Key Points
As the United States economy struggles with the high inflation and subsequent measures by the Federal Reserve, job growth has witnessed a sharp decline with 1,50,000 hirings in October..
The number still looks decent but is considerably less when compared to September when the job growth stood robust at 2,97,000..
The employers in the US tightened their hand as the US Fed decided to keep the benchmark rates unchanged 5.25%-5.50% range, with no signs of reductions..
The central bank is closely monitoring all data related to the economy as it aims to tame inflation which hit a four-decade high last year but has slowed sharply since then. . Despite a slowdown, the companies look intrested in hiring more people..
The latest figures from the Labor Department indicate that in September, employers advertised 9.6 million job vacancies, marking a slight increase compared to August..
You might be interested in
The quest to soften America’s labour market has a downside
26, Jun, 23The Fed must do it to quell inflation but low-end wages will suffer
Jobs or Inflation: Which Will Cool Quicker?
01, Sep, 23Economy’s ability to skirt a recession depends on the job market not cracking before the Fed is satisfied its inflation fight is ending
US adds more jobs in September; unemployment falls to 4.1%
04, Oct, 24Average hourly earnings grew by 0.4% in September, slightly lower than the 0.5% increase seen in August.
US unemployment dips to 3.5% as companies add 187,000 jobs in July
04, Aug, 23US job market resilient, unemployment rate dips to 3.5%, 187,000 jobs added in July. Fed raises interest rates.
Unemployment rate falls to 7.7 pc in May on decline in labour participation: CMIE
10, Jun, 23The unemployment rate in India fell to 7.7 per cent in May due to a decline in the labour participation at 441.9 million, according to a data released by private economic think tank CMIE.
America’s economy has escaped a hard landing
15, Mar, 24But there are still pitfalls ahead
ET Explainer: Why the Fed may dash rate cuts hope
11, Nov, 23The key challenge that has emerged for the US Federal Reserve is to rein in aggressive economic growth spurred by extraordinary fiscal stimulus in the worlds largest economy during the Covid crisis
US layoffs rise to highest in over 2 years, job openings in March dip to 9.6 million
02, May, 23US job openings fell to 9.6 million in March, the lowest level in almost two years. Layoffs rose to 1.8 million, the highest since December 2020, while the number of Americans quitting jobs dropped to 3.9 million, the lowest since May 2021. The Federal Reserve increased its benchmark interest rate nine times over the past year to mitigate inflation. The US job market was historically strong, but the higher interest rates are causing the market to lose momentum.
We need to change our approach to market this year onwards. Nimish Chandan explains why
21, Feb, 24Nimesh Chandan, CIO of Bajaj Finserv Asset Management, believes that the markets have reached fair and higher than reasonable valuations. A change in approach is necessary, and investors should look for bargains in undervalued areas. The paint industry is experiencing an influx of new players, which may impact existing players' market share and valuations.
Finding a Tech Job Is Still a Nightmare
12, Oct, 23Tech companies have laid off more than 400,000 people in the last two years. Competition for the jobs that remain is getting more and more desperate.