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☆ U.S. economy added 353,000 jobs in January, much better than expected
▼ + stars: | 2024-02-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department's Bureau of Labor Statistics reported Friday. Job growth was widespread on the month, led by professional and business services with 74,000. The report also indicated that December's job gains were much better than originally reported. The January payrolls count comes with economists and policymakers closely watching employment figures for direction on the larger economy. The fourth quarter saw GDP increase at a strong 3.3% annualized pace, closing out a year in which the economy defied widespread predictions for a recession.

Persons: Dow Jones, Jerome Powell Organizations: Labor Department's Bureau of Labor Statistics, Federal Reserve, Labor, Gross, Atlanta, Fed Locations: U.S

☆ US job openings hit more than 2-1/2-year low as labor market cools
▼ + stars: | 2023-12-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Economists polled by Reuters had forecast 9.30 million job openings in October. Job openings decreased by 168,000 in the finance and insurance industry, while real estate, rental and leasing had 49,000 fewer positions. The job openings rate dropped to 5.3% from 5.6% in September. "The current state of the labor market suggests no further recalibration is necessary to bring the labor market back into balance," said Nick Bunker, director of economics research at Indeed Hiring Lab. They also described the labor market as remaining "very competitive," and "trying to get to full staff levels."

Persons: Brian Snyder, Rubeela Farooqi, Nick Bunker, Conrad DeQuadros, November's, Bill Adams, Lucia Mutikani, Chizu Organizations: Taylor Party, Equipment Rentals, REUTERS, Labor, Survey, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Brean, Institute for Supply Management, PMI, United Auto Workers, UAW, Comerica Bank, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, White Plains , New York, South, Midwest, New York, East, Dallas

☆ US weekly jobless claims at three-month high; import prices tumble
▼ + stars: | 2023-11-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. Import prices dropped 0.8% last month after rising 0.4% in September. Economists had forecast import prices, which exclude tariffs, falling 0.3%. In the 12 months through October, import prices declined 2.0% after decreasing 1.5% in September. Excluding fuels and food, import prices dropped 0.2% after dipping 0.1% in September.

Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Goldman Sachs, Lou Crandall, Wrightson, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Goldman, Treasury, Fed, Reuters Graphics, Labor Department's Bureau of Labor Statistics, Consumer, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Massachusetts, Oregon, Georgia, United States, China

☆ US retail sales dip; producer prices post biggest drop in 3-1/2 years
▼ + stars: | 2023-11-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Economists polled by Reuters had forecast retail sales would fall 0.3%. Excluding automobiles, gasoline, building materials and food services, retail sales rose 0.2% in October. Data for September was revised up to show these so-called core retail sales rising 0.7% instead of the previously reported 0.6%. Core retail sales correspond most closely with the consumer spending component of GDP. Goods prices rose 0.8% in September.

Persons: Bill Adams, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: Saks Fifth, REUTERS, WASHINGTON, Federal, Comerica Bank, Commerce, Data, Reuters, United Auto Workers, Treasury, Consumer, Labor Department's Bureau of Labor Statistics, Wednesday, PPI, Reuters Graphics, Fed, Thomson Locations: New York City, U.S, Dallas, Commerce Department's

☆ US producer prices unexpectedly fall in October
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Goods prices dropped 1.4% in October, with a 15.3 plunge in gasoline prices accounting for more than 80% of the decline. Goods prices rose 0.8% in September. Food prices fell 0.2%. Excluding the volatile energy and energy components, goods prices edged up 0.1% last month. These so-called core goods prices rose 0.2% in September.

Persons: Lucia Mutikani Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters, Fed, Thomson Locations: U.S

☆ Instant view: Cooler October US CPI raises confidence that Fed hikes done
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +8 min

Economists polled by Reuters had forecast the CPI gaining 0.1% on the month and increasing 3.3% on a year-on-year basis. The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings. LINDSAY ROSNER, HEAD OF MULTI-SECTOR FIXED INCOME INVESTING, GOLDMAN SACHS ASSET MANAGEMENT, NEW YORK“Today's Core CPI print was below expectations. "The Fed will not want to step back from its hawkish stance yet; the annual core rate at 4% is still some way away from target. THOMAS HAYES, CHAIRMAN AT HEDGE FUND GREAT HILL CAPITAL, NEW YORK"We're happy to see both headline and core CPI come in lower than expected.

