US job openings tick up to 8 million in August as labor market continues to show resilience
WASHINGTON (AP) — US job openings tick up to 8 million in August as labor market continues to show resilience.
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Yahoo FinanceStock market today: Dow gains 300 points, stocks recoup weekly losses after jobs report blowout
Investors braced for a key monthly jobs report, with the Middle East crisis and a return to work at US ports also in high focus.
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US jobs report crushes expectations as economy adds 254,000 jobs, unemployment rate falls to 4.1%
The September jobs report comes as investors debate whether the labor market is cooling quickly enough that the Federal Reserve will opt for a larger interest rate cut in November.
- Associated Press Finance
US adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market
The latest figures suggest that many companies are still confident enough to fill jobs despite the continued pressure of high interest rates. In an encouraging sign, the Labor Department also revised up its estimate of job growth in July and August by a combined 72,000. “There’s still more momentum than we had given it credit for," Stephen Stanley, chief economist at the banking company Santander, said of the job market.
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Blowout US employment report reinforces economy's resilience
WASHINGTON (Reuters) -U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not need the Federal Reserve to deliver large interest rate cuts for the rest of this year. In addition to the bigger-than-expected increase in nonfarm payrolls reported by the Labor Department on Friday, wages rose at a solid pace last month. The closely watched employment report also showed the economy added 72,000 more jobs in July and August than previously estimated.
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Stock Futures Remain Lower After Claims Data
Stocks had a fairly muted response to the latest labor market data, which did little to shift the narrative on rate cuts, as the ongoing conflict in the Middle East continued to weigh on risk appetite. U.S. jobless claims, gauging the initial claims for unemployment insurance under state programs, came in at 225,000 in the week ending Sept. 28 versus estimates of 221,000 and higher than the week prior. Although the data indicate that the labor market is facing pressure, it hasn’t significantly shifted the current narrative.
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US economy adds far more jobs than anticipated in September
Investing.com -- US employment growth was far stronger than expected in September, while the jobless rate slowed from the prior month's level, denting bets for another jumbo interest rate reduction by the Federal Reserve at its last two meetings of the year.
- Reuters
US labor market on firmer ground as Hurricane Helene, strike distortions loom
WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits increased marginally last week, but the devastation unleashed by Hurricane Helene in the U.S. Southeast and strikes at Boeing and ports could distort the labor market picture in the near-term. The report from the Labor Department on Thursday showed the labor market gliding at the end of the third quarter, a state of affairs that could allow the Federal Reserve to be in no rush to deliver large interest rate cuts. The economy also ended the third quarter on solid footing, with another report showing services sector activity rose to the highest level in just over 1-1/2 years in September amid strong growth in new orders.
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Friday’s jobs report could be the last normal one for a while
September’s jobs report, due out Friday morning, is expected to show that the US labor market has slowed somewhat but remains on solid footing.
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US jobless claims tick up ahead of September's jobs report
Initial jobless claims for the week ending in September 28 showed more Americans filed for unemployment benefits than anticipated. The figure came in at 225,000, slightly above the estimated 221,000. This report comes ahead of September's jobs report, which could trigger a sell-off for US markets (^DJI,^GSPC, ^IXIC) as investors grow increasingly concerned about a slowing economy. However, Goldman Sachs remains bullish on the S&P 500. Analyst Scott Rubner's latest note reveals that his 6,000 year-end target for the index might actually be "too low." Rubner is bullish on US equities heading into the year end, and anticipates a rally to start on October 28. He highlights seasonal tailwinds in the market, noting that the S&P 500 tends to rally about 4% on average from October 27 through the year-end. In addition, stocks tend to advance after US presidential elections as investors rotate out of cash and into equities. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
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