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Dow Jones - 1 Giacomo Santangelo - 1
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☆ Friday's jobs report for August is going to be huge. Here's what to expect
  + stars: | 2024-09-05 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
The Wall Street consensus is for nonfarm payrolls growth of 161,000 for August and a slight decline in the unemployment rate to 4.2%, according to Dow Jones. In turn, markets are certain the Fed will start lowering interest rates in a couple weeks, with the possibility of a jumbo cut depending on what Friday's report shows. "What the Fed is going to do in response, how are they going to adjust rates, that's why we are having this conversation." While job growth has been tailing off through much of 2024, the deceleration hit home for the market with a July report that showed payroll growth of just 114,000. The latest bad news came Thursday when payrolls processing firm ADP put August private job growth at just 99,000, the smallest gain since January 2021.
Persons: Dow Jones, Giacomo Santangelo Organizations: Labor Department, Federal Reserve, Fed
☆ Is the Fed ignoring long Covid in its inflation fight?
  + stars: | 2023-02-03 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
But it’s premature to say that Covid is no longer an economic issue when long Covid has such a significant effect on America’s workforce, economists and health care officials say. Long Covid, which stems from a Covid-19 infection, is considered a chronic illness that is sometimes debilitating. As many as 30% of Americans, about 23 million people, develop long Covid after a Covid infection, said the US Department of Health and Human Services in November. “Long Covid has harmed the workforce,” said the report, compiled by the New York State Insurance Fund. Caregiving for those suffering from Covid or long Covid is also affecting the labor imbalance, said Giacomo Santangelo, an economics professor at Fordham University.
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