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☆ China's Xi tells BRICS summit that Chinese economy is resilient
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] China's President Xi Jinping speaks, as South Africa's President Cyril Ramaphosa listens, at the Union Buildings ahead of the opening remarks of the BRICS emerging economies meeting, in Pretoria, South Africa August 22, 2023. REUTERS/Alet Pretorius Acquire Licensing RightsAug 22 (Reuters) - China's leader Xi Jinping told the BRICS group on Tuesday that China's economy was resilient and that the fundamentals for its long-term growth remained unchanged. Xi, who is in South Africa for a summit of Brazil, Russia, India, China and South Africa (BRICS), made the remarks in a prepared statement read by Chinese Commerce Minister Wang Wentao at a business forum. "The Chinese economy has strong resilience, tremendous potential and great vitality," Xi said through Wang. "The giant ship of the Chinese economy will continue to ride the wind, cleave waves, and forge ahead," Xi said.

Persons: Xi Jinping, Cyril Ramaphosa, Alet Pretorius, Xi, Wang Wentao, Wang, Michael Martina, Grant McCool Organizations: REUTERS, Chinese Commerce, Thomson Locations: Pretoria, South Africa, Brazil, Russia, India, China, U.S

He called the U.S. central bank's misreading of the issue "a major failure" that can mar analysis of where the economy stands. Since 2016, policies from the vastly different Trump and Biden administrations have combined in a sort of accidental complementarity to keep both job and economic growth above the Fed's estimate of potential. Median Fed policymaker projections of potential U.S. economic growth have slid from a level around 2.5% a decade ago to 1.8% as of June 2023, when the last projections were issued. Under pressure from colleagues to raise interest rates as the economy accelerated, Greenspan resisted and accommodated the expansion instead of fighting it. But it could help economic growth continue even as prices cool, another prop for the "soft landing" the Fed hopes to engineer and possible evidence of rising potential.

Persons: John Williams, Joe Biden, Adam Posen, Donald Trump, Trump's, Biden, Dana Peterson, Peterson, Jerome Powell, Board's Peterson, Alan Greenspan's, Greenspan, Jackson, John Fernald, Huiyu Li, Michael Feroli, Antulio Bomfim, Powell, Howard Schneider, Paul Simao Organizations: Federal Reserve, New York Fed, San Francisco, Fed, Reuters, BlackRock, Bank of England, Peterson Institute for International Economics, Trump, Biden, Conference Board, Jackson, San Francisco Fed, JPMorgan, Trust Asset Management, Thomson Locations: U.S, Jackson Hole , Wyoming, Washington

☆ Ending tipped wage system will hurt the people it's trying to help: Fifty/50 Group's Scott Wiener
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnding tipped wage system will hurt the people it's trying to help: Fifty/50 Group's Scott WienerScott Weiner, The Fifty/50 Restaurant Group co-owner, joins 'Squawk Box' to discuss the latest fight in the war over tipping, after activists in Chicago want to end the city's 'tipped wage system', under which some restaurants are allowed to pay servers less than minimum wage as long as tips boost their earnings up to or above that level, the impact on the labor force, inflation, and the city's culinary experience.

Persons: Scott Wiener Scott Weiner Locations: Chicago

☆ Some of America's poorest communities are landing clean energy projects
▼ + stars: | 2023-08-16 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

This is just one example of a struggling community that has landed a major investment in clean energy since President Joe Biden signed the Inflation Reduction Act into law exactly one year ago Wednesday. The $750 billion law — the largest climate investment in US history — has helped spark a boom in private investment, especially in clean energy, electric vehicles and batteries. Importantly, many of these clean energy projects are set to be built in communities that really need the help. New plants could bring people into the labor force who have been left behind,” the Treasury analysis finds. The $4.4 billion investment is expected to create 300 new jobs and support countless existing ones.

Persons: Joe Biden, —, Wally Adeyemo, ‘, it’s, ” Daniel Yergin Organizations: New, New York CNN, Adams Fork Energy, CNX Resources, Treasury Department, CNN, Honda, LG Energy, Treasury, Bank of America, ” Bank of America, P, P Global Locations: New York, Mingo County , West Virginia, Mingo County, Fayette County , Ohio, Columbus, Marysville , Ohio

☆ Detroit's Big 3 automakers are headed for a clash with their workers' union as they gear up for another contentious contract negotiation
▼ + stars: | 2023-08-16 | by ( Nora Naughton | ) www.businessinsider.com time to read: +7 min

The United Auto Workers union is negotiating new four-year contracts with Ford, GM, and Stellantis. UAW President Shawn Fain isn't ruling out a strike, potentially at more than one company. The White House has weighed in as the automotive industry's labor union, the United Auto Workers, is gearing up for a fight with Detroit's Big Three car companies this summer and fall. The average labor costs for the Detroit Three heading into contract talks four years ago hovered between $55 and $60 per hour. Correction: July 27, 2023 — An earlier version of this story incorrectly said workers at GM's Ultium plant were not represented by a Union.

