All Posts Tagged: BLS

U.S. Outlook: Moderate job growth continues in January

Scott Anderson
Chief Economist

Here we are at day 35 of the federal government shutdown and economic releases are getting scarce. But next week Busy, crowded street scene in Times Square, NYCshould be an interesting one. We get January employment data from both ADP and the Bureau of Labor Statistics.

We are expecting some deceleration in job growth from December’s blistering 312K pace, but our forecasts remain somewhat above the consensus expectations.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Jan. 25.

Key observations:
  • The drop in initial jobless claims in January to a new 49- year low is both unexpected during a month’s long federal government shutdown and a testament to the residual strength of the U.S. expansion.
  • We are forecasting a nonfarm payroll gain of 175K jobs in January, with the unemployment rate dropping to 3.8% and healthy monthly average hourly earnings growth of 0.3%.
  • Job growth could remain strong enough in the first half of 2019 to justify another rate hike by June.

Read my full report.

U.S. Outlook 12519 Jobless claims

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U.S. Outlook: On the hunt for a better job

Scott Anderson
Chief Economist
Business man on Wall St. at top of escalator carrying folded newspapers

It is widely known that the U.S. economy is creating new jobs at a rapid pace. Since the expansion started, the economy has added nearly 20 million jobs.

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U.S. Outlook: Economy keeps cranking out new jobs

Scott Anderson
Chief Economist
Young professionals in coworking space.

The August employment report looks pretty sweet on the surface.

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U.S. Outlook: Job growth cools in July

Scott Anderson
Chief Economist
Sun-drenched shot of workers hurrying across a bridge at the start of the workday.

Despite the miss on the headline job growth last month, it is impossible to describe the labor market as soft.

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Instant Analysis: Jobs report for December

Scott Anderson
Chief Economist
Busy office setting with several well-dressed stock traders checking activity on their computer terminals.

The labor market continues to firm but is not yet at the overheating stage.

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