Apologies if you've heard this one before, but the jobs market is slowing down. No, really.Aside from the long-standing calls for a recession to hit the U.S., the expectation for a hiring retreat is probably the most oft-heard — and, so far, incorrect — economic call of at least...
Construction workers at a project in the Upper East Side neighborhood of Manhattan, NY on Oct. 6th, 2023. Adam Jeffery | CNBCThe cost of labor unexpectedly declined in the third quarter, providing at least some relief on the inflation front, the Labor Department reported Thursday.Unit labor costs, a measure of...
A "Now Hiring" sign at a CVS pharmacy in San Francisco, California, US, on Tuesday, July 18, 2023. CVS Health Corp. is scheduled to release earnings figures on August 2.Bloomberg | Bloomberg | Getty ImagesPrivate sector payroll growth increased modestly in October but missed expectations, in a potential sign...
US Federal Reserve Chairman Jerome Powell holds a press conference in Washington, DC, on September 20, 2023. Mandel Ngan | AFP | Getty ImagesThe Federal Reserve meeting will most likely conclude Wednesday with the central bank not doing a whole lot of anything — just the way the market wants...
US Treasury Secretary Janet Yellen delivers remarks at the Treasury Department's Committee on Foreign Investment in the United States conference at the Treasury Department in Washington, DC, on September 14, 2023. Olivier Douliery | Afp | Getty ImagesThe U.S. government's borrowing needs will decline slightly in the final three months...
Inflation accelerated in September but consumer spending was even stronger than expected, according to a Commerce Department report Friday.The core personal consumption expenditures price index, which the Federal Reserve uses as a key measure of inflation, increased 0.3% for the month, in line with the Dow Jones estimate and...
The U.S. economy grew even faster than expected in the third quarter, buoyed by a strong consumer in spite of higher interest rates, ongoing inflation pressures, and a variety of other domestic and global headwinds.Gross domestic product, a measure of all goods and services produced in the U.S., rose...
People shop along Broadway in Manhattan on July 27, 2023 in New York City. Spencer Platt | Getty ImagesThe U.S. economy likely turned in another strong performance heading into the final part of the year, though what's ahead could be significantly different.Gross domestic product, or the sum of all...
Jamie Dimon, CEO of JPMorgan Chase speaking with CNBC's Leslie Picker in Bozeman, MT on Aug. 2nd, 2023.CNBCJPMorgan Chase CEO Jamie Dimon on Tuesday warned about the dangers of locking in an outlook about the economy, particularly considering the poor recent track record of central banks like the Federal...
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Pool | Via ReutersThe federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the Treasury Department announced Friday.Wrapping up a year...