Persons: Shawn Fain isn't, Detroit's, Joe Biden, Biden, Ford, Shawn Fain, He's, Fain, Biden's, John Deere, Tesla Organizations: United Auto Workers, Ford, GM, Detroit, UAW, Morning, Chrysler, Jeep, Facebook, University of California, EV, Lordstown, Labor, Center for Automotive Research, Union Locations: Tennessee

☆ Meet the stay-at-home dads: They're on the rise as more men drop out of work and skip college
▼ + stars: | 2023-08-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

It's a trend often fueled by economic downturns and one that some stay-at-home dads hope will stick around. A husband may lose his job or something like that and decide to be a stay-at-home dad, but then he chooses to remain a stay-at-home dad," Shannon Carpenter, a stay-at-home dad for 15 years and the author of "The Ultimate Stay-at-Home Dad," told Insider. And you can see the change starts with stay-at-home dads, that that is an option for us to go through." How stay-at-home dads are changingOver the past 30 years, the number of stay-at-home parents has been on the rise — but the number of stay-at-home moms has essentially stayed flat. But there seems to be some evidence that changing gender norms are contributing to the rise in stay-at-home dads."

Persons: Andrew Ebright, he's, I'm, Ebright, I'd, Shannon Carpenter, St . Louis, Richard Reeves, hasn't, Carpenter, Richard Fry, Fry, Pew, Drew, Drew — Organizations: Service, Pew Research Center, Wall Street Journal, National Center for Education Statistics, Washington University, Boston Fed, Brookings Institution, Pew Locations: Wall, Silicon, St .

☆ Work-from-home to the rescue? How remote workers are fueling the labor force
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWork-from-home to the rescue? How remote workers are fueling the labor forceCNBC's Steve Liesman and Roger Ferguson, former Federal Reserve vice chairman, join 'Squawk Box' to discuss whether work-from-home workers are fueling the rebound in labor supply and benefitting the broader economy, the impact on inflation and the Fed's rate hike campaign, and more.

Persons: Steve Liesman, Roger Ferguson Organizations: Federal Reserve

☆ Bank of America: Remote work expands labor force participation
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of America: Remote work expands labor force participationAlan Guarino, Korn Ferry vice chairman, joins 'Last Call' to talk the state of remote work, benefits of remote and hybrid options and Bank of America's recent note on the post-pandemic work environment.

Persons: Alan Guarino, Korn Organizations: Email Bank of America, Korn Ferry, Bank of

☆ 'Barbie,' Taylor Swift and Beyoncé provide women-powered economic boost
▼ + stars: | 2023-08-09 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +5 min

New York CNN —It’s the summer of girl power, fueled by Beyoncé, Taylor Swift and “Barbie.”Millions of people across generations are paying through the nose for these experiences, providing a women-powered boost to the economy. “I loved going with my family” to Taylor Swift and “Barbie,” said 15-year-old Chelsea Deutsch. A positive messageEleven women and girls from Chelsea’s extended family – spanning ages 12 to 54 – went to see Taylor Swift at MetLife Stadium in East Rutherford, New Jersey. ‘I made it happen’Helen Polise was not going to let two canceled flights stop her from seeing the last Taylor Swift concert in Los Angeles with her daughter Julie. Julie and the young girls from the family of 11 who all saw Taylor Swift walked away from the “Barbie” movie with their moms in mind.

Persons: New York CNN —, Taylor Swift, “ Barbie, ”, Chelsea Deutsch, “, ” “ Barbie ”, Taylor, “ Barbie ”, Kristina Chiapetta, Landor & Fitch, –, Barbie, Jennifer Deutsch, Chelsea’s, Chiapetta, Helen Polise, Julie, Polise, Swift, that’s, Julie Polise, “ We’re, Dylan Ritcher, Lisa Van Strat Organizations: New, New York CNN, California Center, Jobs, Warner Bros, Warner Bros ., Landor &, “, MetLife, of Labor Statistics Locations: New York, Stockholm, Los Angeles, East Rutherford , New Jersey, United States

☆ Hiring untapped talent: Hiring workers with a disability
▼ + stars: | 2023-08-07 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHiring untapped talent: Hiring workers with a disabilitySenior Personal Finance Correspondent Sharon Epperson looks at a part of the labor force that is seeing job gains.

Persons: Sharon Epperson Organizations: Finance

☆ I'm part of the luckiest class of Gen Zers. Here's how we won the economic recovery.
▼ + stars: | 2023-08-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

The pandemic threw Gen Zers off their professional trajectories. For the oldest Gen Zers, the pandemic economic recovery was a huge success. Here's how the class of 2019 won the pandemic recovery. The class of 2019 graduated into recession fears, but it was an economic downturn like none we've seen beforePolitano technically graduated in fall 2018, but considers himself part of my cohort as he began work in 2019. Are you a class of 2019 graduate, and have a story to tell about the economy of the last four years?

Persons: Gen Zers, Zers, Zers —, —, Joey Politano, he'd, Politano, couldn't, that's, they're, Hillary Hoffower Organizations: Service, Pew, millennials Locations: Wall, Silicon

☆ Stock-market investors rarely see a recession coming despite warning signals. As all the classic alarm bells ring again, this time is no different, experts say — setting investors up to get crushed.
▼ + stars: | 2023-08-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 has rallied 17% year-to-date, but the Treasury yield curve and LEI point to a downturn. For Rosenberg, the difference is that we currently have an inverted yield curve, a recession signal that has preceded every downturn since the 1960s. An inverted yield curve means that rates on short-duration Treasurys rise higher than rates on long-duration Treasurys. The yield curve inverts often during Fed hiking cycles because short-term Treasury rates track closely along with the fed funds rate. The below chart shows the share of consecutive trading days where the yield curve has been inverted.

Persons: Piper Sandler's Michael Kantrowitz, David Rosenberg, Rosenberg, —, Here's Lacy Hunt, here's Rosenberg, Piper Sandler, Piper Sandler Kantrowitz, Kantrowitz Organizations: Rosenberg Research, Federal, Hoisington Investment Management Company, of Labor Statistics

☆ Biden labor secretary sees 'slow and steady' growth in July jobs report
▼ + stars: | 2023-08-04 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Julie Su, nominee to serve as Secretary of Labor, arrives for her confirmation hearing in the Senate Health Education Labor & Pensions Committee on Thursday, April 20, 2023. WASHINGTON — The U.S. economy saw the smallest jobs increase in July since December 2020, but Acting Labor Secretary Julie Su said the number reflects what experts increasingly believe see as a "soft landing" for the U.S. economy. Nonfarm payrolls increased by 187,000 last month, slightly below expectations, and the unemployment rate fell slightly to 3.5%. "This is an example of what slow and steady growth looks like," Su told CNBC's "Squawk on the Street" on Friday. She also touted the "very high labor force participation rate, especially among prime-age workers aged 25 to 54."

Persons: Julie Su, WASHINGTON —, Su, CNBC's Organizations: Labor, Health Education Labor, Pensions, WASHINGTON Locations: WASHINGTON — The U.S, U.S

☆ Black unemployment rate ticks lower in July as jobs market remains tight
▼ + stars: | 2023-08-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Mario Tama | Getty ImagesThe unemployment rate for Black workers fell slightly in July as the broader labor market remains tight. Black workers' jobless rate fell to 5.8%, according to the Labor Department on Friday. Broken down by gender, Black men's unemployment rate fell to 5.3% in July from 5.9% in June. In July, the U.S. unemployment rate was little changed at 3.5%, which is just above the lowest level since late 1969. Meanwhile, Asian workers' unemployment rate fell to 2.3% in July, a 0.9 percentage point drop from 3.2% in June.

Persons: Mario Tama, That's, It's, Black, Valerie Wilson, Wilson Organizations: Port, Getty, Labor Department, Federal Reserve Locations: Port of Los Angeles, San Pedro, Los Angeles , California, U.S

☆ US job growth slowing but labor market still tight
▼ + stars: | 2023-08-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Labor Department's employment report on Friday also showed job growth in May and June was revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes. "We haven't approached that fork in the road yet, but there is still a strong possibility that the labor market can rebalance without a recession." The job growth in June was the weakest since December 2020. With the labor market still tight, wages continued to rise at a solid clip. "The Fed will take comfort from moderating job growth, but will continue to fret about the tight labor market," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto.

