U.S. employers added 263,000 jobs in November as hiring remained sturdy. The unemployment rate held steady at 3.7% but the labor force participation rate edged down to 62.1%, leaving it well below the pre-pandemic level of 63.4%.—USA Today
Category: MAT3
Monitoring Macroeconomic Performance
Keywords: GDP, Real GDP, Employment, Unemployment, Natural unemployment, Full employment, Price level, Inflation rate
Parkin 14e Chapters 4, 5
Bade-Parkin 9e Chapters 5, 6, 7
Parkin-Bade Canada 11e Chapters 4, 5
Parkin-Bade Australia 2e Chapters 5, 6, 7
Parkin-Powell-Matthews 11e Chapters 20, 21
June Inflation Soared 9.1 Percent Amid Spiking Gas Prices
Inflation soared to 9.1 percent in June. Driving the stunning jump was the energy index, which contributed nearly half of the overall increase in inflation.—washingtonpost.com
Payrolls Increased 372,000 in June
Nonfarm payrolls increased 372,000 in June. The official unemployment rate was 3.6%, unchanged from May. An alternative measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons fell sharply, dropping to 6.7% from 7.1%.—cnbc.com
Unemployment Rate Stays Steady at Pandemic Low of 3.6 Percent
The Labor Department reported that U.S. employers added 390,000 jobs in May. The unemployment rate remained unchanged at 3.6 percent. Millions of Americans continue to quit or switch jobs each month in search of higher pay or better conditions.—washingtonpost.com
The War in Ukraine Has Devastated Local Designers
Support by Design is encouraging U.S. design firms to hire Ukrainians to work remotely from Ukraine. Site Design Group, a landscape architecture and urban design firm in Chicago, has hired an entire Ukraine-based firm of 24 people to work on its projects.—fastcompany.com
Economy Shrinks 1.4% in First 3 Months of Year, Raising Recession Fear
Among the factors dragging down the economy at the beginning of 2022 were a fall in retailers’ inventory purchases and a growing trade gap. Consumer spending remained solid.—washingtonpost.com