(Bloomberg) — Amazon.com Inc. is laying off more than 17,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening, according to the Wall Street Journal. The cuts, which began last year, were previously expected to affect about 10,000 people. The reduction is concentrated in […]
Read MoreMarket conditions are Bullish in a Bear Market as of 2022-12-01. This means traders and investors should consider trading with a Neutral or Bullish bias by buying stocks and setting tight stops. The rank of the Bear Market is -15.74 which indicates the current market conditions are Extreme, Risk of a reversal is high. The […]
Read More(Bloomberg) — The latest US jobs report doused nascent optimism that the American economy was weakening enough to warrant a go-slower approach by the Federal Reserve in its battle against inflation. Hiring topped estimates and wage growth accelerated more than expected last month, upending expectations that had built across Wall Street in recent weeks. Futures […]
Read More(Bloomberg) — The latest reading of the US labor market on Friday is expected to show job growth on more of the downward glide path sought by Federal Reserve policy makers in their fight to beat back inflation. Payrolls are projected to have risen about 200,000 in November, a second month of decelerating gains. Such […]
Read More(Bloomberg) — US companies hired at a solid clip in September, suggesting demand for workers remains healthy despite rising economic uncertainty. Businesses’ payrolls rose 208,000 last month after an upwardly revised 185,000 gain in August, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median forecast in a Bloomberg […]
Read More(Bloomberg) — The bond market is bracing for more turbulence as a crucial reading on the still-tight US labor market is set to give traders a chance to reassess the Federal Reserve’s commitment to its aggressive path of interest-rate hikes. Fed officials underscored their focus on the domestic economy in the past few days, even […]
Read More(Bloomberg) — IBM executives discussed in emails how to force out older workers and derided them as “Dinobabies” who should be made an “Extinct species,” according to a court filing in an age discrimination case against the company. The communications show “highly incriminating animus” against older employees by officials who at the time were in […]
Read MorePresident Joe Biden speaking about the January jobs report. Saul Loeb/AFP/Getty Images Good news for Main Street, not so good news for Wall Street. Once again, a booming labor market is likely to translate to losses in bonds and stocks as the Fed and other major central banks remove the extraordinary stimulus enacted in response […]
Read More(Bloomberg) — Investors may be underestimating the need for “aggressive” monetary tightening from the Federal Reserve and other central banks to combat inflation, resulting in “significant risks” for markets, according to Bridgewater Associates. Following hawkish comments from the Fed Chair Jerome Powell last week, investors have brought forward expectations of tightening, pricing in five quarter-point […]
Read More(Bloomberg) — Jamie Dimon said that, for the first time in his life, there’s “huge pressure” on the U.S. labor market. “The price of labor’s going up, we’re going to have to deal with it,” the JPMorgan Chase & Co. chief executive officer said in an interview on Fox Business that aired Tuesday. Still, Dimon […]
Read MoreJobs growth in manufacturing slowed again in December, adding 26,000 new hires after a consensus estimate of 35,000, despite the overall pandemic-era unemployment rate being at 3.9%. Since the pandemic began, manufacturing companies have brought back nearly 1.2 million jobs out of the 1.4 million jobs lost. In other words, according to the Bureau of […]
Read MoreMost people want to find a job that keeps up with inflation, provides some level of flexibility, but they also want to be happy. After all, most Americans spend at least eight hours a day working — and often without paid time off. It’s the $125,000 question in an increasingly unpredictable labor market: How can […]
Read MoreIllustration by Laurent Duvoux Jobs are plentiful; workers are in short supply. And their scarcity is having far-reaching effects on the labor market. Every student of economics learns the diamond-water paradox—that although water has more intrinsic value for our survival, diamonds command a higher price because of their relative scarcity. Less than two years after […]
Read MoreFedEx (FDX) is getting inundated with job applications in what continues to be a hot U.S. labor market characterized by increased job switchers. “Just the last week, we had 111,000 applications for FedEx. That’s the highest in our history,” said FedEx COO Raj Subramanian on an earnings call Thursday evening. “To put that in context […]
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