US Economy Adds 311,000 Jobs in February, Unemployment Rate Rises to 3.6%, Fed Poised for Rate Hike
The U.S. economy added 311,000 jobs in February, according to the Labor Department’s closely watched monthly employment snapshot released Friday.[0] The figure was well above projections of 205,000, and compared with a downwardly-revised gain of 504,000 in January.[1] January’s unemployment rate increased slightly to 3.6%, from its 53-year low of 3.4%, with the number of […]
Continue reading Silicon Valley Bank Collapse Sparks Panic in Financial Markets
Silicon Valley Bank (SVB) suddenly collapsed this week after the bank announced it had incurred a $1.8 billion loss due to a $21 billion fire sale of its bond portfolio.[0] The bank’s share price plummeted over 60% to $106.04 on Thursday, triggering a bank run and forcing the Federal Deposit Insurance Corporation (FDIC) to step […]
Continue reading UK Economy Inches Along – GDP Grows 0.3% in January
The UK economy grew by 0.3% in January, according to data released by the Office for National Statistics (ONS).[0] This follows a 0.5% contraction in December and marks the first growth in GDP since October 2022.[1] While the figures provide a temporary respite from the period of stagnation, there are still lingering doubts over the […]
Continue reading SVB Financial Group Sees Stock Plunge Amid Banking Crisis Fears
SVB Financial Group, the parent company of Silicon Valley Bank, saw its stock plunge 60% on Thursday after revealing a $1.8 billion loss from selling its investments, and announcing it would raise $2.25 billion in capital.[0] This has sparked fears of a wider banking crisis, and the 10-year Treasury yield has dropped 5 basis points […]
Continue reading U.S. Economy Adds 311,000 Jobs in February – Will Consumer Price Index Reveal Inflation Data?
The U.S. economy added 311,000 jobs in February, according to data released Friday by the Labor Department.[0] This exceeded expectations of 205,000 jobs and continues a hot hiring streak that has underpinned the tight labor market.[0] The unemployment rate increased to 3.6%, surpassing the estimate of 3.4%, while the labor force participation rate rose slightly […]
Continue reading US Economy Adds 311K Jobs in February, Unemployment Rate Rises to 3.6%
The U.S. economy added 311,000 new jobs in February, according to the Labor Department’s closely watched monthly employment snapshot, released Friday.[0] The unemployment rate rose to 3.6 percent, above the expectation for 3.4 percent, amid a tick higher in the labor force participation rate to 62.5%, its highest level since March 2020. The Bureau of […]
Continue reading US Economy Adds 311,000 Jobs in February, Unemployment Rate Rises to 3.6%
The US economy added 311,000 jobs in February, outpacing expectations and exceeding the 205,000 jobs forecasted by economists surveyed by Bloomberg.[0] The rate of unemployment increased to 3.6%, surpassing the anticipated 3.4%, as the labor force participation rate rose slightly to 62.5%, its highest point since March 2020.[1] Leisure and hospitality led the way in […]
Continue reading U.S. Unemployment Rate Rises Despite Job Growth and Low Layoffs
U.S. unemployment rate rose to 3.6% in February, according to data released Thursday by the U.S. Bureau of Labor Statistics.[0] The report indicated that the country added 311,000 jobs in February, far more than the 225,000 expected.[0] Despite this, the number of unemployed people increased to 5.9 million.[1] Initial jobless claims, a measure of layoffs, […]
Continue reading US Economy Adds 311K Jobs in February, Unemployment Rate Ticks Up
On Friday, the Labor Department reported that the U.S. economy had gained 311,000 jobs in February, maintaining the current vigorous pace of hiring which has been a major contributor to the nation’s closely-balanced labor market.[0] This reading came in much higher than the market expectation of 205,000, but represented a deceleration from the unusually strong […]
Continue reading January Job Openings Remain Strong Despite Minor Dip
Refinitiv predicted a net increase of 205,000 jobs in February with an unemployment rate of 3.4%, as anticipated by economists.[0] Economists on Wall Street predict that the employment report for February will display an addition of 220,000 jobs.[1] Despite the 517,000 jobs added in January, even if there were to be a significant decrease of […]
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