US Jobs

Ramaswamy didn't single out any contractors, and isn't clear yet how the efficiency drive will be structured

The number of Americans applying for unemployment benefits fell to their lowest level in four months last week. Jobless claims slid by 12,000, to 219,000, for the week of Sept 14, the Labour Department reported Thursday. That's fewer than economist expectations for 230,000 new filings. The four-week average of claims, which evens out some of weekly volatility, fell by 3,500 to 227,500. The total number of Americans collecting jobless benefits fell by 14,000 to about 1.83 million for the week of Sept. 7. That's the fewest since early June. Weekly filings for unemployment benefits are considered largely representative of layoffs.

Brainard, the former Fed vice chair who now serves as the director of the White House National Economic Council, said the Biden administration's focus now is to support growth and the labour market

Government data last week showed nonfarm payrolls increasing by less than expected in August but the unemployment rate falling to 4.2 per cent from 4.3 per cent in July

Hiring by America's employers picked up a bit in August from July's sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy. Employers added 142,000 jobs last month, up from a scant 89,000 in July, the Labour Department said on Friday. The unemployment rate ticked down to 4.2 per cent from 4.3 per cent in July, which had been the highest level in nearly three years. Collectively, Friday's figures depict a job market slowing under the pressure of high interest rates but still growing. Many employers are responding to the resilience of consumers, who stepped up their spending in July, even after adjusting for inflation. With inflation falling steadily back to the Federal Reserve's 2 per cent target, the Fed is preparing to cut its key interest rate from a 23-year high. Friday's mixed report on the job market raises the question of how large a cut the Fed will announce after it meets September 17-18.

A step-down in hiring, which pushed the unemployment rate to a near three-year high of 4.3 per cent in July rattled investors and fanned concerns that a recession was stalking the economy

Indian markets also fell more than 1 per cent on Friday, with the benchmark National Stock Exchange Nifty ending at 24,718

The employment report also showed increase in annual wages last month was smallest in more than three years, effectively sealing the case for the U.S. central bank to cut interest rates in September

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

Spot gold fell 0.6% to $2,377.38 per ounce as of 10:34 a.m. ET (1434 GMT), after rising to its highest level since May 22 on Friday. U.S. gold futures slipped 0.5% to $2,385.20

World stocks were mostly lower on Monday after a US jobs report released Friday came in hotter than expected, while the euro fell after French President Emmanuel Macron dissolved the National Assembly following a setback in Sunday's parliamentary election. Far-right parties made major gains in parliamentary elections Sunday, leading French President Emmanuel Macron to call a snap election. This caused the euro to drop to its lowest price in nearly a month. The euro was trading at $1.0766, down from $1.0778. The setbacks for incumbent parties cast a shadow across the region. The CAC 40 in Paris sank 1.7% to 7,866.87 and Germany's DAX lost 0.7% to 18,425.26. Britain's FTSE 100 declined 0.4% to 8,215.84 in early trading. The future for the S&P 500 shed 0.1% and that for the Dow Jones Industrial Average was down 0.2%. Markets in Asia ended mixed. In Tokyo, the Nikkei 225 index rose 0.9% to 39,038.16 after government data on Monday showed Japan's economy contracted at an annualized ...

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Data for November was revised higher to show 8.925 million unfilled positions instead of the previously reported 8.79 million. Economists polled by Reuters had forecast 8.75 mn job openings in Nov

The dollar index firmed 0.2 per cent, making bullion more expensive for overseas buyers

The business activity index, which parallels ISM's factory output gauge, climbed in November after posting the biggest drop this year in the prior month

Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the US job market remains strong even as the US Federal Reserve attempts to cool the economy. Layoffs fell to 1.5 million from 1.7 million in August, more evidence that workers enjoy an unusual degree of job security. The number of Americans quitting their jobs a sign of confidence they can find better pay elsewhere was virtually unchanged. The September openings are down from a record 12 million in March 2022 but remain high by historical standards. Before 2021 when the American economy began to surge from the COVID-19 pandemic monthly job openings had never topped 8 million. Unemployment was 3.8 per cent in September, just a couple of ticks above a half century low. Openings were up by 141,000 at hotels and restaurants, which have struggled to attract and keep workers since the COVID-19 pandemic struck in early 2020. The Federal Reserve's inflation fighters would like to see

Nonfarm payrolls increased by 336,000 jobs last month, the Labor Department said in its closely watched employment report on Friday

Stock futures rose and Treasury yields sank after the report as the odds of another Federal Reserve interest-rate hike by year-end declined

Spot gold was steady at $1,822.20 per ounce by 0948 GMT, while U.S. gold futures dropped 0.2% to $1,838.40

The number of workers on payrolls will likely be revised down by 306,000 for March of this year, according to the Bureau of Labor Statistics' preliminary benchmark revision projection