Insights
EV Forward: Employment

Featured

 


Latest

2020 Outlook


Monthly Market Monitor

Concise economic and asset class data in clear, impactful charts.

Download

Filter All Insights

Use the form below to filter insights by Topic Category or Content Type.

Topic Category

Content Type

Affiliate

Filter Insights by Date:     or  Show recent results
The article below is presented as a single post. Click here to view all posts.

All Articles ()

There are currently no articles for this filter

By Andrew Szczurowski, CFAPortfolio Manager, Global Income Group, Eaton Vance Management

Boston - The U.S. unemployment rate sits at a 50-year low of 3.6%, down from 5% three years ago.

With over 7 million job openings and only 5.8 million unemployed workers reported for October, we think the jobless rate could fall into the low 3% range in 2020.

Employment growth will likely slow over the coming year — not because the U.S. economy is going into a recession, but because we are running out of workers.

As so much of the slack has already been taken out of the labor market, we expect to see average monthly gains closer to the 100,000 jobs needed to keep up with growth in the labor force, rather than the 200,000 jobs added from 2016 to 2018.

We look for wage gains to continue to rise slowly — and wage inflation to creep higher — as employees are able to flex their muscles and companies have to fight to fill open positions.

The views expressed in these posts are those of the authors and are current only through the date stated. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions for Eaton Vance are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance strategy. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness.