The U.S. economy added a robust 303,000 jobs in March, well above expectations, as the unemployment rate ticked down to 3.8%.
The latest figures from the Bureau of Labor Statistics showed that the pace of job growth still remains hot, despite some predictions of a slowdown. The job growth was higher than the monthly average gain of 231,000 over the previous 12 months, according to the agency. Major jobs gains were in health care, government and construction.
Average hourly earnings increased by 12 cents, or 0.3%, to $34.69. Over the past 12 months, average hourly earnings have increased by 4.1%, above the rate of inflation. The past two months of job gains also were revised upward by 22,000.
Despite the robust picture overall, jobs in movies and sound recording fell by 2,600 positions, to 438,400. Jobs in broadcasting and among content providers fell by 2,300, to 341,500. Jobs in publishing increased by 4,500, to 931,500.
Joe Biden has touted the job growth during his presidency,...
The latest figures from the Bureau of Labor Statistics showed that the pace of job growth still remains hot, despite some predictions of a slowdown. The job growth was higher than the monthly average gain of 231,000 over the previous 12 months, according to the agency. Major jobs gains were in health care, government and construction.
Average hourly earnings increased by 12 cents, or 0.3%, to $34.69. Over the past 12 months, average hourly earnings have increased by 4.1%, above the rate of inflation. The past two months of job gains also were revised upward by 22,000.
Despite the robust picture overall, jobs in movies and sound recording fell by 2,600 positions, to 438,400. Jobs in broadcasting and among content providers fell by 2,300, to 341,500. Jobs in publishing increased by 4,500, to 931,500.
Joe Biden has touted the job growth during his presidency,...
- 4/5/2024
- by Ted Johnson
- Deadline Film + TV
The U.S. economy continued its robust pace of job growth in February, adding 275,000 jobs while unemployment rose to 3.9%.
Jobs in movies and sound recording rose again during the month to 443,200, a gain of 3,200. Jobs in broadcasting and other content providers fell by 1,800, to 341,400, according to data from the Bureau of Labor Statistics.
Large gains were seen in health care, government and food services and drinking places. The average hourly earnings rose 5 cents to $34.57, following a larger 18 cents increase the previous month.
As is typical, the Bureau of Labor Statistics revised figures from previous month, shaving off estimates for January to 229,000 jobs added, versus 353,000 in the initial estimate, and in December to 290,000, versus the original 330,000 figure.
Mark Zandi, chief economist for Moody’s Analytics, wrote on X/Twitter, “Another month, another good report on the job market. Abstracting from the vagaries of the monthly data, the economy is creating between 200-250k jobs a month,...
Jobs in movies and sound recording rose again during the month to 443,200, a gain of 3,200. Jobs in broadcasting and other content providers fell by 1,800, to 341,400, according to data from the Bureau of Labor Statistics.
Large gains were seen in health care, government and food services and drinking places. The average hourly earnings rose 5 cents to $34.57, following a larger 18 cents increase the previous month.
As is typical, the Bureau of Labor Statistics revised figures from previous month, shaving off estimates for January to 229,000 jobs added, versus 353,000 in the initial estimate, and in December to 290,000, versus the original 330,000 figure.
Mark Zandi, chief economist for Moody’s Analytics, wrote on X/Twitter, “Another month, another good report on the job market. Abstracting from the vagaries of the monthly data, the economy is creating between 200-250k jobs a month,...
- 3/8/2024
- by Ted Johnson
- Deadline Film + TV
Update: President Joe Biden touted the higher-than-expected jobs numbers as a sign that Bidenomics is working, but he had a take on why polls show Americans are still deeply unhappy about the state of the economy despite the rosy stats.
It has to do with media coverage.
“You all are not the happiest people in the world, what you report, and I mean this sincerely,” Biden told reporters at the White House. “You get more legs when you report something that is negative…It’s just the nature of things. You turn on the television, and there’s not a whole lot about, ‘Boy saves dog as he swims in the lake.’ It is about, ‘Somebody pushed the dog in the lake.'”
“I get it, but if you listen to what is going on around the world, there’s reason for people to be concerned. …I think the American...
