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☆ 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.

☆ US private payrolls miss expectations in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 5 (Reuters) - U.S. private employers hired far fewer workers than expected in March, suggesting that the labor market was cooling. 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. 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 215,000 jobs in March.

☆ U.S. private payrolls increase in February -ADP
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 8 (Reuters) - U.S. private payrolls increased more than expected in February, pointing to continued labor market strength. Private employment increased by 242,000 jobs last month, the ADP National Employment report showed on Wednesday. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. The ADP initially reported 106,000 private jobs were created in January, a fraction of the 443,000 surge in private payrolls estimated by the BLS. According to a Reuters survey of economists, private payrolls likely increased by 213,000 jobs in February.

☆ U.S. consumer prices increase in January; trend slowing
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

The consumer price index increased 0.5% last month after gaining 0.1% in December, the Labor Department said on Tuesday. Monthly inflation was boosted in part by rising gasoline prices, which increased 3.6% in January, according to data from the U.S. Energy Information Administration. The revisions, updated seasonal factors and new weights prompted some economists to bump up their CPI forecasts. In the 12 months through January, the CPI increased 6.4%. Excluding the volatile food and energy components, the CPI increased 0.4% after rising 0.4% in December.

☆ U.S. consumer prices revised higher in December, November
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 10 (Reuters) - U.S. monthly consumer prices rose in December instead of falling as previously estimated and data for the prior two months was also revised up, which some economists said raised the risk of higher inflation readings in the months ahead. The consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month, the Labor Department's annual revisions of CPI data showed on Friday. Data for November was also revised higher to show the CPI increasing 0.2% instead of 0.1% as previously estimated. In October, the CPI rose 0.5%, revised up from the previously reported 0.4% increase. Excluding the volatile food and energy components, the CPI rose 0.4% in December, instead of 0.3% as previously reported.

☆ U.S. job growth accelerates in January, wage gains moderate
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 3 (Reuters) - U.S. job growth accelerated sharply in January amid a persistently resilient labor market, but a further moderation in wage gains should give the Federal Reserve some comfort in its fight against inflation. The Labor Department's closely watched employment report's survey of establishments on Friday showed that nonfarm payrolls surged 517,000 jobs last month. Economists polled by Reuters had forecast payrolls increasing by 185,000 jobs and wages advancing 4.3% year-on-year. It also incorporated new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate of 3.4% is not comparable to December's 3.5% rate.

☆ Strong U.S. job growth expected in January; wages seen cooling
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"Wage growth is decelerating less than inflation," said Kate Bahn, chief economist at the Washington Center for Equitable Growth in Washington. It will also incorporate new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate will not be directly comparable to December. REVISIONS IN FOCUSThe revisions will attract attention after researchers at the Philadelphia Fed published a paper in December that suggested employment growth in the second quarter was overstated by a million jobs. Economists will be closely watching the labor force for signs whether the current pace of job growth will persist.

☆ U.S. private payrolls miss expectations in January -ADP
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 1 (Reuters) - U.S. private payrolls increased far less than expected in January, hinting at some cooling in the labor market. Private employment increased by 106,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private jobs increasing 178,000. It has been a poor predictor of private payrolls in the BLS employment report. According to a Reuters survey of economists, nonfarm payrolls likely increased by 185,000 jobs in January after rising by 223,000 in December.

☆ U.S. private payrolls beat expectations in December, ADP says
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 5 (Reuters) - U.S. private payrolls increased more than expected in December, pointing to still-strong demand for labor despite higher interest rates. Private employment increased by 235,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private jobs increasing 150,000. It has been a poor predictor of private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 180,000 jobs in December after rising by 221,000 in November.

☆ U.S. third-quarter economic growth revised up; goods trade deficit widens in October
▼ + stars: | 2022-11-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Gross domestic product increased at a 2.9% annualized rate, the Commerce Department said in its second estimate of third-quarter GDP. Economists polled by Reuters had forecast GDP growth would be raised to a 2.7% rate. Gross domestic income (GDI) had contracted at a 0.8% pace in the second quarter. Profits from current production decreased $31.6 billion in the third quarter after rising $131.6 billion in the second quarter. Inventories subtracted from GDP growth in the third quarter.

☆ U.S. private payrolls growth slows in November-ADP
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 30 (Reuters) - U.S. private payrolls increased far less than expected in November, suggesting demand for labor was cooling amid high interest rates, a survey showed on Wednesday. Private employment increased by 127,000 jobs in November, the ADP National Employment report showed. Economists polled by Reuters had forecast private jobs increasing 200,000. The jury is still out on the ADP's reliability in predicting the private payrolls component in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 200,000 jobs in November after rising by 233,000 in October.

☆ Services sector boosts U.S. private payrolls in October
▼ + stars: | 2022-11-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The pick-up in private hiring shown in the ADP National Employment report on Wednesday was concentrated in the services sector, specifically the leisure and hospitality industry. "A tight labor market and rising wages will complicate things for the Fed and the risk is the labor market could remain tight for quite some time," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. Economists polled by Reuters had forecast an increase of 195,000 private jobs. According to a Reuters survey of economists, private payrolls likely rose by 200,000 jobs last month after rising by 288,000 in September. With no job gains expected in the government sector, overall nonfarm payrolls are also forecast to have increased by 200,000.

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