Employers added 142,000 jobs in August, figures show, which was less than expected.
Graham Watson's insight:
The US economy is currently betwixt and between - with the latest labour market figures showing weaker than expected job growth, although unemployment fell by 0.1% to 4.2%.
There are concerns that the Federal Reserve's conduct of monetary policy has been overly tight and that this is starting to impede the growth of the economy.
US employers added 272,000 jobs in May which was far higher than economists expected.
Graham Watson's insight:
Rising job creation in the US might have implications for the conduct of monetary policy, with the prospect of further rate cuts being delayed because of concerns about the level of aggregate demand in the economy.
It will be interesting to see what the Federal Reserve will do.
Employers in the US added 175,000 jobs in the US in April, while the unemployment rate ticked up to 3.9%.
Graham Watson's insight:
Much like the UK, it seems as though the US is currently stuck in limbo, unable to decide whether to fully recover or not. Having seen the Federal Reserve keep interest rates at 5.25-5.5%, the latest US jobs data saw comparatively few new jobs created an unemployment rise.
As a result, some are speculating that interest rate cuts might be back on the agenda sooner rather than later.
The US also recorded solid hiring in an "all over the place" Labor Department report.
Graham Watson's insight:
The latest data from the US suggests that unemployment has just ticked upwards to 3.9% although job creation was higher than expected. It might confirm the view that over-obsessing about a single month's data might not be a good thing.
The number of jobs added to the US economy last month was almost double the amount forecast.
Graham Watson's insight:
It seems that the US recovery is stronger than was anticipated - if only measured by the extent to which jobs are being created and, as a result, some people think that the Federal Reserve might be tempted to raise interest rates when it next meets.
It's clear that the economy is proving resilient, but is 3.8% really the natural rate of unemployment?
Online gig work is an emerging force in the job market. Countries are eager to capitalize on this new and growing form of work to help their most disadvantaged populations and expand their economies. A new World Bank report, “Working Without Borders: The Promise and Peril of Online Gig Work” highlights the risks, the challenges, and the enormous potential of this type of work, especially for developing countries and for marginalized groups like women, youth, and people living in rural areas.
Graham Watson's insight:
This World Bank clip looks at the rise of online gig work - the opportunities and the challenges that the growth of the sector poses. The World Bank are of the view that online gig work is particularly appealing to young people and women, but with that come a number of challenges, not least the threat that these workers can be exploited - not least in terms of gender-based discrimination.
Employers add 209,000 jobs in June, a sign higher borrowing costs may be beginning to bite.
Graham Watson's insight:
The latest US jobs data suggests that the economy is slowing - with jobs growth at its weakest in the past two years. All in all, the post-Covid, post-Ukraine recovery doesn't appear to have been sustained.
The world's biggest economy added 236,000 roles in March, led by bars and restaurants.
Graham Watson's insight:
Slightly mixed messages from the US economy, but, overall, the picture looks relatively healthy. The economy is growing, creating new jobs and unemployment remains low, so what's not to like?
More than 40 percent of all children below primary-school age – or nearly 350 million – need childcare but do not have access, according to a new World Bank report. As a result, too many children are spending time in unsafe and unstimulating environments. Learn how investments in childcare can increase women’s employment and productivity, create new jobs, improve child outcomes, drive economic growth, and support a more resilient and inclusive recovery from the pandemic.
Graham Watson's insight:
The importance of childcare is often overlooked as a way of promoting development. However, if children below primary school age don't have access to it, not only do they suffer but their parents might also be unable to enter the labour force and thus the provision of high quality childcare can have a number of positive effects upon an economy's developmental prospects.
Dollar has strengthened on expectations US interest rates will rise, weighing on the pound.
Graham Watson's insight:
The latest from the US, where despite slowing job growth, it seems that market sentiment thinks that the Federal Reserve are going to have to do more to rein in inflation. This means that interest rate rises might well be on the cards, and as a result the dollar strengthened against the pound.
However, the central bank will be wary of having to balance tackling inflation with sustaining economic growth, a tough task.
As supply chains fray around the globe, branches of industry are choosing Germany’s east to return to Europe
Graham Watson's insight:
Has the tide turned for the former East Germany, with disruption to global supply chains encouraging some firms to relocate to the eastern part of the country, generating jobs and boosting incomes via the regional multiplier effects of their investment. Factor in the higher skills that such high-tech jobs are likely to generate and it seems as though the region is going to start catching up with the rest of the German economy.
Employers added 428,000 jobs last month, while the jobless rate held steady at 3.6%.
Graham Watson's insight:
It seems as though the US economy is making a strong recovery. Unemployment remains remarkably low at 3.6% and there were 428,000 jobs created last month. And given the state of labour market, it's unsurprising that there's significant wage growth, which is perhaps helping fuel inflation.
