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E-Clinical Solutions Market Size to Surpass USD 20.54 Billion by 2029, Size, Share, Emerging Trends, Business Strategies and Competitive Landscape

E-Clinical Solutions Market Size to Surpass USD 20.54 Billion by 2029, Size, Share, Emerging Trends, Business Strategies and Competitive Landscape
PR Newswire
BOSTON, Jan. 12, 2023

BOSTON, Jan. 12, 2023 /PRNewswire/ — Data Bridge Market Research h…

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E-Clinical Solutions Market Size to Surpass USD 20.54 Billion by 2029, Size, Share, Emerging Trends, Business Strategies and Competitive Landscape

PR Newswire

BOSTON, Jan. 12, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "E-Clinical Solutions Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. An all-inclusive E-Clinical Solutions report includes a range of inhibitors as well as driving forces of the market which are analysed in both qualitative and quantitative approach so that readers and users get precise information and insights about E-Clinical Solutions industry. Statistical data mentioned in the report is symbolized with the help of graphs which simplifies the understanding of facts and figures. The market report helps define commerce strategies to the businesses of small, medium as well as large size. The analysis and estimations conducted via the finest E-Clinical Solutions business report help to get an idea about the product launches, future products, joint ventures, marketing strategy, developments, mergers and acquisitions and effect of the same on sales, marketing, promotions, revenue, import, export, and CAGR values.


Data Bridge Market Research analyses that the e-clinical solutions market which was USD 7.2 billion in 2021, would rocket up to USD 20.54 billion by 2029, and is expected to undergo a CAGR of 14.0% during the forecast period 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Download Sample Copy of E-Clinical Solutions Market @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-eclinical-solutions-market

Market Overview:

Electronic health records, electronic permission forms, integrating e-technologies, electronic data collection, and clinical data management systems are all part of the e-clinical solutions industry. E-clinical solutions provide end-to-end clinical research solutions are provided by e-clinical solutions, which enable researchers to manage the lengthy clinical research process. It assists clinical research businesses with regulatory document management, team collaboration and supply chain management, site performance management, and reporting, all driving demand for e-clinical solutions in the projection period.

According to World Economic Forum estimates from 2019, hospitals produce roughly 50 petabytes of data per year. Clinical notes, lab tests, medical imaging, sensor readings, genomics, and operational and financial data are all included in the data. In this domain, e-clinical solutions are projected to have a substantial influence. The amount of data produced by the Internet of Things (IoT) and the digitization of healthcare is immense, and it contains information that can be quickly retrieved through electronic data mining, which was previously unattainable with paper records.

Opportunities for Players:

  • Growing clinical research activities and government support in emerging economies

In the future years, the expanding clinical trials efforts in emerging nations such as Indonesia, Mexico, China, India, and Brazil to create affordable therapies are projected to present attractive prospects in the worldwide eClinical solutions market. Furthermore, rising government grants to reform public healthcare and offer more people with easier access to pharmaceuticals would propel the eClinical market forward during the projection period. Furthermore, because to the rapid rise of pharmaceutical companies in emerging economies such as India and China, it is estimated that roughly 28% of total clinical trials were undertaken in Asia.

  • Rising government grants and financing for clinical trials

The rapid expansion of clinical research activities in developing economies and a shift in preference from manual data interpretation to real-time data analysis during clinical trials will continue to drive the global eClinical solutions market.

Some of the major players operating in the E-Clinical Solutions market are:

  • Parexel International Corporation (US)
  • Oracle (US)
  • Medidata Solutions, Inc. (US)
  • Veeva Systems (U.S)
  • ERT Clinical (US)
  • IBM Corporation (US)
  • Clario (U.S.)
  • ArisGlobal (U.S.)
  • Anju Software, Inc's (U.S.)
  • Bio-Optronics, Inc. (U.S.)
  • DATATRAK Int. (U.S.)
  • ICON (U.S.)
  • MasterControl, Inc.(U.S.)
  • OmniComm Systems, Inc. (US)
  • RESONANCE HEALTH (Australia)
  • Signant Health (US)
  • Xybion Corporation (US)

Get Full PDF Research Report to Understand More @ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-eclinical-solutions-market

Recent Development

  • In April 2021, With the advent of SmartSignalsTM e-consent, Signant Health has expanded its electronic informed consent options and capabilities. Sponsors now have more control over getting electronic informed consent and re-consent for any research design thanks to changes to key products' functionality and tiered licence options.
  • On July 21, 2021e-clinical Solutions LLC has launched the latest update of the illuminating Clinical Data CloudTM, which includes new visualizations, enhanced analytics, and increased automation of data review and mapping capabilities across the platform.

