Conflicting Macro Data Causes Severe Headaches for the BoE

In the U.K., both wages and inflation came in hotter than expected. Meanwhile, the unemployment rate edged up and payroll jobs saw a steep decline, indicating a rapidly weakening labor market.

News

The French economy has been outperforming thanks to fashionable exports, favorable demographics, and an attractive investment environment.

Industries: Discover industry-specific insights and the state of hiring in these main sectors.

We have expanded our reporting to cover Canada and the UK.

recruitonomics

Recruitonomics is a hub for data-driven research that aims to make sense of our evolving world of work.

#Liz Anderson

Content Strategist

All #Liz Anderson Stories

The jobs market added a surprisingly strong 353,000 net new jobs in January, while the unemployment rate remained low at 3.7%.
4 minutes
Ah, the holiday season. We decided to spark some holiday cheer by finding the most festive charts we could.
2 minutes
The American jobs market once again saw impressive gains in November, as shown in a jobs report that supported the soft landing narrative.
3 minutes
Recent developments have contributed to impressive labor force outcomes for disabled workers, but are they permanent or transient solutions?
4 minutes
The U.S. economy added 336,000 net new jobs in September, proving that the labor market remains strong despite recession fears.
3 minutes
Time has run out on the pandemic-era child care funding program. That presents a challenge to working parents and child care providers across the country.
3 minutes
Organized labor has been the hottest trend lately, earning the name "hot labor summer." But this era of labor activity is far from over.
4 minutes
Taylor Swift's Eras Tour has become the event of the summer, with some claiming it has saved the economy. Can popstars prevent recessions?
4 minutes
The Federal Reserve's tightening cycle posed a threat to the manufacturing and construction sectors, but the industries have remained strong.
3 minutes
Around the world, tight labor markets, economic headwinds, and new technologies have rewritten the rules of finding the right talent. Where does the world of recruiting stand now?
3 minutes
Employment growth in the food services and healthcare sectors has remained strong, which could help the labor market withstand a recession.
3 minutes
Recent cooling in the economy has contributed to softer price increases in the headline numbers, but inflation remains fairly stubborn.
2 minutes
Canada saw another strong month of gains in April but this time the increase was driven by part-time work.
5 minutes
Weekly initial unemployment claims rose slightly, but remain low and relatively flat. The labor market is cooling, but remains resilient.
2 minutes
Inflation is cooling overall, but housing inflation remains stubbornly high. This neutral report underscores the pressure still on the Fed.
3 minutes
Since 2020, recruiting has been difficult. In 2023, recruitment pressures have eased, reducing cost-per-application and cost-per-click.
4 minutes
As the Fed tried to balance inflationary and financial pressures, its latest hike appeared almost dovish compared to past decisions.
3 minutes
Though union membership rates decreased last year, labor actions notably increased. What empowered workers in 2022?
2 minutes
The Personal Consumption Expenditures price index came in hotter than expected in January, suggesting inflation will be hard to shake in 2023.
3 minutes
At the onset of the pandemic, females in the workforce suffered. From February to April 2020, prime-age labor force participation among women plummeted 3.5 percentage points, from 77% to 73.5%.
3 minutes
Tuesday's report was a reminder of two key things: inflation is not a single number, and never decide too much from a month’s worth of data.
2 minutes
The same tight labor market that has plagued recruiters in the past couple years has brought job seekers back into the fold, softening recruiting costs.
4 minutes
Inflation may be turning a corner but there are still some threats that could run it off the road, some of which are still unknown.
3 minutes
In the past two years, wage growth has been dramatic for low-wage workers, reducing inequality. Can this trend continue into 2023? 
2 minutes
Demand in the manufacturing sector has withstood the Federal Reserve's combative monetary policy. Because of consumer spending and new investments, employment growth in the sector has been better than ever.
3 minutes
The labor market cannot be defined singularly – instead, it is a collection of industries and locations that have unique reasons and demands for workers. These micro-markets are where the real changes in supply and demand occur.
3 minute
For recruiters, 2022 has been a confusing years. What economic trends contributed to the difficult recruitment landscape this year?
5 minutes
This year, inflation may be a hot topic around the holiday table. Here’s what you need to know to engage meaningfully in these discussions.
4 minutes
The Accommodation and Food Services sector added 78,000 new jobs last month. Strong consumer demand for services continues to bolster labor demand in the industry.
Retail sales fell by 0.6% in November, suggesting the season of giving is turning into the season of cutting back.
2 minutes
The pace of price increases slowed in November, but Federal Reserve officials remain on edge, delivering pessimistic projections.
4 minutes
Big tech companies have announced historic layoffs in the past month, but recent data proves that they are not the whole industry.
2 minutes
Job openings fell in October, continuing to suggest cooling in the labor market. However, both openings and quits remain historically elevated.
3 minutes
Warehousing suffered in October, reflecting the shifting preferences of consumers towards services and away from goods. The sector lost 20,000 jobs, its worst month since April 2020.
2 minutes
A survey of worker power in three large economies shows that benefits of the tight labor market are not equivalent.
4 minutes
Recently, major tech companies have engaged in devastating layoffs. But, the tech sector is still adding jobs and jobless claims remain low.
2 minutes
Inflation, even the less volatile core measure, cooled in October, which is encouraging news for both the Federal Reserve and consumers.
3 minutes
The elevated quits rate in retail allows employers to naturally decrease the size of their workforces just by cutting back on hiring.
2 minutes
The Federal Reserve is working hard to slow the economy, but consistent rate hikes have yet to curb inflation.
3 minutes
Job openings jumped in September after a dramatic decrease the month before. But wider turnover trends hint at a slowly cooling labor market.
3 minutes
Early estimates of Q3 GDP show a rebound in growth, despite interest rate increases deterring housing market investment.
4 minutes
Healthcare openings are declining, but recruiting costs remain stubbornly high.
2 minutes
Construction employment trends in September showed strength despite economic confusion. Download the sector's Labor Market Snapshot for more!
1 minute
Initial jobless claims – a proxy for layoffs – decreased last week, evidence that the labor market is still very tight.
2 minutes
Discouraged by the state of recruiting in an overheated market, employers are hoarding labor as uncertainty mounts.
4 minutes
Labor force participation still lags behind its pre-pandemic level, but some age groups are faring better than others.
3 minutes
Recent turnover and wage trends for restaurant workers hint at more substantial changes across the labor market.
4 minutes
What would a potential recession look like in this period of high inflation and high labor demand? Looking back to 1973 may hold some clues.
3 minutes
It’s been a turbulent week for the United Kingdom. Puzzling financial policy and political drama latched onto an ongoing energy crisis and a tight labour market, triggering volatility not seen in at least 20 years. 
6 minutes
Retailers face uncertainty heading into the holiday season. Several factors will impact their seasonal hiring goals this year.
3 minutes

Sign up to receive the latest updates!