All articles tagged with #economic report
The recent economic report, delayed by the government shutdown, shows benign inflation in September despite high tariffs, with consumer prices rising modestly and signs of disinflation in housing, providing a green light for the Fed to consider interest rate cuts. However, inflation remains somewhat high, and tariff-related price increases continue to impact consumers, leaving uncertainty about future economic conditions.
Housing starts in May dropped by 9.8% to a 5-year low, indicating a slowdown in new home construction due to waning demand, which could benefit home buyers by reducing competition and prices.
ADP reported that American businesses added 140,000 new jobs in February, slightly below economists' forecast of 150,000, indicating a potential softening in labor market demand after last year's hiring surge. Despite this, job gains are still solid and pay gains, while trending lower, remain above inflation.
According to the September ADP National Employment Report, private sector employment in the US increased by 89,000 jobs in September, while annual pay was up 5.9% year-over-year. The report also highlighted a decline in job growth and wages over the past 12 months. Large establishments drove the slowdown in job growth, losing 83,000 jobs, while pay gains slowed for both job stayers and job changers.
According to the ADP National Employment Report, private sector employment in the US increased by 177,000 jobs in August, with annual pay up 5.9% year-over-year. The report, based on actual payroll data of over 25 million US employees, provides a high-frequency view of the private-sector labor market. Job growth slowed, particularly in the leisure and hospitality sector, but overall numbers are consistent with pre-pandemic levels. Pay growth also decelerated, with job stayers experiencing a 5.9% increase and job changers seeing a 9.5% increase in annual pay.
According to the ADP National Employment Report, private sector employment in the US increased by 324,000 jobs in July, with annual pay up 6.2% year-over-year. Job creation remained strong, driven by the leisure and hospitality sector, although manufacturing saw a decline in employment. Pay growth slowed down, with job stayers experiencing the slowest pace of gains since November 2021. The report provides a detailed breakdown of employment changes by industry sector, region, and establishment size.
The US stock market will be closed on Friday, April 7, for Good Friday and will reopen on Monday, April 10. The US bond market will open at its usual time but close early. Banks will be open, but hours may vary. The closure means the stock market will not react immediately to the Bureau of Labor Statistics' report on the number of jobs added to the economy in March. This report will be the Federal Reserve's final read on the labor market before deciding whether to extend the current tightening cycle to fight high inflation.
The White House's annual Economic Report of the President has criticized cryptocurrencies, stating that they are highly volatile, subject to fraud, and reflect an ignorance of basic economic principles. The report also refutes claims made by crypto proponents, including that they could function like money without a central authority, enable fast digital payments, and increase financial inclusion. The report concludes that crypto advocates need to go back to school and that crypto assets have brought none of the benefits they promised, while their costs have adversely impacted consumers, the financial system, and even the physical environment.
The White House's annual Economic Report of the President included a scathing chapter on digital assets, citing issues for consumers, the financial system, and the environment. The report looked at various claims and stated goals from the crypto industry, saying that "many of them do not have a fundamental value" and noting other issues with the sector. The report did not delve deeply into recommendations for future regulations or Congressional actions that could address the stated risks.