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Employment

Employment
US payrolls surge 162,000 in August, beating forecasts
The United States economy added jobs at a much faster pace than expected in August, reversing a summer slowdown in hiring and increasing market expectations for a potential Federal Reserve rate hike this month. Nonfarm payrolls rose by a seasonally adjusted 162,000 last month, according to the Bureau of Labor Statistics. The reading was well above the 56,000 increase expected, while the unemployment rate held steady at 4.1%, in line with forecasts. August's increase was the strongest monthly gain since March and broadly consistent with the Federal Reserve's assessment of a stable labour market. The stronger-than-expected report prompted traders to raise bets on a rate increase at the Fed's 15-16 September policy meeting. Markets were pricing in around a 58.3% probability of a 25-basis-point hike, according to the CME Group FedWatch Tool. President Donald Trump described the report as a "great jobs number" but called on the Fed to lower interest rates. “The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change,” Trump said in a post on Truth Social. “High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!” Trump also threatened to halt tra
Employment
ADP: US private payrolls rise 38,000 in August
Private United States companies added 38,000 jobs in August, below expectations and marking the slowest monthly gain since January, according to payrolls processor ADP. The increase followed an upwardly revised gain of 46,000 jobs in July and fell short of market expectations of 47,000. Job growth was concentrated in three sectors, with education and health services adding 45,000 positions, followed by leisure and hospitality with 16,000 and construction with 12,000. Several industries recorded employment declines. Manufacturing shed 17,000 jobs, while professional and business services lost 16,000. Natural resources and mining, as well as trade, transportation and utilities, each declined by 5,000. Most of the job gains came from large companies, with firms employing 500 or more workers adding 34,000 positions. Companies with fewer than 50 employees added 3,000 jobs. Pay growth remained steady in August. For workers who stayed in their jobs, base pay rose 3.0% year-on-year, unchanged from July, while gross pay, which includes tips, commissions, bonuses and other earnings, increased 4.4%. Across all workers, base pay rose 3.2% and gross pay increased 4.7%. The ADP report comes ahead of the Bureau of Labo
Employment
US job openings edge higher to 7.3m in July
United States employers posted slightly more job openings in July, suggesting the labour market remained relatively resilient despite higher costs weighing on household budgets. Job openings rose to 7.27 million in July from a revised 7.18 million in June, according to the U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Markets had expected the figure to reach 7.3 million. The report also showed that layoffs declined during the month, although the number of workers quitting their jobs also fell, suggesting reduced confidence in finding better opportunities. Gross hiring, before accounting for workers who left or lost their jobs, fell to 5.1 million in July from 5.3 million in June. The U.S. labour market is showing little sign of booming but continues to hold up despite an energy shock caused by the conflict with Iran, which has placed additional pressure on household finances. U.S. employers across the private and public sectors added an average of 61,000 net jobs a month during the first seven months of the year. While that pace remains subdued, it represents an improvement from 2025, when monthly job growth averaged fewer than 10,000 positions, the weakest pace outside a recession si
Employment
Australia's unemployment rate rises to 4.5%
Australia's unemployment rate rose to 4.5% in July, exceeding market expectations, as employment declined and the number of unemployed people increased. The seasonally adjusted unemployment rate climbed from 4.4% in June according to fresh data from the Australian Bureau of Statistics (ABS), above expectations for the rate to remain unchanged.Credit: ABSThe number of employed people fell by 15,800 in July, driven by a sharp decline in part-time employment, while unemployment increased by 4,200 people. Sean Crick, ABS head of labour statistics, said: “In July, we recorded a 16,000 person fall in employment, whilst the number of unemployed people rose by 4,000. “The majority of the fall in employment came from males, which fell by 11,000 people. There were 10,000 fewer males employed part-time, and 1,000 fewer in full-time employment in July. “Female employment recorded a smaller fall of 5,000, with females employed part-time falling by 22,000 but full-time rising by 17,000.” “There were 12 million less hours worked this month, with those employed full-time working 7 million less hours, and those employed part-time working 5 million less hours”, Mr Crick said. New South Wales and Western Australia were the main con
Employment
US nonfarm payrolls fall in July
