In a surprising turn of events, America’s employers added 209,000 jobs in June, indicating that the economy’s strength is defying the Federal Reserve’s efforts to slow down growth and inflation, according to the AP. This positive economic momentum almost guarantees that the Fed will resume its interest rate hikes later this month. It’s worth noting …
Filadendron | E+ | Getty Images The overall unemployment rate in the United States experienced a decline in June. However, there appears to be a concerning trend among Black workers, as indicated by the latest nonfarm payrolls report. In June, the overall unemployment rate stood at 3.6%, representing a 0.1 percentage point decrease from May, …
Decrease article font size Increase article font size Canada’s unemployment rate increased to 5.4% in June despite continued hiring by employers, as reported by Statistics Canada. The agency announced that Canada added 60,000 jobs, including 110,000 full-time positions, last month, the largest employment increase since January. However, the unemployment rate rose due to an increase …
A man walks past a “now hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliery | AFP | Getty Images The U.S. labor market continues to thrive, despite efforts to cool it down through interest rate hikes. From January to May 2023, job growth has reached nearly 1.6 …
For quite some time, prominent economists have cautioned that the most effective way to control inflation would be to increase unemployment, essentially triggering a recession. Last summer, former Treasury Secretary Lawrence Summers even predicted that we would need five years of unemployment above 5 percent. Paradoxically, every strong jobs report seemed like a negative sign, …
Kyla Scanlon, a 26-year-old former options trader, has become an influential figure using TikTok, Instagram, and YouTube to make financial education entertaining for young viewers. She is the founder of Bread, a company that creates viral videos and skits. In an interview with CNBC’s “ETF Edge,” Scanlon shared her approach: “I’ll take on the role …
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 …
A series of underwhelming economic data from China in May has sparked hope for significant policy interventions. Market analysts are eagerly awaiting the next steps from China’s State Council and a Politburo meeting in July, where the Communist Party’s top officials will assess the country’s economic performance in the first half of the year. related …
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 …
In May, the unemployment rate in the United States slightly increased, but saw a decline among Hispanic workers, according to the most recent nonfarm payroll report. The unemployment rate for the previous month was 3.7%, up 0.3 percentage points from the prior month. However, Hispanic or Latina women saw their unemployment rate decrease to 3.4% …