April 2023 – By Scott Rosenquist, CFA®
Employment data for the month of March showed continued job growth but at a more subdued pace compared to the start of the year. According to the Bureau of Labor Statistics (BLS), nonfarm payroll employment increased by 236,000 last month with the unemployment rate inching lower to 3.5% as more people entered the workforce. The headline number was close to economists’ expectations after several months of data coming in above estimates. Job gains were again concentrated in the service sector of the economy with leisure and hospitality leading the gains for the month.
May 2022 – Scott Rosenquist, CFA®
The latest employment data release showed continued strength in the U.S. labor market. The number of jobs added in the month of April was 428,000, higher than expectations of 400,000. The unemployment rate held steady at 3.6%, just above the pre-pandemic level of 3.5%. The gains were broad-based led by leisure and hospitality (+78k) where employment there remains down 1.4 million from pre-pandemic levels. What does this mean for monetary policy?
December 2021 – By Bob Veres
Anecdotally, we hear that anybody who wants to find a job today will find him/herself in a competitive bidding situation. There are articles that advise job seekers on how to manage competing salary offers, while articles for employers offer advice on how to avert bidding wars for valuable members of their staff. Other articles simply say to current workers that this is a good time to ask for a raise.