For the first time in history, the U.S. Labor Department will miss releasing its key employment report for a second consecutive month, as the ongoing government shutdown stretches into its second month, the longest ever recorded. The data blackout has left economists, investors, and policymakers struggling to gauge the true state of the American economy. …
By Esther Ososanya U.S. job growth slowed sharply in July, with nonfarm payrolls increasing by just 73,000 jobs, well below the 110,000 forecasted by economists polled by Reuters. The shortfall is even more concerning when paired with a sharp downward revision of June’s data, which now shows only 14,000 jobs were added that month, compared to the previously reported …
By Esther Ososanya The number of Americans applying for new unemployment benefits fell unexpectedly last week, providing fresh evidence that the U.S. labour market remains resilient, even as job growth cools and businesses grow more hesitant about hiring. Initial jobless claims dropped by 4,000 to a seasonally adjusted 217,000 for the week ending July 19, …
