All Posts Tagged: job growth

U.S. Outlook: Don’t let the headline fool you; job engine is intact

Scott Anderson
Chief Economist

Hurricane Florence muddied the waters of the September payroll report.

Business people on a break in a glass covered space.However, the U.S. labor market managed to reveal its underlying strength and resilience despite the miss on the headline jobs number.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Oct. 5.

Key observations:
  • The U.S. economy has added over 200K jobs per month over first three quarters of 2018.
  • The last time the U.S. economy managed that feat was way back in 2105, when the unemployment rate was much higher than it is today (over 5%).
  • The year-on-year wage growth rate failed to accelerate, slipping back to 2.8% from 2.9% in August.
  • The report increases the odds the Fed will raise the fed funds rate two more times next year.

Read my full report.

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California Economic Outlook – September 2018

Scott Anderson
Chief Economist
View of downtown Los Angeles, with semi-crowded freeway in the foreground on a sunny morning.

California’s job creation continues to outpace that of the United States as a whole, a trend that has been firmly in place since March of 2012.

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U.S. Outlook: Trade fears mount

Scott Anderson
Chief Economist
Large bundle of steel rods being lifted via crane off a stack of many bundled rods.

More signs emerged this week that the Goldilocks view of the U.S. economic outlook could be in for a serious challenge in the weeks ahead.

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U.S. Outlook: Job growth back on track in June

Scott Anderson
Chief Economist
Chart showing growth in various job sectors in June.

Overall this was a solid payroll report that reinforces the notion that the U.S. labor market remains a bright spot for the U.S. economic expansion.

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Instant Analysis: Employment report for March

Scott Anderson
Chief Economist
Carpenter varnishing a large board

The U.S. employment report for March was another piece of positive economic news.

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