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Stocks mostly fall after July jobs data
... States in the past month. The Labor Department released a report on Friday showing the growth of jobs in the United States in the past month. The unemployment rate has dropped to 3.5 percent, down from 3.6 percent the previous month. In July, non-farm payrolls rose by 528,000 jobs, the biggest gain since February. The June data was revised higher to show 398,000 jobs created instead of the 372,000 previously reported. Sarah House , a senior economist at Wells Fargo in Charlotte, North Carolina, told ...
Updated: 08/05/2022
Stocks, bitcoin react to BLS' July payroll report
The U.S. Bureau of Labor Statistics BLS released its non-farm payroll showing employment had increased by 528,000 in July. Wall Street expected a 258,000 increase, more than twice that amount. The U.S. Bureau of Labor Statistics BLS released its non-farm payroll showing employment had increased by 528,000 in July....
Updated: 08/05/2022
Biden says more people are working than ever, job growth shows
... growth, which unexpectedly accelerated in July, and said more people are working than ever in American history, and used jobs numbers to prove that he has kept his campaign promise to rebuild the middle class. The Labor Department said in its monthly payroll report released Friday that 528,000 jobs were added in July, surpassing the 250,000 jobs forecast by Refinitiv economists. The unemployment rate fell to 3.5%, the lowest level since the COVID-19 epidemic began more than two years ago. The unemployment ...
Updated: 08/05/2022
Jobs jump more than expected in July
... increase in hiring, especially since some labor market indicators pointed to a slowdown. High-profile cuts from the tech sector have also been seen as a proverbial canary in the coal mine for the broader economy. The unexpected acceleration in non-farm payroll growth in July, along with the further decline in the unemployment rate and the renewed pick-up in wage pressure, make a mockery of claims that the economy is on the brink of recession, Michael Pearce , senior U.S. economist at Capital Economics,...
Updated: 08/05/2022
US Employers’ payrolls jump more than expected
... In July, US employers added more jobs than forecast, illustrating rock-solid labor demand that tempers recession fears and suggests that the Federal Reserve Federal Reserve will press on with steep interest-rate hikes to thwart inflation. Non-farm payrolls jumped 528,000 last month, a leap that beat all estimates and was the largest in five months, Labor Department data showed Friday. Employment in the previous month was revised up to 398,000. The unemployment rate fell to 3.5%, matching a five-decade ...
Updated: 08/05/2022
Canada’s employment fall for second straight month
... important for the mix. The Canadian dollar fell by 0.6% to C $1.2939 per U.S. dollar at 8: 45 a.m. in Toronto trading. Yields on Canadian government two-year bonds went up 8 basis points to 3.24%. The U.S. released employment data on Friday showing non-farm payrolls increased 528,000 last month, beating all estimates and the largest increase in five months. The labor market's labor market is tighter, even with the fall in employment, according to the data. Labor force participation fell for a second month,...
Updated: 08/05/2022
Here's why the stock market is already weak
... ManufacturingPurchasing Managers Index, or PMI , is the name of the Institute for Supply Management manufacturing index. A monthly survey of purchasing managers at hundreds of U.S. manufacturing firms shows the results of the ISM . Economic calendar: Non-farm payrolls and unemployment data due Friday, along with a consumer-credit update and more. This key indicator of economic health is currently at 52.8 - down from as high as 63.7 in early 2021 and at its lowest level since the early days of the COVID-19 ...
Updated: 08/05/2022
Job growth cools off in July as inflation, rate hikes weigh on labor market
... July, suggesting that headwinds from the highest inflation in four decades and rising interest rates are starting to weigh on the labor market. The Labor Department released its closely watched report on Friday morning, which is projected to show that payrolls increased by 250,000 last month and the unemployment rate was steady at 3.6%, according to a median estimate by Refinitiv economists. It would be the worst month for job creation since December 2020, when the economy lost 115,000 positions. Wall ...
Updated: 08/05/2022
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