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Job Openings and Labor Turnover – January 2024
The number of job openings changed little at 8.9 million on the last business day of January, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively. Within separations, quits (3.4 million) and layoffs and discharges (1.6 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. This release also includes 2023 annual estimates for job openings, hires, and ... (full story)
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- From bankofcanada.ca|Mar 6, 2024|1 comment
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global economic growth slowed in the fourth quarter. US GDP growth also slowed but remained surprisingly robust and broad-based, with solid contributions from consumption and exports. Euro area economic growth was flat at the end of the year after contracting in the third quarter. Inflation in the United States and the euro area continued to ease. Bond yields have increased since January while corporate credit spreads have narrowed. Equity markets have risen sharply. Global oil prices are slightly higher than what was assumed in the January Monetary Policy Report (MPR). In Canada, the economy grew in the fourth quarter by more than expected, although the pace remained weak and below potential. Real GDP expanded by 1% after contracting 0.5% in the third quarter. Consumption was up a modest 1%, and final domestic demand contracted with a large decline in business investment. A strong increase in exports boosted growth. Employment continues to grow more slowly than the population, and there are now some signs that wage pressures may be easing. Overall, the data point to an economy in modest excess supply. CPI inflation eased to 2.9% in January, as goods price inflation moderated further. Shelter price inflation remains elevated and is the biggest contributor to inflation. Underlying inflationary pressures persist: year-over-year and three-month measures of core inflation are in the 3% to 3.5% range, and the share of CPI components growing above 3% declined but is still above the historical average. The Bank continues to expect inflation to remain close to 3% during the first half of this year before gradually easing post: BOC's Macklem: Economic Growth Remains Weak, Below Potential BOC's Macklem: Labor Market Shifting Toward a "Better Balance" BOC's Macklem: Seeking More Evidence That Wage Growth Moderating BoC’s Macklem: Bank Needs to See Further and Sustained Easing in Core Inflation post: BOC's Macklem: "Still Too Early to Consider Lowering" Interest Rates Bank of Canada Gov. Macklem: Need to Give Higher Rates More Time to Dampen CPI BOC's Macklem: Want to See Further Deceleration in Core CPI in Coming Months
- From @zerohedge|Mar 6, 2024
post: SPOT GOLD HITS FRESH RECORD HIGH AT $2,142.79/OZ
- From cnbc.com|Mar 6, 2024|1 comment
Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks ...
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- From youtube.com/gopfinancialservices|Mar 6, 2024|1 comment
Fed Chair Jerome Powell delivers semi-annual testimony to the House Financial Services Committee
- From @FirstSquawk|Mar 6, 2024|6 comments
post: FED'S POWELL: RATE CUTS WILL DEPEND ON PATH OF THE ECONOMY || INCOMING DATA WILL DETERMINE WHEN RATE CUTS BEGIN post: Fed's Powell: We Would Like To Have More Confidence On Inflation; We Have Some Confidence But Want More post:
FED'S POWELL: THE STRENGTH OF THE ECONOMY AND LABOR MARKET MEANS WE CAN APPROACH THAT CAREFULLY AND THOUGHTFULLY. post:
FED'S POWELL: PANDEMIC MAY HAVE CHANGED IN A SUSTAINED WAY HOW WE TARGET INFLATION. post: POWELL: WHAT WE'RE SEEING SO FAR THIS YEAR IS CONTINUED SOLID GROWTH || POWELL: WE ARE SEEING CONTINUED SOLID GROWTH, WHICH SHOULD CONTINUE POWELL: NO EVIDENCE OR REASON TO THINK ECONOMY AT SHORT-TERM RISK OF FALLING INTO A RECESSION || POWELL: NO REASON TO THINK THE ECONOMY IS…
- From youtube.com/bankofcanadaofficial|Mar 6, 2024
Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers answer reporters’ questions following the policy rate decision.
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- Posted: Mar 6, 2024 10:01am
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