Tag Archives: economy

Newsweek reports: U.S. layoffs surged in July to their highest level since the early months of the COVID-19 pandemic. In July, there were 62,075 job cuts announced, according to a report by outplacement firm Challenger, Gray & Christmas. That’s a 29 percent jump from June and 140 percent higher than the 25,885 announced in July 2024. The July figure is …

CNBC reports: Nonfarm payroll growth was slower than expected in July and the unemployment rate ticked higher, raising potential trouble signs for the U.S. labor market. Job growth totaled 73,000 for the month, above the June total of 14,000 but below even the meager Dow Jones estimate for a gain of 100,000. June and May totals were revised sharply lower, …

CBS News reports: The Federal Reserve on Wednesday said it’s keeping its benchmark interest rate unchanged, marking a continuation of its “wait-and-see” strategy this year, as it monitors the impact of the Trump administration’s tariffs on consumer prices. The central bank on Wednesday said it would maintain the federal funds rate at its current range of 4.25% to 4.5%. The …

The New York Times reports: Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month. The Consumer Price Index rose 2.7 percent from a year ago, the swiftest pace since February, data released by the Bureau …

The Washington Post reports: Employers created 147,000 jobs in June, close to the pace of job creation in May, despite economic uncertainty that has strained the labor market. The unemployment rate ticked down to 4.1 percent, according to a jobs report released Thursday by the Labor Department. Businesses have been adding jobs at a slower pace this year compared to …

The New York Times reports: The global economy is projected to slow sharply this year as President Trump’s trade policy disrupts international commerce and increases economic uncertainty, the World Bank said on Tuesday in a report that underscores the toll of America’s trade war. The trade tension is setting the stage for the weakest decade of growth since the 1960s. …

The New York Times reports: The labor market persevered in May, continuing a consistent run of job creation that has outlasted inflation, interest rate increases and now an on-again-off-again trade war. Employers added 139,000 jobs last month, the Labor Department reported Friday, about in line with economists’ expectations. The steady hiring is an indication that businesses are still seeing enough …

Politico reports: After Latino voters moved toward President Donald Trump in November, a new in-depth survey of this demographic shows their support for him could be breaking, according to polling shared first with POLITICO. Throughout the president’s first few months in office, his favorability among Latinos is crashing, especially among independents and women, according to a new poll conducted by …

USA Today reports: Rite Aid added 68 more locations to its list of closures in a May 9 filing in the U.S. Bankruptcy Court for the District of New Jersey. The company, which currently operates 1,240 stores across 15 states, announced on May 5 it had begun Chapter 11 bankruptcy proceedings and would soon begin a process of selling and …

The Washington Post reports: Inflation ticked up in April after an unexpected slowdown the month before, but the annual rate pace of inflation eased slightly to 2.3 percent compared to March, in a first test of Trump’s tariff policies. The Labor Department’s consumer price index, a key gauge of inflation, rose 0.2 percent last month, reversing a slight decline in …

CNBC reports: The U.S. economy contracted in the first three months of 2025, fueling recession fears at the start of President Donald Trump’s second term in office as he wages a potentially costly trade war. Gross domestic product, a sum of all the goods and services produced from January through March, fell at a 0.3% annualized pace, according to a …

The Washington Post reports: The global economy will slow sharply this year, weighed down by President Donald Trump’s imposition of the highest import taxes in more than a century and the cloud of uncertainty that has billowed in their wake, the International Monetary Fund said Tuesday. Trump’s double-barreled tariff plan — a 10 percent tax on nearly everything the United …

Playbook reports: The International Monetary Fund will officially downgrade global growth forecasts this morning in response to the swirling trade war and severe market turbulence triggered by Donald Trump’s on-off tariffs. The IMF’s weeklong spring conference in Washington will dominate headlines at 9 a.m. with the unveiling of its first World Economic Outlook since Trump returned to power. It won’t …

CNN reports: Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday. April’s reading was lower than anything seen during the Great Recession. President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods …

“China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless ‘whipping post,’ but not any longer. We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC …

The Hill reports: The U.S. economy added 228,000 jobs in March and the unemployment rate stayed roughly even at 4.2 percent, according to data released Friday by the Labor Department. The monthly federal jobs report showed the labor market holding strong in March after another month of rising concern about the impact of President Trump’s economic agenda. March employment data …

Yahoo Finance reports: US stocks fell on Thursday, with the S&P 500 officially entering into correction territory, as economic concerns grew and investors digested the latest inflation data, President Trump’s trade offensive, and a looming US government shutdown. The S&P 500 dropped 1.4% to officially enter a correction, as it is now more than 10% off its February record high. …

HOWARD LUTNICK: “When you’re negotiating with someone and they’re not paying attention, and they are disagreeing, the president – who’s the best dealmaker ever to sit in that chair – is going to say, ‘Here’s my response.’ And then all of a sudden, shockingly, they respond.” CBS NEWS: “Will these policies be worth it if they lead to a recession, …

The Hill reports: Treasury Secretary Scott Bessent said Friday the United States economy has become increasingly reliant on excessive government spending. “The market and the economy have become hooked, become addicted, to excessive government spending, and there’s going to be a detox period,” Bessent said on CNBC’s “Squawk Box.” Bessent added there will be a “natural adjustment” as the Trump …

CNBC reports: President Donald Trump’s efforts to pare down the federal government workforce left a mark on the labor market in February, with announced job cuts at their highest level in nearly five years, outplacement firm Challenger, Gray & Christmas reported Thursday. The firm reported that U.S. employers announced 172,017 layoffs for the month, up 245% from January and the …