Answers That the Report Acknowledges:

  • Market size and growth rate during forecast period.
  • Key factors driving the "E-Clinical Solutions Industry"
  • Key market trends cracking up the growth of the "E-Clinical Solutions Market"
  • Challenges to market growth.
  • Key vendors of "E-Clinical Solutions Market"
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global "E-Clinical Solutions Market" market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.

Market Dynamics: E-Clinical Solutions Market

  • Upsurge in the research and development proficiencies

Other market growth variables include an increase in the use rate of e-clinical solutions for greater data standardization and an increase in government funding and grants to assist clinical studies. Other major variables that will offer attractive market growth prospects include increasing westernization, increasing acceptance of novel software solutions in clinical research, and increasing medical tourism

  • Increasing R&D expenditure on drug development

The increasing adoption of e-clinical solutions among pharmaceutical and medical device companies to reduce the number of challenges encountered while commercializing existing and developing new products is one of the major factors driving the global e-clinical solutions market forward during the forecast period of 2022 to 2029. Furthermore, as the costs and hazards of creating novel therapies, particularly those related to drug trials, continue to rise, global demand for e-clinical solutions is projected to rise.

  • Significant growth in the biopharmaceutical industries

Pharmaceutical companies use e-clinical solutions to obtain regulatory approval for newly discovered medicines and drugs. Furthermore, the rising frequency of chronic medical conditions and the growing elderly population, both of which require rapid medical attention, are propelling the market forward. As the coronavirus disease (COVID-19) continues to spread over the world, the demand for eClinical solutions to create and monitor vaccine administration and manage patient data has grown significantly. In accordance with this, healthcare providers' increased embrace of smart medical devices for greater data standards is also fueling market expansion.

To Gain More Insights about this Research, Visit @ https://www.databridgemarketresearch.com/reports/global-eclinical-solutions-market

Key Industry Segmentation: E-Clinical Solutions Market

By Product

By Delivery Mode

  • Web-hosted (On-Demand)
  • Licensed Enterprise (On-premise)
  • Cloud-based/software-as-a-service (SaaS)

By Development Phase

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

By End-User

  • Academic Institutes
  • Medical Device Manufactures
  • Hospitals
  • CROs
  • Pharmaceutical & Biotechnology Companies

Regional Analysis/Insights: E-Clinical Solutions Market

The countries covered in the e-clinical solutions market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and Rest of Europe in Europe.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Table of Contents:

  1. Introduction
  2. Market Segmentation
  3. Executive Summary
  4. Premium Insights
  5. Global E-Clinical Solutions Market: Regulations
  6. Market Overview
  7. Global E-Clinical Solutions Market, By Product
  8. Global E-Clinical Solutions Market, By Delivery Mode
  9. Global E-Clinical Solutions Market, By Development Phase
  10. Global E-Clinical Solutions Market, By End User
  11. Global E-Clinical Solutions Market, By Region
  12. Global E-Clinical Solutions Market: Company Landscape
  13. SWOT Analyses
  14. Company Profile
  15. Questionnaires
  16. Related Reports

To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-eclinical-solutions-market

Explore More Reports:

Europe e-Clinical Solutions Market, By Product (Electronic Clinical Outcome Assessment (ECOA), Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Clinical Analytics Platforms, Randomization and Trial Supply Management (RTSM), Clinical Data Integration Platforms, Safety Solutions, Electronic Trial Master File Systems, Regulatory Information Management Solutions and Other e-Clinical Solutions), Deployment (Web-Hosted (On-Demand) Solutions, Cloud-Based (SaaS) Solutions and Licensed Enterprise (On-Premise) Solutions), Clinical Trial Phase (Phase I, Phase II, Phase III and Phase IV), End-User (Hospital/Healthcare Provider, Contract Research Organizations (CROS), Pharma and Biotech Organizations, Medical Device Manufacturers, Consulting Service Companies and Academic Institutes) https://www.databridgemarketresearch.com/reports/europe-e-clinical-solutions-market

Asia-Pacific eClinical Solutions Market, By Product (Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Clinical Trial Management Systems (CTMS), Electronic Clinical Outcome Assessment (ECOA), Electronic Trial Master File Systems, Clinical Analytics Platforms, Safety Solutions, Regulatory Information Management Solutions, Clinical Data Integration Platforms, Other), Deployment Mode (Web-Hosted (On-Demand) Solutions, Cloud-Based (SaaS) Solutions, Licensed Enterprise (On-Premise) Solutions), Clinical Trial Phase (Phase I, Phase II, Phase III, Phase IV), End User (Hospital/Healthcare Provider, Contract Research Organizations (CROS), Pharma and Biotech Organizations, Medical Device Manufacturers, Consulting Service Companies, Academic Institutes), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) https://www.databridgemarketresearch.com/reports/asia-pacific-eclinical-solutions-market