Persons: Hannah Beier, ” BEN JEFFERY, GREG BASSUK, ” “, ” BRIAN JACOBSEN, MENOMONEE, we’ll, ” CHRIS ZACCARELLI, LINDSAY ROSNER, GOLDMAN, ” MATTHEW MISKIN, JOHN, “, ” STUART COLE, Kashkari, Powell, PETER ANDERSEN, ANDERSEN, it's, THOMAS HAYES, OLIVER PURSCHE, It’s, ” Organizations: Reading, REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Markets, BMO, Reserve, CPI, ALLIANCE, Fed, Global Finance, Thomson Locations: Philadelphia , Pennsylvania, U.S, WALTHAM, MA, WISCONSIN, CHARLOTTE, GOLDMAN SACHS, JOHN HANCOCK, BOSTON, LONDON

☆ US consumer prices unchanged; core inflation slowing
▼ + stars: | 2023-11-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Grocery food inflation increased 0.3%, driven by gains in the prices of meat, fish and eggs. Reuters GraphicsGOODS DEFLATIONExcluding the volatile food and energy components, the CPI increased 0.2% amid higher costs for rental housing. Health insurance costs rebounded as the BLS implemented changes to the methodology it uses to calculate health insurance prices, effective with October's CPI release. The old method was based on an annual calculation using aggregated health insurance premium and benefit data. There were concerns about the volatility in the annual data and the lag involved in incorporating the health insurance financial data.

Persons: Bing Guan, Christopher Rupkey, Jerome Powell, Powell, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Tuesday, Treasury, Reuters, Fed, CPI, Thomson Locations: SoHo, New York City, U.S, WASHINGTON

☆ Instant View: US jobs growth slows more than expected in October
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

MARKET REACTION:STOCKS: U.S. stock futures (.SPX) rose after the jobs data.BONDS: U.S. Treasury 10-year yield dropped to three-week low after the jobs report, last yield down at 4.562%. FOREX: The dollar index fell after the weaker-than-expected jobs report. There's not a lot of breadth in the markets and there's not a lot of breadth in the job gains anymore." Back month revisions were substantial as the BLS has consistently overestimated job gains this year, unlike last year where they consistently underestimated the gains. "This is a good sign that the labor market is weakening and is playing into the hands of the Fed.

Persons: Elizabeth Frantz, Detroit's, BRIAN JACOBSEN, MENOMONEE, That's, PETER CARDILLO Organizations: REUTERS, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Treasury, BLS, Fed, Global Finance, Markets, Thomson Locations: Arlington , Virginia, U.S, WISCONSIN, September's

☆ US job growth slows in October; unemployment rate rises to 3.9%
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Nonfarm payrolls increased by 150,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday. The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population. The report could strengthen financial market expectations that the Federal Reserve is done raising interest rates for the current cycle. The labor market is the major force behind the economy's staying power, with gross domestic product recording an annualized growth pace of nearly 5% in the third quarter. But others disagreed, saying that the record-setting contracts would only become an issue for wage inflation if the Fed raised rates too high and choked off demand.

Persons: Brian Snyder, Detroit's, Lucia Mutikani, Nick Zieminski Organizations: Taylor Party, Equipment Rentals, REUTERS, Rights, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Reuters, BLS, Federal, UPS, Thomson Locations: Somerville , Massachusetts, U.S

☆ US job growth probably slowed in October due to UAW strike
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The anticipated moderation in employment growth last month would also be pay back after September's enormous gains, the largest in eight months. The Labor Department's closely watched employment report on Friday is expected to show labor market conditions steadily easing, with annual wage growth the smallest in nearly 2-1/2 years and significant growth in the supply of workers. Manufacturing payrolls are forecast falling 10,000 after advancing 17,000 in September. Last week, the BLS reported at least 30,000 UAW members were on strike during the period it surveyed businesses for October's employment report. Wages gains would still be above the 3.5% that economists say is consistent with the Fed's 2% target.

