Retailers pare back their seasonal hiring to prepare for ho-hum holidays
Economists, as well as retailers, have signaled that they are worried about the effects of the return of student loan payments on the health of the economy.
Jobs report surprises as employers add 336,000 jobs in September
Employers continued their hiring streak in September, surprising economists by boosting jobs for workers in restaurants, health care, and government. The Bureau of Labor Statistics monthly jobs report, released Friday, showed a gain of 336,000 jobs. The unemployment rate held steady at 3.8%. The BLS also revised up the jobs added in July and August […]
Consumers face higher car prices, lower inventory with auto workers on strike
Economic experts and researchers say that the auto workers strike could have far-reaching economic consequences for businesses and consumers, depending on its duration. In addition to workers’ job losses, consumers could see higher prices for cars and depleted inventory. The United Auto Workers union, representing about 150,000 auto workers, walked off the job Sept. 15 […]
Millions more workers would receive overtime pay under proposed Biden administration rule
Salaried workers who have been ineligible for overtime pay would benefit from a proposed Biden administration regulation. The Department of Labor’s new rule would require employers to compensate full-time workers in management, administrative, or other professional roles for any overtime worked if they make less than $55,068 annually. Currently, the salary threshold is $35,568. The […]
Consumers seeing relief in some food prices as inflation continues to slow
Consumers are getting some relief from higher prices as core inflation, which excludes food and energy, continues to show signs of cooling — an encouraging sign for the U.S. economy, according to economists. The Department of Labor’s report on Thursday showed the consumer price index rose 0.2% in July, in line with expectations, and 3.2% […]
Teamsters-UPS reach ‘game-changing’ labor deal to avert strike
UPS and its workers, represented by the Teamsters, reached a tentative deal on Tuesday to prevent an Aug. 1 strike of 340,000 union members at the package carrier. A work stoppage could have cost the U.S. economy billions by disrupting supply chains and upending distribution to both large and small businesses, hospitals and homes. Representatives […]
Environmental groups help voters connect the dots on economic, environmental issues ahead of Election Day
To engage with voters, Blume said Conservation Voters of Pennsylvania has been working in “great coordination” with other environmental groups in the commonwealth to educate communities about the candidates on the ballot and the contents of legislation such as the IRA.
Inflation is spiking around the world – not just in the United States | Opinion
Meanwhile, annual inflation in Germany and the U.K. – countries with comparable economies – ran nearly as high: 7.5% and 8.2%, respectively, for the 12 months ending in June 2022. In Spain, inflation has hit 10%.