employment

In 2024, the U.S. tech industry has witnessed a wave of significant layoffs, with Tesla Inc. (NASDAQ:TSLA) leading the charge with its strategic downsizing. According to CNBC, citing internal data, the electric vehicle (EV) automaker reduced its workforce by at least 14% this year. This reduction...

Economic data released Thursday morning revealed slightly higher-than-expected weekly unemployment claims, sharp contractions in housing starts and building permits, and a drop in a business outlook survey within the Philadelphia Federal Reserve District. Thursday’s Economic Releases: Key...

Microsoft Corp (NASDAQ:MSFT) subsidiary LinkedIn is the latest social media platform to join the artificial intelligence (AI) craze. What Happened: LinkedIn announced the new features in a post on Thursday. The changes will be added on top of LinkedIn’s existing “AI-powered...

Inflation felt by U.S. producers rose less than expected on an annual basis in May, bolstering market optimism for a sustained decrease in price pressures throughout the economy, following a lower-than-anticipated consumer inflation report released on Wednesday. Simultaneously, the Labor Department...

The U.S. labor market showcased its resilience in May, with nonfarm payrolls surging by 272,000, far surpassing the anticipated 180,000. The upper range among economist predictions, as compiled by Econoday, was 225,000, so even the most optimistic forecasters had not anticipated the booming...

The May labor market report delivered hotter-than-expected numbers in terms of job gains and wage growth. Last month, U.S. employers added 272,000 nonfarm payrolls, a sharp increase from April’s 165,000 and well above the expected 180,000. Average hourly earnings witnessed a 4.1% year-on-year...

Are more people looking for a job or is the U.S. labor market continuing to show continued tightness? Investors eagerly awaiting an update on the U.S. labor market will get more insight on Friday when the Bureau of Labor Statistics releases the employment situation report for May. Recent labor...

The number of individuals filing for unemployment benefits soared more than predicted last week, suggesting emerging weaknesses in the labor market. Jobless claims rose from 209,000 to 231,000 for the week that ended on May 4, marking the highest level since August of the previous year, according...

The use of artificial intelligence (AI) in the workplace is at an all-time high, with employees concealing their use of AI tools for fear of being replaced, according to a recent study by Microsoft Corp. (NASDAQ:MSFT) and LinkedIn. What Happened: The Annual Work Trend Index released by Microsoft...

In April, the U.S. economy added 175,000 jobs, falling short of expectations and down from the 315,000 jobs added the previous month. Surprisingly, the unemployment rate inched up from 3.8% to 3.9%, although maintaining a level below 4% for the 27th consecutive month—a streak not seen since the...

Activity in the services sector experienced a sharp slowdown in April, cooling more than expected and showing the first decline since December 2022. What Happened: After 15 straight months of growth, sentiment in the services sector activity entered into contraction last month, according to the...

Editor’s note: This story has been updated with additional details. The April performance of the U.S. labor market missed expectations, providing some evidence of cooling economic momentum and potentially leaving the door open for interest rate reductions later this year. U.S. employers added...

After breathing a collective sigh of relief following Wednesday’s Federal Reserve meeting and Powell’s remarks, investors now anxiously await the April jobs report slated for release on Friday at 8:30 a.m. The condition of the U.S. labor market continues to display signs of robust...

Bank of America U.S. economist Michael Gapen recently provided insights into the expected performance of the U.S. employment sector for April, forecasting nonfarm payrolls will see an increase of 250,000, marking a slight deceleration from the 276,000 average gain over the previous three months....

The rate of job creation in U.S. private sector businesses surpassed predictions in April, indicating continued strength in the employment landscape. Private employers added 192,000 new jobs last month, slightly down from an upwardly revised 208,000 in March, surpassing the projected 175,000,...