A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Why there’s ‘slowing momentum’ Employers added 142,000 jobs in August, the Bureau of Labor Statistics reported Friday, a figure that was lower than expected. The good news: That figure is an increase from…
The August jobs report came in weaker than expected, and employment growth by different industries showed a mixed bag for the U.S. economy. The growth was led by leisure and hospitality and health care and social assistance, with each category adding more than 40,000 jobs, according to data from the Bureau of Labor Statistics. If private education is included…
The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month. Nonfarm payrolls expanded by 142,000 during the month, up from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according to a report Friday…
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of travel is clear, and…
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through…
Job seekers attends the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty Images In another sign of cracks forming in the U.S. labor market, a New York Federal Reserve survey Monday showed a slide in people reporting they are employed, a surge in those looking…
Austan Goolsbee speaking at Jackson Hole on Aug. 8, 2023. David A. Grogan | CNBC Chicago Federal Reserve President Austan Goolsbee on Sunday warned against misrepresenting the inflationary impacts of corporate price hikes and tariffs, which have become focal points of the Trump and Harris campaigns’ economic platforms. Goolsbee steered away from directly speaking on the presidential race given…
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at an event at the Hendrick Center for Automotive Excellence in Raleigh, North Carolina, U.S., August 16, 2024. Jonathan Drake | Reuters Vice President Kamala Harris on Friday delivered an economic policy pitch aimed to appeal to middle-class voters by focusing on lowering the costs of food, housing, health…
Fotostorm | E+ | Getty Images Inflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years. While many areas of the U.S. economy are disinflating — meaning their prices are still rising, though at a slower rate — some have been outright deflating. That means their prices have actually…
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School, in West Allis, Wisconsin, U.S., July 23, 2024. Vincent Alban | Reuters WASHINGTON — Vice President Kamala Harris plans to propose the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” her campaign announced late Wednesday. “There’s a big…