Europe eClinical Solutions Market, By Product (Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Clinical Trial Management Systems (CTMS), Electronic Clinical Outcome Assessment (ECOA), Electronic Trial Master File Systems, Clinical Analytics Platforms, Safety Solutions, Regulatory Information Management Solutions, Clinical Data Integration Platforms and Other), Deployment Mode (Web-Hosted (On-Demand) Solutions, Cloud-Based (SaaS) Solutions and Licensed Enterprise (On-Premise) Solutions), Clinical Trial Phase (Phase I, Phase II, Phase III and Phase IV), End User (Hospital/Healthcare Provider, Contract Research Organizations (CROS), Pharma and Biotech Organizations, Medical Device Manufacturers, Consulting Service Companies and Academic Institutes), Country (Germany, United Kingdom, Italy, France, Russia, Switzerland, Netherlands, Spain, Turkey, Belgium and Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-eclinical-solutions-market

Middle East and Africa eClinical Solutions Market, By Product (Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Clinical Trial Management Systems (CTMS), Electronic Clinical Outcome Assessment (ECOA), Electronic Trial Master File Systems, Clinical Analytics Platforms, Safety Solutions, Regulatory Information Management Solutions, Clinical Data Integration Platforms and Other), Deployment Mode (Web-Hosted (On-Demand) Solutions, Cloud-Based (SaaS) Solutions and Licensed Enterprise (On-Premise) Solutions), Clinical Trial Phase (Phase I, Phase II, Phase III and Phase IV), End User (Hospital/Healthcare Provider, Contract Research Organizations (CROS), Pharma and Biotech Organizations, Medical Device Manufacturers, Consulting Service Companies and Academic Institutes), Country (South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-eclinical-solutions-market

North America eClinical Solutions Market, By Product (Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Clinical Trial Management Systems (CTMS), Electronic Clinical Outcome Assessment (ECOA), Electronic Trial Master File Systems, Clinical Analytics Platforms, Safety Solutions, Regulatory Information Management Solutions, Clinical Data Integration Platforms and Other), Deployment Mode (Web-Hosted (On-Demand) Solutions, Cloud-Based (SaaS) Solutions and Licensed Enterprise (On-Premise) Solutions), Clinical Trial Phase (Phase I, Phase II, Phase III and Phase IV), End User (Hospital/Healthcare Provider, Contract Research Organizations (CROS), Pharma and Biotech Organizations, Medical Device Manufacturers, Consulting Service Companies and Academic Institutes), Country (U.S., Canada and Mexico) https://www.databridgemarketresearch.com/reports/north-america-eclinical-solutions-market

Clinical Laboratory Services Market, By Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing and Genetic Testing), Provider (Independent and Reference Laboratories, Hospital-Based Laboratories and Nursing and Physician Office-Based Laboratories), Application (Drug Discovery Related Services, Drug Development Related Services, Bioanalytical and Lab Chemistry Services, Toxicology Testing Services, Cell and Gene Therapy Related Services, Preclinical and Clinical Trial Related Services and Other Clinical Laboratory Services), Service Type (Routine Testing Services, Esoteric Services And Anatomic Pathology Services) https://www.databridgemarketresearch.com/reports/global-clinical-laboratory-services-market

Clinical Trial Consumables Market, By Service (Manufacturing, Packaging and Labeling, Logistics and Distribution), Phase (Phase I, Phase II, Phase III), Therapeutic Area (Oncology, CNS and Mental Disorders, Cardiovascular Diseases, Infectious Diseases, Respiratory Diseases, Blood Disorders, Dermatology, Others), End User (Pharmaceutical and Biotechnology companies, Contract Research Organisations (CROs) and Medical Devices Companies), Distribution Channel (Dermatology Clinics, Hospitals, Pharmacies and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of the Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-clinical-trial-consumables-market

Clinical Trials Market, By Phase (Phase I, Phase II, Phase III, Phase IV), Indication (Autoimmune/Inflammation, Pain Management, Oncology, CNS Condition, Diabetes, Obesity, Cardiovascular, Others), Design (Interventional, Treatment Studies, Observational Studies, Expanded Access), End User (Hospital, Laboratories, Clinics), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-clinical-trials-market

