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☆ 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
☆ US retail spending picked up in August, mostly due to sales at gas stations
  + stars: | 2023-09-14 | by ( Bryan Mena | ) edition.cnn.com   time to read: +3 min
Washington, DC CNN —US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in August, the Commerce Department reported Thursday. Excluding sales at gasoline stations, retail spending advanced a more modest 0.2% in August from July. Retail spending increased across most categories, including at restaurants and grocery stores. Online retail sales in August were flat, after jumping in July due to Amazon’s Prime Day promotional event.
Persons: That’s, It’s, “ Fitch, ”, David Silverman, Goldman Sachs, there’s, Lydia Boussour, “ Encouragingly, Boussour Organizations: DC CNN, Commerce Department, AAA, Federal Reserve, Fitch Locations: Washington, Libya, EY
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