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Search resuls for: "Dante DeAntonio"


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New York CNN —Almost every month, economists expect the hot US labor market to start showing signs of exhaustion. The booming labor market has to run out of gas eventually, right? Enjoy it while it lastsHistorically speaking, there’s only so long a really good labor market can last until, for instance, a recession or tighter financial conditions disrupt it. Taken together, that could mean the life expectancy of the current labor market isn’t very long. One big reason why the labor market continues to defy expectations is the result of a surge in immigration over the past year.
Persons: February’s, Jefferies, Thomas Simons “, ” “, Simons, Will Baltrus, That’s, ” Dante DeAntonio Organizations: New, New York CNN, Conference, Labor, Bureau of Labor Statistics, Brookings, Moody’s Locations: New York
Minneapolis CNN —For several months now, the US labor market has been on a cooling trajectory, and Friday’s jobs report made that even more apparent. The US economy added 150,000 jobs last month, falling below expectations but still notching a solid month of employment growth, according to Bureau of Labor Statistics data released Friday. October’s job growth came in below September’s stronger-than expected but downwardly revised total of 297,000 jobs. Including the estimated 150,000 jobs added last month and the downward revisions to August and September that totaled 101,000 jobs, the United States is averaging 239,000 jobs gained per month so far this year. Where the jobs were — and weren’tBecause of the timing of the striking actions and how the BLS tracks such activity, October is the first jobs report that reflects the massive strike.
Persons: , Sung Won Sohn, Nancy Vanden Houten, Jerome Powell, Gus Faucher, Dante DeAntonio, ” DeAntonio, “ It’s, ” Ger Doyle, ManpowerGroup, Amy Glaser, we’ve, “ We’re Organizations: Minneapolis CNN —, of Labor Statistics, SS Economics, Loyola Marymount University, United Auto Workers, Ford, General Motors, UAW, Big, Federal Reserve, Fed, Oxford Economics, BLS, PNC Financial Services, Government, Moody’s, , CNN, Locations: Minneapolis, United States, Southern California
CNBC Daily Open: Look beyond the headline jobs number
  + stars: | 2023-10-09 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +3 min
Joe Raedle | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe number of jobs the U.S. economy added in September was so unexpectedly high that markets fell right on cue. Instead, the shocker of a jobs report said nonfarm payrolls increased by 336,000 last month, the most since January. After reeling from the shocking headline number, investors had time to digest the details in the report.
Persons: Joe Raedle, nonfarm, Stocks, Dante DeAntonio, Dow, It's Organizations: Tire, CNBC, shocker, Federal Reserve, Nasdaq, Treasury, Dow Jones Industrial, Moody's Locations: Miami , Florida, U.S, Israel
Big U.S. banks continue to add jobs as Goldman Sachs cuts staff
  + stars: | 2023-01-14 | by ( ) www.cnbc.com   time to read: +3 min
The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. Citigroup Inc's Chief Financial Officer Mark Mason told an earnings briefing "we're actively hiring to execute against our strategy. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.
[1/4] A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's (JPM.N) Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America (BAC.N) also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.
But annual revisions to the data showed productivity much stronger in 2020 and 2021 than previously reported. Unit labor costs - the price of labor per single unit of output - increased at a 3.5% rate after accelerating at a pace of 8.9% in the second quarter. Unit labor costs advanced at a 6.1% rate from a year ago. Growth in unit labor costs was much slower than previously estimated in 2020 and 2021. Labor costs"Both productivity growth and labor cost growth may be understated," said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.
Oct 13 (Reuters) - Late-stage U.S. startups are scooping up talent unlocked by layoffs and hiring freezes at Big Tech, adding experienced engineers and project managers to their roster despite signs of an economic slowdown. A survey of 581 executives, almost entirely from U.S. tech startups, showed that more than 40% of them boosted their hiring plans in the first half of 2022, according to hiring firm A.Team and startup consultant MassChallenge. Companies are also shortening hiring times and offering higher pay packages to lock in candidates as they compete for talent in a tight labor market, recruiters said. Still, some analysts warn there is only so long until startups can continue the hiring pace amid a weak economic backdrop. "If the economy does indeed go into recession, it will only add to the pressure faced by tech firms as demand dries up," says Dante DeAntonio, director of economics research at Moody's Analytics.
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