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Employment

Employment
US payrolls beat forecasts despite warning signs
United States job growth exceeded expectations in April, although several indicators within the closely watched nonfarm payrolls report pointed to a labour market that continues to lose momentum amid broader economic uncertainty. The Bureau of Labor Statistics (BLS) reported on Friday that nonfarm payrolls increased by a seasonally adjusted 115,000 during the month, above market expectations for 62,000 jobs but below the revised gain of 185,000 recorded in March. The unemployment rate held steady at 4.3%, reinforcing the view that only modest employment growth is currently required to maintain stable labour market conditions due to limited expansion in the workforce. Average hourly earnings rose by 0.2% for the month and 3.6% from a year earlier, both below market forecasts of 0.3% monthly growth and 3.8% annual growth, suggesting wage pressures may be easing. Despite the stronger-than-expected headline figure, the report also highlighted several underlying concerns, including another decline in labour force participation and continued weakness in technology-related employment as businesses maintain a cautious hiring environment. The labour force participation rate fell to 61.8%, its lowest level since October 2021,
Employment
US private sector adds 109,000 jobs in April
The United States private sector added more jobs than expected in April as the health services industry continued its gains, though medium-sized companies lagged. Private sector employment rose by 109,000, according to the ADP National Employment Report. This is above Reuters-polled economists’ estimate of 99,000, and exceeds March’s increase of 61,000. “Small and large employers are hiring, but we're seeing softness in the middle,” said ADP chief economist Nela Richardson. “Large companies have resources to deploy, and small ones are the most nimble, both important advantages in a complex labour environment.” Businesses with fewer than 50 employees added 65,000 jobs, while those with more than 500 employees added 42,000. Medium-sized businesses increased employment by just 2,000 jobs. Health services and education led gains with 61,000 new jobs last month, by far the most of any sector. It had added 58,000 jobs in both March and February. Trade, transportation, and utilities added 25,000 jobs, rebounding from a 58,000 decrease in March. Service-providing industries grew by 94,000 jobs, while goods-producing industries grew by 15,000. The West saw the largest job increases of any region at 46,000, while the Mi
Employment
US job openings ease; hiring rebounds sharply
United States job openings edged lower in March, while a sharp increase in hiring signalled improving momentum in the labour market after a period of weakness last year. According to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), vacancies fell by 56,000 to 6.866 million at the end of March, slightly above expectations of 6.84 million. The job openings rate eased to 4.1% from 4.2% in February. Despite the decline in vacancies, hiring rose significantly, climbing by 655,000 to 5.554 million. The hires rate increased to 3.5% from 3.1% in the previous month, indicating stronger employer demand for workers. Layoffs and discharges also increased, rising by 153,000 to 1.867 million, with the rate ticking up to 1.2% from 1.1%, suggesting some pockets of softness remain within the labour market. However, downside risks are building, particularly from geopolitical tensions stemming from the U.S.-Israeli conflict with Iran. The disruption to shipping through the Strait of Hormuz has driven up prices for key commodities, including oil, fertiliser and aluminium, potentially weighing on broader economic activity. For now, labour market resilience is reinforcing expectations that the Federal Reserve
Employment
US job market steady amid global tensions
New applications for United States unemployment benefits fell more than expected last week, signalling continued labour market resilience even as escalating geopolitical tensions and rising energy costs weigh on business sentiment. Initial claims for state unemployment benefits dropped by 11,000 to a seasonally adjusted 207,000 in the week ended 11 April, according to the U.S. Labor Department. The figure came in below economists’ expectations of around 215,000 and remains at the lower end of this year’s 201,000–230,000 range, a level consistent with historically low layoffs. The data underscores a labour market that remains stable in the near term, but economists and policymakers warn that risks are building beneath the surface as the economic fallout from the Middle East conflict intensifies. Firms are holding back on hiring, while higher oil prices and inflation threaten to dampen consumer spending and, in turn, employment. A recent survey from the Federal Reserve’s Beige Book found that businesses across several districts are increasingly relying on temporary or contract workers rather than committing to permanent hires. The report, based on information collected in early April, identified the conflict involv
Employment
Aus unemployment rate stable; full-time work up
