Payrolls Rose 173,000 in August as Jobless Rate Drops to 5.1%

Posted by Forexsq 32 days ago (
img Employers added 173,000 workers in August and the jobless rate dropped to 5.1 percent, a level that the Federal Reserve considers to be full employment.

The gain in payrolls, while less than forecast, followed advances in July and June that were stronger than previously reported, the Labor Department said Friday. The unemployment rate is the lowest since April 2008. Average hourly earnings climbed more than forecast and workers put in a longer workweek, the report also showed.

Persistent hiring indicates employers were upbeat about America’s demand prospects leading up to mounting concerns of further deterioration in emerging economies. Fed policy makers meeting in less than two weeks will weigh resilient U.S. employment conditions against the recent turmoil in world financial markets as they debate the timing of any interest-rate increase.

“The labor market is clearly still improving,” Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York, sa

U.S. unemployment rate hits 5.1%, lowest in 7 years

Posted by Forexsq 32 days ago (
img The American economy improved in August but not as much as people had hoped.

The U.S. economy added 173,000 jobs in August, a decent gain that was below expectations and might have dimmed the chances of the Federal Reserve raising its key interest rate in two weeks. Economists surveyed by CNNMoney projected that the economy would add 207,000 jobs.

The unemployment rate was 5.1% in August, down to its lowest level since April 2008.

In addition to the lukewarm jobs gains, wages didn't grow much in August either. Wages only rose 2.2% in August, about in line with expectations but well below the Federal Reserve's 3.5% target.

Wage growth has been missing during the U.S. economic recovery from the recession, and it's also a key measure of inflation -- something that's been absent and that the Fed badly wants to see.

Overall the job numbers in August add more uncertainty surrounding a potential rate hike from the Federal Reserve in two weeks. Fed officials have said they want

Australia Labour Force, Unemployment increased

Posted by Forexsq 26 days ago (
img Employment increased to 11,765,400.
Unemployment increased to 778,400.
Unemployment rate remained steady at 6.2% from a revised July 2015 estimate.
Participation rate increased 0.1 pts to 65.0%.
Monthly hours worked in all jobs increased 0.7 million hours to 1,625.6 million hours.


Employment increased 17,400 to 11,775,800. Full-time employment increased 11,500 to 8,141,000 and part-time employment increased 5,900 to 3,634,800.
Unemployment decreased 14,400 to 781,100. The number of unemployed persons looking for full-time work decreased 3,500 to 561,400 and the number of unemployed persons only looking for part-time work decreased 11,000 to 219,700.
Unemployment rate decreased 0.1 pts to 6.2%.
Participation rate decreased 0.1 pts to 65.0%.
Monthly hours worked in all jobs decreased 0.6 million hours to 1,623.8 million hours.


Trend estimates : The labour force underutilisatio

Retail Sales in U.S. Rise as Consumers Unshaken by Turmoil

Posted by Forexsq 21 days ago (
img Retail sales in the U.S. climbed for a second straight month, a sign consumers may be looking past recent volatility in financial markets.

The 0.2 percent increase in August followed a 0.7 percent gain in July that was larger than previously reported, Commerce Department figures showed Tuesday in Washington. The median forecast of 84 economists surveyed by Bloomberg called for a 0.3 percent advance.

Although confidence has taken a hit from stock-market turmoil and global-growth concerns, the data show households are still putting their savings from cheap energy to work. More jobs and higher pay would go a long way in supporting household spending, which Federal Reserve policy makers are watching as they consider raising interest rates as soon as this week.

“The trend is strong and robust,” said Gregory Daco, head of U.S. macroeconomics at Oxford Economics USA in New York, who correctly forecast the increase in retail sales. Tuesday’s data shows spending is “resistant to outsi

Job growth seen accelerating, leaving Fed closer to hike

Posted by Forexsq 4 days ago (
img U.S. employers likely added jobs at a brisk pace in September, a sign that the labor market is near full strength and could push the Federal Reserve to raise interest rates at one of its two remaining meetings this year.

The Labor Department's monthly employment report, due on Friday at 8:30 a.m. EDT (1230 GMT), will almost certainly show the U.S. economy is growing enough to push the jobless rate lower in the coming months.

Economists surveyed by Reuters forecast U.S. payrolls outside of farming rose by 203,000 last month, bouncing back from softer job growth in August despite worries a China-led global economic slowdown is sapping America's strength.

"The U.S. economy is alive and kicking," said Phil Lachowycz, an economist at Fathom Consulting in London.

