Labor Market — Blog — Jill on Money

Half Time for the Economy 2017

The better than expected June jobs report and Federal Reserve Chair Janet Yellen’s upcoming Congressional testimony is a good opportunity to review where the U.S. economy stands at the mid point of 2017. Economic Growth: The broadest measure of economic growth is Gross Domestic Product (GDP). Over the past fifty years or so, the economy has grown by 3 percent annually. In the past decade, that rate has dropped to about 2 percent, with 2015 being the best year (+2.6 percent) and 2009 the worst year (-2.8 percent).

Will Weak Jobs Put Rate Hikes at Risk?

With the labor market slowing down, will the Federal Reserve raise interest rates at its next policy meeting in two weeks? That was the big question after the Labor Department reported that the economy added a disappointing 138,000 jobs in May, worse than the 185,000 analysts had expected. Additionally, the previous two months were revised lower by 66,000, putting the three month average at just 121,000. In the first five months of 2017, the economy has seen average monthly job creation of 162,000, down from 189,000 in 2016, and 226,000 in 2015.

Strong Feb Jobs Means Fed Rate Hike

Get ready for a Fed interest rate hike this week. The February jobs report showed that the US economy added a larger than expected 235,000 jobs, the unemployment rate edged down to 4.7 percent and annual wage growth bounced back from a revised 2.6 percent in January to 2.8 percent, ahead of the 2.7 percent average seen in the second half of last year. The increase in wages demonstrates that the labor market is tightening and that state-level minimum wage hikes are filtering through the economy.

DOL Fiduciary on Life Support

The Department of Labor's fiduciary rule faces two hurdles: a lawsuit and now, the Trump Administration's efforts to delay or perhaps kill it off. On Friday, President Trump signed an order directing the Treasury secretary to review the 2010 Dodd-Frank financial regulatory law. You remember Dodd-Frank, the big legislation meant to reign in the excesses of Wall Street after the financial crisis, right?

BlogMark TalercioFebruary 4, 2017DOL, DOL Fiduciary, Employment, Fiduciary, Fiduciary vs suitability, Jobs, Labor Market, Unemployment

2016 Job Market Roundup

How was the job market in 2016? With the final employment numbers of 2016 now in, it’s time to award medals to various components of the labor market.