Most laid off tech workers are finding jobs shortly after beginning their search, a new survey shows, as employers continue to scoop up workers in a tight labor market. About 79% of workers recently hired after a tech-company layoff or termination landed their new job within three months of starting their search, according to a … Read more
The November U.S. jobs report on Friday showed the U.S. economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and … Read more
Fed officials have warned in recent days that they are likely to lift rates to and hold them at levels high enough to slow economic activity and hiring to bring inflation down from 40-year highs. The employment report showed continued strong hiring and brisk wage growth, which is a source of concern to Fed officials … Read more
The numbers: The number of people who applied for unemployment benefits fell by 12,000 in mid-October to a three-week low of 214,000, as more people who couldn’t work after Hurricane Ian returned to their jobs. Economists polled by the Wall Street Journal had forecast new claims to total 230,000 in the seven days ended Oct. … Read more
The unemployment rate fell to 3.5% from 3.7% in August, the Labor Department said Friday, matching a half-century low that was last reached in July, a reflection of people leaving the job market. Wages rose 5.0% in September from the same month a year earlier, a slower pace than August’s 5.2% annual rate. Stock futures … Read more
U.S. employers pulled back sharply on job openings, while layoffs rose in August, adding to signs the labor market and overall economy are cooling. Employers’ total job openings fell 10% in August to a seasonally adjusted 10.1 million from 11.2 million the month before, the Labor Department said Tuesday. The 1.1-million drop in openings is … Read more
Not exactly TGIF this Friday. What the sellside is slowly realizing is not just that the Fed is going to be aggressive in September after the latest shocking inflation figure, but that the central bank will have to keep rates higher, and for longer. The British pound GBPUSD, -0.39%, in some respects a proxy for … Read more
Labor shortages and inflation are lifting wages across the economy, particularly for workers changing employers. Those who recently left for a new employer netted an annual raise of about 8.5% as of July, up from 7.9% in June and the biggest median pay increase for job hoppers in more than 20 years, according to the Federal Reserve … Read more
The tight U.S. labor market loosened some in August as employers hired fewer workers, more people sought work and wages rose at a slower pace. Employers added 315,000 jobs last month, down from the prior month’s revised 526,000 jobs, the Labor Department said on Friday, with new jobs spread across the economy. The deceleration marked … Read more
SINGAPORE—China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore up faltering growth. A raft of data released Monday showed economic activity slowed across the board in July, including factory output, investment, consumer spending, youth … Read more