Persons: Brian Snyder, Detroit's, Sam Bullard, payrolls, Veronica Clark, we've, Sung Won Sohn, we're, Brian Bethune, that's, Lucia Mutikani, David Gregorio Our Organizations: Taylor Party, Equipment Rentals, REUTERS, UAW, United Auto Workers, Labor, Federal Reserve, Labor Department's Bureau of Labor Statistics, Manufacturing, BLS, Citigroup, UPS, Finance, Loyola Marymount University, Boston College, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

☆ Wages boost US labor costs in third quarter
▼ + stars: | 2023-10-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The Employment Cost Index (ECI), the broadest measure of labor costs, rose 1.1% last quarter after increasing 1.0% in the April-June period, the Labor Department's Bureau of Labor Statistics reported. Labor costs increased 4.3% on a year-on-year basis after advancing by 4.5% in the second quarter. Wages increased 1.2% in the third quarter after climbing 1.0% in the prior three months. They were up 4.6% on a year-on-year basis after advancing by the same margin in the second quarter. Inflation-adjusted wages for all workers rose 0.9% on a year-on-year basis after jumping 1.7% in the second quarter.

Persons: Megan Varner, Rubeela Farooqi, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, Federal Reserve, Labor Department, Treasury, Fed, Labor Department's Bureau of Labor Statistics, Reuters, Labor, State, Thomson Locations: Dalton , Georgia, U.S

☆ US services sector growth slows moderately
▼ + stars: | 2023-10-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The survey's measure of new orders received by services businesses dropped to 51.8, the lowest level since December, from 57.5 in August. PRICES REMAIN ELEVATEDDespite the slowdown in new orders, services businesses continued to face higher prices. A gauge of prices paid by services businesses for inputs was unchanged at 58.9. Some economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation. The ISM's gauge of services sector employment dipped to 53.4 from 54.7 in August, which mostly reflected supply issues.

Persons: Amira Karaoud, Kurt Rankin, tightens, September's, Goldman Sachs, Lucia Mutikani, Paul Simao, Andrea Ricci, Will Dunham Organizations: REUTERS, PMI, Institute for Supply Management, Federal Reserve, PNC Financial, United Auto Workers, Retailers, Treasury, Fed, ADP, Conference Board, Stanford Digital Economy, Labor Department's Bureau of Labor Statistics, Goldman, BLS, Thomson Locations: Louisville, U.S, WASHINGTON, Pittsburgh

☆ Higher gasoline prices seen boosting US inflation in August
▼ + stars: | 2023-09-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"It's going to be a mixed picture, with headline inflation picking due to higher gasoline prices and core inflation remaining contained," said Sam Bullard, a senior economist at Wells Fargo in Charlotte, North Carolina. "The Fed would be encouraged by the continued moderation trend in core inflation, but it's still too high." While that would mark the second straight month of a pick up in annual inflation, year-on-year consumer prices have come down from a peak of 9.1% in June 2022. In the 12 months through August, the core CPI is forecast to have increased by 4.3%. "Under our new forecast for CPI health insurance, we continue to expect core CPI and especially core services ex.

Persons: Sam Bullard, it's, Ronnie Walker, Goldman Sachs, James Knightley, Lucia Mutikani, Timothy Gardner Organizations: Federal Reserve, Labor Department, U.S . Energy Information Administration, CPI, Financial, Labor Department's Bureau of Labor Statistics, United Auto Workers, General Motors, Ford Motor, ING, Thomson Locations: WASHINGTON, Wells, Charlotte , North Carolina, U.S, I'm, New York

☆ Gasoline fuels US consumer inflation; underlying trend still improving
▼ + stars: | 2023-09-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The consumer price index increased by 0.6% last month, the largest gain since June 2022. Gasoline prices, which jumped 10.6% after rising 0.2% in July, accounted for more than half of the increase in the CPI last month. While that marked the second straight month of a pick-up in annual inflation, year-on-year consumer prices have come down from a peak of 9.1% in June 2022. The so-called core CPI had increased 0.2% for two consecutive months. In the 12 months through August, the core CPI increased 4.3%.

Persons: bode, Phillip Neuhart, Chris Zaccarelli, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, First Citizens Bank, U.S . Energy Information Administration, Treasury, Independent, Reuters, Reuters Graphics Financial, Labor Department's Bureau of Labor Statistics, United Auto Workers, General Motors, Ford Motor, Thomson Locations: WASHINGTON, New York, U.S, Charlotte , North Carolina

☆ Hollywood strike, Yellow bankruptcy likely restrained US job growth in August
▼ + stars: | 2023-09-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

As such, economists are cautioning against reading too much into any sharp deceleration in job gains when the Labor Department's publishes its closely watched employment report on Friday. Nonfarm payrolls likely increased by 170,000 jobs last month after rising 187,000 in July, according to a Reuters survey of economists. Still, employment growth would be more than the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Yellow Corp trucking filed for Chapter 11 bankruptcy in early August, leaving about 30,000 workers unemployed. "This (job growth) would be one more piece of evidence that would be consistent with that, but that also depends a lot on the upcoming inflation data."

Persons: Elizabeth Frantz, it's, Brian Bethune, Nonfarm, payrolls, Conrad DeQuadros, Dean Maki, Ellen Zentner, Morgan Stanley, Lucia Mutikani, Nick Zieminski Organizations: REUTERS, Labor, Boston College, Labor Department's Bureau of Labor Statistics, American Federation of Television, Radio Artists, Yellow Corp, Brean, Point72, Management, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Stamford , Connecticut

☆ Hedge fund manager Dan Niles says S&P 500 could fall by 10% — and the stocks to play it
▼ + stars: | 2023-08-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The S & P 500 could decline by 10% by the end of the year to correct for a recent rise in valuation multiples, according to hedge fund manager Dan Niles. @CL.1 YTD line How to play it Niles, whose fund holds a concentrated portfolio of between 20-40 stocks, also revealed that he was short Apple and long Amazon . According to the hedge fund manager, Apple's valuation at 30x P/E has been made unsustainable after the iPhone-maker reported three consecutive quarters of declining revenues and net profits. That's terrific if you own it, but that's not a game I want to play counting on multiple expansion offsetting earnings going down," Niles added. And that's with the backdrop where I'm concerned about this [multiple expansion]," Niles added.

Persons: Dan Niles, CNBC's, Niles, that's Organizations: Federal, The Labor Department, department's Bureau of Labor Statistics, Apple, Meta Locations: Niles, United States, that's

☆ Slower, but still strong US employment growth expected in July
▼ + stars: | 2023-08-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Labor Department's closely watched employment report on Friday is still expected to show a tight labor market, with the unemployment rate steady near multi-decade lows, though wage growth probably moderated. Nonfarm payrolls likely increased by 200,000 jobs last month, after rising 209,000 in June, according to a Reuters survey of 80 economists. Still, employment growth would be double the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Striking Hollywood writers and actors also likely had no impact on employment growth. Though annual wage growth remains too high to be consistent with the Fed's 2% inflation target, it would be the latest indication of wage pressures continuing to subside into the third quarter.

Persons: Elizabeth Frantz, Sam Bullard, Nonfarm, Carl Riccadonna, Sung Won Sohn, Veronica Clark, Lucia Mutikani, Diane Craft Organizations: REUTERS, Federal Reserve, Labor, Fed, BNP, Labor Department's Bureau of Labor Statistics, Institute for Supply, Labor Department, Conference, Finance, Loyola Marymount University, Citigroup, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

☆ Private sector added 324,000 jobs in July, well above expectations, ADP says
▼ + stars: | 2023-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Sinking Spring, PA - April 19: The sign at the McDonald's restaurant on Penn Ave in Sinking Spring, PA April 19, 2021 with a message on a board below it that reads "Work Here $15 $15 $15". (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images)Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported Wednesday. Job gains for the month totaled 324,000, driven by a 201,000 jump in hotels, restaurants, bars and affiliated businesses. The ADP report serves as a precursor for Friday's more widely followed nonfarm payrolls count from the Labor Department's Bureau of Labor Statistics. Also of note from the ADP report was that the job gains were concentrated in firms with fewer than 50 employees, which were responsible for 237,000 positions.

Persons: Ben Hasty, Dow Jones, Nela Richardson, nonfarm Organizations: Penn, MediaNews, Getty Images, Dow, Reserve, Goods, Labor Department's Bureau of Labor Statistics, BLS, ADP Locations: PA

☆ U.S. private payrolls beat expectations in June
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 6 (Reuters) - U.S. private payrolls increased more than expected in June, indicating that the labor market remains strong despite growing risks of a recession from higher interest rates. Private payrolls jumped by 497,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private employment increasing 228,000. A survey last month showed consumers' perceptions of the labor market more upbeat in June relative to May. According to a Reuters survey of economists, private payrolls likely increased by 200,000 jobs in June.

