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80 matches for " job losses":
The drop in jobless claims to 3,839K in the week ended April 25, from 4,442K in the previous week, leaves the data still terrible, but markedly less terrible than at the 6,867K peak in late March.
On balance, yesterday's labour market statistics were better than we had expected.
We remain concerned that huge job losses are imminent, slowing the economic recovery after a mid-summer spurt.
Tuesday's labour market report looks set to show that job losses continued to accumulate over the autumn, albeit at a measured pace.
Today's March ADP employment report likely will catch the leading edge of the wave of job losses triggered by the coronavirus.
Japan's jobless rate was unchanged, at 2.4% in October, as the market took a breather after September's job losses.
• U.S. - Collapsing confidence and mass job losses continue, but not forever. • U.K. - The lockdown is starting to work, but the next steps aren't clear. • ASIA - Positive signs as Chinese money supply and loan growth jump. • LATAM - The real hit from the virus is yet to come.
he services sector is seeing "job losses that will not be quickly recovered," says Ian Shepherdson, chief economist at Pantheon Macroeconomics, as he examines the impact of the coronavirus pandemic on the U.S. labor market. He speaks with Bloomberg's Francine Lacqua on "Bloomberg Surveillance."
Don't be alarmed by the second straight jump in consumers' inflation expectations, captured by the Conference Board's May survey, reported yesterday.
The speculation is over: 3.283 million people filed a new claim for unemployment benefits last week, nearly double the 1.7M consensus forecast, which looked much too low.
Beyond the immediate wild swings in prices for food, clothing, hotel rooms and airline fares, the medium-term impact of the Covid outbreak on U.S. inflation will depend substantially on the impact on the pace of wage growth.
Today's payroll number is completely irrelevant, because 97% of the 10.2M increase--so far--in initial jobless claims from their pre-coronavirus level came after the employment survey was conducted, between Sunday March 8 and Saturday March 14.
The Fed's statement yesterday was unsurprising, acknowledging a "sharp" decline in economic activity and a significant tightening of financial conditions, which has "impaired the flow of credit to U.S. households and businesses."
China's economic targets are AWOL this year, thanks to Covid-19 disruptions to the legislative calendar... and because policymakers seem unsure of what targets to set in such uncertain times.
We're assuming that Chair Powell will offer at least some comment on the current state of the economy and the outlook in his virtual Jackson Hole speech at 09:10 Eastern time this morning, though the main focus of the presentation will be the results of the Fed's Monetary Policy Framework Review.
Sterling yesterday clawed back some of the ground it lost earlier this month, when the government put forward the controversial Internal Markets Bill.
We have been bullish about the housing market for some time now--since Google searches for "new homes" and mortgage demand began to pick up, in late April--but we might not have been bullish enough.
The rate of growth of new coronavirus infections across Europe slowed yesterday, in some cases quite markedly. We can quibble about the reliability of the data in individual countries, given variations in testing regimes, but the picture is strikingly uniform.
Hot on the heels of yesterday's grim-looking-- temporarily--existing home sales numbers for May, we see upside risk for today's new sales data.
Yesterday's August PMI data in the euro area ran counter to the otherwise gloomy signals from the ZEW and Sentix investor sentiment indices.
Economists' forecasts are changing almost as quickly as market prices these days, and not for the better.
Both business surveys and unconventional activity indicators suggest that the recovery from the Covid-19 shock has sped up in June, after a shaky start in May.
The huge drop in the March Markit services PMI, reported yesterday, and the modest dip in the manufacturing index, are the first national business survey data to capture the impact of the Covid-19 outbreak.
The economic downturn and the Chancellor's unprecedented fiscal measures mean that public borrowing likely will be about four times higher, in the forthcoming fiscal year, than anticipated in the Budget just over two weeks ago.
If Japan's flash PMIs for March are a sign of things to come, then the government really should get moving on fiscal stimulus.
The continued gradual rise in new confirmed cases of Covid-19 lends more weight to the idea that the economy already has reopened as much as possible while containing the virus.
Emerging evidence suggests that the economy has passed the period of peak Covid-19 pain.
A range of indicators show that the pace of the economic recovery shifted up a gear in July, when all shops were open for the entire month, and most consumer services providers finally were permitted to reopen.
The recent March economic activity reports for Chile have been terrible, showing the first signs of the Covid-19 shock, and worse is to come.
The MPC struck a less dovish tone than markets had anticipated yesterday.
Brazilian industrial production data released last week were upbeat. Output rose 8.0% month-to-month in July, much better than the consensus forecast for a 5.9% increase.
Next week's labour market report likely will show that job cuts accelerated again, after a lull in the summer.
The immediate impact of the Covid-19 crisis on the auto market was calamitous.
Wednesday's industrial production report in Brazil was terrible, despite overshooting market expectations.
Yesterday's data showed that the euro area PMIs were a bit stronger than initially estimated in November.
Today brings only the May existing home sales report, previewed below, so we have an opportunity to look over the latest near-real-time data on economic activity. The picture is mixed.
Under normal circumstances, sustained ISM manufacturing readings around the July level, 54.2, would be consistent with GDP growth of about 2% year-over-year.
August's money and credit report creates a reassuring first impression, though the details are more troubling.
Covid-19 has taken a large and immediate toll on house prices, but bigger damage likely lies ahead.