The jobless rate was expected to hold steady at 5.1 percent in September because some workers who gave up jobs hunts in harder times were expected to return to the labor force.

But economists estimate that the econom

Payrolls Rise Less Than Forecast, U.S. Jobless Rate Steady

Posted by Forexsq 4 days ago (
img Payrolls rose less than projected in September, wages stagnated and the jobless rate was unchanged as people left the workforce, signaling the global slowdown and financial-market turmoil are rippling through the world’s largest economy.

The addition of 142,000 jobs followed a revised 136,000 gain the prior month that was lower than previously estimated, a Labor Department report showed Friday in Washington. The median forecast in a Bloomberg survey of 96 economists called for a 201,000 advance. The jobless rate held at 5.1 percent, and wage growth was unchanged.

The weak report vindicates the Federal Reserve’s decision to delay an interest-rate increase last month. Cooling overseas markets, a stronger dollar and lower oil prices that are hampering exports and manufacturing raise the risk that employers will hesitate before taking on more staff.

A weaker-than-expected report “would chip away at confidence about the strength of the expansion,” Ryan Sweet, a senior economist at

Ben Bernanke: More execs should have gone to jail for causing Great Recession

Posted by Forexsq 1 day 8 hours ago (
img This season, Ben Bernanke was able to sit through an entire Nationals game.

During the financial meltdown in 2008, the then-chairman of the Federal Reserve would buy a lemonade and head to his seats two rows back from the Washington Nationals dugout, a respite from crisis. But often he would find himself huddling in the quiet of the stadium's first-aid station or an empty stairwell for consultations on his BlackBerry about whatever economic catastrophe was looming.

"I think there was a reasonably good chance that, barring stabilization of the financial system, that we could have gone into a 1930s-style depression," he says now in an interview with USA TODAY. "The panic that hit us was enormous — I think the worst in U.S. history."

With publication of his memoir, The Courage to Act, on Tuesday by W.W. Norton & Co., Bernanke has some thoughts about what went right and what went wrong. For one thing, he says that more corporate executives should have gone to jail for their misde

U.S. Jobless claims edge up; labor market still improving

Posted by Forexsq 47 days ago (
img The number of Americans filing new applications for unemployment benefits unexpectedly rose last week, but the trend remained consistent with solid labor market momentum that could keep the Federal Reserve on track to raise interest rates this year.

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 277,000 for the week ended Aug. 15, the Labor Department said on Thursday.

Claims for the prior week were revised to show 1,000 fewer applications received than previously reported. Economists had forecast claims slipping to 272,000 last week. A Labor Department analyst said there were no special factors influencing the data and no states had been estimated.

Prices for U.S. Treasuries fell slightly after the data, while stock index futures were pointing to a lower open on Wall Street. The dollar dipped against a basket of currencies.

Minutes from the Fed's July 28-29 policy meeting published on Wednesday showed the U.S. central bank upbeat o

U.S. Existing home sales rise to eight-year high

Posted by Forexsq 47 days ago (
img U.S. home resales rose more than expected in July to their highest level since 2007, a sign the U.S. housing market was heating up and could provide more support for the overall economy.

The National Association of Realtors said on Thursday existing home sales increased 2 percent to an annual rate of 5.59 million units.

June's sales pace was revised slightly lower to 5.48 million units from the previously reported 5.49 million units.

Economists polled by Reuters had forecast home resales falling to a 5.44 million-unit pace last month. Sales were up 10.3 percent from a year ago.

A string of strong reports on the U.S. housing market supports the view that the U.S. economy is building up steam and closing in on the point when the Federal Reserve will hike interest rates to keep it from overheating.

The gain in home resales in July was driven by increases in America's South and West, regions that were hit hard by the housing bust of the 2007-09 recession.

Nationwide, the

Jobless Claims in U.S. Rose More Than Forecast Last Week

Posted by Forexsq 33 days ago (
img Filings for U.S. unemployment benefits rose more than forecast to an eight-week high, representing a pause in a trend of more muted firings.

Jobless claims increased by 12,000 to 282,000 in the week ended Aug. 29, a Labor Department report showed Thursday. The median forecast in a Bloomberg survey called for 275,000 new applications. The start of a new school year, which differs from state to state, may introduce a period of volatility in the data as such calendar events are difficult to seasonally adjust, according to a Labor Department spokesman.

Since the beginning of March claims have held below 300,000, indicating employers in the U.S. are confident in their outlook for domestic sales even as global markets show signs of stress. Monthly figures set for release Friday may point to a sustained pace of hiring that is supporting the consumer spending, which is the biggest part of the economy.

