Quick Facts
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Delayed Jobs Report Beats Expectations
The new jobs report is out, and it shows that hiring was significantly stronger than expected in September. The report—delayed for weeks because of the government shutdown—is the last key piece of labor data the Federal Reserve will have ahead of its next meeting in December. Takeaways: Main... Go to Source Author: John Johnson
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We’re Finally Getting September’s Jobs Report
The Labor Department will release its numbers on September hiring and unemployment next Thursday, a month and a half late, marking the beginning of the end of a data drought caused by the 43-day federal government shutdown. The statistical blackout meant that the Federal Reserve, businesses, policymakers, and investors have... Go to Source Author:
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College Students ‘Cover Their Bases’ With 2 Majors
As uncertainty about the job market grows, more US college students are hedging their bets by double-majoring. Nearly 1 in 3 students at the University of Wisconsin-Madison, for example, now pursue two majors, a trend that has surged 25% over the past decade, according to the National Center for Education... Go to Source Author: Jenn Gidman with Newser.AI
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Consumer Sentiment Sinks Faster Than Expected
US consumer sentiment has fallen to one of its lowest points on record, reports the Wall Street Journal . The University of Michigan's latest index slipped to 50.3 in November from 53.6 the previous month, a much sharper drop than expected. Analysts polled by the newspaper anticipated a drop... Go to Source Author: John Johnson with Newser.AI
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October Layoffs the Worst Since 2003
Layoffs in the US have reached recession-level numbers, reports the Washington Post , which cites new data from the private firm Challenger, Gray & Christmas to back that up: So far this year, employers have announced 1.1 million job cuts, a figure in line with the Great Recession of 2008-09,... Go to Source Author: John Johnson with Newser.AI
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ADP Gives Us a Sense of What Happened in October
With the October jobs report all but certain to not materialize on Friday due to the shutdown, a meaningful outside data point: Payroll processor ADP on Wednesday said America's private sector added 42,000 jobs in October, besting expectations of 22,000 fresh jobs and an improvement from September's revised... Go to Source Author: Kate Seamons with Newser.AI
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China Has a Major Domestic Spending Problem
China's economy has a new problem: its own consumers. While global shoppers are snapping up Chinese goods at record rates despite tariffs and trade tensions, Chinese citizens themselves are keeping their wallets closed, the New York Times reports. The result is an economy increasingly reliant on exports, even as officials... Go to Source Author: Rob Quinn with Newser.AI
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Companies’ Reports Are No More Reassuring on Jobs
With official labor statistics absent during the federal shutdown, Wall Street is sifting through alternative sources —and the signals aren't rosy. Bank of America, Goldman Sachs, and private equity giant Carlyle Group all see a cooling US job market, with rising unemployment and fewer positions being added. Carlyle's own company... Go to Source Author: Bob Cronin with Newser.AI
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Americans Are Growing Less Sure They Can Land New Work
Americans' belief in their ability to land a new job has hit a record low, according to a new survey from the Federal Reserve Bank of New York. In August, respondents put their "perceived probability" of finding work after a job loss at just 44.9%—down 5.8 points... Go to Source Author: Kate Seamons with Newser.AI
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CBO: Economy Will Get Worse Before It Gets Better
President Trump's tariff policies, immigration crackdowns, and sweeping tax and spending law are expected to increase jobless rates and inflation and lower overall growth this year before they improve next year, according to a new report from the nonpartisan Congressional Budget Office. The CBO on Friday released new economic projections... Go to Source Author:
