Tag: employment
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Stock market strategist David Rosenberg gives the Fed no credit — and no mercy
[ad_1] It’s said that you don’t know an economy is in a recession until it’s in one. Or as David Rosenberg puts it: “Recessions are like an odorless gas. They sneak up on you.” These days, Rosenberg is looking for fresh air. A former chief North American economist at Merrill Lynch and now president of…
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Jobless claims drop to 237,000 and point to still-strong U.S. labor market
[ad_1] The numbers: The number of Americans who applied for unemployment benefits last week fell by 12,000 to 237,000, indicating most companies are reluctant to fire workers even in a more uncertain economic environment. New jobless claims declined from a revised 249,000 in the prior week, government data showed. The decline could be tied in…
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Labor is ‘too hot’ for Fed, Stifel’s Bannister says. These industries hold the ‘defensive’ stocks in case of a recession.
[ad_1] Stifel’s chief equity strategist Barry Bannister may turn defensive in U.S. stocks at the end of this year to brace for a potential economic downturn in early 2024, as the Federal Reserve may need to weaken the labor market that looks “too hot” to bring down stubbornly high inflation. “We do not see inflation…
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Worker pay is still going up fast — and that means higher interest rates
[ad_1] Rising pay is usually a good thing for workers and the economy, but right now higher wages might be too much of a good thing. Why? Bigger paychecks are adding to inflation and making it harder for the Federal Reserve to get prices under control. As a result, the Fed is likely to keep…
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U.S. stocks give up gains to end lower, book weekly losses after June jobs data
[ad_1] U.S. stocks finished lower Friday, giving up earlier gains, after a report from the Labor Department showed a slowdown in job creation, robust wage growth and a low unemployment rate in June. All three major equity indexes booked weekly losses. How stock indexes traded Dow Jones Industrial Average DJIA, -0.55% fell 187.38 points, or…
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Why stock-market investors find wage data in the June jobs report unsettling
[ad_1] Investors sifted through mixed signals in the U.S. June employment report Friday, with sticky wage gains seen offsetting any relief from a slowdown in jobs growth. Sure, a strong labor market reflects a resilient economy, which should be good news for the stock market, all things equal. But the worry for investors is that…
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: Pay hikes for switching jobs are shrinking — think twice before you jump ship
[ad_1] Even as employers keep up the hiring spree, pay increases for new hires don’t appear to be keeping pace, according to ADP. [ad_2] Source link
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Jobless claims in U.S. drop to four-week low of 239,000
[ad_1] The numbers: The number of Americans who applied for unemployment benefits last week fell to a one-month low of 239,000, indicating the U.S. labor market remains fairly robust. New jobless claims declined by 26,000 from a revised 265,000 in the prior week, government data showed. Unemployment claims typically rise when the economy weakens and…
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The Fed’s been wrong on inflation again. It may adjust its forecast.
[ad_1] The U.S. economy hasn’t slowed all that much. High inflation has proven to be quite sticky. And the rip-roaring labor market is still producing lots of new jobs. No matter. The Federal Reserve is poised to make no change in a key U.S. interest rate next week after raising it in 10 straight meetings…