy considerations. Let's see how this incoming news continues to impact deliberations. #LaborMarket #EmploymentTrends #WageGrowth #EconomicInsights #FederalReserve https://lnkd.in/e847xDQR

“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.”

𝐔.𝐒. 𝐉𝐨𝐛 𝐆𝐫𝐨𝐰𝐭𝐡 𝐒𝐮𝐫𝐠𝐞𝐬 𝐢𝐧 𝐌𝐚𝐲, 𝐃𝐞𝐟𝐲𝐢𝐧𝐠 𝐄𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 🌟 As a sign of sustained economic health, hiring among U.S. employers picked up in May. The increase in hiring defied economists’ projections and came amid persistently high interest rates and slowing consumer spending 📈 Employers added roughly 272,000 workers to payrolls in May 2024, according to a survey of businesses by the Bureau of Labor Statistics.  📈 The U.S. economy has now added jobs for 41 consecutive months, the fifth-longest period of job base expansion on record dating back to 1939. 📈 The U.S. economy has recovered all the net jobs lost during the COVID-19 pandemic.  📈 The unemployment rate increased 10 bps from April to May registering at 4%, the highest level since January 2022 and above economists’ expectations that the rate would hold steady at 3.9%. Continue reading to discover further details about the strong wage growth that occurred in most major industries over the past year.  #jobgrowth #economy https://lnkd.in/g8JSPSf2

U.S. hiring slowed significantly in July with employers adding only 114,000 jobs amidst high interest rates and persistent inflation. The unemployment rate rose to 4.3%, the highest since October 2021, according to the Labor Department. This data, coupled with slowing wage growth, supports the case for potential interest rate cuts by the Federal Reserve in September. #USjobs #economy #FederalReserve

U.S. employers added 303,000 jobs in March, far exceeding expectations and demonstrating the continued resistance of the U.S. labor market. Significant job gains were seen in healthcare, reflecting the surging demand from the aging baby boomer population, and leisure and hospitality, where job numbers have finally returned to pre-pandemic levels. Unemployment fell slightly to 3.8%. Year-over-year wage growth rose to 4.1%. 

“Demand for labour surged during the recovery from the coronavirus pandemic, pushing up wage growth, but job openings have largely trended downwards since 2022. October’s drop was driven by fewer openings in the healthcare, financial activities and retail sectors. While job opening figures can be volatile, lay-offs held steady at 1.6mn and the number of workers quitting remained unchanged at 3.6mn — another indicator of softening in the labour market.” #usjobs #useconomy #uslabormarket #usemploymemt #regionsrecruiting

February jobs report is in. U.S. employers added a robust 275,000 jobs in February as hiring stayed strong despite high interest rates, persistent inflation and uncertainty about the economic outlook in a presidential election year. But payroll gains for December and January were revised down by an outsized 167,000, portraying a much weaker picture of the recent labor market. January's booming 353,000 employment gains were downgraded significantly to 229,000, though that's still a sturdy total. And the unemployment rate rose from 3.7% to 3.9%, the highest since January 2022, the Labor Department said Friday. https://lnkd.in/gEg3uR84