The United States：The entire labor market is firm, but business is still active
2022-12-06
■ The U.S. employment statistics showed strong labor market
■ There are some signs of modulation, such as the reduction of personnel in the technology industry and the suppression of seasonal adoption of retail and transport industries
The U. S. employment statistics in November confirmed the tightness of the labor market. Although the increase in nonfarm sector employment (NFP) increased by 26.3 million in the previous month, the increase in the number of employees in the non farm sector was slowing more than 200000 in the previous month as a measure of stable employment growth, and unemployment (3.7 percent) remained below 4 percent, the Federal Reserve said. Average hourly increase (5.1% increase compared with the previous year and 0.6% increase in the previous month) accelerated the increase of the ratio in the previous month for three consecutive months, and the boosting power on the wages is intensifying again. In the breakdown of the business, NFP has continued to increase in the range of leisure and business, education and health services, while retail, transportation and warehousing operations have fallen for three consecutive months. However, the average hourly rate of retail, transportation and warehousing accounts for an increase in the rate of increase in the overall sector since the previous month. The labor participation rate (62.1%) is declining, and the overall market economy is still sluggish.
In a major high-tech company whose surge has increased after the start of the corona crisis, the number of companies to cut and decrease the number of corporate personnel cuts in November (July 835), which was raised by Challenger gray and Christmas company, rose sharply in the technology industry. In addition, the number of seasonal recruitment plan (597600 cases) for the end of the year commerce period mainly in the retail and transportation industry has been low since 2013, and it is necessary to consider the possibility that the sluggish labor demand and the stagnation of the labor demand accompanied by the economic slowdown are reflected, too. In the U. S. Federal Reserve Bank of Japan economic report (Beige Book) published on November 30, the labor market situation reported that "employment in the most districts increased gradually, but in the two districts, the number of employees was flat and labor demand was weakening," the newspaper said. The labor market has a different problem for each type of business, but the economy is slow moderately. The shift in the overall labor market, which the Federal Reserve has urged to increase the pace of interest rate slowdown and the correction of continued monetary tightening, has not been confirmed and will be one of the grounds for maintaining the current policy.