Quick Facts
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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:
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Latest Sign of Softening Labor Market Emerges
US jobless claim applications jumped to their highest level in almost four years last week, reports the AP , the latest sign that the labor market is softening. The number of Americans filing for unemployment benefits for the week ending Sept. 6 rose 27,000 to 263,000, the Labor Department... Go to Source Author:
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First Jobs Report Since Trump Fired Official Is Due
The Bureau of Labor Statistics is set to drop its latest jobs report on Friday, and there's more than usual riding on the numbers. This is the first report since President Trump abruptly fired the agency's commissioner , Erika McEntarfer, after an unexpectedly weak July jobs tally and sharp downward revisions... Go to Source Author: Rob Quinn with Newser.AI
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New Jobs Report Is Weaker Than Expected
The new jobs report is out, the first one since President Trump fired the head of the Bureau of Labor Statistics and accused her of rigging the numbers. The August report hasn't changed the narrative much, however: It suggests the labor market continued to cool off over the summer. Details:... Go to Source Author: John Johnson
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Americans’ Outlook on the Future Isn’t So Perky
A new Wall Street Journal -NORC poll paints a dim picture of Americans' faith in upward mobility. Just 25% of respondents believe they have a decent shot at improving their standard of living—a record low since the survey began in 1987. More than three-quarters of those who responded to... Go to Source Author: Jenn Gidman with Newser.AI
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Young Chinese People Are Paying for Pretend Jobs
Nobody wants to work for free, let alone pay for the privilege. But, in China, where unemployment is a massive problem for young people, more and more are waking up, getting dressed, commuting, and clocking into "pretend-to-work offices" where they can convince themselves—or others—that they're gainfully employed. The... Go to Source Author: Tim Karan