Persons: Elizabeth Frantz, Nick Bunker, Sal Guatieri, Lucia Mutikani, Diane Craft, Paul Simao Organizations: REUTERS, Labor, Data, Reuters, Reuters Graphics Reuters, Employment, Treasury, BMO Capital Markets, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Toronto

☆ Job growth slowed in July after a red-hot labor market in the first half of the year
▼ + stars: | 2023-08-04 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Private education and health services saw a one-month job gain of 100,000, with healthcare and social assistance seeing a gain of 87,100. Leisure and hospitality, construction, and financial activities are some of the other industries that saw job growth. Julia Pollak, chief economist at ZipRecruiter, told Insider Friday's report from BLS showed a slowing labor market but one that's "still very solid." Different data points before Friday's jobs report suggest that the labor market is still a strong jobs market for workers and job seekers. Pollak described the labor market as sustainable, and Bunker described it as robust. So this is still a strong, resilient, robust labor market."

Persons: payrolls, Daniel Zhao, Julia Pollak, Pollak, it's, Nick Bunker, Tuesday's, Bunker, Labor Julie Su, we're Organizations: payrolls, Service, of Labor Statistics, BLS, Friday's BLS, North America, Bureau of Labor Statistics, Labor Locations: Wall, Silicon, Friday's

In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. Faced with the tightest job market in decades, many have become less trigger-happy with layoffs, even in the face of a cooling economy. But, so far, the economy has continued to grow, albeit more slowly, and the job market has powered onward. Reuters Graphics'HOLD ONTO YOUR LABOR FORCE'At least one major company has adopted a formal strategy of hoarding workers. "I don't think it's the case that many businesses are holding onto workers who are idle," she said.

Persons: Kevin Kelly, Nathan Frandino, Kelly, Alan H, Shaw, they're, Dana Peterson, Peterson, Arnold Kamler, Julia Pollak, Thomas Simons, We're, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Emerald Packaging, REUTERS, Packaging, Employers, Federal Reserve, Labor, Reuters Graphics, Norfolk, Reuters, U.S, Survey, Labor Department, Conference Board, Business Council, Kent International, Jefferies, Thomson Locations: California, Union City , California, U.S, San Francisco, Norfolk Southern, downturns, Atlanta, New York, South Carolina, rehire, Los Angeles

☆ July jobs report: U.S. payroll growth totaled 187,000, lower than expected
▼ + stars: | 2023-08-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

A more encompassing unemployment rate that includes discouraged workers and those holding part-time jobs for economic reasons fell to 6.7%, down 0.2 percentage point from June. The survey of households, which is used to calculate the unemployment rate, showed a more robust gain of 268,000. The unemployment rate for Blacks moved lower to 5.8% while the rate for adult women nudged higher to 2.7%. A 3.5% unemployment rate, you can't complain about that," said Satyam Panday, U.S. chief economist at S&P Global Ratings. This is a "really, really solid labor market," said Jonathan Stokoe, senior vice president at job placement firm Adecco.

Persons: Nonfarm, Dow Jones, Stocks, Satyam Panday, Jonathan Stokoe, Rick Rieder, Jerome Powell, Goldman Sachs Organizations: Labor Department, Federal Reserve, Dow Jones, Treasury, Blacks, Gross, Atlanta, Group, Fed, Bank of America Locations: U.S, BlackRock

☆ DNA of enslaved iron workers illuminates African American history
▼ + stars: | 2023-08-03 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

A view of the site of the Catoctin Furnace, an iron forge where enslaved people of African descent once worked, in Cunningham Falls State Park in Maryland, U.S., in this undated photograph. The site now also is providing unique insight into African American history thanks to research involving DNA obtained from the remains of 27 individuals buried in a cemetery for enslaved people at Catoctin Furnace. For African American and United States history, revealing these stories and family legacies is important to understanding and acknowledging who we are, where we came from and how we are connected to each other today," Bruwelheide added. Enslaved people of African descent were forced to work in agricultural, industrial and domestic settings in parts of the United States. In a first-of-its-kind analysis, the researchers examined historical DNA alongside genetic testing company 23andMe's personal ancestry database to identify 41,799 Americans related to the 27 individuals, including 2,975 close relatives.

