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
World stocks were mostly lower on Monday after a US jobs report released Friday came in hotter than expected, while the euro fell after French President Emmanuel Macron dissolved the National Assembly following a setback in Sunday's parliamentary election. Far-right parties made major gains in parliamentary elections Sunday, leading French President Emmanuel Macron to call a snap election. This caused the euro to drop to its lowest price in nearly a month. The euro was trading at $1.0766, down from $1.0778. The setbacks for incumbent parties cast a shadow across the region. The CAC 40 in Paris sank 1.7% to 7,866.87 and Germany's DAX lost 0.7% to 18,425.26. Britain's FTSE 100 declined 0.4% to 8,215.84 in early trading. The future for the S&P 500 shed 0.1% and that for the Dow Jones Industrial Average was down 0.2%. Markets in Asia ended mixed. In Tokyo, the Nikkei 225 index rose 0.9% to 39,038.16 after government data on Monday showed Japan's economy contracted at an annualized ...
The offshore yuan was last at 7.1959 per dollar, and gained more than 1 per cent last week
US employers hired far more workers than expected in March and raised wages at a steady clip, the Labor Department said
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
The Fed repricing has followed Friday's blockbuster U.S. jobs report that far exceeded market expectations and sent U.S. bond yields soaring, boosting the country's currency
High interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the euro zone appear to be here to stay in the near term
The median forecast in a Bloomberg survey of economists also calls for a 3.9% increase in average hourly earnings from a year earlier, the smallest annual gain since mid-2021
Nonfarm payrolls increased by 199,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday
The dollar index firmed 0.2 per cent, making bullion more expensive for overseas buyers
The business activity index, which parallels ISM's factory output gauge, climbed in November after posting the biggest drop this year in the prior month
Demand for labor is slowing, overall labor market conditions have remained tight despite higher interest rates
US job openings fell in July by more than expected to a more than two-year low, offering fresh evidence that labor demand is cooling
US job openings slipped in May but remained at levels high enough to illustrate that the American labour market remains resilient in the face of sharply higher interest rates. Employers posted 9.8 million job vacancies, down from 10.3 million in April, the Labour Department said on Thursday. But layoffs fell slightly, and more Americans quit their jobs a sign they were confident they could find better pay or working conditions elsewhere. Monthly job openings remain high by historic standards they had never hit 8 million before 2021 despite the Federal Reserve's aggressive campaign to cool the American labour market and slow the economy to combat inflation that last year hit four-decade highs. The Fed has hiked its benchmark short-term interest rate 10 times since March 2022. The higher borrowing costs have had an impact: Economic growth has slowed, and monthly job openings are down from their March 2022 peak of 12 million, highest on record. Inflation is down, too: Consumer pr
Economists polled by Reuters had forecast job growth of 205,000
The US added 311,000 jobs in February, beating estimates, but the unemployment rate also rose to 3.6% while monthly wages rose at the slowest pace in a year
The yen weakened to a three-week low of 132.60 per dollar after the report, and was last fetching 132.35, down 0.88%
The euro was little changed on the day at $1.0521, and the dollar was up 0.25% against the Japanese yen at 133.70
The MSCI World equity index rose by 0.3%, putting it on the cusp of its first weekly gain in more than a month