Clinical Chemistry Analyzer Market, By Product (Analyzers, Reagents, Calibrators, Controls, Standards, Others, Others) Analyzer Technology (Semi-Automated Clinical Chemistry Analyzers, Fully Automated Clinical Chemistry Analyzers)  Test Analysis (Basic Metabolic Panel(BMP), Liver Panel, Electrolyte Panel, Renal Profile, Lipid Profile, Specialty Chemical Tests, Thyroid Function Panel) End User Analysis (Hospitals, Academic Research Centers, Diagnostic Laboratories, Others) https://www.databridgemarketresearch.com/reports/global-clinical-chemistry-analyzer-market

Clinical Trial Management System (CTMS) Market, By Type (Enterprise, Site),  Delivery (Web-Based, Cloud-Based, and On premise), Component (Software, Service), End User (Pharmaceutical and Biotechnology Firms, CROs, and Medical Device Firms), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of the Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-clinical-trial-management-system-market

About Data Bridge Market Research:

An absolute way to forecast what future holds is to comprehend the trend today!

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.

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February Employment Situation

By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…

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By Paul Gomme and Peter Rupert

The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.

Temporary help services employment continues a steep decline after a sharp post-pandemic rise.

Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.

The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.

The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.

Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.

As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.

Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.

The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.

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Mortgage rates fall as labor market normalizes

Jobless claims show an expanding economy. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.

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Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Instead, the 10-year yield had a muted response after the headline number beat estimates, but we have negative job revisions from previous months. The Federal Reserve’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%. For now, we can say the labor market isn’t tight anymore, but it’s also not breaking.

The key labor data line in this expansion is the weekly jobless claims report. Jobless claims show an expanding economy that has not lost jobs yet. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.

From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. The four-week moving average declined slightly by 750, to 212,250


Below is an explanation of how we got here with the labor market, which all started during COVID-19.

1. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. 9, 2020. By that time, the upfront recovery phase was done, and I needed to model out when we would get the jobs lost back.

2. Early in the labor market recovery, when we saw weaker job reports, I doubled and tripled down on my assertion that job openings would get to 10 million in this recovery. Job openings rose as high as to 12 million and are currently over 9 million. Even with the massive miss on a job report in May 2021, I didn’t waver.

Currently, the jobs openings, quit percentage and hires data are below pre-COVID-19 levels, which means the labor market isn’t as tight as it once was, and this is why the employment cost index has been slowing data to move along the quits percentage.  

2-US_Job_Quits_Rate-1-2

3. I wrote that we should get back all the jobs lost to COVID-19 by September of 2022. At the time this would be a speedy labor market recovery, and it happened on schedule, too

Total employment data

4. This is the key one for right now: If COVID-19 hadn’t happened, we would have between 157 million and 159 million jobs today, which would have been in line with the job growth rate in February 2020. Today, we are at 157,808,000. This is important because job growth should be cooling down now. We are more in line with where the labor market should be when averaging 140K-165K monthly. So for now, the fact that we aren’t trending between 140K-165K means we still have a bit more recovery kick left before we get down to those levels. 




From BLS: Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.

Here are the jobs that were created and lost in the previous month:

IMG_5092

In this jobs report, the unemployment rate for education levels looks like this:

  • Less than a high school diploma: 6.1%
  • High school graduate and no college: 4.2%
  • Some college or associate degree: 3.1%
  • Bachelor’s degree or higher: 2.2%
IMG_5093_320f22

Today’s report has continued the trend of the labor data beating my expectations, only because I am looking for the jobs data to slow down to a level of 140K-165K, which hasn’t happened yet. I wouldn’t categorize the labor market as being tight anymore because of the quits ratio and the hires data in the job openings report. This also shows itself in the employment cost index as well. These are key data lines for the Fed and the reason we are going to see three rate cuts this year.

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Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Last month we though that the January…

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Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Last month we though that the January jobs report was the "most ridiculous in recent history" but, boy, were we wrong because this morning the Biden department of goalseeked propaganda (aka BLS) published the February jobs report, and holy crap was that something else. Even Goebbels would blush. 

What happened? Let's take a closer look.

On the surface, it was (almost) another blockbuster jobs report, certainly one which nobody expected, or rather just one bank out of 76 expected. Starting at the top, the BLS reported that in February the US unexpectedly added 275K jobs, with just one research analyst (from Dai-Ichi Research) expecting a higher number.

Some context: after last month's record 4-sigma beat, today's print was "only" 3 sigma higher than estimates. Needless to say, two multiple sigma beats in a row used to only happen in the USSR... and now in the US, apparently.

