Growth in labor productivity is measured by the change in economic output per labor hour over a defined period.
The economy added justjobs last month, following a rise ofin August after an upward revision. However, the weak headline number was accompanied by hugely positive revisions in July and August. With those, employment gains in these two months combined were 87, higher than previously reported.
In consequence, after revisions, job gains have averagedper month over the last three months, orthrough the first nine months ofstill significantly above the level needed for a gradual tightening of the labor market.
The gains were significantly below the expectations, perhaps reflecting the effects of Hurricane Florence, which affected parts of the East Coast in September.
On the contrary, retail tradeand leisure and hospitalitycut jobs in September. Although the job creation disappointed in September, the annual pace of job creations increased actually in September, as the chart below shows.
The chart also displays the unemployment rate. As one Labor market in china see, it sank by 0. Importantly, both the labor force participation rate and the employment-population ratio were little changed, so the decline in the jobless rate did not result from the discouragement of the jobseekers.
It implies that they increased 2. However, the economists expect that the growing competition for a shrinking pool of available workers will finally boost wages in the near future.
Implications for Gold Despite the weak headline job gains, the September edition of the Employment Situation Report was strong. The payrolls were probably affected by the hurricane, while the last time the unemployment rate was lower was in December All that means that the US labor market remains solid, driving the whole economy.
Thus, the FOMC should stay on track to continue gradually raising interest rates, with the next hike in the federal funds rate likely to come in December. Hence, gold should remain under downward pressure, especially given the current developments in Europe.
In a response, the PBOC eased its monetary policy.
The widening divergence between the yuan and the US dollar is bearish for gold. Gold prices from October 5 to October 8, The fact that the yellow metal, which is considered as the ultimate safe-haven asset, did not benefited from an uptick in risk aversion, is rather worrisome for the gold bulls.
As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing.
Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported.
The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Radomski is not a Registered Securities Advisor.In this report, labor market developments in the Western Balkan countries in the period are presented and compared with selected member states of the European Union (EU).
From an administered labor system under central planning, the Chinese economy has moved towards a labor market. This book reviews the progress that has been made over two decades of urban economic reform. It analyzes the underlying political economy that has both induced and impeded reform, and examines the economic changes that have unleashed market forces.
Labor Market and Gender Wage Differential in China Central planning and labor market regulation over the past years, is marked by assigned jobs and equalized wages. China’s labor market has undergone significant changes in the past twenty years.
A more market- oriented labor market has emerged with the growing importance of the urban private sector, as state-owned enterprises (SOEs) have downsized. China's industrial labor market has become more flexible following the radical labor reforms.
Table 5 displays some estimates for international comparisons obtained from different data sources. While these studies are not fully compatible, 12 the general patterns emerging from these studies are . EC08CHHanson ARI 29 September The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade David H.
Autor,1,2 David Dorn,3,4 and Gordon H. Hanson2,5 1Department of Economics, Massachusetts Institute of Technology, Cambridge, Massachusetts ; email: [email protected]