U.S. Hiring Pace Surges

A family-run concrete business in Michigan, the U.S.’s second-biggest carmaker, the largest railroad and a solar power provider in California are all hiring as industrial companies lead a broad labor-market rebound that’s on pace to add the most jobs in 15 years.

Employment may be headed for a “breakout year” as companies feel more secure adding to payrolls following several years of demand rising only to stumble on threats from U.S. budget standoffs, a debt-ceiling induced default and a European credit crisis, said Marisa Di Natale, a director at Moody’s Analytics.

“It’s the first year in several where we haven’t had some kind of manufactured fiscal showdown in Washington, which weighs on business confidence and consumer confidence,” Di Natale said.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.