The jobs market consists of employees and employers searching for and trying to attain a match for employment within a firm. The jobs market is not static, but is constantly changing as the needs of companies change over time. New technology means a different skill level in the workforce, demanding people within the jobs market upgrade their skills to remain employable. Conversely, if there is a shortage of workers in a specific area, then wages will rise for that sector. As with any market, the price (wages) is set by supply and demand.
According to the latest labor market report, U.S. jobs numbers are pointing to an economy that is nowhere near ready for a rise in interest rates. Robust jobs “growth” is simply not there, given the weak manufacturing sector and a troubling inflation outlook. Instead, it appears U.S. jobs growth is moving at its slowest pace since 2013, dragging down the U.S…. Read More
Finally, some good news for the U.S. economy?
Last week, the U.S. Bureau of Labor Statistics reported 248,000 jobs were created in the U.S. economy in September, pushing the unemployment rate down to 5.9% from 6.1% the previous month. (Source: Bureau of Labor Statistics, October 3, 2014.)
The September jobs market report showed good job creation in sectors like professional and business services, information, mining, construction, and financial…. Read More
Six years ago this month, in the midst of the Great Recession, Lehman Brothers, one of the most well-known investment banks in the U.S. economy, filed for bankruptcy.
At the time, Lehman’s bankruptcy sparked widespread worries…and the U.S. financial system teetered on the verge of collapse. For those of us who remember that time, there was too much uncertainty…. Read More
A week ago today, the Bureau of Labor Statistics (BLS) released its jobs market report for the month of August. To say the very least, there was nothing in that report that says the labor market in the U.S. economy is back on its feet. In fact, the report painted a gruesome image of employment in this country.
In August, 142,000 jobs were added to the U.S…. Read More