“It does suggest that the labor market is pretty tight and that there aren’t a lot

ISM Non-Manufacturing PMI slows in August but tops forecast

Posted by Forexsq 33 days ago (
img The Institute for Supply Management[ ISM Non-Manufacturing PMI ]said on Thursday its services index slipped in August but to a very strong reading indicating growth in the sector. The services index fell to 59% from 60.3% in July, on a scale where readings over 50% indicate improving conditions. The reading beat the MarketWatch-compiled economist forecast of 58%. A similar gauge released by Markit showed a services reading of 56.1 in August, above the flash reading of 55.2 and up from 55.7 in July. Ahead of Friday's payrolls report, the ISM services employment index fell 3.6 points to 56%.

This NFP jobs report is very important, Here's why

Posted by Forexsq 32 days ago (
img Friday is a big day for the U.S. economy.

We will find out how many jobs America's economy added in August and whether wages are finally growing.

But this time the news goes beyond jobs and wages -- a big decision looms in less than two weeks for America's central bank, the Federal Reserve. And it seems to be coming down to the wire, where the jobs report could be the deciding factor.

"It should weigh heavily on the Fed's decision in that meeting," says Sal Guatieri, senior economist at BMO Capital Markets. "This report takes on elevated significance."

The reason is that the jobs growth would confirm the view that the U.S. economy is recovering nicely and strong enough to withstand higher interest rates.

Here's the dilemma: the stock markets are extremely jittery right now because of concerns over China's economic slowdown and its effect globally.

So the Fed could raise rates on September 17 and potentially risk creating even more volatility in global stock markets.

U.S. economy gains 215,000 jobs in July

Posted by Forexsq 60 days ago (
img America's economy is in good but not great shape this year.

The U.S. economy added 215,000 jobs in July. Economists surveyed by forexSQ predicted the economy would add 216,000 jobs. Anything above 200,000 is considered very solid.

The unemployment rate stayed the same at 5.3%, which is its lowest point since April 2008, according to the Labor Department. That's considered near full employment.

"Job growth is quite strong," says Jim O'Sullivan, chief economist at High Frequency Economics, a research firm in New York. "This pace of employment growth is clearly strong enough to keep the unemployment rate trending down."

Wage growth -- the missing piece to America's economic progress -- remained sluggish in July. Average hourly earnings only rose 2.1% compared to the prior year. Wage growth is the reason many Americans haven't felt the benefits of the economy's recovery. The Federal Reserve wants to see annual wage growth closer to 3.5%.

"Wage growth numbers are still tame,

Payrolls in U.S. Climbed 215,000 in July in Broad-based Gain

Posted by Forexsq 60 days ago (

Employers added 215,000 jobs in July and the unemployment rate held at a seven-year low of 5.3 percent, signs of further progress in the U.S. labor market that’s keeping the Federal Reserve on the path toward raising interest rates as soon as next month.

The gain in payrolls last month followed a 231,000 advance in June that was bigger than previously estimated, a Labor Department report showed Friday in Washington. While the data also showed a pickup in hours worked, average hourly earnings climbed a less-than-forecast 2.1 percent from a year earlier, indicating little momentum in wage growth.

The persistent pace of hiring this year indicates companies are sanguine about prospects for demand in the face of a tempered global growth outlook. Better job security that leads to bigger wage gains could encourage consumers to spend more freely and provide more momentum for the economy.

“Trend job growth is rock solid,” said Ryan Sweet, a senior economist at Moody’s Analytics In

ISM and Manufacturing PMI leak for July

Posted by Forexsq 63 days ago (
img ISM's latest manufacturing report for July leaked on Monday morning.

The reading came in at 52.7, below the consensus forecast of 53.5 that was also the prior month's print and a year-to-date high. A reading above 50 indicates expansion, and so despite the slowdown, US manufacturing is still in good shape.

The employment measure fell to 52.7 from 55.5. New orders increased slightly to 56.5 from 56.0. Production jumped to 56.0 from 54.0.

The report had been scheduled for release at 10:00 a.m. ET. After the numbers crossed the wires, the Institute for Supply Management published the report on their website.

A respondent in the survey for the report noted a "summer slow-down", and others bemoaned lower oil prices with the expectation that they'll fall further.

In a note to clients after the data, Capital Economics' Adam Collins wrote, "Looking ahead, the manufacturing sector will probably continue to struggle as the dollar has appreciated further recently and overseas dema

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