Australia’s unemployment rate remained at 4.3% in March as full-time employment rebounded, the Australian Bureau of Statistics (ABS) said today. The unemployment rate matched Westpac estimates. The total number of employed Australians climbed to 14,762,800 during the month. “The number of employed people rose by 18,000 and the number of unemployed people fell by 4,000 in March,” said ABS head of labour statistics Sean Crick. Westpac analysts had projected an increase of 20,000 employed people. The participation rate was unchanged from February at 66.8%. The underemployment rate was also stable at 5.9%. “Growth in employment was driven by full-time workers, which rose by 53,000 people in March. This was partly offset by a fall in part-time employment of 35,000 people,” said Crick. Full-time employment rose by 29,000 people among men and by 24,000 among women, the ABS said. In February, overall full-time employment fell by 30,000. March’s drop in part-time employment follows a surge of 79,000 people in February, particularly driven by workers aged 65 and over. Hours worked rose by 0.5% in March, representing 9.2 million additional hours. Full-time hours were up 7.1 million due to the rise in full-time employment

Employment
US job growth rebounds to beat forecasts in March
The United States labour market added 178,000 jobs in March, far more than expected, rebounding from February’s major losses. March’s nonfarm payrolls increase was more than three times the Dow Jones consensus estimate of 59,000. The U.S. had lost 133,000 jobs in February. “In March, job gains occurred in health care, in construction, and in transportation and warehousing. Federal government employment continued to decline,” wrote the Bureau of Labor Statistics (BLS). The healthcare sector continued to add jobs during the month, with gains of 76,000. This was driven by an increase of 54,000 in ambulatory healthcare services employment, which the BLS credited to physicians’ office workers returning from a strike. Construction employment was up by 26,000 jobs. The transportation and warehousing industry added 21,000 jobs due to a 20,000 surge among couriers and messengers. While February’s reading was revised down by 41,000 to a loss of 133,000, January’s number was revised upwards by 34,000 to a gain of 160,000. The U.S. unemployment rate was 4.3%, per the BLS, down slightly from February’s 4.4%. The percentage of working-age Americans in the labour force dropped to 61.9%, the lowest since November 2021. Averag
Employment
Unemployment suggests steady job market
Unemployment claims in the United States increased slightly in the week ending 21 March, suggesting a stable labour market. According to a Department of Labour report, the number of claims rose 5,000 week-over-week to 210,000. The figure for insured unemployment for the week ending 14 March was 1.819 million, which was a 32,000 decrease from the previous week. This was also the lowest level since 25 March 2024, when it was 1.804 million. However, the lower figure was likely due to people exhausting their eligibility aid, which is limited to 26 weeks in most states. This comes as many economists have downgraded their forecasts for the U.S. economy this year and boosted projections for unemployment, amid a surge in oil prices driven by the war in Iran. Many high-profile companies, like Meta and Paramount, have announced job cuts. According to JPMorgan Chase & Co economist Abiel Reinhart, the decline in continuing claims could be a good sign for upcoming job reports. “The number of unemployed on permanent layoff had kept rising through February in the employment report, but continuing claims are one sign that you could soon see the unemployment rate level off or decline,” Reinhart said in a note following the
Employment
Dimon warns AI could lead to job displacement
JPMorgan Chase CEO Jamie Dimon warns that artificial intelligence (AI) could lead to mass job displacement in the United States and that a solution requires action from both government and business. This comes as the White House grapples with how to regulate AI without stifling innovation as companies race to deploy automation tools that could reshape millions of jobs. ″[If] all of a sudden it creates unemployment, that’s a big problem for society,” Dimon said. Dimon said that while he doesn’t know the answer, it would involve collaboration from government and business. “But the government could create a system of incentives that business does the right thing to retrain people, early retirement, moving people ... if we have the right system in place, we can accommodate much quicker.” He also warned that economic changes from AI will happen rapidly and that it may occur faster than other recent technological developments that disrupted the economy and workforce, like the internet. “This one may be quicker ... so therefore, can we accommodate the people if they lose their jobs quick enough?” Dimon said. Dimon’s warnings come as he has taken steps at JPMorgan Chase to shift employees into new roles as automation
Employment
Australia's unemployment rate up unexpectedly in Feb
Australia’s unemployment rate rose unexpectedly in February, though total employment also climbed as more people moved into part-time work. The seasonally adjusted unemployment rate grew by 0.2 percentage points to 4.3% last month, the Australian Bureau of Statistics (ABS) said. This represents an increase of 35,000 people and surpassed Westpac forecasts of 4.1%. “This month we saw fewer people who were unemployed and waiting to start a job in January move into employment in February, compared to recent Februarys,” said ABS head of labour statistics Sean Crick. “We also saw more people remaining unemployed this month compared to recent Februarys.” Despite the rise in unemployment, the labour force participation rate increased from 66.7% to 66.9%, and total employment climbed by 48,900 to 14,748,700 people. This was largely due to growth in part-time employment, which was up 79,000 to 4,631,800 people. “This month we saw more people move into part-time employment, particularly those aged 65 and over,” said Crick. “Additionally, this month we saw that fewer people are leaving jobs to retire compared to a year ago.” Hours worked also dropped by 0.2% to 2.007 billion in February as the number of Australians in par