Author Archive
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Jobless Claims Hit Level Last Seen in 1969
US applications for jobless benefits tumbled to the lowest level in more than five decades last week as layoffs remain historically low despite global economic uncertainty. The number of Americans applying for unemployment benefits in the week ending July 18 declined by 22,000 to 187,000, the Labor Department... Go to Source Author:
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Jobs Numbers Come In Weaker Than Expected
US employers pulled back on hiring last month and added only 57,000 jobs, less than half the previous month's total and a sign that companies still have a cautious economic outlook. Analysts polled by the Wall Street Journal expected 115,000 new jobs in June. The new figure (out... Go to Source Author:
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Op-Ed: California Has Gone Full ‘Dude’
California isn't just laid-back anymore; columnist Joe Mathews argues it's gone full "Dude." In a new piece for Zócalo Public Square , Mathews revives a concept he floated 12 years ago—"Lebowskization"—to describe how residents are increasingly resembling Jeff Bridges' iconic slacker from The Big Lebowski . He backs the joke... Go to Source Author: Arden Dier with Newser.AI
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Fed Holds Key Rate Steady After Warsh’s First Meeting
Federal Reserve Chairman Kevin Warsh has chaired his first meeting on interest rates, and nothing has moved despite the change at the top. The central bank has kept its key interest rate parked in the 3.5% to 3.75% range, where it has sat all year. The decision was... Go to Source Author: Rob Quinn with Newser.AI
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Remote Work Is Hurting Young Workers’ Chances
The rise of remote work since the pandemic has made businesses more reluctant to hire young, inexperienced workers and is the key driver of higher unemployment rates for recent college graduates, a study released Monday found. The study, by the Federal Reserve Bank of New York, compared occupations that can... Go to Source Author:
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American Men Continue to Leave the Workforce
American men are bowing out of the workforce in record numbers, and not just because they're hitting retirement age. Labor Department data show that in April, one-third of men were neither working nor looking for work, pushing male labor-force participation to a historic low outside the first months of the... Go to Source Author: John Johnson with Newser.AI
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Musk: I Know How to Contend With AI-Driven Job Loss
Elon Musk has a fresh spin on universal basic income, and it's not small change. In a post on X , the billionaire argued that the "best way" to handle job losses from artificial intelligence is "universal HIGH INCOME via checks issued by the Federal government." Per Mandatory , Musk's proposal goes... Go to Source Author: Jenn Gidman with Newser.AI
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For This Group, Unemployment Could Hit 66%
While the Iran war dominates headlines, World Bank President Ajay Banga is trying to steer eyes toward a quieter but potentially far larger threat. In the next 10 to 15 years, 1.2 billion people in developing countries will reach working age, but current trends point to only about 400... Go to Source Author: Arden Dier with Newser.AI
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Jobs Report Is Much Better Than Expected
American employers added a surprisingly strong 178,000 new jobs last month, rebounding from a dismal February. And the unemployment rate dipped to 4.3%. The Labor Department reported Friday that hiring marked a rebound from the loss of 133,000 jobs in February, the AP reports. The February loss... Go to Source Author:
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Jobs Report Comes in Unexpectedly Weak
American employers unexpectedly cut 92,000 jobs last month, a sign that the labor market remains under strain. The unemployment rate blipped up to 4.4%, the AP reports. The Labor Department reported Friday that hiring deteriorated from January, in which companies, nonprofits, and government agencies added 126,000 jobs.... Go to Source Author:
