The U.S. labor market continued to show resilience in June, with steady job gains led by state/local government and health care sectors. The unemployment rate edged down to 4.1%, signaling ongoing strength in hiring despite persistent economic uncertainty. However, there were some indications that the headline number overstated the health of the labor market, including…
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased slightly from 7.40 million in April to 7.77 million in May. This is smaller than…
The rapid rise of artificial intelligence (AI), particularly machine learning and generative AI (GenAI), is reshaping industries, creating new economic opportunities, and raising critical questions about its long-term impact on jobs and economic growth. A recent study by Ping Wang and Tsz-Nga Wong, titled “Artificial Intelligence and Technological Unemployment” (NBER Working Paper No. 33867, May…
Despite ongoing economic and policy uncertainty, the labor market remains resilient, though early signs of softening are beginning to emerge. Job growth moderated in May, and employment figures for March and April were notably revised downward. The unemployment rate remained at 4.2%. In May, wage growth remained unchanged. Year-over-year, wages grew at a 3.9% rate….
The U.S. job market slowed slightly in April, with notable downward revisions to February and March figures. The unemployment rate held steady at 4.2%. The labor market remains resilient despite growing economic uncertainty, though early signs of softening are beginning to emerge. In April, wage growth remained unchanged. Year-over-year, wages grew at a 3.8% rate….
Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.48 million…
The U.S. job market unexpectedly accelerated in March, while the figures for January and February were revised downward substantially. The unemployment rate ticked up slightly to 4.2% in March, from 4.1% the previous month. This month’s jobs report highlights the continued resilience of the labor market despite sticky inflation, a drop in consumer confidence, mass…
