Australian Business Insights’ Post

The job market is heating up again. The US economy added 254k jobs in September, well above expectations of 147K with unemployment falling to 4.1%, August payrolls were also revised up +17k to +159k, along with July being revised up +55k to +144k. Market expectations of deeper rate cuts are certainly being challenged as the bond market is now forecasting a 25 percent reduction rather than 50 at the next meeting #jobs #economy #fed #interestrates

The BCEC Monthly Labour Market Update for November is out, with the good news on jobs dampening interest rate cut hopes. Read now 👉 https://bit.ly/MLMUNov24 This month: - Unemployment rate back below 4 per cent on the back of a solid rise in full-time jobs. - Participation falls marginally to 67.0 per cent, down from a record high 67.1 per cent. - Signs of increased industrial action may point to growing wage pressures. Read the full MLMU November 2024 here https://bit.ly/MLMUNov24 Author: Mike Dockery Special thanks: Alex Buckland and Valentina Sanchez

The latest U.S. jobs report revealed that the labor market continues to soften, with only 142,000 nonfarm payrolls added in August—falling short of the expected 160,000. Although the unemployment rate dipped slightly to 4.2%, concerns remain high due to downward revisions in previous months' data, indicating a weaker job market than initially reported. This was the weakest August for job growth since 2017. With financial markets reacting cautiously, it’s clear the economic outlook remains uncertain. As we approach the end of the year, the labor market will be a key factor to watch. https://ow.ly/fvmX50Tj40u

From Linkedin News: In a sign of a still resilient labor market, the U.S. economy added 272,000 jobs in May, far more than expected, the Bureau of Labor Statistics reported Friday. However, the unemployment rate ticked up to 4.0%, its highest level in two years. Job growth had been undershooting the monthly average seen in the first quarter, with a revised 165,000 new nonfarm payrolls in April. A tighter labor market and its contribution to inflationary pressures may undermine the case for interest-rate cuts anytime soon. https://lnkd.in/gyQ3gjrz

Job growth surged in September as unemployment rate edged down: https://ow.ly/Pfxg50TE93i

Another hot reading from the US labour market 🥵 🔁I feel like a broken record but yet again the US labour market has outstripped expectations. Non-Farm Payrolls came in at 303K today, far above the 212K in another sign the jobs market is keeping resilient despite higher rates.👊 The unemployment rate also came in lower than expectation at 3.8%, falling from last month’s 3.9% while hourly earnings do not surprise at 4.1%, lower than last month’s 4.3%. 📉Markets have scaled back their expectations for a rate cut in June to 53%, having been 60% before the release of the data. This is not a report which brings the Fed closer to the confidence policymakers seek. ❌ Hot.

US employment increased solidly in June, but government hiring accounted for more than a third of the payrolls gain and the unemployment rate hit a two-and-a-half-year high of 4.1 per cent, pointing to a slackening labour market that keeps the Federal Reserve on course to start cutting interest rates this year. The Labour Department’s closely watched employment report yesterday also showed the economy created 111,000 fewer jobs in April and May than previously estimated, suggesting the trend in payrolls growth was slowing. Annual wages increased at the slowest pace in three years as the labour pool expanded, adding to the flashing warning signals in the jobs market. About 277,000 people entered the labour force last month, accounting for the increase in the jobless rate from 4pc in May to the highest level since November 2021. Read more: https://lnkd.in/dj3DE_Gq

US employment increased solidly in June, but government hiring accounted for more than a third of the payrolls gain and the unemployment rate hit a two-and-a-half-year high of 4.1 per cent, pointing to a slackening labour market that keeps the Federal Reserve on course to start cutting interest rates this year. The Labour Department’s closely watched employment report yesterday also showed the economy created 111,000 fewer jobs in April and May than previously estimated, suggesting the trend in payrolls growth was slowing. Annual wages increased at the slowest pace in three years as the labour pool expanded, adding to the flashing warning signals in the jobs market. About 277,000 people entered the labour force last month, accounting for the increase in the jobless rate from 4pc in May to the highest level since November 2021. Read more: https://lnkd.in/dnnTC6wY

”What is happening with US government jobs data? The September jobs report shows the economy created 785,000 new government jobs, the second-largest monthly increase on record. Government jobs also accounted for a whopping 85% increase in total payrolls in the household survey. In effect, the number of government workers hit a new all-time high of 22.2 million. This helped push the unemployment rate down to from 4.2% to 4.1% Without government jobs, the unemployment rate would have been as high as 4.5%. Something really does not add up here” https://lnkd.in/gBxXTezR

Job growth continued in August, the unemployment rate ticked down slightly, and wage growth accelerated. The news on jobs was mixed. Nonfarm payrolls increased 142,000 in August, but revisions to June/July brought the net gain down to a modest 56,000. Click the link below to read more about the latest employment report and what it means for the economy as a whole. https://lnkd.in/e9MHTdi7