It has to do with media coverage.
“You all are not the happiest people in the world, what you report, and I mean this sincerely,” Biden told reporters at the White House. “You get more legs when you report something that is negative…It’s just the nature of things. You turn on the television, and there’s not a whole lot about, ‘Boy saves dog as he swims in the lake.’ It is about, ‘Somebody pushed the dog in the lake.'”
“I get it, but if you listen to what is going on around the world, there’s reason for people to be concerned. …I think the American...
- 10/6/2023
- by Ted Johnson
- Deadline Film + TV
U.S. Economy Adds 187,000 Jobs In August, Entertainment Employment Continues To Decline Amid Strikes
Job growth continued to grow in August, as the U.S. economy added 187,000 jobs, but it has been at a slower rate during the summer. The unemployment rate rose to 3.8% during the month.
Jobs in movie and recording industries continued to fall, to 437,600, a loss of 16,800, as the industry grapples with writers and actors strikes. Seeking to address strikes in the industry and among hotel workers, lawmakers in California are considering a bill to make striking workers eligible to receive unemployment.
Overall, average hourly earnings rose by 8 cents, or 0.2 percent, to $33.82. The labor participation rate also increased.
The Federal Reserve’s aggressive campaign of rate hikes, designed to tame inflation, have raised concerns that it would help generate a recession. That hasn’t happened yet, leading to some hopes that the economy could be in for a soft landing as prices are kept under control.
Earlier reports for July and June also were revised downward.
Jobs in movie and recording industries continued to fall, to 437,600, a loss of 16,800, as the industry grapples with writers and actors strikes. Seeking to address strikes in the industry and among hotel workers, lawmakers in California are considering a bill to make striking workers eligible to receive unemployment.
Overall, average hourly earnings rose by 8 cents, or 0.2 percent, to $33.82. The labor participation rate also increased.
The Federal Reserve’s aggressive campaign of rate hikes, designed to tame inflation, have raised concerns that it would help generate a recession. That hasn’t happened yet, leading to some hopes that the economy could be in for a soft landing as prices are kept under control.
Earlier reports for July and June also were revised downward.
- 9/1/2023
- by Ted Johnson
- Deadline Film + TV
The U.S. economy added 187,000 jobs in July, slightly less than expectations, while the unemployment rate dropped to 3.5%.
The job gains were on par with those in June. They are likely to give economists more hope that the labor market can withstand the Federal Reserve’s inflation-fighting interest rate hikes without a recession.
The Bureau of Labor Statistics said that the largest job gains were in health care, social assistance, financial activities and wholesale trade. Employment in motion picture and recording industries fell to 463,000, from 469,200 a month earlier. The WGA strike slowed production, and the SAG-AFTRA walkout in July largely brought it to a standstill. There also was a slight drop in jobs in broadcasting and content providers, to 351,300, from 351,800 a month earlier. The figures are seasonally adjusted. Jobs in publishing also fell, to 931,200, from 934,900.
On CNN, Acting Labor Secretary Julie Su was asked about her mediation of a strike...
The job gains were on par with those in June. They are likely to give economists more hope that the labor market can withstand the Federal Reserve’s inflation-fighting interest rate hikes without a recession.
The Bureau of Labor Statistics said that the largest job gains were in health care, social assistance, financial activities and wholesale trade. Employment in motion picture and recording industries fell to 463,000, from 469,200 a month earlier. The WGA strike slowed production, and the SAG-AFTRA walkout in July largely brought it to a standstill. There also was a slight drop in jobs in broadcasting and content providers, to 351,300, from 351,800 a month earlier. The figures are seasonally adjusted. Jobs in publishing also fell, to 931,200, from 934,900.
On CNN, Acting Labor Secretary Julie Su was asked about her mediation of a strike...
- 8/4/2023
- by Ted Johnson
- Deadline Film + TV
Employers added 263,000 jobs in September and the unemployment rate fell to 3.5, in line with expectations that job growth would slow during the month.
Still, the pace of hiring was slightly higher than predictions.
The biggest job gains were in leisure, hospitality and health care, according to figures from the Bureau of Labor Statistics.
