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U.S. economy lost 33,000 jobs in September 2017

By: Beth Mace  |  October 11, 2017

The effects of Hurricanes Harvey and Irma were seen in the September employment report issued by the Labor Department last Friday. The report showed that there was a loss of 33,000 jobs in September, significantly worse that then consensus forecast of a gain of 90,000. Hardest hit was the restaurant sector which had a loss of 105,000 jobs. The sector normally generates a gain of 30,000 jobs in any given month. It is likely that this month’s data will be viewed by the Federal Reserve as storm-related and little policy change will ensue.

Economic Trends  |  Workforce

U.S. economy generated 156,000 jobs in August 2017.

By: Beth Mace  |  September 01, 2017

Analysts, operators and capital providers often pay close attention to the employment data release issued by the Labor Department on the first Friday of the month. This report provides near-real time information about the state of the economy and the U.S. labor market. And with labor representing up to 60% of a typical operator’s expense load, indicators regarding labor availability and its cost are critically important. Additionally, the Federal Reserve pays close attention to the jobs report since it provides clues about the state of the economy as well as wage and inflation pressures. And in today’s economic environment, these data points in turn will help the Fed decide whether it will continue to normalize interest rates and nudge rates higher.

Economic Trends  |  Workforce

U.S. economy generated 209,000 jobs in July 2017

By: Beth Mace  |  August 07, 2017

The Labor Department reported on Friday that nonfarm payrolls increased by a seasonally-adjusted 209,000 positions in July, above the consensus 180,000 estimate. This followed gains of 231,000 in June, originally reported as 222,000, and 145,000 in May, originally reported as 152,000. Monthly revisions result from additional reports received from businesses since the last published estimates and from the recalculation of seasonal factors. Over the past 7 months, job gains have averaged 187,000 per month, similar to the average monthly gain of 187,000 in 2016. The economy has generated jobs every month since October 2010.

Economic Trends  |  Workforce

U.S. economy generated 222,000 jobs in June 2017.

By: Beth Mace  |  July 07, 2017

The Labor Department reported on Friday that nonfarm payrolls increased by a seasonally-adjusted 222,000 positions in June, the largest increase since February, and above the consensus 175,000 estimate. This followed gains of 207,000 in April, originally reported as 174,000, and 152,000 in May, originally reported as 138,000. Monthly revisions result from additional reports received from businesses since the last published estimates and from the recalculation of seasonal factors. Over the past 6 months, job gains have averaged 180,000 per month, not dissimilar to the average monthly gain of 187,000 in 2016. The economy has generated jobs every month since October 2010.

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