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☆ What to expect in Friday’s jobs report
▼ + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.

Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, ”, ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, “ Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, ”, Labor Department Locations: New York, US

☆ January jobs report: Expect to see strong but slower hiring and an uptick in the unemployment rate
▼ + stars: | 2024-02-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —The first jobs report for 2024, set to be released at 8:30 am ET Friday, is expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve. That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

☆ Fed Chair Powell says the job market is still strong. Here’s how the numbers break down
▼ + stars: | 2024-02-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. Fresh data on job cuts and productivityOn Thursday, the layoff picture became clearer. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

☆ Jobless claims fall to lowest level since 2022, while CEO exits hit new high
▼ + stars: | 2024-01-18 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

New York CNN —The number of Americans making first-time claims for jobless benefits dropped last week to a level not seen since the fall of 2022, while CEO exits set a new high last year, according to fresh economic data released Thursday. There were an estimated 187,000 initial claims for unemployment insurance during the week that ended January 13, according to Department of Labor data released Thursday. That’s down by 16,000 claims from the week before and marked the lowest level of first-time claims — considered a proxy for layoffs — since September 24, 2022. Weekly claims data can be quite volatile and are frequently revised, and economists caution that some one-off influences — in this case, harsh weather and a new year — could be at play. “Historically, we’ve seen large economic shifts preceded by a surge in CEO exits,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

Persons: —, ” Andrew Challenger, Challenger, ”, “, ” Matthew Martin, Ian Shepherdson, ” Shepherdson Organizations: New, New York CNN, of Labor, Challenger, ”, Oxford Economics, ’, ” Thursday’s Labor Department Locations: New York, US

☆ What to expect from Friday’s jobs report: Steady, but slower, growth
▼ + stars: | 2023-08-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —Last month, the Bureau of Labor Statistics delivered a jobs report that only Baby Bear could offer: not too hot, not too cold, but just right. While that figure was well below the breakneck pace of job growth over the past three years, it was roughly in line with the monthly average seen in the decade before the pandemic. The August jobs report, set to be released on Friday at 8:30 a.m. ET, is expected to show that the labor market will stay in this sweet spot. The Fed has been wanting to see more slack in the labor market in its battle to bring down inflation.

Persons: Minneapolis CNN —, ”, Julia Pollak, it’s, “, Pollak, Dean Baker, Jerome Powell’s, “ I’m, Rachel Sederberg, ” Andrew Challenger Organizations: Minneapolis CNN, of Labor Statistics, Federal Reserve, Center for Economic, Policy Research, Labor, CNN, Private, ADP, Challenger Locations: Minneapolis

☆ US layoffs fall to seven-month low in June, report says
▼ + stars: | 2023-07-06 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

REUTERS/Shannon Stapleton(Reuters) - American employers slowed downsizing in June, announcing the lowest number of layoffs since October 2022. The planned pace of layoffs in June was well above the 32,517 cuts announced in June 2022. There are 458,209 cuts so far this year, a 244% increase from the 133,211 layoffs announced through June 2022, as employers brace for the prospect of recession. Last month’s announced job cuts total was the highest for a month of June since 2020. The technology sector continues to downsize the fastest with 141,516 total job cuts announced this year, up 2,353% from 5,769 over the same period in 2022.

Persons: Shannon Stapleton, ” Andrew Challenger, month’s Organizations: REUTERS, Reuters, Federal Reserve, Fed, Challenger, Department of Labor Locations: New York City, U.S

☆ What to expect from the jobs report
▼ + stars: | 2023-05-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. It could also hammer home the fact that the US labor market has indeed cooled down from its red-hot recovery over the past two years. What a rising unemployment rate meansEconomists are expecting the unemployment rate to tick up to 3.6% from 3.5%, according to Refinitiv. Mixed signalsPayroll processor ADP’s monthly look at private-sector employment activity, released two days before the BLS’ employment report, is sometimes looked at as a preview of what to expect from the federal data.

☆ What to expect from the jobs report on Friday
▼ + stars: | 2023-01-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —Friday’s jobs report is expected to show that the US economy added 200,000 jobs in December, with the unemployment rate holding steady for the third-straight month at 3.7%. “The preponderance of evidence suggests that the labor market is still nowhere near back to normal,” said Julia Pollak, senior economist with ZipRecruiter online employment marketplace. Historically tightThe US labor market remains atypically tight — something that was reinforced Wednesday when the Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey (JOLTS) report for November. It showed there were still north of 10.5 million job openings, or about 1.7 available positions for every unemployed person looking for work. “But it’s unclear how far inflation can fall without the labor market deteriorating, or rather, it’s not clear what the underlying pace of inflation is with the labor market this tight.”—CNN’s Matt Egan contributed to this report.

☆ Companies reining in holiday bonuses
▼ + stars: | 2022-12-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

This year, economic uncertainty is bringing a chill to the holiday-season perk, according to survey data released Thursday by Challenger, Gray & Christmas. More than 81% of the 252 employers surveyed by the outplacement firm said they planned to freeze the value of holiday bonuses at the same level of last year, while a growing number of companies said they would forgo a bonus altogether. Nearly 27% of companies surveyed said they wouldn’t give a bonus, which is up from 23% in 2021. “We’re clearly seeing some softening in the labor market,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, told CNN. “We’ve been in the tightest labor market in modern American history [with] the lowest level of layoffs, the highest wage increases, the highest number of job openings, the highest number of jobs quit,” Challenger said.

☆ What to expect from Friday’s jobs report
▼ + stars: | 2022-10-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

The US economy is forecast to have added 250,000 jobs in September, which would be the lowest monthly jobs gain since December 2020. August jobs data already indicated that the historically tight labor market has loosened by a notch. The jobs report for that month found that America added 315,000 positions, a much lower level than the 512,000 average job gains over the past 12 months. The unemployment rate will likely have to rise despite these downward demographic pressures, and that likely would have to come from people losing their jobs. It’s not going to be a painless slow grind.”The September jobs report is among the key economic data that Fed policymaking officials will review when they meet in early November to discuss how to stifle stubbornly high inflation.

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