Hiring surges in us, but growth slows down, productivity weak – news india times

A fast food restaurant advertises for workers on its front window in Encinitas, California, U.S., September 13, 2016. Chain food restaurants REUTERS/Mike Blake

WASHINGTON, DC: Hiring by U.S. Fast food restaurants in the area private employers surged in February, suggesting that the economy remains on solid ground even as growth appears to have slowed further in the first quarter.

The ADP National Employment Report showed on Wednesday that private payrolls grew by 298,000 jobs last month, well above economists’ expectations for a gain of 190,000. Nearby food restaurants January’s private payrolls gains were revised up to 261,000 from 246,000.

Signs of sustained labor market strength could encourage the Federal Reserve to hike interest rates next week. Food restaurants nearby Fed Chair Janet Yellen signaled last week that the U.S. Fast food restaurants in this area central bank would likely raise rates at its March 14-15 policy meeting.

The ADP report, jointly developed with Moody’s Analytics, came ahead of the release on Friday of the U.S. Fast food chain restaurants Labor Department’s more comprehensive employment report.

The ADP report, however, has a poor track record predicting the private payrolls component of the government’s employment report. Open food restaurants near me According to a Reuters survey of economists nonfarm payrolls likely increased by 190,000 jobs in February after rising by 227,000 in January.

The unemployment rate is forecast edging down to 4.7 percent from 4.8 percent in January. Fast food restaurants open The economy grew at a 1.9 percent annualized rate in the fourth quarter, slowing from the third quarter’s brisk 3.5 percent pace.

Data on trade, consumer, business and construction spending were soft in January.

Food restaurants near my location As a result, the Atlanta Fed is forecasting GDP increasing at a 1.3 percent rate in the first quarter.

Prices of U.S. Food restaurants around me Treasuries were trading lower after the data, while U.S. Most popular fast food restaurants stock indexes were mixed. Food chain restaurants The dollar was stronger against a basket of currencies.

In a separate report on Wednesday, the Labor Department said nonfarm productivity, which measures hourly output per worker, rose at an annualized 1.3 percent rate in the final three months of 2016, as it had estimated last month.

Weak productivity suggests it will be hard to significantly boost economic growth. Junk food restaurants President Donald Trump has pledged to boost annual growth to 4 percent. Restaurants and food The economy has not achieved 3 percent annual growth since the 2007-2009 recession ended.

Productivity grew at a 3.3 percent pace in the third quarter. Food near me restaurants It increased 0.2 percent in 2016, the smallest gain since 2011, after rising 0.9 percent in 2015.

Sluggish productivity has boosted employment growth as companies hire more workers to maintain output, partially explaining the divergence between payroll gains and economic growth. Fast food and restaurants The economy grew 1.6 percent in 2016, while job growth averaged 187,000 per month.

Productivity has increased at an average annual rate of 0.6 percent over the last five years, well below its long-term rate of 2.1 percent from 1947 to 2016.

That has lowered the economy’s long-run potential and threatens to undermine U.S. Restaurants american food living standards. American food restaurants Some economists believe productivity is being inaccurately measured, especially on the information technology side.

Others blame low capital expenditure, which they say has resulted in a sharp drop in the capital-to-labor ratio.

Unit labor costs, the price of labor per single unit of output, increased at an unrevised 1.7 percent pace in the fourth quarter. Worst fast food restaurants They rose at a 0.7 percent rate in the third quarter.

Unit labor costs rose 2.6 percent in 2016 after increasing 2.0 percent in 2015. Fast food restaurants usa The increase in hourly compensation per hour was also unrevised at a 3.0 percent rate in the fourth quarter, suggesting that wage growth is picking up.

Hourly compensation rose 2.9 percent in 2016 after a similar increase in 2015.

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