The U.S. economy added 206,000 jobs in June, surpassing expectations. Despite this growth, the unemployment rate increased from 4% last month to 4.1%, the highest since October 2021. While we saw strong job gains in the government (70,000) and healthcare (49,000) sectors, several sectors experienced declines in new jobs, such as professional and business services (-17,000) and retail (-9,000). The Federal Reserve continues to monitor these developments as it weighs its next moves on monetary policy. With the labor market showing strength, significant rate cuts may be delayed. For more detailed insights and to understand how these changes could impact your strategic hiring goals, contact us for a consultation. As a trusted advisor for many of our clients, we're here to help you navigate the evolving job market and position your company for success. #JobsReport #LaborMarketUpdate #EmploymentTrends #EconomicUpdate #PhytonTalentAdvisors
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A red-hot job market throws shade on March rate cuts. With an impressive 353,000 jobs added in January - double the predictions - it challenges the probability of immediate rate cuts. Insights from the January FOMC meeting suggest that the market might be too heated for rate reductions, propelling investor confidence and driving the S&P 500 to new heights. Powell's emphasis on economic strength and remarks on the job juggernaut prolong expectations, holding the target rate at 5.25-5.50%. It seems the market will likely wait until at least April/May for the first rate cut. Opinions? Economy: The robust job surge implies substantial growth; hence, potentially deferring the need for rate cuts. Markets: Signals are mixed; the S&P 500 soars, but smaller companies may feel the heat. Consumers: Job growth typically means increased spending power, but watch out for potential inflation concerns. Share your insights below! #JobSurge #MonetaryPolicy #RateCuts #MarketWatch
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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Economist expectations were shattered as the BLS released the first jobs report of the year. 353k jobs were added overall and unemployment stayed put at 3.7% (staying under 4% for the 24th consecutive month and nearing a 50 year low). Analysts had predicted 175k job additions with a slight uptick in unemployment. The report comes as a bit of shock to the market as we typically see more job losses this time of year due to seasonal workers exiting the workforce after the holidays. Additionally, the newest JOLTS report shows workers are voluntarily leaving their jobs at the lowest rate since the fall of 2020, showing the hiring frenzy of recent years has leveled out, and there are fewer open jobs. But, for many organizations, this actually means prioritizing hiring of professionals with high-level skill sets and creating roles in STEM as their focus on digital transformation, innovation, and AI/Automation remain at the forefront. Our industries are making a big impact with job additions in January. Here are some key highlights from this morning’s report: 353K total jobs added 2K marketing jobs added The January jobs report shows that labor demand, especially for STEM specialists, is expected to remain solid, with Americans employed and enjoying strong wage growth. America's job market remains shockingly robust in the face of the highest interest rates in 23 years. And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
Madison Black on LinkedIn: Economist expectations were shattered as the BLS released the first jobs…
cvsoci.al
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