In March, the economy added jobs at a surprisingly strong pace. The unemployment rate edged down, marking the longest period of sub-4% unemployment rates since the 1960s. Wage growth remains cooled somewhat in March, a welcome sign for those hoping the Fed lowers interest rates this year. No Slowdown in Hiring U.S. businesses added 303,000 […]

Once again, job gains exceeded expectations. The unemployment rate ticked up, reaching the highest level since January 2022. Wage growth remains robust, but moderated somewhat in February. There’s a lot of positive news in February’s jobs report, especially for those hoping the Fed will begin cutting interest rates later this near. Strong job growth, but […]

Despite a recent uptick in layoffs, the unemployment rate remains near historic lows. Wage growth increased to the highest level since September 2023, another sign the labor market was hotter than we thought in January. January’s report kicks off 2024 with a bang. A theme toward the end of 2023 was job growth concentrated in […]

Today’s December jobs report was the final report for 2023. Job gains came in above expectations, and wage growth was unchanged in December, once again showing the resiliency of the U.S. job market. The unemployment rate remains near historic lows. December’s jobs report caps off a year where the labor market constantly defied expectations. There […]

This week, we are breaking down the latest “First Friday” jobs report. In November, job gains came in above expectations and wage gains continued to moderate. The unemployment rate ticked down, suggesting the labor shortage is still a challenge for U.S. businesses. The overall strength of headline numbers is not felt by all industries. Businesses […]

Solid gains, but underlying challenges persist The economy added 150,000 jobs in October, just below economists’ expectations of around 180,000. A soft landing for the economy remains in sight, but some workers and businesses are feeling more pain. While October’s job gains represent a solid month of growth, similar to what we were experiencing before […]

The economy added 336,000 jobs in September, doubling economists’ expectations.  While the jobs report is mostly good news, the acceleration in hiring in September and upward revisions for July and August could be bad news for those hoping the Federal Reserve pauses or even reverses interest rate hikes. Wage growth and a hotter-than-expected labor market […]

The economy added 187,000 jobs in August, just above economists’ expectations. But downward revisions for the previous two months bring the 2023 average to a very solid 236,000 jobs added per month, which suggests the Fed’s interest rate hikes are working as intended to cool the labor market.   The 187,000 jobs added by employers in […]