News

US Unemployment Rate Falls to 1-Year Low of 6%
The US unemployment rate fell to 6 percent in March of 2021 from 6.2 percent in the previous month, the lowest rate in a year and in line with market expectations. The rate has been falling steadily in recent months after reaching an all-time high of 14.8 percent in April last year but many believe it has been understated by people misclassifying themselves as being “employed but absent from work”. The number of unemployed people fell by 262 thousand to 9.710 million while the number of employed rose by 609 thousand to 150.85 million. The labor force participation rate edged up to a 3-month high of 61.5 percent from 61.4 percent. Fed Chair Powell recently said the participation rate is seen expanding and holding the unemployment rate up which would be a highly desirable outcome.
Published on 2021-04-02

US Jobless Rate Seen Falling to 6%
The US unemployment rate is expected to fall to 6 percent in March of 2021 from 6.2 percent in February. The rate has been falling steady in recent months after reaching an all-time high of 14.8 percent in April last year but many believe it has been understated by people misclassifying themselves as being “employed but absent from work.” Traders will also monitor any changes in the participation rate and the average earnings growth, which could provide an insight into whether lower-income workers are returning to the labor market. Fed Chair Powell recently said the participation rate is seen expanding and holding unemployment rate up which would be a highly desirable outcome. The Federal Reserve sees unemployment rate at 4.5% this year and at 3.9% in 2022.
Published on 2021-04-02

US Unemployment Rate Falls Unexpectedly
The US unemployment rate edged down to 6.2 percent in February 2021, the lowest rate since April's record high of 14.8 percent and below market expectations of 6.3 percent. Still, the jobless rate remained well above pre-pandemic levels. The number of unemployed people fell by 158 thousand to 9.97 million, dropping below the 10 million mark for the first time since March 2020, while the number of employed rose by 208 thousand to 150.24 million. The labor force participation rate, however, was unchanged at 61.4 percent, 1.9 percentage points lower than the value a year earlier; while the employment rate was up to 57.6 percent from 57.5 in January.
Published on 2021-03-05

US Jobless Rate Seen at 6.3% in February
The US unemployment rate is expected to hold steady at 6.3 percent in February 2021, down from an all-time high of 14.8 percent seen in April last year but remaining well above pre-pandemic levels. The rate has been falling in recent months, but many believe it has been understated by people misclassifying themselves as being “employed but absent from work.” Traders will also monitor any changes in the participation rate and the average earnings growth, which could provide an insight into whether lower-income workers are returning to the labor market. Looking ahead, the pace of job creation is seen gathering steam in the spring and through summer, helped by quickening vaccination rates and additional stimulus from the government.
Published on 2021-03-05

US Unemployment Rate Falls Unexpectedly in January
The US unemployment rate dropped to 6.3 percent in January 2021, down 0.4 percentage point from the previous month and well below market expectations of 6.7 percent, as the number of unemployed persons decreased to 10.1 million. Although both measures were much lower than their April 2020 highs, they remained well above their pre-pandemic levels in February 2020 (3.5 percent and 5.7 million, respectively).
Published on 2021-02-05

US Jobless Rate Seen at 6.7% in January
The US unemployment rate is seen unchanged at 6.7 percent in January 2021, adding to signs of a slowdown in the labor market recovery amid a lack of fiscal stimulus and record COVID-19 infections that prompted many US states to impose restrictive measures to respond to the outbreak. The jobless rate has slowed from an all-time high of 14.8 percent seen in April last year, but remains well above pre-pandemic levels of about 3.5 percent.
Published on 2021-02-05

US Jobless Rate Remains Well Above Pre-Pandemic Levels
The US unemployment rate was unchanged at 6.7 percent in December 2020, compared with market expectations of 6.8 percent and well above pre-pandemic levels of about 3.5 percent. The latest reading pointed to a stagnation in the labor market recovery, amid a lack of fiscal stimulus and record COVID-19 infections that prompted many US states to impose restrictive measures to respond to the outbreak.
Published on 2021-01-08

US Jobless Rate Seen at 6.8% in December
The US unemployment rate is seen picking up to 6.8 percent in December 2020, from 6.7 percent in the previous month and well above pre-pandemic levels of about 3.5 percent. The labor market recovery slowed amid a lack of fiscal stimulus and record COVID-19 infections that prompted many US states to impose restrictive measures to respond to the outbreak.
Published on 2021-01-08

US Jobless Rate Falls to 6.7% in November
The US unemployment rate edged down to 6.7 percent in November 2020, from the previous month's 6.9 percent and compared with market expectations of 6.8 percent, as fewer people looked for work. The number of unemployed persons fell by 326 thousand to 10.7 million and the employment level declined by 74 thousand to 149.7 million. The labor force participation rate edged down to 61.5 percent in November, 1.9 percentage points below its February level. The employment-population ratio was little-changed at 57.3 percent, 3.8 percentage points lower than in February.
Published on 2020-12-04

US Jobless Rate Seen at 6.8% in November
The US unemployment rate is seen easing to 6.8 percent in November 2020, little-changed from October's 6.9 percent, a number that has been biased down by people misclassifying themselves as being “employed but absent from work.” November's jobless rate would compare with an all-time high of 14.7 percent hit in April but would still remain well above pre-pandemic levels of about 3.5 percent, as the labor market recovery from COVID-19 shock showed signs of slowing amid a lack of fiscal stimulus and spiraling new coronavirus infections.
Published on 2020-12-04

