Category: Employers

ADP News Release (11/01/23) Private sector employment increased by 113,000 jobs in October and annual pay was up 5.7% year-to-year, according to the October ADP National Employment Report. “No single industry dominated hiring this month, and big post-pandemic pay increases seem to be behind us,” said Nela Richardson, chief economist ADP. “In all, October’s numbers paint a well-rounded jobs picture. And while the labor market

MarketWatch (10/26/23) Bartash, Jeffry The U.S. economy galloped at a 4.9% annual pace in the third quarter—driven by accelerated consumer spending—and defied forecasts of slowdown in growth. The sharp rise in gross domestic product was more than double the rate of growth in the first six months of the year. It also was the biggest increase since 2014 excluding the pandemic years of 2020-2021. Wall

MarketWatch (10/19/23) Bartash, Jeffry The number of people who applied for unemployment benefits last week dropped to a nine-month low of 198,000, defying expectations that layoffs would increase as higher interest rates squeezed the economy. Economists had anticipated new claims in the week ended Oct. 14 would total 210,000. New jobless claims dropped from a revised 211,000 in the prior week, according to the government.

Wall Street Journal (09/25/23) Weber, Lauren; Pipe, Alana The U.S. economy has been running, improbably, with an unemployment rate under 4% for nearly two years. Work experts have warned for years that the combination of baby boomer retirements, low birthrates, shifting immigration policies, and changing worker preferences is leaving U.S. employers with too few workers to fill job openings. This article originally appeared on wsj.com.