Before we go any further, a quick note on what last month we said was "the most ridiculous jobs report in recent history": it appears the BLS read our comments and decided to stop beclowing itself. It did that by slashing last month's ridiculous print by over a third, and revising what was originally reported as a massive 353K beat to just 229K,  a 124K revision, which was the biggest one-month negative revision in two years!

Of course, that does not mean that this month's jobs print won't be revised lower: it will be, and not just that month but every other month until the November election because that's the only tool left in the Biden admin's box: pretend the economic and jobs are strong, then revise them sharply lower the next month, something we pointed out first last summer and which has not failed to disappoint once.

To be fair, not every aspect of the jobs report was stellar (after all, the BLS had to give it some vague credibility). Take the unemployment rate, after flatlining between 3.4% and 3.8% for two years - and thus denying expectations from Sahm's Rule that a recession may have already started - in February the unemployment rate unexpectedly jumped to 3.9%, the highest since February 2022 (with Black unemployment spiking by 0.3% to 5.6%, an indicator which the Biden admin will quickly slam as widespread economic racism or something).

And then there were average hourly earnings, which after surging 0.6% MoM in January (since revised to 0.5%) and spooking markets that wage growth is so hot, the Fed will have no choice but to delay cuts, in February the number tumbled to just 0.1%, the lowest in two years...

... for one simple reason: last month's average wage surge had nothing to do with actual wages, and everything to do with the BLS estimate of hours worked (which is the denominator in the average wage calculation) which last month tumbled to just 34.1 (we were led to believe) the lowest since the covid pandemic...

... but has since been revised higher while the February print rose even more, to 34.3, hence why the latest average wage data was once again a product not of wages going up, but of how long Americans worked in any weekly period, in this case higher from 34.1 to 34.3, an increase which has a major impact on the average calculation.

While the above data points were examples of some latent weakness in the latest report, perhaps meant to give it a sheen of veracity, it was everything else in the report that was a problem starting with the BLS's latest choice of seasonal adjustments (after last month's wholesale revision), which have gone from merely laughable to full clownshow, as the following comparison between the monthly change in BLS and ADP payrolls shows. The trend is clear: the Biden admin numbers are now clearly rising even as the impartial ADP (which directly logs employment numbers at the company level and is far more accurate), shows an accelerating slowdown.

But it's more than just the Biden admin hanging its "success" on seasonal adjustments: when one digs deeper inside the jobs report, all sorts of ugly things emerge... such as the growing unprecedented divergence between the Establishment (payrolls) survey and much more accurate Household (actual employment) survey. To wit, while in January the BLS claims 275K payrolls were added, the Household survey found that the number of actually employed workers dropped for the third straight month (and 4 in the past 5), this time by 184K (from 161.152K to 160.968K).

This means that while the Payrolls series hits new all time highs every month since December 2020 (when according to the BLS the US had its last month of payrolls losses), the level of Employment has not budged in the past year. Worse, as shown in the chart below, such a gaping divergence has opened between the two series in the past 4 years, that the number of Employed workers would need to soar by 9 million (!) to catch up to what Payrolls claims is the employment situation.

There's more: shifting from a quantitative to a qualitative assessment, reveals just how ugly the composition of "new jobs" has been. Consider this: the BLS reports that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Well, that's great... until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).

Here is a summary of the labor composition in the past year: all the new jobs have been part-time jobs!

But wait there's even more, because now that the primary season is over and we enter the heart of election season and political talking points will be thrown around left and right, especially in the context of the immigration crisis created intentionally by the Biden administration which is hoping to import millions of new Democratic voters (maybe the US can hold the presidential election in Honduras or Guatemala, after all it is their citizens that will be illegally casting the key votes in November), what we find is that in February, the number of native-born workers tumbled again, sliding by a massive 560K to just 129.807 million. Add to this the December data, and we get a near-record 2.4 million plunge in native-born workers in just the past 3 months (only the covid crash was worse)!

The offset? A record 1.2 million foreign-born (read immigrants, both legal and illegal but mostly illegal) workers added in February!

Said otherwise, not only has all job creation in the past 6 years has been exclusively for foreign-born workers...

Source: St Louis Fed FRED Native Born and Foreign Born

... but there has been zero job-creation for native born workers since June 2018!

This is a huge issue - especially at a time of an illegal alien flood at the southwest border...

... and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding a more accurate explanation for what happened - i.e., the illegal immigration floodgates that were opened by the Biden admin.

Which is also why Biden's handlers will do everything in their power to insure there is no official recession before November... and why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get even more ridiculous.

Tyler Durden Fri, 03/08/2024 - 13:30

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