Tag: forecast

February 6, 2023

Head-Scratching Job Gains in January: Labor Market Remains Hot

Head-Scratching Job Gains in January: Labor Market Remains Hot

February 3, 2023 | Author: Mallory Vachon, Ph.D., Sr. Economist The economy added an unexpected 517,000 jobs in January, completely smashing economists’ expectations of 187,000. January’s job gains are puzzling given the headlines and expectations of a slowdown in hiring. Not only is this well-above recent months’ job gains, but it’s the highest since JulyRead More

January 9, 2023

Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023

Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023

The unemployment rate edged down to match a half-century low of 3.5% Employers in many sectors were still struggling late in the year to fill open positions, pushing up wages. By David Harrison   The U.S. labor market is losing momentum as hiring and wage growth cooled in December, showing the effects of slower economic growth and theRead More

August 10, 2021

Warehouses are Luring Workers from Other Industries

Warehouses are Luring Workers from Other Industries

An additional 282,470 workers could be needed by Q2 2021. MH&L Staff AUG 05, 2021 Greater demand for warehouse space stemming from a structural shift in supply chain dynamics has led to a highly competitive labor environment in many markets, which COVID-19 has exacerbated. In 2Q 2021, a record 423.7 million square feet of industrialRead More

July 12, 2021

Supply, Talent Shortages Weigh on Manufacturing Growth

Supply, Talent Shortages Weigh on Manufacturing Growth

The manufacturing sector grew last month for the thirteenth month running, albeit at a slightly slower pace than it had in May. The Institute for Supply Management, in its June report on manufacturing business, lowered its manufacturing PMI to 60.6%—above the 50% mark indicating growth, but 0.6 points lower than May’s 61.2% PMI. Results fromRead More

April 20, 2021

Global Steel Demand Recovering in 2021

Global Steel Demand Recovering in 2021

The World Steel Assn. forecasts steel demand growing by 5.8% to 1.87 billion metric tons this year, after a slight decrease in 2020, with an automotive sector rebound among the leading factors. APR 18, 2021 The World Steel Association forecasts that global steel demand will rise 5.8% this year to 1.87 billion metric tons, thenRead More

April 16, 2021

US jobless claims plunge to 576,000, lowest since pandemic

US jobless claims plunge to 576,000, lowest since pandemic

Elyse Russo APR 15, 2021 / 08:02 AM CDT The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession. The Labor Department said Thursday that applications plummeted by 193,000 from a revised 769,000 a weekRead More

April 13, 2021

The economy is on the cusp of a major boom and economists believe it could last

The economy is on the cusp of a major boom and economists believe it could last

PUBLISHED FRI, APR 9 2021 Patti Domm@IN/PATTI-DOMM-9224884/@PATTIDOMM The economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023. Economists now expect the second quarter to grow at a pace of 10%, and growth for 2021 is expected to be north of 6.5%.Read More

March 15, 2021

Survey: 88% of Manufacturers Optimistic about 2021

Survey: 88% of Manufacturers Optimistic about 2021

The National Association of Manufacturers’ quarterly record of manufacturer optimism hit its highest point in two years. IW Staff MAR 09, 2021 Most U.S. manufacturers see clear skies ahead, according to a new survey released by the National Association of Manufacturers. A majority, 87.6% of 450 respondents, of small, medium and large businesses reported feelingRead More

January 26, 2021

76% of US companies say hiring demand will return to pre-pandemic levels this year: Study

76% of US companies say hiring demand will return to pre-pandemic levels this year: Study

Released on January 21, 2021 Hiring demand will approach, return to or exceed pre-pandemic levels this year, according to the 2021 Future of Recruiting Study published by CareerArc, a provider of a social recruiting platform. Of companies surveyed, 76% believe hiring demand will return this year. CareerArc’s survey also discovered that companies are most concernedRead More

January 20, 2021

BLS Employment Situation Report: December 2020

BLS Employment Situation Report: December 2020

Total nonfarm payroll employment in December declined by 140,000 in December, well below the consensus forecast of a job gain of 45,000. The unemployment rate remained unchanged at 6.7 percent or 10.7 million unemployed persons. The Bureau of Labor Statistics (BLS) noted in today’s release that both unemployment measures are much lower than their AprilRead More