Tag: February

Unemployment rate falls to 3.3% in February
Unemployment

Unemployment rate falls to 3.3% in February

Department of Statistics notes that the unemployment rate in February this year was also 0.2% lower than a year ago.
On year-on-year (y-o-y) comparison, the unemployment rate in February 2018 was also 0.2% lower than a year ago, according to the February 2018 Labour Force Statistics report released today.
The DoS said the number of labour force increased 0.3% in February 2018 to 15.23 million from 15.19 million a month earlier.
On the labour force participation rate in February 2018, the department said it remained unchanged at 68.2% compared with that of the previous month.
“On y-o-y comparison, the labour force participation rate in February 2018 increased 0.4% from the same month a year ago,” it said.
It added that 31.8%, or 7.11 million of the working-age population (15-64 years), were outside the labour force in February 2018, up from 7.07 million in the previous month.
“The group comprised housewives, students, retirees and those who were not interested to work,” it said.

US job openings decline in February from record level
Unemployment

US job openings decline in February from record level

The Labor Department said Friday that openings fell 2.8 percent to 6.05 million, down from 6.23 million in January, the most on record dating back to 2001.
Layoffs dropped a steep 7.7 percent, to 1.65 million.
The figures suggest a healthy job market tilting in favor of job seekers.
There are nearly as many job openings as there are unemployed people.
Businesses have complained they can’t fill jobs, and many are feeling pressure to raise pay to attract and keep workers.
When the Great Recession ended, there were 6.7 people out of work for every opening.
In February that report showed that employers added a net total of 326,000 jobs, the most in 18 months.
Yet overall hiring slipped that month, from 5.6 million, to 5.5 million, the JOLTS report shows.
The proportion of Americans in their prime working years — aged 25 to 54 — who are working or looking for work has increased in the past year.
Even so, hiring nationwide may slow as unemployment declines, if companies are unable to fill jobs.

Job openings fall slightly in February from a near record high
Unemployment

Job openings fall slightly in February from a near record high

Jeffry The numbers: Job openings in the United States fell slightly in February from a near record high at the start of the year, but there’s still plenty of open positions to go around and one of the biggest problem companies face is filling them.
Job openings dipped to 6.05 million from 6.23 million in January, the government said Friday.
Companies hire 5.5 million people in February while 5.2 million Americans lost their jobs.
About 3.2 million people quit their jobs.
The percentage of people in the workforce who left their old jobs, known as the quit rate, was unchanged at 2.2%.
Big picture: The U.S. labor market hasn’t been this strong in decades.
The U.S. added an average of 202,000 jobs in the first quarter, the best performance in a year.
And wages for most workers are creeping higher, though not as rapidly as they usually do when the unemployment rate is so low.
Market reaction: The Dow Jones Industrial Average DJIA, -0.82% and Standard & Poor’s 500 SPX, -0.56% turned negative in Friday trades after a positive start.
A separate report on consumer sentiment declined more than expected, as Americans expressed worries about the potential for trade strife after the White House announced tariffs on foreign steel and Chinese products.

US consumer confidence falls from 18-year high in February
Unemployment

US consumer confidence falls from 18-year high in February

American consumers’ confidence has slipped after reaching an 18-year high last month.
The Conference Board said Tuesday its consumer confidence index fell to 127.7 in March.
That was down from 130 in February, which was the highest level since November 2000.
Consumers were less optimistic in March as their assessment of business conditions declined, the Conference Board said.
Their short-term expectations — including their outlook for the stock market — also declined, although overall expectations remain favorable.
The percentage of survey respondents saying that business conditions are good increased from 36.5 percent to 37.9 percent, but those saying business conditions are bad also rose, from 11.3 percent to 13.4 percent.
The business research group’s index measures consumers’ assessment of current conditions and their outlook for the next six months. “Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth in the months ahead,” said Lynn Franco, the group’s director of economic indicators.
Consumers were moderately less optimistic about the short-term outlook for business conditions in March.
The overall index hit bottom at 25.3 in February 2009 in the depths of the Great Recession before rebounding as the U.S. economy recovered.

London-St. Thomas unemployment rate rises to 6.7% in February
Unemployment

London-St. Thomas unemployment rate rises to 6.7% in February

London’s jobless rate has risen for the third straight month.
Stats Canada says the unemployment rate rose to 6.7 per cent last month, up from 6.5 per cent in January.
The jobless rate stood at 6.2 per cent in December.
Even though London-St. Thomas added 1,900 jobs in February that was offset by an increase to both the labour force and the number of people claiming unemployment.
It increased to 60.6 per cent in February, it stood at 59.2 per cent last October.
Despite the increase, London is still well below the provincial average (64.6%) and the national average (65.6%).
Nationally, the economy added 15,400 net new jobs last month as the unemployment rate slipped to 5.8 per cent.
In Ontario, employment was little changed in February with the unemployment rate settling at 5.5 per cent.
Over the past 12 months, Ontario’s jobless rate has fallen by nearly a full percentage point.
With files from the Canadian Press © 2018 Global News, a division of Corus Entertainment Inc.

Jobs report shows US economy added 313K jobs in February
Unemployment

Jobs report shows US economy added 313K jobs in February

The U.S. economy added 313,000 jobs in February, according to the latest jobs report from the Bureau of Labor Statistics.
The unemployment rate came in at 4.1 percent, unchanged from the January report.
In Bankrate’s recent Economic Indicator survey of top economists, 79 percent forecast an unemployment rate below 4 percent by February 2019.
Year over year, average hourly earnings for all employees on private nonfarm payrolls increased 2.6 percent.
Good news, bad news on wages On the all-important question of wages, we saw some slowing there relative to January’s surprise which prompted the steep stock market sell-off.
Even the retail trade saw solid job growth.
As for the outlook, our just-published quarterly economists survey finds, on average, that we should expect about 176,000 jobs added a month over the coming year.
Tax cut much?
Let’s remember that benefits from the income tax cut only began to hit in February and will be gaining further traction in the months ahead.
The Fed Barring the truly unforeseen between now and then, the Federal Reserve remains set to raise interest rates at this month’s meeting.