Persons: payrolls, Lucia Mutikani, Chizu Organizations: ADP, Reuters, Fed, Stanford Digital Economy, Labor Department's Bureau of Labor Statistics, Thomson Locations: U.S

☆ US employers boost hiring in May; unemployment rate jumps to 3.7%
▼ + stars: | 2023-06-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The increase in the unemployment rate from a 53-year low of 3.4% in April reported by the Labor Department on Friday was mostly driven by Blacks. The backfilling of these retirements and increased demand for services are some of the factors driving job growth. Most economists expect overall payrolls growth to continue at least through the end of the year. The drop in household employment combined with a 130,000 increase in the labor force to boost the unemployment rate. The unemployment rate for blacks jumped to 5.6% from 4.7% in April.

Persons: payrolls, Sal Guatieri, Nick Bunker, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Labor Department, Blacks, BMO Capital Markets, Fed, Reuters, Treasury, Reuters Graphics Reuters, Leisure, Writers Guild of America, Labor Department's Bureau of Labor Statistics, Thomson Locations: WASHINGTON, U.S, Toronto, joblessness

☆ Slower US job, wage gains expected in May
▼ + stars: | 2023-06-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Nevertheless, the Labor Department's closely watched employment report on Friday is expected to still show the labor market remaining tight. PROGRESS ON INFLATIONBut the overall labor market remains upbeat, with first time applications for state unemployment benefits hovering at very low levels. Slowing wage inflation is corroborated by other measures like the Atlanta Fed's wage tracker, which has come off its peaks. Financial markets see a nearly 70% chance of the Fed keeping its policy rate unchanged at its June 13-14 meeting, according to CME Group's FedWatch Tool. The Labor Department's Bureau of Labor Statistics, which compiles the employment report, did not record the work stoppage in its May strike report.

Persons: Bill Adams, Brian Bethune, Nancy Vanden Houten, Lucia Mutikani, Chizu Organizations: Federal Reserve, Labor, Comerica Bank, Data, Labor Department, Atlanta, Boston College, Fed, Writers Guild of America, Labor Department's Bureau of Labor Statistics, Oxford Economics, Thomson Locations: y WASHINGTON, Dallas, New York

☆ US employers boost hiring in May, but labor market losing steam
▼ + stars: | 2023-06-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Outside the COVID-19 pandemic, it was the biggest jump since 2010, reflecting a drop in household employment and a rise in the workforce. "However, the other areas of softness in this report suggests that the labor market is losing steam. The backfilling of these retirements and increased demand for services are some of the factors driving job growth. While not dismissing the household survey, economists said the establishment survey was the more reliable of the two. The fall in household employment combined with a rise of 130,000 in the labor force to boost the unemployment rate.

Persons: payrolls, Sal Guatieri, Nonfarm, Mike Blake, Gus Faucher, Conrad DeQuadros, DeQuadros, Daniel Zhao, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Labor Department, BMO Capital Markets, Fed, Reuters, Leisure, Treasury, REUTERS, Reuters Graphics Reuters, Financial, Writers Guild of America, Labor Department's Bureau of Labor Statistics, PNC Financial, Brean, Thomson Locations: WASHINGTON, U.S, Toronto, Oceanside , California, Pittsburgh , Pennsylvania, New York

☆ U.S. private payrolls beat expectations in May-ADP
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 1 (Reuters) - U.S. private payrolls increased more than expected in May, suggesting that the labor market was slowing only gradually, which could result in the Federal Reserve keeping interest rates elevated for some time. Private payrolls increased by 278,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private employment increasing 170,000. According to a Reuters survey of economists, private payrolls likely increased by 165,000 jobs in May. With further gains anticipated in government employment, total nonfarm payrolls are forecast to have risen by 190,000 jobs last month after advancing 253,000 in April.

Persons: payrolls, Lucia Mutikani, Chizu Organizations: Federal Reserve, ADP, Reuters, Fed, Stanford Digital Economy, Labor Department's Bureau of Labor Statistics, Thomson Locations: U.S

☆ US private payrolls increase solidly; wage growth cools
▼ + stars: | 2023-05-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

SummarySummary Companies Private payrolls increase by 296,000 in AprilPrior month's gain revised lower to 142,000WASHINGTON, May 3 (Reuters) - U.S. private employers boosted hiring in April amid strong demand for workers in the leisure and hospitality industry, but a slowdown in wage growth offered some good news for the Federal Reserve's fight against inflation. Private payrolls increased by 296,000 jobs last month, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment would increase 148,000. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 160,000 jobs last month.

☆ US private payrolls growth slows in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 200,000. The government reported on Tuesday that there were 9.9 million job openings at the end of February. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, the government report is likely to show private payrolls increased by 215,000 jobs in March.

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