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
Average hourly earnings are projected to climb 4.1 per cent from the same month last year, the smallest annual advance since mid-2021
Average hourly earnings rose 0.4% in December after gaining 0.4% in the prior month. That raised the year-on-year increase in wages to 4.1% from 4.0% in November
Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the US job market remains strong even as the US Federal Reserve attempts to cool the economy. Layoffs fell to 1.5 million from 1.7 million in August, more evidence that workers enjoy an unusual degree of job security. The number of Americans quitting their jobs a sign of confidence they can find better pay elsewhere was virtually unchanged. The September openings are down from a record 12 million in March 2022 but remain high by historical standards. Before 2021 when the American economy began to surge from the COVID-19 pandemic monthly job openings had never topped 8 million. Unemployment was 3.8 per cent in September, just a couple of ticks above a half century low. Openings were up by 141,000 at hotels and restaurants, which have struggled to attract and keep workers since the COVID-19 pandemic struck in early 2020. The Federal Reserve's inflation fighters would like to see
The number of available positions increased to 9.61 million from a revised 8.92 million in July, the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey, or JOLTS
Wage growth continued to decelerate. Workers who stayed in their jobs experienced a 6.2% pay increase in July from a year ago, the slowest since November 2021
The jobless rate for March slid slightly to 3.5 per cent from February's 3.6 per cent, the data showed