Retailers, consumers and prices
Check out the latest batch of grim data about the U.S. job market.
U.S. employment fell for the first time this year in June, renewing concerns about the strength of the U.S. economic recovery.
Weaker-than-expected private hiring and the end of thousands of temporary census jobs translated into a decline of 125,000 nonfarm payrolls, their largest fall since last October.
Analysts polled by Reuters had expected employment to fall 110,000 last month.
Private employment, often regarded as a better gauge of labor market health, rose only 83,000 in June, below market expectations for a 112,000 gain.
Retailers, wrestling with high labor costs and cautious American consumers, also seem to be playing safe while seeking new employees. Retail hiring fell 6,600 in June.
Check out workers in China angling for a bigger slice of the economic pie.
The labor unrest that began in China’s richer areas among foreign firms is now spreading to poorer, interior regions, as a new generation of workers seek a bigger portion of the nation’s growing wealth. What impact could that have on companies that have flocked over the decades to China, drawn by the low manufacturing and labor costs, as well as one of the world’s biggest and fastest growing economies?
Japanese automaker Honda and iPhone maker Foxconn International have dealt with high-profile strikes recently, and now a Taiwanese sports goods supplier and a Japanese sewing machine maker, both some distance from China’s wealthier regions around Hong Kong and Shanghai, have seen worker strikes. Resolutions of strikes at Honda and Foxxconn resulted in pay raises of 66 percent and 20 percent, respectively.
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Check out the rise in the number of U.S. workers filing new claims for jobless benefits.
Hurt by layoffs in seasonal industries, the initial claims for state unemployment insurance rose 17,000 to a seasonally adjusted 474,000 in the week ended Dec. 5 from 457,000 in the prior week, the Labor Department said.