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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 […]
Written by Mallory Vachon, PhD on September 1, 2023
The 187,000 jobs added by employers in July signal that businesses remain confident in adding new positions in addition to backfilling open roles. July’s job gains bring the 2023 total to 1.8 million through the first seven months of the year. Job gains have certainly begun to normalize, and July’s total is just below the […]
Written by Mallory Vachon, PhD on August 4, 2023
The economy added a solid 209,000 jobs in June, just below economists’ expectations of 225,000. June’s number signals a labor market that remains strong while cooling from the hottest labor market on record in 2022. The 209,000 jobs added by employers in June signal that businesses remain confident in adding new positions in addition to […]
Written by Mallory Vachon, PhD on July 7, 2023
Which industries have job growth momentum? Take a look at year-to-date and year-over-year job growth for 175 industries and subsectors. Sustained Job Growth: Positive job growth year-to-date and year-over-year Gaining Momentum: Positive job growth year-to-date and job losses year-over-year Losing Momentum: Job losses year-to-date and positive job growth year-over-year Sustained Job Losses: Job losses […]
Written by Mallory Vachon, PhD on June 15, 2023
The economy added a very robust 339,000 jobs in May, smashing economists’ expectations of around 190,000. Job gains have beat expectations 14 of 17 months going back to January 2022. The 339,000 jobs added by employers in May signal that businesses remain confident in adding new positions in addition to backfilling open roles. May’s job […]
Written by Mallory Vachon, PhD on June 2, 2023
The economy added a very robust 253,000 jobs in April, above economists’ expectations of around 175,000. While this month’s report signals continued strength of the labor market, job gains for February and March were revised downward substantially by 149,000. The labor market was slightly cooler than we thought in the first quarter of 2023. The […]
Written by Mallory Vachon, PhD on May 5, 2023
The economy added a respectable 236,000 jobs in March, right in line with economists’ expectations. This month’s total is notably lower than January’s 472,000 jobs added and February’s 326,000, signaling the labor market cooled somewhat. For those hoping the Federal Reserve continues to slow – or even stall – the pace of interest rate […]
Written by Mallory Vachon, PhD on April 7, 2023
As the world begins to come out on the other side of the COVID-19 pandemic, many industries are experiencing a slow but steady recovery. However, some sectors were hit particularly hard, so now they face an even more challenging recovery path. However, despite their obstacles, many businesses in these industries are finding ways to adapt […]
Written by Rosie Greaves, LaborIQ Staff Writer on April 5, 2023
The truth is, despite the pandemic being more or less quelled, we’re still feeling its economic ramifications. Countries worldwide are grappling with the crunch that’s resulted from the market’s global downturn over the last few years. Consequently, interest rates have taken a real hike this year as banks struggle to pin down inflation. In fact, […]
Written by Rosie Greaves, LaborIQ Staff Writer on March 24, 2023
The economy added a solid 311,000 jobs in February, well-above economists’ expectations of 205,000. February’s job gains are another sign the labor market is hotter than many expected going into 2023 and that January was not an anomaly. For those hoping the Federal Reserve slows the pace of interest rate hikes, February’s report is […]
Written by Mallory Vachon, PhD on March 10, 2023