The United States economy unexpectedly shed jobs in July, while previously reported employment gains for the prior two months were revised sharply lower, reducing expectations of a Federal Reserve interest rate hike next month. Nonfarm payrolls fell by 23,000 last month, the Labor Department's Bureau of Labor Statistics said. Economists had expected payrolls to increase by 80,000, following a previously reported gain of 57,000 in June. The unemployment rate fell to 4.1% from 4.2% in June, but the decline was driven by 264,000 people leaving the labour force. The participation rate consequently fell to a near five-and-a-half-year low of 61.4%, weighing on hiring. The latest data also showed the economy added 103,000 fewer jobs in May and June than previously estimated. Much of July's payroll decline was concentrated in local government education, where employment fell by 49,600, the largest decline since October 2021. This contributed to a 53,000 decline in total government payrolls. Excluding government employment, private payrolls increased by 30,000, matching June's gain. Private-sector job growth has averaged 72,000 per month this year, leading some economists to argue that it provides a better indication of l

Employment
ADP: US private hiring slows in July
Private sector hiring slowed in July, with employers adding fewer workers than expected as job growth remained concentrated in healthcare, according to payroll processor ADP. Private companies added a seasonally adjusted 44,000 jobs during the month, down from a downwardly revised 95,000 in June and well below economists' expectations for 75,000 new positions. The services sector accounted for all of the net employment gains, adding 47,000 jobs, while goods-producing industries shed 3,000 positions. Healthcare and education services led hiring with 36,000 new jobs, continuing the sector's long-standing role as the largest contributor to employment growth. Financial activities added 10,000 positions, professional and business services gained 9,000, while other services increased by 6,000. Elsewhere, trade, transportation and utilities lost 8,000 jobs, while natural resources and mining declined by 6,000. Manufacturing added 2,000 jobs and construction contributed 1,000. Hiring was relatively balanced across business sizes, with firms employing fewer than 50 people leading the way by adding 23,000 positions. Annual pay growth for workers who remained in their current jobs held steady at 4.4%, while employees changi
Employment
US job openings fall in June as hiring picks up
United States job openings declined in June, driven by a sharp drop in vacancies across the healthcare and social assistance sector, while stronger hiring and steady layoffs pointed to a labour market that remained resilient. The number of available positions, a key measure of labour demand, fell by 178,000 to 7.359 million at the end of June, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday. Economists had expected 7.4 million job openings during the month. Job openings increased in transportation, warehousing and utilities, rising by 97,000, while federal government vacancies climbed by 39,000. Offsetting those gains, openings declined by 74,000 in wholesale trade, 55,000 in non-durable goods manufacturing and 9,000 in mining and logging. The healthcare and social assistance sector recorded the largest decline, with job openings falling by 147,000. The report comes after the U.S. Federal Reserve last week left its benchmark interest rate unchanged at 3.50% to 3.75%, although three policymakers dissented in favour of a 25-basis-point rate increase. The job openings rate eased to 4.4% in June from 4.5% in May. Hiring increased by 96,000 to 5.348 million
Employment
US jobless claims hit lowest level since 1969
The number of Americans filing new applications for unemployment benefits unexpectedly fell last week to its lowest level in more than five decades, underscoring the resilience of the United States labour market and reinforcing expectations that the Federal Reserve will remain focused on tackling inflation. Initial claims for state unemployment benefits dropped by 22,000 to a seasonally adjusted 187,000 in the week ended 18 July, according to data released by the Labor Department on Thursday. The decline, the largest in three months, pushed claims to their lowest level since September 1969. Economists had expected initial claims to rise to 212,000, making the latest reading a significant upside surprise. The report covered the survey period used for July's nonfarm payrolls report, due in about two weeks, and added to evidence that the U.S. labour market remains on solid footing despite elevated borrowing costs. Continuing claims, which measure the number of people receiving unemployment benefits for more than one week and serve as a proxy for hiring conditions, fell to a six-week low of 1.796 million in the week ended 11 July. The latest data follows June's employment report, which showed the unemployment rate un
Employment
Australia jobs surge strengthens rate hike case
Australian employment jumped by more than expected in June while the unemployment rate remained steady, signalling continued resilience in the labour market and strengthening expectations that the Reserve Bank of Australia may need to keep interest rates higher for longer. The seasonally adjusted unemployment rate held at 4.4% in June, according to data released by the Australian Bureau of Statistics (ABS), matching market expectations. Employment increased by 76,300 people during the month, the strongest gain since April last year and far exceeding market forecasts for a 15,000 increase.Credit: Australian Bureau of StatisticsThe rise was driven largely by part-time employment, which increased by 47,000 people. ABS head of labour statistics Sean Crick noted: “In June, we recorded a 76,000 person rise in employment, driven by a 47,000 person rise in part-time employment. “Part of the growth in employment this month came from those who were waiting to start a job in May. This represents a stronger June movement than has been observed in recent years." He added that employment conditions remained elevated compared with recent months. “We also continued to see higher numbers of people remaining employed this June,