To tame inflation, the Federal Reserve has been trying to slow the economy by raising interest rates, moves that risk sending the U.S. into a recession.
Average hourly earnings in the private, nonfarm sector rose by 10 cents, or 0.3, to 32.36.
Employment in movies and recording industries rose slightly to 444,400, up 5,200 jobs from the previous month. Broadcasting jobs fell slightly, to 234,100, off by about 1,000 jobs. Performing arts and sports employment rose by 2,500 jobs, to 492,900.
Jason Furman, the Harvard professor who was chairman of the Council of Economic Advisers under President Barack Obama, said that the latest numbers were what “was mostly predicted.
Still, the pace of hiring was slightly higher than predictions.
The biggest job gains were in leisure, hospitality and health care, according to figures from the Bureau of Labor Statistics.
To tame inflation, the Federal Reserve has been trying to slow the economy by raising interest rates, moves that risk sending the U.S. into a recession.
Average hourly earnings in the private, nonfarm sector rose by 10 cents, or 0.3, to 32.36.
Employment in movies and recording industries rose slightly to 444,400, up 5,200 jobs from the previous month. Broadcasting jobs fell slightly, to 234,100, off by about 1,000 jobs. Performing arts and sports employment rose by 2,500 jobs, to 492,900.
Jason Furman, the Harvard professor who was chairman of the Council of Economic Advisers under President Barack Obama, said that the latest numbers were what “was mostly predicted.
- 10/7/2022
- by Ted Johnson
- Deadline Film + TV
Inflation eased somewhat in August, but it was far less than expected.
The Consumer Price Index rose 8.3 compared to the same month a year ago. That was down a bit from the 8.5 rate in July.
But month-over-month inflation still rose by 0.1, according to the Bureau of Labor Statistics, after being flat in July. That has increased worries that the Federal Reserve has yet to get the increase in prices under control, and made continue its plan to raise rates to try to slow down the economy.
While there was a 10.6 decline in the gasoline index, there were sharper increases in the price of food, housing and medical care.
Economist Paul Krugman, op ed columnist for The New York Times, wrote on Twitter, “So this core reading may be telling us about the past, not the future. Given this reading, the Fed will have no choice about continuing to hike, but...
The Consumer Price Index rose 8.3 compared to the same month a year ago. That was down a bit from the 8.5 rate in July.
But month-over-month inflation still rose by 0.1, according to the Bureau of Labor Statistics, after being flat in July. That has increased worries that the Federal Reserve has yet to get the increase in prices under control, and made continue its plan to raise rates to try to slow down the economy.
While there was a 10.6 decline in the gasoline index, there were sharper increases in the price of food, housing and medical care.
Economist Paul Krugman, op ed columnist for The New York Times, wrote on Twitter, “So this core reading may be telling us about the past, not the future. Given this reading, the Fed will have no choice about continuing to hike, but...
- 9/13/2022
- by Ted Johnson
- Deadline Film + TV
Washington, Sep 10 (Ians) The ‘scariest economics paper of 2022’ has warned that a high unemployment rate will be necessary to combat inflation and to bring inflation down to 2 per cent, the US may need to tolerate unemployment of 6.5 per cent for at least two years.
The paper from the Brookings Institution by Johns Hopkins macroeconomist Larry Ball with co-authors Daniel Leigh and Prachi Mishra of the International Monetary Fund (Imf) found that “this unemployment path returns inflation to near the Fed’s target only under optimistic assumptions”.
“Under less benign assumptions about these factors, the inflation rate remains well above target unless unemployment rises by more than the Fed projects,” the paper said.
In a following opinion piece in The Wall Street Journal, Jason Furman, former chairman of the White House Council of Economic Advisers under President Obama, called this “the scariest economic paper of 2022”.
Based on Brookings’ findings, the Fed...
The paper from the Brookings Institution by Johns Hopkins macroeconomist Larry Ball with co-authors Daniel Leigh and Prachi Mishra of the International Monetary Fund (Imf) found that “this unemployment path returns inflation to near the Fed’s target only under optimistic assumptions”.
“Under less benign assumptions about these factors, the inflation rate remains well above target unless unemployment rises by more than the Fed projects,” the paper said.
