US Job Market

The jobless rate for March slid slightly to 3.5 per cent from February's 3.6 per cent, the data showed

US employers added more jobs than expected in October while wages rose firmly, underscoring the resilience of the labor market despite the Federal Reserve's aggressive efforts to cool it down.

Initial jobless claims in the US last week rose to 262,000, hitting a new high since November 2021, the US Labour Department reported

Job cuts in the United States rose for a second month in a row in April as employers assessed costs and the growing risk of inflation in a labor market that has mostly seen record demand for workers over the past year, employment tracker Challenger, Gray & Christmas Inc showed on Thursday.US employers announced 24,286 cuts in April, a 14% increase from the 21,387 tracked in March and up 6% from the 22,913 cuts monitored in April 2021, the firm's latest monthly report showed. It was also the first time in a year when job cuts were higher than the corresponding month a year earlier."Job cut plans appear to be on the rise, particularly as companies assess market conditions, inflationary risks, and capital spending," Andrew Challenger, senior vice president of Challenger, Gray & Christmas, Inc, said in the company's report. "Despite this, job openings are still at record highs. Workers who are being cut will have lots of opportunities and will likely land quickly."While job ...

The four-week moving average, a method to iron out data volatility, decreased by 15,000 to 2,84,750, according to the report.

The number of Americans applying for unemployment benefits fell last week, another sign that the US job market and economy continue their steady recovery from last year's coronavirus recession.

Continuing claims for ongoing state benefits rose slightly in the week ended April 24.

All but one industry saw payroll improvements

This is a sign that many employers continue to cut jobs despite a drop in confirmed viral infections

Claims remain above their 665,000 peak during the 2007-2009 Great Recession, though they are below the record 6.867 million reported last March when the pandemic hit the United States

The number of Americans filing new applications for unemployment benefits inched down last week, consistent with a recent stalling in the labor market recovery.

The United States remains about 9 million jobs short of where it was a year ago

The US economy likely created fewest jobs in seven months in December or even shed workers as the country buckled under onslaught of Covid, marking the start of what is expected to be a bleak winter

The number of Americans filing first-time claims for jobless benefits unexpectedly rose last week as a relentless wave of new Covid-19 infections hobbled business operations

The number of initial jobless claims in the US increased to reach 853,000 last week, the highest since mid-September, the Labour Department reported

Spot gold rose 0.3 per cent to $1,812.66 an ounce at 10:15 a.m. EST, having hit its lowest since July 17 at $1,800.01 on Tuesday

Despite claims dropping to their lowest since March, they remained above their peak of 665,000 during the 2007-2009 Great Recession

The Labor Department said Thursday that initial jobless claims for the week ended Aug. 15 came in at 1.106 million

While other data on Wednesday showed activity in the vast services sector gained momentum in July as new orders raced to a record high, hiring declined

The analysis highlighted how the additional unemployment benefits are helping to prop up the U.S. economy and consumer spending after the pandemic led to a surge in joblessness across the country