Persons: Aneta, Camp David, Kari Bruwelheide, Bruwelheide, Éadaoin Harney, Andy Kill, enslavers, Kathryn Barca, Barca, Will Dunham, Rosalba O'Brien Organizations: REUTERS, U.S, Smithsonian Institution, Democratic, Smithsonian's National, of, United, Workers, Catoctin, Smithsonian, Thomson Locations: Cunningham Falls, Park, Maryland, U.S, Handout, REUTERS WASHINGTON, Camp, Catoctin, West, Central Africa's, Senegal, Gambia, Angola, Democratic Republic of Congo, Africa, Americas, Washington, United States, Civil

☆ India restricts laptop imports to boost local manufacturing
▼ + stars: | 2023-08-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China. Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India. Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

Persons: Narendra Modi, Modi, Piyush Goyal, Apple, ” Organizations: CNN, Ministry of Commerce, Industry, Reuters, Apple, Samsung, Organisation for Economic Co, Micron, Vedanta Locations: India, China, Gujarat

☆ Here's everything you need to look for in Friday's July jobs report
▼ + stars: | 2023-08-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

The prime-age participation rate, for one, focuses on the 25-to-54 age group cohort. watch now"The durability of this labor market largely comes because we simply don't have the people," said Rachel Sederberg, senior economist for job analytics firm Lightcast. They don't even come close to the Baby Boomers who have left the labor market." Those measures include job data from alternative sources, the job openings count from the Labor Department, and the firm's own employer surveys. The trick, said Lightcast economist Sederberg, is for the labor market to be cooling but not crashing.

Persons: Jeff Greenberg, Jeffrey Roach, Roach, —, Covid, Rachel Sederberg, We've, X, Tom Garretson, Garretson, Goldman Sachs, Goldman, Spencer Hill, Hill, Sederberg, we've Organizations: Miami, Universal, Getty, Federal Reserve, LPL, Baby Boomers, RBC Wealth Management, RBC, Labor Department Locations: Miami Beach , Florida, Normandy Isle, 7ty, U.S

☆ Wells Fargo pledges $60 million for worker re-entry program
▼ + stars: | 2023-08-02 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File PhotoNEW YORK, Aug 2 (Reuters) - Wells Fargo (WFC.N) on Wednesday said it may commit $60 million to Concordance, a nonprofit organization that helps workers with criminal records re-enter the workforce. "We are generally focused on providing support for housing, financial literacy, sustainability, and this is outside our wheelhouse but it is an important issue and deserves attention," Daley said. JPMorgan Chase (JPM.N) runs a similar initiative, Second Chance, to sign up new employees with criminal records. Certain estimates suggest that about a quarter of the U.S. population is left out of the talent pool due to criminal records.

Persons: Wells, William Daley, Daley, JPMorgan Chase, Nupur Anand, Lananh Nguyen, Jonathan Oatis Organizations: REUTERS, JPMorgan, Companies, Initiative, Thomson Locations: Wells Fargo Bank, New York City, U.S, New York

☆ Recent economic data have been very supportive of Bidenomics agenda, says CEA chair Jared Bernstein
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRecent economic data have been very supportive of Bidenomics agenda, says CEA chair Jared BernsteinJared Bernstein, chairman of President Biden’s Council of Economic Advisers, joins 'Squawk Box' to discuss the state of the U.S. economy, whether a soft landing is achievable, the state of the U.S. labor force, and more.

Persons: Jared Bernstein Jared Bernstein Organizations: Biden’s, Economic Advisers Locations: U.S

And yet, the industry is currently battling the highest level of unfilled job openings ever recorded. The construction industry averaged more than 390,000 job openings per month in 2022, the highest level on record, while unemployment in the sector of 4.6% was the second lowest on record. "Commercial construction materials prices are now 40% higher than they were back in February 2020. For construction workers, pay is boomingFor workers who seek construction jobs, the timing has never been better. "The construction industry is now paying 80% more than the average non-farm job in the United States."

Persons: Anirban Basu, Maria Davidson, Lori Ann Larocco, Davidson, it's, Michael Elder, Rucha Vankudre, It's, Brian Turmail, Turmail, doesn't, we've, Vankudre Organizations: Associated Builders and Contractors, ABC, MBTA, Boston Globe, General Contractors of America, . Census Locations: U.S, Boston, United States

☆ Wage Growth Slowed in Second Quarter, a Sign the Economy is Cooling
▼ + stars: | 2023-07-28 | by ( Ben Casselman | More About Ben Casselman | ) www.nytimes.com time to read: +1 min

Wage growth, by various measures, has softened in recent months, but inflation has fallen by even more. Workers are better off as a result: Pay, adjusted for inflation, rose in the second quarter for the first time in two years. The slowdown in wage growth has surprised some economists because the unemployment rate remains very low, which ordinarily would put pressure on companies to raise pay to attract and retain workers. But other evidence suggests that the labor market has softened even without a big increase in joblessness. Employers are posting fewer job openings, are adding fewer new jobs and are poaching fewer employees from competitors, all signs that demand for workers has slowed.

Persons: ”, Beth Ann Bovino, Michael Gapen Organizations: Workers, “, U.S . Bank, Fed, Bank of America Locations: joblessness

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