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Nonfarm payrolls increased by 235,000 workers in August as the unemployment rate fell to 5.2%, the Labor Department said Friday. Analysts surveyed by Refintiv had expected the addition of 728,000 jobs and the unemployment rate to fall to 5.2%. The job gains in the July report were revised higher by 110,000 to 1.053 million.
READ MOREU.S. private-sector hiring rose much less than expected last month as a resurgence in new COVID-19 infections stunted job gains. The U.S. economy added 374,000 private-sector jobs in August, a modest increase from the downwardly revised 326,000 jobs added in July, according to the ADP National Employment Report released Wednesday. Analysts surveyed by Refinitiv had
READ MOREFederal Reserve Chairman Jerome Powell signaled Friday the U.S. central bank expects to begin unwinding some of its ultra-easy monetary policies by the end of the year as the U.S. economy continues to rebound from the COVID-19 pandemic
READ MOREThe U.S. economy grew faster than previously thought during the second quarter, but that was not enough to exceed economists’ expectations. Gross domestic product, the broadest measure of economic performance, increased 6.6% in the three months through June, according to a second estimate released Thursday by the Commerce Department. Economists surveyed by Refinitiv had expected
READ MOREProducer prices accelerated at the fastest annual pace on record in July as supply chain disruptions and materials shortages continued to put upward pressure on costs.
READ MOREThe Labor Department said Wednesday that the consumer prices rose 0.5% last month, slowing from June’s 0.9% increase.
READ MOREThe bipartisan $1 trillion infrastructure bill that recently passed in the Senate will boost GDP just marginally because it includes only $550 billion in new spending to be disbursed over five to eight years, much of which will be paid for with higher taxes. Through 2029 this spending should boost GDP by, at most, 0.30%/year.
READ MORENonfarm payrolls increased by 943,000 workers in July as the unemployment rate fell to 5.4%, the Labor Department said Friday. Analysts were expecting 870,000 jobs gained and the unemployment rate to fall to 5.7%.
READ MOREThe U.S. economy added 330,000 private-sector jobs last month, a decline from the downwardly revised 680,000 jobs gained in June, according to the ADP National Employment Report released Wednesday. U.S. stocks slipped across the board as investors weighed a slowdown in hiring as reported by ADP. The data is often viewed a precursor to the
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