Tag Archives: economy

Yahoo Finance reports: The unemployment rate unexpectedly fell in November, reflecting signs that the labor market may not be cooling as quickly as many had initially thought. Data from the Bureau of Labor Statistics showed Friday the unemployment rate was 3.7% down from 3.9% in October, while US economy added 199,000 jobs. The largest jobs increases in Friday’s report were …

ABC News reports: The U.S. economy grew at a blistering pace over three months ending in September, more than doubling growth in the previous quarter and rebuking worries about a possible recession. The robust performance, however, complicates the fight to dial back inflation. Fresh GDP data released on Thursday, which exceeded economist expectations, reinforces other recent indicators of a strong …

CNBC reports: Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington. Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. The unemployment rate was 3.8%, …

Reuters reports: U.S. consumer prices increased by the most in more than a year in August amid a surge in the cost of gasoline, but a moderate rise in underlying inflation could encourage the Federal Reserve to keep interest rates on hold next Wednesday. The consumer price index increased by 0.6% last month, the largest gain since June 2022, the …

The Hill reports: President Biden on Monday bashed former President Trump to mark Labor Day, criticizing jobs and benefits under the previous administration. “The guy who held this job before me was just one of two presidents in history … left office with fewer jobs in America than when he got elected office,” Biden said at the annual Tri-State Labor …

CNBC reports: The U.S. added more jobs than expected in August, a sign of resilience for a labor market under pressure from Federal Reserve interest rate hikes. Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday. However, the unemployment rate was 3.8%, up …

Yahoo Finance reports: The US economy created 187,000 new jobs in July while the unemployment rate fell to 3.5%, the Bureau of Labor Statistics said Friday. Economists had expected job gains to total 200,000 with the unemployment remaining unchanged at 3.6%. Wages, a closely watched indicator of how much leverage workers are exerting in the labor market, rose more than …

The Washington Post reports: A year after inflation soared to the highest level in four decades, prices are returning closer to normal levels, with families and businesses feeling the difference as policymakers debate how much more to slow the economy. Government data released Wednesday showed a notable drop in inflation: Prices rose 3 percent in June compared with the year …

CNN reports: Florida is America’s inflation hotspot because of a persistent problem with sky-high housing costs. The Miami-Fort Lauderdale-West Palm Beach area has the highest inflation rate of metro areas with more than 2.5 million residents, with a 9% inflation rate for the 12 months ended in April. That’s more than double the national average of 4%, according to data …

The Hill reports: Nearly 30 percent of American households comprise a single person, a record high. The U.S. Census shows that “solitaries” made up 8 percent of all households in 1940. The share of solo households doubled to 18 percent in 1970 and more than tripled, to an estimated 29 percent, by 2022. The solo-living movement intersects with several other …

CNBC reports: Employment growth eased in June, taking some steam out of what had been a stunningly strong labor market. But the gain was the 30th consecutive month of jobs gains. Nonfarm payrolls increased 209,000 in June and the unemployment rate was 3.6%, the Labor Department reported Friday. That compared to the Dow Jones consensus estimates for growth of 240,000 …

Yahoo Finance reports: The May jobs report released Friday showed the US economy remains strong with more than 300,000 jobs created last month, while the unemployment rate rose to 3.7%. The US economy added 339,000 nonfarm payroll jobs last month, data from the Bureau of Labor Statistics showed Friday. This marks the 14th-straight month that job creation came in above …

CNBC reports: Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics. The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level …

Axios reports: The U.S. labor market continues to add jobs at a strong pace: Payrolls rose by 236,000 in March, while the unemployment rate ticked down to 3.5%, the lowest level in over a half-century, the Labor Department said on Friday. Employers still have plenty of demand for workers, despite aggressive efforts from the Federal Reserve to cool off the …

Yahoo Finance reports: Inflation showed continued signs of cooling off in February but remained stubbornly high and well above the Federal Reserve’s 2% target in the year’s second month, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) revealed headline inflation rose 0.4% over last month and 6% over the …

The New York Times reports: Employers added 311,000 jobs in February, the Labor Department reported Friday, continuing a hotter-than-anticipated streak that has created abundant opportunities for job seekers while frustrating the Federal Reserve in its drive to contain stubborn inflation. The unemployment rate ticked up to 3.6 percent, still an exceptionally low level brought about both by robust job creation …

The Los Angeles Times reports: The California exodus has shown no sign of slowing down as the state’s population dropped by more than 500,000 people between April 2020 and July 2022, with the number of residents leaving surpassing those moving in by nearly 700,000. The population decrease was second only to New York, which lost about 15,000 more people than …

Mediate reports: Fox Business anchor Maria Bartiromo let out a “Wow!” as Fox Business Network correspondent Cheryl Casone ticked through a January jobs report that had the entire panel gushing and saying they were “Gobsmacked!” Friday morning saw the release of a new jobs report from the Bureau of Labor Statistics that showed 517,000 jobs added, nearly tripling expectations. Including …

The Washington Post reports: The labor market shattered expectations in January, as the economy added 517,000 jobs, despite tens of thousands of layoffs in the tech sector. The unemployment rate dropped to 3.4 percent, according to data released Friday from the Bureau of Labor Statistics, reaching a new longtime low. The uptick in high-profile layoffs has not been reflected in …

The New York Times reports: Economic growth remained solid at the end of last year as the strong job market and cooling inflation allowed Americans to keep spending despite fears of a recession. U.S. gross domestic product, adjusted for inflation, increased at an annual rate of 2.9 percent in the fourth quarter of 2022, the Commerce Department said Thursday. That …