Friday’s jobs report showed the labor market rebounding more sharply than expected. Payrolls rose by 162,000 in August, well above the consensus forecast of about 55,000 to 65,000. Unemployment held at 4.1%. The Bureau of Labor Statistics reported that private payrolls rose by 127,000. Additionally, Government employment rose by 35,000, driven largely by a 42,000 […] The post Trump Blows Past Jobs Forecast With 162,000 Hires as Factories Keep Adding appeared first on StoneZone .
Friday’s jobs report showed the labor market rebounding more sharply than expected. Payrolls rose by 162,000 in August, well above the consensus forecast of about 55,000 to 65,000. Unemployment held at 4.1%. The Bureau of Labor Statistics reported that private payrolls rose by 127,000. Additionally, Government employment rose by 35,000, driven largely by a 42,000 rebound in local government education after a drop the month before. Food services and drinking places added 59,000 jobs. Manufacturing added 16,000. Construction added 22,000. The information sector lost 23,000 jobs. White House spokesman Kush Desai called the report evidence that “America is in the middle of a historic investment boom” and that reindustrialization is…Open
The job market entered the summer with less momentum than looked to be the case just a month ago. Why it matters: Call it a yellow card for the labor market. Thursday morning's employment report doesn't undo three months of stronger hiring, but it does warn that the rebound is less durable than first thought. - Hiring has remained concentrated in a handful of industries, leaving fewer opportunities for Americans looking to switch jobs or reenter the workforce. What they're saying: "June's jobs report put a damper on the fireworks, coming in well below expectations and pointing to a labor market that's more fizzle than sparkle," Glassdoor chief economist Daniel Zhao wrote Thursday morning. Driving the news: Payrolls rose by 57,000 in June…
New private sector data shows signs of life for a labor market that's stabilizing after a dismal year for hiring. Why it matters: It's a welcome development in an economy digesting global trade uncertainty, fast-moving AI technological advancements and a new geopolitical shock. - Yet just two sectors are carrying the entire labor market, making hiring more fragile than the headline numbers suggest. What they're saying: "In our data, job market growth is gaining traction. In employment terms, February's numbers show real forward momentum," David Tinsley, a senior economist at the Bank of America Institute, told reporters Wednesday morning. - In a separate call, ADP chief economist Nela Richardson said private sector job gains had been…
U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands of jobs.
WASHINGTON (AP) — U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands. The unemployment rate fell to 4.3%, the Labor Department said Wednesday. The report included major revisions that reduced the number of jobs created last year to just 181,000, weakest since the [...]