labor market – Muhasebe News

U.S. Jobless Claims Rise While Still Signaling Solid Job Market!

MuhasebeNews — Sat, 27 May 2017 09:24:14 +0000

U.S. jobless-benefit claims inched up last week, while still hovering near levels that reflect a strong labor market, Labor Department data showed Thursday.

Highlights of Jobless Claims (Week Ended May 20). Initial benefit filings increased by 1k to 234k.

(Forecast was 238k) Continuing claims rose by 24k to 1.923 mln in week ended May 13 (data reported with one-week lag). Previous week’s initial claims revised to 233,000 from 232,000.

Source: Republic of Turkey Ministry of Economy

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Jobless-Benefit Rolls at 28-Year Low Show U.S. Labor Tightness

MuhasebeNews — Sat, 13 May 2017 06:40:17 +0000

A decline in U.S. jobless-benefit rolls to a 28-year low adds to signs of a tight labor market, as initial unemployment claims also remained subdued, Labor Department figures showed Thursday.

Initial jobless claims decreased by 2,000 to 236,000 (forecast was 245,000). Continuing claims fell by 61,000 to 1.918 mln in week ended April 29 (data reported with one-week lag), the lowest since November 1988.

Source: Republic of Turkey Ministry of Economy

Jobless-Benefit Rolls at 28-Year Low Show U.S. Labor Tightness

MuhasebeNews — Sat, 13 May 2017 06:38:23 +0000

A decline in U.S. jobless-benefit rolls to a 28-year low adds to signs of a tight labor market, as initial unemployment claims also remained subdued, Labor Department figures showed Thursday.

Source: Republic of Turkey Ministry of Economy

Jobless Claims in U.S. Declined More Than Forecast Last Week!

MuhasebeNews — Fri, 05 May 2017 15:25:52 +0000

Filings for U.S. unemployment benefits dropped more than forecast last week, consistent with a robust labor market, a Labor Department report showed Thursday.

Jobless claims decreased by 19,000 to a three-week low of 238,000 (forecast was 248,000) in the week ended April 29. The number of people continuing to receive jobless benefits fell by 23,000 to 1.96 million in the week ended April 22 (data reported with one-week lag), lowest since April 2000.

Source: Republic of Turkey Ministry of Economy General Directorate of Economic Research and Assessment

Fed Holds Interest Rates Steady, Downplays Economic Weakness!

MuhasebeNews — Fri, 05 May 2017 15:17:34 +0000

The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labor market, in a sign it was still on track for two more rate rises this year.

In a bullish statement following the end of a two-day policy meeting, the central bank also said consumer spending continued to be solid, business investment had firmed and inflation has been “running close” to the Fed’s target. “The committee views the slowing in growth during the first quarter as likely to be transitory,” the Fed said in a unanimous statement.

The labor market continued to strengthen even as growth in economic activity slowed and “the fundamentals underpinning the continued growth of consumption remained solid,” policymakers added. The Fed raised its benchmark rate by a quarter percentage point at its last meeting in March to a target range of 0.75% to 1%.

Source: Republic of Turkey Ministry of Economy General Directorate of Economic Research and Assessment

What are the Factors Affecting Inflation in Turkey?

MuhasebeNews — Tue, 02 May 2017 08:22:20 +0000

1. Data for the fourth quarter of 2016 confirmed the conjecture that the third-quarter economic slowdown was transitory. In this period, the Gross Domestic Product (GDP) expanded by 3.8 percent quarter-on-quarter and 3.5 percent year-on-year. Excluding the offset work day losses of the third quarter, the fourth quarter was marked by a moderate growth. The TURKSTAT’s upward revisions to the first three quarters of 2016 showed that the level of economic activity was much higher than anticipated. Hence, the economy grew by 2.9 percent in 2016, a rate much lower than past years’ averages.

2. Annual growth was driven by domestic demand in the last quarter of 2016. Private spending was up both annually and quarterly thanks to the demand brought forward by automobile tax adjustments, eased macro prudential measures and better financial conditions. Investments, particularly machinery and equipment investments, were relatively weak in this period. With exports accelerating in the last quarter, net external demand provided considerably higher contribution to quarterly growth and a slightly better contribution to annual growth compared to the first nine months of 2016.

3. The first-quarter data for 2017 hint at diminishing recovery in economic activity in the first quarter. Following a robust increase in January, industrial production contracted in February. Rapid depreciation of the Turkish lira at the start of the quarter, uncertainties led by volatile financial markets and the leap in inflation are projected to dampen consumption and investment spending. Although tax incentives stimulate the demand for houses, furniture and home appliances, the recovery in domestic demand fails to spread across all sectors. Indicators for March and April signal for a stronger economic activity and labor market. In brief, the mild recovery in the underlying trend of economic activity continues, which is enhanced by supportive incentives and measures.

4. Despite a partial recovery in domestic demand, net external demand spurs growth with robust increases in exports of goods that spill over into all sectors. The growing demand from the European Union economies, normalizing relations with neighboring countries, the course of the real exchange rate, and Turkey’s market-shifting flexibility abroad continues to stimulate exports. Increases in exports of goods translate into a decelerated deterioration in the current account deficit and improvement in core current account deficit indicators. In addition to the expected partial recovery in tourism, the robust course of exports of goods is expected to contribute positively to the current account.

5. The worsening trend in the labor market that began in May 2016 came to a halt in January 2017. In this period, non-farm employment recorded an uptick particularly with the contribution from the services sector. Meanwhile, leading indicators, such as new job vacancies, the PMI employment index and the expectations for the number of employees in services and construction for March and April suggest a recovery in the employment outlook. Amid the mild rebound in economic activity and the announced employment incentive packages, the partial improvement in unemployment rates is expected to continue.

6. In sum, the recently released data indicate a gradual recovery in the economic activity. Domestic demand conditions display a moderate improvement and demand from the European Union economies continues to contribute positively to exports. With the supportive measures and incentives provided recently, the economic activity is expected to gain further pace in the forthcoming period. However, the course of capital flows in line with uncertainties regarding global economic policies, geopolitical developments, the subsided course of the labor market and the lingering volatility in exchange rates may stand out as factors to limit the pace of growth in 2017.

Source: Central Bank of the Turkish Republic

German Inflation Picks Up!

MuhasebeNews — Thu, 27 Apr 2017 12:15:41 +0000

German consumer inflation picks up in April by coming closer to the European Central Bank’s price stability target.

The data from several German states revealed that price pressures are slowly building up as an economic upswing continues and the labor market booms partly due to a rise in transportation costs.

The inflation rate for the entire euro zone is expected to have risen to 1.8% in April from 1.5% in March, according to the economists.

Source: Euronews