The rise in government payrolls was driven by local government hiring. Employment in government increased by 51,000 positions, returning to its pre-pandemic level. Last month's increase in hiring was led by the healthcare sector, which added 58,000 jobs, the bulk of them in ambulatory health care services. "So, no need to worry about excessive weakness at least until we see what the post-strike environment looks like." "A payroll increase of 150,000 is not bad, and 180,000 - what it would have been without the strike and ancillary impacts - is solid," said Chris Low, chief economist at FHN Financial in New York. Though hiring is slowing as a result of the cumulative impact of rate hikes from the Fed, payroll gains remain way above the roughly 100,000 jobs per month needed to keep up with growth in the working-age population.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |