This morning, the Labor Department released its December payroll report that showed just 74,000 jobs were added last month. This marks the smallest increase since January 2011 and is significantly below the consensus estimates.
Investors bid indices up on Friday ahead of U.S. labor market figures which are expected to show the economy added about 196,000 private sector jobs in December, with a steady unemployment rate of 7 percent.
Peter Cardillo, chief market economist at Rockwell Global Capital, weighs in on the September jobs report and gives two reasons why the labor force participation rate continues to decline. The Labor Department reported on Tuesday U.S. employers added 148,000 jobs in September, well below economists’ expectations for 180,000, according to Reuters estimates. The unemployment rate unexpectedly ticked down to 7.2 percent, from 7.3 percent in August. However, the Labor Department's report for August
U.S. stock futures rose Friday ahead of the release of the closely watched monthly employment report from the Labor Department. Dow Jones industrial average index futures added 0.2%, Standard & Poor's 500 index futures rose 0.3% and Nasdaq index futures were up 0.2%. Economists are forecasting that employers added 180,000 jobs last month. On Thursday, the Dow fell 0.4% to 15,821.51. In energy trading, benchmark U.S.
Paychex CEO Martin Mucci introduces the Paychex/IHS Small Business Jobs Index and its findings and employment trends. The index is a monthly measure of change in small business in the U.S. Mucci explains the Index for March remained at a peak, following sharp gains in January and February. The Mountain Region is leading year-over-year small business employment gains and produced the second-fastest all-employer job growth in the the nation in 2013, according to the Bureau of Labor Statistics.
Stocks remained solid but largely unmoved by U.S. jobs data Friday as investors said the pace of job creation was not enough to prompt a change in the Federal Reserve's policy. Labor Department found that the world's largest economy added 192,000 jobs in March. The unemployment rate was unchanged at 6.7 percent. Because the figures matched predictions, they failed to change perceptions over the future policy path of the Federal Reserve.
This morning, the ADP payroll survey showed 176,000 new jobs were added in August, below the June and July figures, but in line with the average monthly gain for 2013. Results nearly matched economists' expectations for the month, but all eyes will be on the Labor Department's official report due on on Friday morning.
The markets edged up into positive territory today as investors took in some economic data which showed a steady improvement in the job market. The Labor Department said US employers added 155,000 new jobs in December while the unemployment rate ticked up slightly to 7.8 percent.
The labor market warmed up along with the weather in April when employers added a much higher-than-expected 288,000 workers to their payrolls, government data showed Friday. The Labor Department also reported that the unemployment rate dropped to 6.3 percent, a 5-1/2 year low, from 6.7 percent in March. The job gains in April were the highest since January 2012.
The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market. Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said on Thursday. The four-week moving average for new claims, which irons out week-to-week volatility, increased 4,250 to 348,000.
This morning, the Labor Department reported a strong surge in job growth as employers added 204,000 new jobs in October. The report also noted that employers added 60,000 more jobs than previously reported in August and September.
Despite the most bullish Wall Street forecast for the December jobs report, which reported far below consensus expectations, Deutsche Bank Senior Economist Carl Riccadonna tells TheStreet's Joe Deaux that they remain optimistic about the U.S. labor situation.