The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong.The Labor Department said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%....
The unemployment rate rose sharply in August, as the summer of 2023 neared a close with a job market in slowdown mode.Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday.However, the unemployment...
Taylor Swift, Beyonce, Barbie, OppenheimerGetty ImagesConsumer spending may not be out of the woods.Real spending is expected to come in 1.9% higher in the third quarter, helped in part by stadium tours from music superstars Taylor Swift and Beyoncé, as well as summer movie blockbusters "Barbie" and "Oppenheimer," according...
A 'help wanted' sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City. Spencer Platt | Getty ImagesJob creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might...
Commuters arrive into the Oculus station and mall in Manhattan, New York, Nov. 17, 2022.Spencer Platt | Getty ImagesThe amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least in the labor...
The sunset glow is seen over buildings and a ferris wheel on May 13, 2022 in Beijing, China.Vcg | Visual China Group | Getty ImagesChina's economic model is "washed up on the beach" and "not going to take off again," which will have a big impact on global markets,...
Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger-than-expected showing for the month, the Commerce Department reported Tuesday.The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos,...
This pool image distributed by Sputnik agency shows Russian President Vladimir Putin meeting with the Tver region governor at the Kremlin in Moscow on August 9, 2023.Mikhail Klimentyev | AFP | Getty ImagesThe Russian ruble briefly notched 100 to the U.S. dollar on Monday, nearing a 17-month low as President Vladimir...
A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the...
Jim O'Neill, former chief economist Goldman Sachs Group, in Italy in 2019.Alessia Pierdomenico | Bloomberg via Getty ImagesVeteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.The U.S. Federal Reserve...