US Job Data

US job openings rose unexpectedly in November, showing companies are still looking for workers even as the labour market has cooled overall. Openings rose to 8.1 million in November from 7.8 million in October, the Labour Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 as the economy was roaring back from COVID-19 lockdowns. But they still exceed pre-pandemic levels. Economists had expected job openings to fall slightly in November. Layoffs rose slightly in November, and the number of people quitting their jobs fell, suggesting that Americans are less confident in their ability to find better jobs elsewhere. The American labour market has cooled from the red hot hiring of 2021-2023. Employers added 1,80,000 jobs a month in 2024 through November, not bad but down from 2,51,000 in 2023; 3,77,000 in 2022, and a record 6,04,000 in 2021. When the Labour Department releases December hiring numbers on Friday, they're ..

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Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 220,000 for the week ended Dec 14

Based on the November estimate, job growth would be trending around 145,000 over the past three months, which economists said was consistent

South Korean lawmakers urged President Yoon Suk Yeol to resign or face impeachment after he briefly declared and then reversed martial law, sparking a political crisis

Entrepreneur-turned politician Vivek Ramaswamy, who along with Tesla owner Elon Musk has been nominated in-charge of the Department of Government Efficiency, has indicated a massive cut in federal government jobs in the United States. "Elon Musk and I are in a position to start the mass deportations of millions of unelected federal bureaucrats out of the DC bureaucracy. That, too, is how we're going to save this country," Ramaswamy, an Indian American, said at an event in Mar-a-Lago in Florida on Thursday. "I don't know if you've got to know Elon yet, but he doesn't bring a chisel. He brings a chainsaw. We are going to be taking it to that bureaucracy. It's going to be a lot of fun, he said. We've been taught to believe over the last four years that we have become a nation in decline, that we're at the end of the ancient Roman Empire. All we have is to fight over the scraps of some shrinking pie. I don't think we have to stay as that nation in decline. I think with what happened las

Before then is the payrolls report at 1230 GMT. A Reuters survey of economists predicts an increase of 113,000 jobs last month, down sharply on disruptions from hurricanes and strikes by aerospace

Job openings, a measure of labor demand, had fallen by 237,000 to 7.673 million on the last day of July, the lowest level since January 2021

The rally in IT stocks came on the heels of a major drop in US jobless claims, which fell to 233,000 for the week ending August 3-the largest decline in nearly a year.

Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year

Job openings have been steadily declining since hitting a record 12.182 mn in March 2022 as demand moderates in response to the Federal Reserve's aggressive interest rate hikes

Nonfarm payrolls increased by 272,000 jobs last month, the Labor Department's Bureau of Labor Statistics said

The bond yields are also likely to fall after the government announced a buyback of securities worth 400 billion rupees on Friday

Economists said this could allow the Fed to let the economy to run a little stronger before cutting rates

Average hourly earnings are projected to climb 4.1 per cent from the same month last year, the smallest annual advance since mid-2021

The median forecast in a Bloomberg survey of economists also calls for a 3.9% increase in average hourly earnings from a year earlier, the smallest annual gain since mid-2021

Nonfarm payrolls increased by 199,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday

A separate report Friday showed U.S. consumer sentiment improved more than expected in December as households saw inflation pressures easing

The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The previous week's total 233,000 had been the highest since August. The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000. The applications are viewed as a proxy for layoffs. They remain extraordinarily low by historical standards, signalling that most Americans enjoy unusual job security. Overall, 1.84 million Americans were receiving unemployment benefits the week that ended Nov. 11, down by 22,000 from the week before. The Federal Reserve has raised its benchmark interest rate 11 times since March 2022 to slow the economy and rein in inflation that hit a four-decade high last year. The job market and economic growth remained surprisingly resilient, defying predictions that the ..

Data on Wednesday showed US producer prices fell the most in 3-1/2 years in October, while another set of data on Tuesday highlighted that US consumer prices were unchanged in October