Tag: economy

January 20, 2021

Economists Predict Sharp Slowdown Before Outlook Brightens Considerably

Economists Predict Sharp Slowdown Before Outlook Brightens Considerably

BY EMEL AKAN January 14, 2021 Updated: January 14, 2021 WASHINGTON—Economists are forecasting a strong recovery this year but warn of a sharp drop in economic activity in the first quarter before it builds momentum following the winter. The U.S. economy will grow at 3.9 percent over the four quarters of 2021, according to the latest estimates by theRead More

September 15, 2020

National Staffing Employee Week starts today

National Staffing Employee Week starts today

Released on September 14, 2020 Today marks the start of National Staffing Employee Week. The week is promoted by the American Staffing Association and aims to enable staffing firms to celebrate the contributions of the millions of contingent workers employed through them. “Staffing companies have played an integral part in economic recovery over the years,Read More

August 31, 2020

GDP growth in Q2 gets slight upward revision, still biggest decline on record

GDP growth in Q2 gets slight upward revision, still biggest decline on record

Released on August 27, 2020 US gross domestic product decreased by slightly less than initially thought in the second quarter, but it remains in a historic decline, according to a new “second” estimate released today by the US Bureau of Economic Analysis. The new estimate is that GDP fell at an annual rate of 31.7%Read More
Consumer confidence falls for second month in row, more downbeat on jobs picture

Consumer confidence falls for second month in row, more downbeat on jobs picture

Released on August 25, 2020 The Conference Board Consumer Confidence Index fell for the second month in a row in August as consumers remain concerned about the outlook ahead. “Consumer spending has rebounded in recent months but increasing concerns amongst consumers about the economic outlook and their financial well-being will likely cause spending to coolRead More

August 7, 2020

US job growth slows in July, employment rises by just 167,000

US job growth slows in July, employment rises by just 167,000

Released on August 5, 2020 The US added 167,000 private sector jobs in July compared to the previous month, but the growth was below the employment increases seen in May and June, according to the ADP National Employment Report. ADP’s report had logged increases of 4.3 million jobs month-over-month in June and 3.3 million inRead More
Jobless claims down to approximately 1.2 million, new low for pandemic

Jobless claims down to approximately 1.2 million, new low for pandemic

Released on August 6, 2020 US jobless claims fell by nearly a quarter million last week to 1.19 million; it was the lowest level for the pandemic, MarketWatch reported. Economists polled by the news agency had expected 1.4 million claims for unemployment insurance. However, it noted that new jobs added in July to be just aRead More

July 27, 2020

Wages rise 6% in Q2 as pandemic hits less-tenured and lower-paid workers

Wages rise 6% in Q2 as pandemic hits less-tenured and lower-paid workers

Released on July 22, 2020 US workers’ wages rose to 6.0% to $30.25 per hour in the second quarter, according to the ADP Research Institute’s Workforce Vitality Report released today. On the other hand, job growth decelerated 10.2% from the first quarter. Year-over-year wage growth across all workers spiked in the second quarter as a result ofRead More
US leading index rises in June but still points to recession

US leading index rises in June but still points to recession

Released on July 23, 2020 The Conference Board Leading Economic Index for the US improved in June for the second consecutive month; however, the economic outlook remains weak. The index rose 2.0% in June to a reading of 102.0; this follows an increase of 3.2% in May and a decline of 6.3% in April. “TheRead More

March 12, 2020

Employment Summary for February 2020

Employment Summary for February 2020

February was a big month for hiring, according to the latest Bureau of Labor Statistics report. In fact, employment had such a strong surge that the U.S. posted the best jobs numbers since May 2018, according to Bloomberg. “Payrolls rose 273,000 after the prior month was revised up to also reflect a 273,000 gain, accordingRead More