Rent, mortgage payments are hard to meet for workers entangled in the government shutdown
On Christmas Eve, Cory Binsfield, a landlord in Duluth, Minnesota, received bad news from a couple of his tenants: their rent will be late. Normally, Binsfield dings tenants who are more than five days behind with an 8 percent late...
‘Time to buy’: Bank of America contrarian indicator with strong track record signals rally ahead
The recent exit from risky assets like stocks by investors sent a powerful contrarian “buy” signal for the market not seen since during the Brexit turmoil, according to a Bank of America Merrill Lynch market gauge with a strong short-term...
Powell says Fed ‘wouldn’t hesitate’ to tweak balance sheet reduction if it was causing problems
Federal Reserve Chairman Jerome Powell said Friday that the central bank “wouldn’t hesitate” to adjust how quickly it lets its balance sheet shrink if it starts to cause problems in financial markets. “We don’t believe that our issuance is an...
Week Ahead – Factory Data to Remain in Focus; BoC to Start off 2019 Central Bank Meetings
Industrial production out of Germany, the UK and France will dominate the economic calendar next week, keeping investors’ attention firmly on the growth outlook for 2019. The Bank of Canada will be the first of the major central banks to...
Weekly Focus: 2019 Starts off on the Wrong Foot
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Manufacturing industry posts biggest annual job gain in 20 years
The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997. A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred...
U.S. Payroll Employment Surged Higher in December
Highlights: December payroll employment jumped a stronger-than-expected 312k — above survey estimates for a ~180k increase The unemployment rate ticked up to 3.9% from 3.7% but that is still historically low Wage growth strengthened to 3.2% from 3.1% in November...
Canada’s Jobs Market Ends 2018 on a Positive Note
Highlights: Employment rose 9k in December, not giving back any of the outsized 94k gain recorded in November. Ontario created 18k new jobs but that was offset by a similar decline in Alberta. The latter’s pullback follows a 24k increase...
Canadian Labour Markets End 2018 on a Softer Note
9.3k more Canadians were working, on net, in December 2018. The unemployment rate remained at 5.6%, as roughly the same number of Canadians joined the labour force. The quality of the gains was somewhat lacking. The net increase was driven...
US: 2018 Job Market Goes Out Like a Lion with 312k New Jobs in December
Hiring activity rebounded sharply in December, with hiring up 312k positions – the biggest increase since February 2018. The strong reading comes on top of significant upward revisions to the prior two months (+58k in total). The unemployment rate did...