We are revising down our forecasts for quarteron-quarter GDP growth in Q1 and Q2 to 0.3% and 0.2%, respectively, from 0.4% in both quarters previously, to account for the likely impact of the coronavirus outbreak.
The advance indicators of July payrolls are wildly contradictory, so you should be prepared for anything from a consensus-busting jump to a renewed outright drop, in both Friday's official numbers and today's ADP report.
The economy will endure a sluggish recovery from Covid-19 this year, even if a second wave of the virus is avoided, partly because monetary stimulus is not filtering through powerfully to households.
ADP's measure of private payrolls has undershot the initial official estimate in each of the past five months.
Japan's labour data threw another January curve ball this year--last year it was wages--with a change in the standards for job openings.
Analysis of the economy's potential to recover later this year from extreme weakness in Q2 has focussed largely on the extent to which virus-related restrictions will be lifted.
The 0.1% dip in the core CPI in March was the first outright decline in three years, but we expect another-- and bigger--decline in today's April numbers.
Retailers made hay while the sun shone in August, but clouds now are looming overhead. The 0.8% month-to-month rise in retail sales volumes took them 3.3% above last year's average.
We're bracing for another ugly set of labour market data on Thursday, showing that both employment and earnings fell sharply in May and June.
Yesterday's data provided further evidence of the damage wrought on the EZ at the end of Q1.
We have drawn attention over the past couple of weeks in our daily Coronavirus Update to the rising trend in new cases in some states, mostly in the South.
Hideous though the official April payroll numbers were, the chances are that they'll be revised down.
Data released this week in LatAm are the last calm before the coronavirus storm.
Chile's weak indicators in January confirm that the economy is struggling. Mining output plunged 12.6% year-over-year, down from a modest 0.6% contraction during Q4, due mostly to falling copper production and an unfavourable base effect. This will reverse in February but we still look for a 5% drop.
China's official PMIs for March surprised well to the upside, cheering markets across Asia.
The small upward revision to the level of GDP in Q2 has done little to lift the U .K. economy's recent performance into line with its international peers.
The data calendar is so congested next week that it makes sense to preview Tuesday's labour market report early.
Brazil's recession carried over into the middle of Q2, but with diminishing intensity in some economic sectors.
Last week, while we were taking our spring break at home, markets behaved relatively well in LatAm.
The third quarter ended with a bit of a bang for retailers, with sales rising strongly, even in the woebegone department store sector. The apparent loss of momentum in July and August reversed, with the sector reporting a 9.7% jump in sales.
Chancellor Sunak announced further emergency support measures for the economy on Tuesday and pledged to do more soon.
We aren't much bothered by the one-tenth overshoot in the June core CPI, reported yesterday.
The coronavirus ordeal continues in LatAm as a whole.
The U.K.'s property obsession has been immune to Covid-19, so far.
The labour market was pretty robust before the coronavirus crisis.
The Brazilian economy fell into recession over the first half of the year due to the severity of the Covid shock on domestic demand.
The economy will be a shadow of its former self over the remainder of this year, following the heavy pummelling from Covid-19.
Signs that the economy has been crippled by people's response to the Covid-19 outbreak continued to emerge yesterday.
Headline retail sales in June were just 1% below their January peak, and about 3% below the level they would have reached if the pre-Covid trend had continued.
Korea's unemployment rate rose faster than expected in May, jumping to 4.5%, from 3.8% in April. We've been arguing for some time that the delayed impact of the economic growth slowdown from late- 2017 to early-2019 would eventually push the jobless rate to the mid-4% level this year; the sudden stop caused by Covid-19 merely sped up this process.
The Labour Force Survey continues to understate massively the damage caused by Covid-19.
At first glance, the latest labour market data appear to be contradictory.
While we were out--but not going anywhere--the data broadly were as awful as we expected, though the rate of growth of coronavirus infections in the U.S. and most other developed countries continued to slow.
The bad news on economic activity keeps coming for Brazil. The formal payroll employment report-- CAGED--for December was very weak, with 120K net jobs eliminated, compared to a 40K net destruction in December 2014, according to our seasonal adjustment. The severe downturn has translated into huge job losses. The economy eliminated 1.5 million jobs last year, compared to 152K gains in 2014. Last year's job destruction was the worst since the data series started in 1992. The payroll losses have been broad-based, but manufacturing has been hit very hard, with 606K jobs eliminated, followed by civil construction and services. Since the end of 2014, the crisis has hit one sector after another.
The Chancellor's alterations to the Job Support Scheme--JSS--yesterday were substantial enough to reduce meaningfully the scale of job losses ahead.
• U.S. - Job losses set to breach 10M in just a few weeks. • EUROZONE - Who will pay for the Covid-19 stimulus in the EZ? • U.K. - The private sector's balance sheet is in good shape to take on the lockdown • ASIA - Covid-19 is worse for China than the financial crisis • LATAM - The data supported rate cuts in LatAm even before coronavirus
Total job losses between the March and April payroll survey weeks, as captured by the weekly jobless claims numbers, soared to 26.7M.
In one line: Lockdowns and colossal job losses aren't great for the housing market.
In one line: Further job losses take the shine off the better-than-expected activity reading.
In one line: Further job losses take the shine off the better-than-expected activity reading.
Job losses in the over-60 group pull Korea's unemployment rate higher in December. Japanese M2 growth holds steady in December. Still no clear signs of a recovery in machine tool orders in Japan.
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