U.S. labor market, manufacturing resilient despite rising interest…

By Lucia Mutikani

WASHINGTON, Sept 1 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a two-month low last week while layoffs dropped in August, suggesting the Federal Reserve would need to continue aggressively raising interest rates to slow the labor market.

\ub9b4\uac8c\uc784 os963.com \ubc14\ub2e4\uc774\uc57c\uae30 \ub9b4\uac8c\uc784\uc2e0\ucc9c\uc9c0 \uc624\uc158 \ubc31\uacbd \uc57c\ub9c8\ud1a0 \ud669\uae08\uc131 \uc624\ub9ac\uc9c0\ub0a0\uc6d0\uc18c\uc2a4 | \ubc30\uc6b0\uae30, \uace0\ub798, \uc0ac\ub0e5

The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed fewer people applied for jobless benefits in the prior week than initially estimated.

Strong demand for 릴게임사이트 workers was reinforced by an Institute for Supply Management (ISM) survey on Thursday that showed a sharp rebound in manufacturing employment in August after three straight months of contraction.

The ISM survey found that “companies continued to hire at strong rates in August, with few indications of layoffs, hiring freezes or head-count reductions through attrition.”

The Fed has been delivering hefty rate hikes to tame inflation by dampening demand in the overall economy.

“Employers remain in a mad scramble to fill open positions and are likely holding onto staff despite ebbs in demand,” said Matt Colyar, an economist at Moody’s Analytics in West Chester, Pennsylvania.”The experience of the past year, an extremely competitive labor market and a fast-moving business cycle, leave businesses loath to let workers go.”

Initial claims for state unemployment benefits decreased 5,000 to a seasonally adjusted 232,000 for the week ended Aug.27, the lowest level since late June. Data for the prior week was revised to show 6,000 fewer applications filed than previously reported. Economists polled by Reuters had forecast 248,000 applications for the latest week.

Unadjusted jobless claims slipped 2,492 to 176,793 last week.There were notable declines in Connecticut, Missouri, Oklahoma and Georgia. Those drops offset big increases in Massachusetts and New York.

The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 26,000 to 1.438 million in the week ending Aug.20.

Aggressive rate increases by the U.S. central bank have raised the risk of a recession. The Fed has hiked its policy rate by 225 basis points since March. So far, 릴게임사이트 there are few signs that higher borrowing costs are cooling demand for labor.

The government reported this week that there were 11.2 million job openings at the end of July, with two jobs for every unemployed person. Labor market resilience continues to dispel fears that the economy is in recession after gross domestic product contracted in the first half of the year.

Signs that the economy continues to expand were bolstered by the ISM survey, whose manufacturing PMI was unchanged at 52.8 last month.A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy.

Five of the biggest six manufacturing industries, including machinery, transportation equipment, and computer and electronic products, registered moderate-to-strong growth.

Makers of computer and electronic products reported “demand from customers is still strong.” Manufacturers of transportation equipment said “strong sales continue.”

While there were signs that supply bottlenecks were easing, helping to slow inflation pressures at the factory gate, shortages persisted for machinery makers.

“The feared recession does not seem to be imminent,” said Scott Murray, an economist at Nationwide in Columbus, Ohio.

U.S.factories are outperforming their global peers, with manufacturing contracting in Europe and Asia this month.


Stocks on Wall Street were trading lower. The dollar rose against a basket of currencies.U.S. Treasury prices fell.

The claims data has no bearing on August’s employment report, which is scheduled to be released on Friday, as it falls outside the survey week. According to a Reuters survey of economists, nonfarm payrolls likely increased by 300,000 jobs last month after surging by 528,000 in July.While job growth is slowing, labor market conditions remain tight.

A separate report from global outplacement firm Challenger, Gray & Christmas on Thursday showed job cuts announced by U.S.-based employers fell 21% to 20,485 in August.Though layoffs rose 30% from a year ago, they were down 27% in the first eight months of this year compared to the same period in 2021.

The technology industry accounted for nearly a quarter of the job cuts announced in August. Technology companies have announced 14,408 layoffs so far this year, a 70% surge from the same period last year.Overall, employers announced plans to hire 41,985 workers in August, up 65% from July.

Economists still expect job growth to slow, especially with worker productivity continuing to plummet at unsustainable rates, putting upward pressure on labor costs.

Weak productivity could also make it harder for the Fed to steer inflation back to its 2% target.

Another report from the Labor Department showed nonfarm productivity dropped at a 4.1% annualized rate last quarter, revised up from the previously reported 4.6% pace of contraction reported last month.

It tumbled at a 7.4% rate in the first quarter.Productivity fell at 2.4% rate from a year ago, instead of the 2.5% pace estimated last month. It was still the biggest year-on-year decline since the government started tracking the series in the first quarter of 1948.

“The degree of the drop in productivity looks implausible to us,” said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.”If productivity is not growing, this represents serious cost pressures to corporations. This is not an encouraging picture for a return towards 2% inflation in a timely fashion.”

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama, Andrea Ricci and Paul Simao)

If you have any inquiries with regards to exactly where and how to use 릴게임사이트, you can make contact with us at the site.

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Paper Helper has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!


Essay Writing Services

At Paper Helper, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.


Admission Papers

You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!


Editing and Proofreading

Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.


Technical papers

We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.


College Essay Writing

If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!


Quality Assignment/Homework Help

We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.

togel macau togel terbesar bocoran admin jarwo data macau