Economy

CNN reports: US job growth accelerated much more than anticipated last month, providing further reassurance for the ongoing stability of the labor market. Employers added an estimated 254,000 jobs in September, according to data released Friday by the Bureau of Labor Statistics. That’s a higher tally than August’s monthly total (which was upwardly revised to 159,000) and blows economists’ expectations …

CBS News reports: Thousands of dockworkers at ports from New England to Texas went on strike just after midnight on Tuesday as they rally for higher pay and more job security. The work stoppage, the first at East and Gulf Coast ports since 1977, follows a lengthy impasse in labor talks between the International Longshoremen’s Association (ILA) and the United …

CNN reports: More than 400 economists and former high-ranking US policymakers are endorsing Vice President Kamala Harris and her vision for the American economy, according to a document announcing the endorsement seen by CNN. The mass endorsement lands as Harris tries to erode former President Donald Trump’s lead on the economy, a critical issue that many Americans say could decide …

CBS News reports: The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything from mortgages to credit cards. It is the first drop in the federal funds rate — or …

The Washington Post reports: Inflation eased again in August, cementing expectations that the Federal Reserve is set to cut interest rates next week for the first time since the pandemic’s early days. Data released Wednesday by the Bureau of Labor Statistics showed prices climbed 2.5 percent in the 12 months ending in August. That was a noticeable improvement over the …

Yahoo Finance reports: The US economy added fewer jobs than expected in August while the unemployment ticked lower. Data from the Bureau of Labor Statistics released Friday showed the labor market added 142,000 nonfarm payroll jobs in August, fewer additions than the 165,000 expected by economists. Meanwhile, the unemployment rate fell to 4.2%, from 4.3% in July. August job additions …

The Washington Post reports: The Federal Reserve is ready to cut interest rates, confident that inflation is easing to normal levels and wary of any more slowing in the job market. “The time has come for policy to adjust,” Fed Chair Jerome H. Powell said Friday, in his most anticipated speech of the year. “The direction of travel is clear.” …

ABC News reports: Consumer prices rose 2.9% in July compared to a year ago, cooling slightly from the previous month and extending a monthslong slowdown of price increases. The fresh inflation reading is the lowest since March 2021. The consumer-price index lands just below the 3% rate that economists had expected. Inflation has slowed for five consecutive months, reversing a …

Yahoo Finance reports: The US economy grew at a faster than expected pace in the second quarter. The Bureau of Economic Analysis’s advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.8% during the period, well above the 2% growth expected by economists. The reading came in higher than first …

CNBC reports: The monthly inflation rate dipped in June, providing further cover for the Federal Reserve to start lowering interest rates later this year. The consumer price index, a broad measure of costs for goods and services across the U.S. economy, declined 0.1 from May, putting the 12-month rate at 3%, around its lowest level in more than three years, …

CNBC reports: The U.S. economy again added slightly more jobs than expected in June though the unemployment rate increased, the Labor Department reported Friday. Nonfarm payrolls increased by 206,000 for the month, better than the 200,000 Dow Jones forecast. The unemployment rate unexpectedly climbed to 4.1%, tied for the highest level since October 2021 and providing a conflicting sign for …

CNBC reports: An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. The core personal consumption expenditures price index increased just a seasonally adjusted 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage point from the …

Yahoo Finance reports: A closely-watched report on US inflation showed consumer price increases cooled during the month of May, according to the latest data from the Bureau of Labor Statistics released Wednesday morning. The Consumer Price Index (CPI) remained flat over the previous month and rose 3.3% over the prior year in May — a deceleration from April’s 0.3% month-over-month …

The Wall Street Journal reports: Stock futures are falling and Treasury yields are climbing after the latest jobs report showed hiring in May was far stronger than expected. Employers added 272,000 jobs for the month, easily topping the 190,000 economists forecast. Investors had been eagerly awaiting the payrolls data for more clues on how the economy is faring, and how …

CNBC reports: Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for an increase of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau of Labor Statistics …

NBC News reports: While hundreds of thousands of new residents have flocked to the state on the promise of beautiful weather, no income tax and lower costs, nearly 500,000 left in 2022, according to the most recent census data. Contributing to their move was a perfect storm of soaring insurance costs, a hostile political environment, worsening traffic and extreme weather, …

CNN reports: A massive crane inched closer to Baltimore’s scene of destruction Friday, tasked with clearing up to 4,000 tons of precarious debris that has hampered search crews after this week’s catastrophic collapse of the Francis Scott Key Bridge. The crane – the largest on the East Coast – was headed to the site in the Patapsco River where a …

CNBC reports: Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates. The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly …

CNBC reports: Job creation topped expectations in February and pointed to a still-vibrant U.S. labor market, even though the unemployment rate moved higher Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Economists surveyed by Dow Jones had been looking for payroll growth of 198,000, a step slower from the downwardly revised gain …

“We had a blowout jobs report – more than twice the consensus expectation. Now, I know many of my conservative friends are trying to drill holes in this report. But you know what, folks? It is what it is. It’s a very strong report. “Not every economic stat should be viewed through a political lens. I’ve been in this business …