Australia employment grows in February
Unemployment

Australia employment grows in February

SYDNEY–Australia’s economy remained a steady engine for job creation in February, with a further 17,500 jobs added during the month.
The country’s unemployment rate rose to a higher-than-expected 5.6% during the month from 5.5% in January, according to government data Thursday.
The workforce participation rate rose to 65.7% in February from 65.6% in January, the report showed.
Australia’s job market has been a bright spot for the economy with more than 400,000 jobs added in 2017 amid some of the strongest conditions for business on record.
Interest rates remain at record lows, state governments are spending big on new public works, while commodity prices have been elevated.
The data for February showed the labor force underemployment rate increased 0.1 points to 8.4%.
Seek’s data showed new job ads in Australia have jumped 16% compared with a year ago, led by mining, agriculture and engineering.
Mining recorded a 45% jump in job listings on-year, while engineering job ads were up 63% amid roaring infrastructure spending by the federal and state governments.
The Seek data come after the RBA pointed on Tuesday to increased signs of labor shortages in the key mining states of Queensland and Western Australia.
-Write to James Glynn at james.glynn@wsj.com

Dow jumps 441 points, Nasdaq hits record as February job growth blows past estimates
Unemployment

Dow jumps 441 points, Nasdaq hits record as February job growth blows past estimates

The Dow Jones Industrial Average rallied 440.52 points, or 1.77%, to 25,335.74.
The Nasdaq Composite jumped 132.86 points, or 1.79%, to 7,560.81.
The unemployment rate held steady at 4.1% in the month, just above the 4% analysts anticipated and remaining at a 17-year low.
The modest inflation that emerged in the February jobs report eased those concerns.
“The jobs streak remains intact, and it’s punctuating what has been a tremendous start to the year,” said Mike Loewengart, vice president of investment strategy at E*TRADE.
“Economic growth, of course, is typically welcome by many.
But as wages climb, and the job market continues to tighten, so does the shadow of inflation.
The exclusion of two allies eased concerns on Wall Street of increased trade tensions.
“I’m surprised we haven’t seen more of a market reaction to the North Korean story, with stocks finishing higher but without any real clear direction,” said James Hughes, chief market analyst at AxiTrader.
“This could well have been offset by the tariff news as the announcement has bought widespread condemnation from all quarters.” Shares in Asia gained early after the news broke that North Korea extended an invitation to the U.S. for President Trump to meet North Korean leader Kim Jong Un and Trump accepted.

Stocks jump as February job additions blow past expectations
Unemployment

Stocks jump as February job additions blow past expectations

FBN’s Charles Payne discusses President Trump’s tariffs and whether investors should be concerned about the upcoming jobs report.
The major U.S. stock indexes were rallying Friday, with the tech-heavy Nasdaq hitting an intraday record as the nine-year old bull market showed no signs of slowing down.
Pre-bell, the U.S. government reported that in February employers created 313,000 jobs in the U.S. — crushing analysts’ expectations of 200,000, according to a survey of analysts by Reuters.
The unemployment rate held steady at 4.1% in the month, just above the 4% analysts anticipated.
All three major U.S. stock index futures were lower just before the key jobs report, and they swung higher after the data was released.
Stocks finished the Thursday session with gains, as President Trump signed off on tariffs, excluding Mexico and Canada, easing concerns about a trade war.
The Dow advanced 93 points, or 0.38% to 24,895.
The Nasdaq gained 31 points, or 0.42% to 7,427.
“This could well have been offset by the tariff news as the announcement has bought widespread condemnation from all quarters.” Shares in Asia gained early after the news broke that North Korea extended an invitation to the U.S. for President Trump to meet North Korean leader Kim Jong Un and Trump accepted.
Japan’s Nikkei finished the day up 0.47% higher, having been up as much as 2%.

Stock futures turn higher as February job additions blow past expectations
Unemployment

Stock futures turn higher as February job additions blow past expectations

FBN’s Charles Payne discusses President Trump’s tariffs and whether investors should be concerned about the upcoming jobs report.
U.S. stock futures rose on report that employers created 313,000 jobs in the U.S. — crushing analysts’ expectations of 200,000, according to a survey of analysts by Reuters.
All three major U.S. stock index futures were lower just before the key jobs report, and they swung higher after the data was released.
Stocks finished the Thursday session with gains, as President Trump signed off on tariffs, excluding Mexico and Canada, easing concerns about a trade war.
The Dow advanced 93 points, or 0.38% to 24,895.
The S&P 500 rose 12 points, or 0.45% to 2,738.
The Nasdaq gained 31 points, or 0.42% to 7,427.
The tariffs that Trump officially announced called for a 25% tariff on imported steel and a 10% tariff on imported aluminum, though Canada and Mexico are not immediately subject to those tariffs, which go into effect March 23.
“This could well have been offset by the tariff news as the announcement has bought widespread condemnation from all quarters.” Shares in Asia gained early after the news broke that North Korea extended an invitation to the U.S. for President Trump to meet North Korean leader Kim Jong Un and Trump accepted.
Japan’s Nikkei finished the day up 0.47% higher, having been up as much as 2%.