The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, raising hopes that the Federal Reserve can cut interest rates in the coming months. Nonfarm payrolls rose 175,000 month-over-month, below the Dow Jones Consensus estimate of 240,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate rose…
The American labor market could shift into lower gear this spring, a turnaround that economists have been anticipating for months following a strong recovery from the pandemic shock. As the Labor Department reported on Friday, employers added 175,000 jobs in April, falling short of forecasts. The unemployment rate rose to 3.9 percent. A slower expansion,…
The red-hot job market cooled somewhat in March, government data showed on Wednesday. According to the Labor Department, employers had 8.5 million unfilled jobs as of the last day of March, the fewest since the start of 2021. They also filled the fewest positions in nearly four years, suggesting that employers’ seemingly insatiable demand for…
The Federal Reserve spent much of 2022 and 2023 focusing narrowly on inflation while policymakers set interest rates: prices rose far too quickly, making them the central bank’s top priority. But now that inflation has cooled, officials are again more clearly incorporating the labor market into their decisions. A possible challenge? It is very difficult…
Job creation in March far exceeded expectations, signaling continued acceleration in what has been a busy and resilient labor market. Nonfarm payrolls rose by 303,000 this month, well above the Dow Jones estimate of a 200,000 increase and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau of Labor Statistics reported…
A person works on a Bowlus recreational vehicle at the Bowlus factory in Oxnard, California, on February 23, 2024. Timothy Aeppel | Reuters March’s nonfarm payroll count is likely to suggest that hiring is continuing at a solid pace, although some weakening labor market fundamentals may come into greater focus when the Labor Department releases…
As Speaker Mike Johnson opened the floor to questions at a closed-door fundraiser in New Jersey last month, Jacquie Colgan asked how he planned to handle aid to Ukraine in the face of fierce opposition within his own ranks. What followed was an impassioned monologue from Mr Johnson in which he explained why he believes…
Job creation exceeded expectations in February, but the unemployment rate rose and job growth in the previous two months was nowhere near as strong as initially reported. The Labor Department reported Friday that nonfarm payrolls rose by 275,000 for the month, while the unemployment rate rose to 3.9%. Economists surveyed by Dow Jones had expected…
The pandemic triggered an economic crisis unlike anything seen before in a recession. So perhaps it shouldn’t be surprising that the aftermath has also unfolded in ways that almost no economist expected. As unemployment soared in the early weeks of the pandemic, many feared a repeat of the long, slow recovery that followed the Great…
