Four days before Election Day, the government will issue its final snapshot of hiring and unemployment in the United States after a presidential race in which voter perceptions of the economy have played a central role. Yet Friday’s report will include some of the most distorted monthly employment figures in years, with job growth having … Read more
Former US Treasury Secretary Larry Summers says September’s better-than-expected jobs report shows the Federal Reserve’s half-point rate cut was “a mistake.” Following the Labor Department’s report that employers added 254,000 jobs in September – well above the 140,000 gain that was predicted by LSEG economists – and the unemployment rate declined slightly from a month ago to 4.1%, Summers … Read more
The Dow posted a record closing high on Friday and the Nasdaq ended with a more than 1% gain as a stronger-than-expected jobs report reassured investors who had worried the economy may be getting too weak. The blue-chip Dow jumped 341.16 points, or 0.8%, to 42,352.75, eclipsing its previous high of 42,330.15 on Monday. The S&P … Read more
The economy added a whopping 254,000 jobs last month — blowing past forecasts that predicted a modest rise and diminishing Wall Street’s hopes of another big rate cut from the Federal Reserve next month. The Labor Department also reported that the unemployment rate fell to 4.1% — a decline from 4.2% in the previous month. … Read more
The number of Americans filing new applications for unemployment benefits last week rose slightly to 230,000, matching economists’ expectations as the US job market continues to cool. Jobless claims increased by 2,000 in the week ended Sept. 7 from 228,000 the week before, according to labor department data. Economists polled by Reuters had forecast a … Read more
Wall Street’s main indexes nosedived on Monday, as fears of the United States tipping into recession following weak economic data last week rippled through global markets. The blue-chip Dow Jones Industrial Index plunged more than 1,100 points after the opening bell, while the tech-heavy Nasdaq Composite fell nearly 5% after entering correction territory last week. … Read more
The American job market added more jobs than was forecast last month while unemployment rose higher than expected — a mixed result for investors who were hoping for news that would encourage the Federal Reserve to slash interest rates in its drive to fully tame inflation. Nonfarm payrolls rose by 206,000 jobs in June while … Read more
U.S. job growth cooled off in April, which changed the narrative for the U.S economy, but it may not change the game for the Federal Reserve. According to the U.S. Bureau of Labor Statistics released on Friday morning, the U.S. economy added 175,000 new jobs in April, down from 315,000 in March and well below … Read more
To hear Donald Trump tell it, the US economy is on life support thanks to Joe Biden, and the only one who can save it is Donald Trump. While this claim, like virtually everything Trump has ever said, has no basis in reality, the notion that Biden has been terrible for the country’s finances is … Read more
