Alvaro Gonzalez | Moment | Getty ImagesLayoffs soared in August, hitting their highest total for the month in 15 years, while year-to-date hiring reached a historic low, outplacement firm Challenger, Gray & Christmas reported Thursday.Announced job cuts totaled 75,891 for the month, lurching 193% higher than July. Though the...
A trader signals an offer in the Standard & Poor's 500 stock index futures pit at the CME Group in Chicago on Dec. 14, 2010.Scott Olson | Getty Images News | Getty ImagesThe relationship between the 10- and 2-year Treasury yield briefly normalized Wednesday, reversing a classic recession indicator.Following...
Job openings slumped to their lowest level in three and a half years in July, the Labor Department reported Wednesday in another sign of slack in the labor market.The department's closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month,...
speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBCAtlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank's target.Previously one of the more hawkish policymakers, or in favor of...
Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | ReutersU.S. factories remained in slowdown mode in August, fueling fears about where the economy is headed, according to separate manufacturing gauges.The Institute for Supply Management monthly survey...
Inflation edged higher in July, according to a measure favored by the Federal Reserve as the central bank prepares to enact its first interest rate reduction in more than four years.The Commerce Department reported Friday that the personal consumption expenditures price index rose 0.2% on the month and was...
A customer shops at a supermarket on August 14, 2024 in Arlington, Virginia. Sha Hanting | China News Service | Getty ImagesFederal Reserve officials will get the latest look at their favorite inflation indicator Friday, a data snapshot that could influence the September rate decision even as policymakers appear to...
Federal Reserve officials have made it clear that they are turning their attention from a focus squarely on inflation to at least an equal concern about unemployment, and the latest data shows their concern is well-placed. Various indicators are pointing to a labor market that, if not in outright...
With Federal Reserve Chair Jerome Powell all but confirming that an interest rate cut is imminent, the market's attention Friday quickly turned to when and by how much. Traders continued to price in a greater likelihood that the Fed will kick off what is expected to be a protracted...
An employment sign is seen on the window of a Fedex store on August 02, 2024 in New York City.Michael M. Santiago | Getty ImagesThe 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...