The labor market remained strong but wage gains somewhat cooled. Non-farm payrolls rose by 223,000, exceeding the 203,000 estimate. The unemployment rate decline to 3.5% but the labor participation rate increased to 62.3%. Consensus was expecting a 3.7% rate and 62.2%, respectively. Wages however only increased by 0.3% versus the expected increase of 0.4%. The … Read more
Private payrolls increased 235,000 last month after an upwardly revised 182,000 in November according to data from the ADP Research Institute. The median forecast in a Bloomberg survey called for a 150,000 advance. Job gains were concentrated in businesses with less than 500 employees. The largest companies cut 151,000 workers from payrolls, ADP said. The … Read more
Job openings remained elevated in November, highlighting how a resilient labor market is likely to keep the Federal Reserve tilted toward more restrictive policy in the months ahead. The number of available positions ticked down to 10.46 million from 10.51 million a month earlier according to the Labor Department’s JOLT survey. The figure was higher … Read more
The first day of trading of 2023 was similar to 2022 trading…the under performance of the NASDAQ continued as two widely owned and followed technology companies disappointed. TSLA fell about 12% as it announced its fourth quarter deliveries missed estimates despite the firm offering incentives in important markets. APPL dropped over mounting fears about iPhone … Read more
