Oxford Economics and the Semiconductor Industry Association released a report in July showing that there are expected to be 85,000 new technical jobs available in the industry by 2030. Still, the report projects that up to 80% of these available jobs may go unfilled.

Slowdowns in immigration are proving to be one of the main factors leading to the labor shortage, with foreign workers making up one-third of the semiconductor industry’s labor force.

Taiwan’s TSMC, which was scheduled to open a plant in Arizona in 2024, revealed that a shortage of workers has led the company to postpone its opening. “While we are working to improve the situation, including sending experienced technicians from Taiwan to train the local skilled workers for a short period of time, we expect the production schedule of N4 process technology to be pushed out to 2025,” Chairman Mark Liu explained.

The post American Semiconductor Industry Threatened By Labor Shortage appeared first on theprimarymarket.com.

Economists polled by Bloomberg forecast a rise in nonfarm payrolls of 225,000 in June. While one of the smallest increases since the end of 2020, this remains a positive development as the U.S. job market continues to grow following its pandemic-induced slump.

The report, due to be released on Friday, is expected to show that unemployment decreased to 3.6%, while average hourly earnings grew 4.2% from July 2022.

Despite positive projections, Bloomberg Economics remains skeptical of market optimism.

“Wall Street analysts and economists are increasingly optimistic that the US economy is heading for a soft-landing scenario”, Bloomberg Economics stated. “We disagree. A key source of past resilience in the economy – households’ financial buffer – is fast disappearing. As a result, consumer delinquencies and small business bankruptcies are rising fast.”

Other figures that are expected include weekly unemployment claims, job cuts, private payrolls, and May job openings.

The post Incoming U.S. Labor Market Readings Expected to Show Job Growth appeared first on theprimarymarket.com.

Data from the Department of Labor on Thursday showed that applications for unemployment benefits in the U.S. fell by 16,000 to 230,000 for the week ending April 22. Over 1.86 million people were claiming unemployment benefits that week, down 3,000 from the previous week.

While jobless claims are higher than the 200,000 submitted at the start of the year, the U.S. labor market remains strong by historic standards. 236,000 jobs were added in March, lower than the 472,000 in January and the 326,000 in February but still historically strong.

Federal Reserve officials worry that the strong labor market could put pressure on wages and in turn prices, thereby undermining the fight to control inflation. While inflation was 5% year-over-year in March, it remains higher than the Fed’s 2% annual inflation target.

The post Labor Market Remains Strong as Jobless Claims Fall appeared first on theprimarymarket.com.

The report indicates that there have been 1.9 job openings for every unemployed American in the first month of 2023. Experts believe that this will prompt Federal Reserve to consider job market conditions “too hot” for their efforts to fight inflation, causing further interest rate hikes in an attempt to produce a “cool down” effect. 

“The decline in job openings does not indicate any meaningful improvement in the balance between labor demand and labor supply from the perspective of the Fed,” Conrad DeQuadros, senior economic advisor at Brean Capital, told Reuters.

The labor demand continues to hit new historic highs. The 10.8 million job openings in January mean that there have been 20 straight months in which there were at least 10 million jobs available. This hasn’t happened since Labor Department started tracking data in 2000. Also, unemployment in the U.S. in January was the lowest since 1969 at 3.4%.

The Fed will probably see some positives in the JOLTS report, like the fact that the rate of layoffs increased, especially in the tech industry. Also, there have been fewer people willingly quitting their jobs, with 3.9 million being the fewest since May 2011.

The post Job Openings in U.S. Dip to 10.8 Million But Still Considered High appeared first on theprimarymarket.com.

Oxford Economics and the Semiconductor Industry Association released a report in July showing that there are expected to be 85,000 new technical jobs available in the industry by 2030. Still, the report projects that up to 80% of these available jobs may go unfilled.

Slowdowns in immigration are proving to be one of the main factors leading to the labor shortage, with foreign workers making up one-third of the semiconductor industry’s labor force.

Taiwan’s TSMC, which was scheduled to open a plant in Arizona in 2024, revealed that a shortage of workers has led the company to postpone its opening. “While we are working to improve the situation, including sending experienced technicians from Taiwan to train the local skilled workers for a short period of time, we expect the production schedule of N4 process technology to be pushed out to 2025,” Chairman Mark Liu explained.

The post American Semiconductor Industry Threatened By Labor Shortage appeared first on theprimarymarket.com.

Economists polled by Bloomberg forecast a rise in nonfarm payrolls of 225,000 in June. While one of the smallest increases since the end of 2020, this remains a positive development as the U.S. job market continues to grow following its pandemic-induced slump.

The report, due to be released on Friday, is expected to show that unemployment decreased to 3.6%, while average hourly earnings grew 4.2% from July 2022.

Despite positive projections, Bloomberg Economics remains skeptical of market optimism.

“Wall Street analysts and economists are increasingly optimistic that the US economy is heading for a soft-landing scenario”, Bloomberg Economics stated. “We disagree. A key source of past resilience in the economy – households’ financial buffer – is fast disappearing. As a result, consumer delinquencies and small business bankruptcies are rising fast.”

Other figures that are expected include weekly unemployment claims, job cuts, private payrolls, and May job openings.

The post Incoming U.S. Labor Market Readings Expected to Show Job Growth appeared first on theprimarymarket.com.

Data from the Department of Labor on Thursday showed that applications for unemployment benefits in the U.S. fell by 16,000 to 230,000 for the week ending April 22. Over 1.86 million people were claiming unemployment benefits that week, down 3,000 from the previous week.

While jobless claims are higher than the 200,000 submitted at the start of the year, the U.S. labor market remains strong by historic standards. 236,000 jobs were added in March, lower than the 472,000 in January and the 326,000 in February but still historically strong.

Federal Reserve officials worry that the strong labor market could put pressure on wages and in turn prices, thereby undermining the fight to control inflation. While inflation was 5% year-over-year in March, it remains higher than the Fed’s 2% annual inflation target.

The post Labor Market Remains Strong as Jobless Claims Fall appeared first on theprimarymarket.com.

The report indicates that there have been 1.9 job openings for every unemployed American in the first month of 2023. Experts believe that this will prompt Federal Reserve to consider job market conditions “too hot” for their efforts to fight inflation, causing further interest rate hikes in an attempt to produce a “cool down” effect. 

“The decline in job openings does not indicate any meaningful improvement in the balance between labor demand and labor supply from the perspective of the Fed,” Conrad DeQuadros, senior economic advisor at Brean Capital, told Reuters.

The labor demand continues to hit new historic highs. The 10.8 million job openings in January mean that there have been 20 straight months in which there were at least 10 million jobs available. This hasn’t happened since Labor Department started tracking data in 2000. Also, unemployment in the U.S. in January was the lowest since 1969 at 3.4%.

The Fed will probably see some positives in the JOLTS report, like the fact that the rate of layoffs increased, especially in the tech industry. Also, there have been fewer people willingly quitting their jobs, with 3.9 million being the fewest since May 2011.

The post Job Openings in U.S. Dip to 10.8 Million But Still Considered High appeared first on theprimarymarket.com.