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AI-driven Texas data-centre boom dents entry-level jobs for grads
economy2 days ago

AI-driven Texas data-centre boom dents entry-level jobs for grads

Dallas Fed researchers say rapid AI adoption is linked to unusually high unemployment among Texas college graduates, in a state that hosts the most data-centre capacity. In Q1 2025, postings for AI-exposed occupations fell about 8% relative to less exposed roles, signaling early disruption to entry-level work such as software development and clerical jobs. The findings underscore how AI is reshaping Texas’s labour market amid political debates over data-centre expansion and broader youth unemployment concerns.

via Financial Times|
#artificial-intelligence#data-centres#economy
US Employment Stagnates in September, Signaling Weak Job Growth
economy11 months ago

US Employment Stagnates in September, Signaling Weak Job Growth

Carlyle Group has released its own estimates indicating only 17,000 jobs were created in September, suggesting a weaker US labor market amid conflicting private data and a government shutdown that delayed official employment reports. Despite this, other economic indicators point to a resilient, though cooling, US economy, with broader inflation and GDP growth remaining stable. The discrepancy between employment data and other economic signals highlights uncertainty in the current economic outlook.

via Bloomberg.com|
#carlyle-group#economy#job-market
U.S. Job Market: October Report Reveals Cooling Growth and Rising Openings
economy2 years ago

U.S. Job Market: October Report Reveals Cooling Growth and Rising Openings

The U.S. jobs report for October is expected to show a slowdown in job growth, with economists projecting an increase of about 180,000 jobs. The gains in average hourly earnings are also expected to decelerate. The report may be impacted by major work stoppages, including strikes by the United Automobile Workers. Meanwhile, A.P. Moller-Maersk, a shipping giant, plans to cut at least 10,000 jobs, reflecting a decline in demand for container ships. The labor market is loosening, but companies are still struggling to find available workers while balancing cost concerns. The prospect of a government shutdown looms, which could delay data releases and have broader economic consequences. Despite some gloomy sentiment, the overall economic picture remains positive, with recent wage gains surpassing inflation and labor force participation higher than pre-pandemic levels.

via The New York Times|
#economic-outlook#economy#government-shutdown
China Trade Tensions and Weakness: Market Reactions and Job Gauges
finance3 years ago

China Trade Tensions and Weakness: Market Reactions and Job Gauges

Global markets are experiencing a downturn due to a deepening selloff in China, while awaiting crucial updates on U.S. employment. Hong Kong's Hang Seng index fell over 3%, recording its worst day since March, and Chinese banks listed in Hong Kong saw their worst two-day performance in almost 12 years. Shanghai stocks fell slightly, while Tokyo, Seoul, and European shares experienced heavier losses. Bond markets tightened, with U.S. and European government bond yields rising, and the Federal Reserve's latest policy meeting revealed a hesitant governing committee restating plans for two more interest rate hikes this year. The focus now turns to four critical readouts on the U.S. labor markets, which will likely impact Fed thinking. Additionally, Meta Platforms launched Threads, a direct challenge to Twitter, gaining millions of users in hours.

via Reuters|
#bond-yields#china#fed
Bulls Charge Ahead on Positive Economic Indicators.
finance3 years ago

Bulls Charge Ahead on Positive Economic Indicators.

World markets are still basking in the glow of Friday's US employment reading, with only minor gains in crude oil prices on Saudi Arabia's output cut clouding the picture. The Federal Reserve moving into a blackout period ahead of a June 14 policy decision, futures markets only see just over a one-in-four chance of another rate hike this month. The combined picture was enough to lift the S&P500 and Nasdaq to their highest in almost 10 months on Friday. Meanwhile, US regulators are preparing to tighten rules for large banks, which could raise their capital requirements by 20% on average after a spate of midsize bank failures this year.

via Reuters.com|
#crude-oil-prices#federal-reserve#finance