Employers added 467,000 jobs in January, far better than most analysts had predicted.
Graham Watson's insight:
The US economy saw 467,000 jobs added in January, exceeding analysts expectations in the wake of the impact of the Omicron variant, Good news for America is invariably good news for the global economy.
In the Central African Republic, one of Africa’s poorest countries, local sand diver Thomas Boa and Chinese construction manager Jianmin Luan struggle to improve their fortunes.
They “eat bitter” today in the hope of a better tomorrow, but with no guarantees of what their futures may hold.
Graham Watson's insight:
A remarkable look at how some the world's most vulnerable get by - and a look at how Chinese investment in every corner of Africa is offering the prospect of development.
There's not much explicit economics here but the anecdotal material here is priceless.
The World Bank’s Geo-Enabling Initiative for Monitoring and Supervision is an innovative program that is helping to maintain transparency and accountability in project monitoring and supervision. Digital initiatives like these can help Bangladesh achieve its upper middle-income vision.
Graham Watson's insight:
This World Bank clip looks at Bangladesh's roads, and their importance to development. Enhancing infrastructure, in boosting the supply-side is clearly a good thing - however, the schemes also employed nearly 800 rural women who have been able to save and start their own businesses, giving them the potential to break out of the poverty cycle.
Roads are essential to development - enhancing education and healthcare, as well as encouraging greater trade.
Employers added more than 300,000 jobs in March - the biggest gain in almost a year.
Graham Watson's insight:
The latest jobs data from the US illustrates that the economy is still rebounding at a decent pace, making it unlikely that the Federal Reserve are going to lower interest rates in the near future, because of fears that there still might be the prospect of inflation picking up.
The wider concern, is that this also implies that other economies are going to follow suit and it reduces the likelihood of short-term rate cuts elsewhere.
The report from the Labor Department suggests America's run of stronger-than-expected job gains may be over.
Graham Watson's insight:
It's almost as if the Federal Reserve knew that the latest US labour market figures were going to suggest slower than expected jobs growth and a slight uptick in unemployment before they made yesterday's interest rate decision.
However, with hindsight, holding interest rates now seems like a very prudent decision.
Farming fish has seen rapid growth in Africa but it can be an expensive, high-risk operation.
Graham Watson's insight:
This BBC article highlights how fish farming is expanding in Africa, in a number of states, and as a result it's creating jobs, boosting development, and innovating.
However, it's still a risky pursuit - many African lakes can be prone to upwelling - which depletes the oxygen in the lake and can cost producers their entire fish stocks.
Employers added 187,000 jobs in July raising hopes that the economy will avoid a painful downturn.
Graham Watson's insight:
The US economy remains relatively robust, despite concerns about the economy going into recession, with 187,000 jobs being created last month and unemployment at 3.5%. As a result, it seems likely that the Federal Reserve are not going to raise interest rates any further.
Employers in the US added 253,000 jobs in April as the labour market held up better than expected.
Graham Watson's insight:
The US economy remains in decent health looking at the latest unemployment data. It has returned to a multi-decade low of 3.4% and another 253,000 jobs were created last month, despite rising interest rates.
I'm interested to see what this implies for macroeconomic modelling - have developed economies changed? Certainly it seems as though the Phillips Curve has shifted leftwards.
Employers added 311,000 jobs in February, latest figures show, more than expected.
Graham Watson's insight:
It seems as though the US economy remains resilient, even in the face of tighter monetary policy, with over 300,000 jobs created in February, exceeding commentators expectations.
The jobless rate fell to its lowest in more than 50 years last month, as employers added 517,000 jobs.
Graham Watson's insight:
The US has good news from tis labour markets,with joblessness reaching a 50 year record low and another half a million jobs being added in January. That said, it's a single month, and it's difficult to see this as part of a trend.
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The US economy added 315,000 new jobs last month, far fewer than the number created in July.
Graham Watson's insight:
US job creation has fallen a little bit - with fewer jobs created in August than in July. It's only a marginal decline but some are worried about the implications of this for the UK economy.
Access to quality childcare has to potential to lift families out of poverty, build human capital – and increase equity. Learn how investments in childcare can increase women’s employment and productivity, create new jobs, improve child outcomes, drive economic growth, and support a more resilient and inclusive recovery from the pandemic and other shocks.
Graham Watson's insight:
This World Bank clip highlights the importance of childcare to developmental outcomes - with 315 million children under school age having no access to effective childcare.
It's an important issue in increasing both child development and female participation in the labour force, as well as offering employment and entrepreneurial opportunities.
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The US economy is currently betwixt and between - with the latest labour market figures showing weaker than expected job growth, although unemployment fell by 0.1% to 4.2%.
There are concerns that the Federal Reserve's conduct of monetary policy has been overly tight and that this is starting to impede the growth of the economy.