In a following opinion piece in The Wall Street Journal, Jason Furman, former chairman of the White House Council of Economic Advisers under President Obama, called this “the scariest economic paper of 2022”.
Based on Brookings’ findings, the Fed...
- 9/10/2022
- by Glamsham Bureau
- GlamSham
One in a series of conversations with industry figures about the 2022 midterm elections.
Writer-director Adam McKay has been no great fan of President Joe Biden. The Oscar-winning writer and director favored Bernie Sanders and Elizabeth Warren in the last presidential election, and though he supported Biden in the general, he’s been skeptical that his presidency would mark real change from the flood of special interests and money in politics.
But in an interview, McKay said that Biden’s executive order to forgive student debt surprised him.
Hollywood Democrats Pour Money Into Midterms With A Tinge Of Hope And A Lot Of Caution
“I felt that was big. I felt that was a game changer,” he said. “That is exactly what people have been begging for for years. Now, mixed with the horrors of Dobbs [the Supreme Court decision overturning Roe v. Wade] I think it changed the whole trajectory of the midterms.”
He said that he...
Writer-director Adam McKay has been no great fan of President Joe Biden. The Oscar-winning writer and director favored Bernie Sanders and Elizabeth Warren in the last presidential election, and though he supported Biden in the general, he’s been skeptical that his presidency would mark real change from the flood of special interests and money in politics.
But in an interview, McKay said that Biden’s executive order to forgive student debt surprised him.
Hollywood Democrats Pour Money Into Midterms With A Tinge Of Hope And A Lot Of Caution
“I felt that was big. I felt that was a game changer,” he said. “That is exactly what people have been begging for for years. Now, mixed with the horrors of Dobbs [the Supreme Court decision overturning Roe v. Wade] I think it changed the whole trajectory of the midterms.”
He said that he...
- 9/2/2022
- by Ted Johnson
- Deadline Film + TV
The U.S. economy added 528,000 jobs in July, an unexpectedly robust figure that nevertheless has triggered concerns over ongoing inflation.
The unemployment rate dropped to 3.5.
The job growth was “widespread,” according to the Bureau of Labor Statistics, with gains in leisure and hospitality, professional and business services and healthcare.
President Joe Biden touted the job gains, noting that the unemployment rate “matches the lowest it’s been in more than 50 years: 3.5. More people are working than at any point in American history.”
But the employment gains come as the Federal Reserve is trying to cool off the economy and curb inflation.
Jason Furman, professor at Harvard who was President Barack Obama’s chairman of the Council of Economic Advisers, wrote on Twitter that the report was “uncomfortably hot.” He noted that average hourly earnings were up 5.8 in July, and the June figure was revised upward to 5.4.
“Recession is now less of a worry.
The unemployment rate dropped to 3.5.
The job growth was “widespread,” according to the Bureau of Labor Statistics, with gains in leisure and hospitality, professional and business services and healthcare.
President Joe Biden touted the job gains, noting that the unemployment rate “matches the lowest it’s been in more than 50 years: 3.5. More people are working than at any point in American history.”
But the employment gains come as the Federal Reserve is trying to cool off the economy and curb inflation.
Jason Furman, professor at Harvard who was President Barack Obama’s chairman of the Council of Economic Advisers, wrote on Twitter that the report was “uncomfortably hot.” He noted that average hourly earnings were up 5.8 in July, and the June figure was revised upward to 5.4.
“Recession is now less of a worry.
- 8/5/2022
- by Ted Johnson
- Deadline Film + TV
The U.S. economy added 390,000 jobs in May, beating expectations, amid concerns that the market could be in for some turbulence.
Unemployment remained unchanged at 3.6.
President Joe Biden is expected to address the latest numbers on Friday morning.
Employment in motion pictures and sound recordings grew by 10,600, to 431,300, according to seasonally adjusted figures. There was little growth in broadcasting jobs, nearly unchanged at 233,500.
The Bureau of Labor Statistics said that the job growth occurred in leisure and hospitality, professional and business services and transportation and warehousing. The retail trade showed a decline, by 61,000 jobs, in what may be a sign that consumers are curbing spending amid high inflation.
