Job Growth Zoomed in March as Payrolls Jumped by 303,000 and Unemployment Dropped to 3.8% (Micro News for April 6, 2024 – April 12, 2024)

The U.S. labor market continues to run hot and exceed expectations with regard to job creation. The Labor Department's Bureau of Labor Statistics (BLS) released data for February 2024 that show the economy created 303,000 nonfarm jobs during the month. The consensus estimate was for a 200,000 job gain for the month. The gain pushed the nation's unemployment rate down to 3.8% despite an increase in the labor force participation rate.

UAW Threatens to Strike Ford Truck Plant in Kentucky if Local Issues Aren’t Resolved (Micro News for February 17, 2024 – February 23, 2024)

Ford's truck plant based in Kentucky may be shut down due to a strike if the United Auto Workers (UAW) demands are not met. The Kentucky facility produces Ford's biggest pickups and SUVs and is the largest facility in terms of revenue generation and employee headcount.

New Zealand Labor Pool Expansion Slows as Migrant Inflow Peaks (Micro News for January 6, 2024 – January 12, 2024)

New Zealand's flood of migrant workers entering the country slowed during the last two quarters. Statistics estimate that only 24,500 new migrant workers entered the country in the fourth quarter of 2023, which brings the total in the country to almost 4.3 million. The influx increased the demand for housing and prompted the nation's central bank to state that inflation may increase due to the price pressure.

GM and the UAW Come to Tentative Agreement (Micro News for October 28, 2023 – November 3, 2023)

The United Auto Workers (UAW) union and General Motors (GM) tentatively agreed on terms to end the strike after the UAW expanded the strike to a plant in Texas. The strike at the Texas plant alone is estimated to cost GM $130 million per week. To date, the total costs to GM of the UAW strike are over $800 million.