US Job Market

Official economic data collection and publication has been suspended because of the government shutdown, now in its second week

The Conference Board's report showed the share of consumers saying jobs were plentiful declined to the lowest level since February 2021

Notices of impending layoffs - filed by businesses as required by the Worker Adjustment and Retraining Notification Act - jumped by 61 per cent in May, to the highest level since October 2020

The workforce reduction equates to approximately 2 per cent of our US firm, the spokesperson said

The survey, conducted on 1,000 American employees, notes that 1 in every 10 employee is actively planning to quit this year only

A spike in imports accounts for a large share of the setback, reflecting a scramble by companies to secure goods from overseas ahead of tariffs from the Trump administration

Franco Pereyra, co-founder, COO of Near sparked an online debate by claiming that the less pay for third-world countries employees is justifiable. However, people denied and countered the narrative

Based on the November estimate, job growth would be trending around 145,000 over the past three months, which economists said was consistent

The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled. Openings rose 5% to 7.7 million from 7.4 million in September, the Labour Department said Tuesday. The increase suggests that job gains could pick up in the coming months. Still, the latest figure is down significantly from 8.7 million job postings a year ago. Last month, job openings rose sharply in professional and business services, a category that includes engineers, managers, and accountants, as well as in the restaurant and hotel and information technology industries. The number of people quitting their jobs rose in October, a sign of confidence in the job market. And layoffs tumbled to just 1.6 million below the lowest figures in the two decades that preceded the 2020 pandemic. Taken as a whole, Tuesday's figures suggest that the job market might be stabilising at a modest level, with hiring

Ramaswamy didn't single out any contractors, and isn't clear yet how the efficiency drive will be structured

Entrepreneur-turned politician Vivek Ramaswamy, who along with Tesla owner Elon Musk has been nominated in-charge of the Department of Government Efficiency, has indicated a massive cut in federal government jobs in the United States. "Elon Musk and I are in a position to start the mass deportations of millions of unelected federal bureaucrats out of the DC bureaucracy. That, too, is how we're going to save this country," Ramaswamy, an Indian American, said at an event in Mar-a-Lago in Florida on Thursday. "I don't know if you've got to know Elon yet, but he doesn't bring a chisel. He brings a chainsaw. We are going to be taking it to that bureaucracy. It's going to be a lot of fun, he said. We've been taught to believe over the last four years that we have become a nation in decline, that we're at the end of the ancient Roman Empire. All we have is to fight over the scraps of some shrinking pie. I don't think we have to stay as that nation in decline. I think with what happened las

The labour market, however, is likely to experience some brief turbulence after Hurricane Helene devastation

Government data last week showed nonfarm payrolls increasing by less than expected in August but the unemployment rate falling to 4.2 per cent from 4.3 per cent in July

Job openings, a measure of labor demand, had fallen by 237,000 to 7.673 million on the last day of July, the lowest level since January 2021

The findings back up the central bank's argument that broadening inflationary pressures warrant raising interest rates

U.S. job growth slowed more than expected in July as unemployment increased to 4.3 per cent, pointing to possible weakness in the labor market and greater vulnerability to recession

The employment report also showed increase in annual wages last month was smallest in more than three years, effectively sealing the case for the U.S. central bank to cut interest rates in September

Job openings have been steadily declining since hitting a record 12.182 mn in March 2022 as demand moderates in response to the Federal Reserve's aggressive interest rate hikes

A loosening labour market and ebbing inflation position the Federal Reserve to cut interest rates in September, with financial markets anticipating additional cuts in November and December

Economists said this could allow the Fed to let the economy to run a little stronger before cutting rates