Harvard professor Jason Furman wrote on Twitter that the May figures were a “nice simple jobs report with all the numbers lining up coherently and well.” He added that one figure – showing average hourly earnings growth shifting from a 6 to a 4.5 page,...
Unemployment remained unchanged at 3.6.
President Joe Biden is expected to address the latest numbers on Friday morning.
Employment in motion pictures and sound recordings grew by 10,600, to 431,300, according to seasonally adjusted figures. There was little growth in broadcasting jobs, nearly unchanged at 233,500.
The Bureau of Labor Statistics said that the job growth occurred in leisure and hospitality, professional and business services and transportation and warehousing. The retail trade showed a decline, by 61,000 jobs, in what may be a sign that consumers are curbing spending amid high inflation.
Harvard professor Jason Furman wrote on Twitter that the May figures were a “nice simple jobs report with all the numbers lining up coherently and well.” He added that one figure – showing average hourly earnings growth shifting from a 6 to a 4.5 page,...
- 6/3/2022
- by Ted Johnson
- Deadline Film + TV
Update, 8:12 Am Pt: President Joe Biden seized on a robust jobs report to make the case that his economic agenda is working, as he called on House lawmakers to vote on two key bills.
“Our economy is on the move,” Biden said in his remarks from the White House, as he argued that job recovery has come much faster than anticipated.
Biden said he would be calling lawmakers to urge them to vote on the Build Back Better Act and the infrastructure bills. As concerns are raised over inflation, Biden argued that the legislation would mitigate it.
“If your number one issue is cost of living, your number one priority should be that Congress pass these bills,” Biden said.
Previously: The U.S. economy added 531,000 jobs in October, as the unemployment rate fell to 4.6%, a rebound from lackluster numbers over the late summer.
The numbers were good news for Joe Biden’s administration,...
“Our economy is on the move,” Biden said in his remarks from the White House, as he argued that job recovery has come much faster than anticipated.
Biden said he would be calling lawmakers to urge them to vote on the Build Back Better Act and the infrastructure bills. As concerns are raised over inflation, Biden argued that the legislation would mitigate it.
“If your number one issue is cost of living, your number one priority should be that Congress pass these bills,” Biden said.
Previously: The U.S. economy added 531,000 jobs in October, as the unemployment rate fell to 4.6%, a rebound from lackluster numbers over the late summer.
The numbers were good news for Joe Biden’s administration,...
- 11/5/2021
- by Ted Johnson
- Deadline Film + TV
Updated, 10:08 Am Pt: President Joe Biden characterized the latest jobs figures as progress, even if the growth in employment was less than economists had expected.
“Jobs up, wages up, unemployment down. That’s progress,” Biden said, as he tried to make the case that the situation is improving.
He also noted that the figures were from a survey from mid-September, before Covid-19 cases began to decline.
“Right now things in Washington are awfully noisy. Turn on the news, and every conversation is a confrontation,” he said.
Most of his remarks focused on the need to pass a bipartisan infrastructure bill and the larger “human” infrastructure proposal. He pitched the legislation as a way to better compete with China.
“These bills are about competitiveness versus complacency,” he said.
Previously: The economy added a modest and lower-than-expected 194,000 jobs in September, while the unemployment rate fell to 4.8%.
The figures, from the Bureau of Labor Statistics,...
“Jobs up, wages up, unemployment down. That’s progress,” Biden said, as he tried to make the case that the situation is improving.
He also noted that the figures were from a survey from mid-September, before Covid-19 cases began to decline.
“Right now things in Washington are awfully noisy. Turn on the news, and every conversation is a confrontation,” he said.
Most of his remarks focused on the need to pass a bipartisan infrastructure bill and the larger “human” infrastructure proposal. He pitched the legislation as a way to better compete with China.
“These bills are about competitiveness versus complacency,” he said.
Previously: The economy added a modest and lower-than-expected 194,000 jobs in September, while the unemployment rate fell to 4.8%.
The figures, from the Bureau of Labor Statistics,...
- 10/8/2021
- by Ted Johnson
- Deadline Film + TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.