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This week, we are breaking down the latest “First Friday” jobs report. June’s hiring totals did not smash expectations. With a respectable 206,000 new jobs added, hiring met expectations for the first time in months. Once again, job gains were concentrated to a few industries, which indicates that private-sector hiring is slowing. The unemployment rate […]
Written by Mallory Vachon, PhD on July 9, 2024
This week, we are breaking down the latest “First Friday” jobs report. Hiring smashed expectations in May, with U.S. businesses adding 272,000 new jobs. The unemployment rate ticked up to 4%, marking the first time we’ve hit that symbolic level since January 2022. Average hourly earnings also increased by more than expected. Wages grew by […]
Written by Mallory Vachon, PhD on June 7, 2024
This week, we are breaking down the latest “First Friday” jobs report. U.S. businesses added 175,000 new jobs in April – below expectations for the first time in what feels like forever. But April’s total is still robust by historical standards. The unemployment rate ticked up to 3.9%, which means the labor market is still […]
Written by Mallory Vachon, PhD on May 6, 2024
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 […]
Written by Mallory Vachon, PhD on April 8, 2024
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 […]
Written by Mallory Vachon, PhD on March 1, 2024
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 […]
Written by Mallory Vachon, PhD on February 2, 2024
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 […]
Written by Mallory Vachon, PhD on January 5, 2024
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 […]
Written by Mallory Vachon, PhD on December 8, 2023
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 […]
Written by Mallory Vachon, PhD on November 3, 2023
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 […]
Written by Mallory Vachon, PhD on October 6, 2023
