September JOLTS Job Openings rose to 10.775M, reversing the largest one month drop on record in August of 10.053M which was revised up to 10.280M. This was the first time JOLTS were under 11million since September 2021. Job openings were up 6.5% month on month, still down -0.8% vs. it’s a peak in March 2022. The JOLTS survey is the Labor Department’s report on job openings, quitting, hiring and layoffs and offers clues on the trajectory of the U.S. labor … Continue reading “US Job Openings Surge Back in September, JOLTS Rise 6.5%”
Zillow Lays Off Another 5% of Employees as Real Estate Market Woes Deepen
The US property market is imploding at a rapid rate. Online real estate marketplace Zillow emailed about 300 employees Tuesday that they were being laid off effective immediately. In November last year, Zillow announced that it would lay off a quarter of its staff, around 2,000 people. These layoffs impacted Zillow Offer advisors, PA sales and back-end staff at Zillow Home Loans and Zillow Closing Services, among others. Yesterday it was announced new home sales declined 10.9% month-over-month in September. … Continue reading “Zillow Lays Off Another 5% of Employees as Real Estate Market Woes Deepen”
US Added 263k Jobs in September with Jobless Rate of 3.5% as Participation Rate Falls
US Nonfarm Payrolls in September rose 263,000 rose higher than the expected 250,000 after the prior increase of 315,000. Job gains were led by the leisure and hospitality industry, which added 83,000 jobs. Healthcare employment rose 60,000. Private payroll company ADP reported that US jobs grew 208,000 private payrolls in September (consensus 198,000) while the August increase was revised up to 185,000 from 132,000 based on ADP’s revised methodology. The Unemployment Rate in September was 3.5% (consensus 3.7%) versus the … Continue reading “US Added 263k Jobs in September with Jobless Rate of 3.5% as Participation Rate Falls”
ADP Reports US Added 208K Jobs in September, Job Changers Lost Momentum
Private payroll company ADP reported that US jobs grew 208,000 private payrolls in September (consensus 198,000) while the August increase was revised up to 185,000 from 132,000. The US Labor Department will report its jobs report on Friday. The tight labor market, rising interest rates and elevated inflation are the main catalysts for weakness. ADP said Job changers lost momentum in September. Job changers, who have been notching double-digit, year-over-year gains since the summer of 2021, lost momentum in September. … Continue reading “ADP Reports US Added 208K Jobs in September, Job Changers Lost Momentum”
Largest One Month Drop in US Job Openings Ever in August, JOLTS Fall -6.2%
August JOLTS Job Openings were down 6.2% to 10.053 million lower than the 10.775M estimate and down from the prior 11.239 million. The first time JOLTS was under 11million since September 2021. This was the largest one month drop on record. The JOLTS survey is the Labor Department’s report on job openings, quitting, hiring and layoffs and offers clues on the trajectory of the U.S. labor market. Job openings still greatly exceed the number of unemployed people seeking work and … Continue reading “Largest One Month Drop in US Job Openings Ever in August, JOLTS Fall -6.2%”
US Payrolls Add Solid 315k in August as Jobless Rate Rose to 3.7%.
US Nonfarm Payrolls in August rose 315,000 (consensus 300,000) after the prior revised increase of 526,000 (from 528,000). Nonfarm Private Payrolls rose by 308,000 (consensus 280,000) after a revised 477,000 increase in July (from 471,000). August ADP Employment Change Report showed an estimated 132,000 employees were added to private sector payrolls versus 270,000 in July based on ADP’s revised methodology. The Unemployment Rate was 3.7% (consensus 3.5%) versus the prior 3.5% reading as the labor force participation rate jumped to … Continue reading “US Payrolls Add Solid 315k in August as Jobless Rate Rose to 3.7%.”
US Job Openings Rose in July to 11.239 million in a Tight Labor Market
The JOLTS survey is the Labor Department’s report on job openings, quitting, hiring and layoffs and offers clues on the trajectory of the U.S. labor market. The report showed Job openings in the U.S. job openings increased to 11.239 mln in July from a revised 11.040 mln (from 10.698 mln) in June. In July, the number and rate of total separations were little changed at 5.9 million and 3.9 percent, respectively. Total separations increased in transportation, warehousing, and utilities (+65,000). … Continue reading “US Job Openings Rose in July to 11.239 million in a Tight Labor Market”
US Payrolls Add Robust 528k in July with 471k in New Private Jobs
US July nonfarm payrolls rose by 528,000 (consensus 250,000) with June’s a revised 372K new jobs. June unemployment rate was 3.5% (consensus 3.6%), versus 3.6% in June and slightly above before the pandemic became widespread in the U.S. in February 2020. Wages grew 5.2% on the year, down from 5.2% in June. In the face of surging inflation June average hourly earnings rose 0.5% (consensus 0.3%) The change in private payrolls +471K, more than the +230K expected. July 2022 US … Continue reading “US Payrolls Add Robust 528k in July with 471k in New Private Jobs”
US Adds Jobs in June with Government Only Major Category Shedding Jobs.
US June nonfarm payrolls rose by 372,000 (consensus 268,000) with May’s a revised 384K new jobs. June unemployment rate was 3.6% (consensus 3.6%), versus 3.6% in May and slightly above before the pandemic became widespread in the U.S. in February 2020. Wages grew 5.1% on the year, down from 5.3% in May. In the face of surging inflation June average hourly earnings rose 0.3% (consensus 0.3%) The change in private payrolls +381K, more than the +240K expected. June 2022 US … Continue reading “US Adds Jobs in June with Government Only Major Category Shedding Jobs.”
US Job Openings Rise in May to 11.254M Up From 11.00M in April
The JOLTS survey showed Job openings in the U.S. rose to 11.254 million in May. Layoffs and discharges remained around 1.4 million, while hires and total separations changed little at 6.5 million and 6.0 million, respectively. JOLTS is the Job Openings and Labor Turnover Survey published by the BLS. The largest decreases were in real estate and rental and leasing (-30,000) and in state and local government education (-28,000). The BLS reports the May Jobs Report Friday. Over the 12 … Continue reading “US Job Openings Rise in May to 11.254M Up From 11.00M in April”