US Jobless Rate Falls More than Expected
The US unemployment rate dropped to 6.9 percent in October 2020, from the previous month's 7.9 percent and compared with market expectations of 7.7 percent, as the number of unemployed persons fell by 1.5 million to 11.1 million and the employment rose by 2.2 million to 149.8 million. Still, the jobless rate remained well above pre-pandemic levels of about 3.5 percent, as the labor market recovery from COVID-19 shock showed signs of slowing amid a lack of fiscal stimulus and spiraling new coronavirus infections.
Published on 2020-11-06

US Jobless Rate Seen at 7.7% in October
The US unemployment rate is seen falling to 7.7 percent in October 2020, little-changed from September's 7.9 percent, a number that has been biased down by people misclassifying themselves as being “employed but absent from work.” October's jobless rate would compare with an all-time high of 14.7 percent hit in April but would still remain well above pre-pandemic levels of about 3.5 percent, as the labor market recovery from COVID-19 shock showed signs of slowing amid a lack of fiscal stimulus and spiraling new coronavirus infections.
Published on 2020-11-06

US Jobless Rate Falls More than Expected
The US unemployment rate declined to 7.9 percent in September 2020 from 8.4 percent in the previous month and below market expectations of 8.2 percent, as fewer people were looking for jobs. The labor force dropped by 0.7 million to 160.1 million, with the number of unemployed persons falling by 1.0 million to 12.6 million and employment rising by just 0.3 million to 147.5 million. The jobless rate remained well above pre-pandemic levels as the recovery from COVID-19 shock showed signs of slowing amid diminishing government stimulus and a spike in new cases.
Published on 2020-10-02

US Jobless Rate Seen at 8.2% in September
The US unemployment rate is seen falling to 8.2 percent in September 2020, little-changed from August's 8.4 percent and compared to an all-time high of 14.7 percent hit in April. Still, the jobless rate will be more than twice 3.5 percent reported in February before the pandemic started as the recovery from COVID-19 shock showed signs of slowing amid diminishing government stimulus and a spike in new cases. The US employment report will be the last before the November presidential election.
Published on 2020-10-02

US Jobless Rate Drops More than Expected
The US unemployment rate fell to 8.4 percent in August of 2020 from 10.2 percent in the previous month, below market expectations of 9.8 percent, and marking the 4th straight decline after April's all-time high of 14.7 percent. The number of unemployed persons dropped by 2.8 million to 13.6 million, as many businesses continued to rehire employees following coronavirus lockdowns. Still, the jobless rate remains well above 3.5 percent in February, before the pandemic hit but lower than the 2008/2009 Global Financial Crisis peak of 10 percent. Official figures still may be far off the reality as many people are being classified as employed even though they are absent from work.
Published on 2020-09-04

US Unemployment Rate Seen Falling to 9.8%
The unemployment rate in the US is seen falling to 9.8 percent in August of 2020 from 10.2 percent in July, which would mark the 4th straight decline after hitting 14.7 percent in April. Still, the jobless rate would remain well above 3.5 percent in February, before the coronavirus hit and only slightly lower the 2008/2009 financial crisis peak of 10 percent. The pandemic is far from controlled and many companies have not extended its labour force yet with workers being recalled from furloughs or temporary layoffs. Also, companies including United Airlines, American Airlines and Ford announced plans to furlough or cut jobs.
Published on 2020-09-04

US Jobless Rate Falls More than Expected
The US unemployment rate dropped to 10.2 percent in July of 2020 from 11.1 percent in June and below market expectations of 10.5 percent, as many businesses continued to reopen and rehire employees following COVID-19 lockdowns. The number of unemployed persons fell by 1.4 million to 16.3 million. However, the jobless rate remains above the Global Financial Crisis peak of 10.0%, and more than double than February’s 3.5% before the spread of the pandemic in the US. Official figures still may be far off the reality as many people are being classified as employed even though they are absent from work.
Published on 2020-08-07

US Jobless Rate Expected to Drop to 10.5%
The unemployment rate in the US is expected to fall to 10.5 percent in July of 2020 from 11.1 percent in June as many businesses continued to reopen and rehire employees following COVID-19 lockdowns. However, the jobless rate would be above the Global Financial Crisis peak of 10.0%, and more than double than February’s 3.5% before the spread of the pandemic in the US. Official figures still may be far off the reality as many people are being classified as employed even though they are absent from work.
Published on 2020-08-07

US Jobless Rate Falls More than Expected
The US unemployment rate dropped to 11.1 percent in June 2020, easing further from an all-time high of 14.7 percent reached in April and remaining below market expectations of 12.3 percent, as many people returned to the labor market following weeks of coronavirus-induced restrictions. The number of unemployed persons fell by 3.2 million to 17.8 million, while employment rose by 4.9 million to 142.2 million. Although unemployment fell in May and June, the jobless rate and the number of unemployed are up by 7.6 percentage points and 12.0 million, respectively, since February.
Published on 2020-07-02

US Jobless Rate Expected to Fall to 12.3%
The unemployment rate in the US is expected to fall to 12.3 percent in June of 2020 from 13.3 percent in May and a record high of 14.7 percent in April as many businesses reponed after weeks of COVID-19 lockdowns. Still, official figures may be far off the reality as many people are being classified as employed even though they are absent from work. It is estimated that considering absent from work as unemployed, the jobless rate would reach 16.3 percent in May and 19.7 percent in April.
Published on 2020-07-02