Construction workers on a job site on May 05, 2023 in Miami, Florida. Joe Raedle | Getty Images Observing the monthly jobs reports this year has been a exercise in patience, as economists and market participants wait for a downturn that never seems to materialize. This pattern is likely to continue on Friday when the …
The latest report from the Labor Department shows that the US economy is still creating new jobs at an impressive rate, despite several challenges. In May, nonfarm payrolls increased by 339,000, beating the Dow Jones estimate of 190,000 and marking the 29th consecutive month of positive job growth. The jobless rate rose to 3.7%, although …
The Department of Labor reported that initial filings for unemployment benefits rose by 28,000 to a seasonally adjusted 261,000 for the week ending on June 3, which could indicate a softening labor market despite a year of interest rate hikes. The four-week moving average of claims increased by 7,500 to 237,250, the highest recorded since …