Blog
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October Layoffs the Worst Since 2003
Layoffs in the US have reached recession-level numbers, reports the Washington Post , which cites new data from the private firm Challenger, Gray & Christmas to back that up: So far this year, employers have announced 1.1 million job cuts, a figure in line with the Great Recession of 2008-09,... Go to Source Author: John Johnson with Newser.AI
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ADP Gives Us a Sense of What Happened in October
With the October jobs report all but certain to not materialize on Friday due to the shutdown, a meaningful outside data point: Payroll processor ADP on Wednesday said America's private sector added 42,000 jobs in October, besting expectations of 22,000 fresh jobs and an improvement from September's revised... Go to Source Author: Kate Seamons with Newser.AI
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China Has a Major Domestic Spending Problem
China's economy has a new problem: its own consumers. While global shoppers are snapping up Chinese goods at record rates despite tariffs and trade tensions, Chinese citizens themselves are keeping their wallets closed, the New York Times reports. The result is an economy increasingly reliant on exports, even as officials... Go to Source Author: Rob Quinn with Newser.AI
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Companies’ Reports Are No More Reassuring on Jobs
With official labor statistics absent during the federal shutdown, Wall Street is sifting through alternative sources —and the signals aren't rosy. Bank of America, Goldman Sachs, and private equity giant Carlyle Group all see a cooling US job market, with rising unemployment and fewer positions being added. Carlyle's own company... Go to Source Author: Bob Cronin with Newser.AI
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Americans Are Growing Less Sure They Can Land New Work
Americans' belief in their ability to land a new job has hit a record low, according to a new survey from the Federal Reserve Bank of New York. In August, respondents put their "perceived probability" of finding work after a job loss at just 44.9%—down 5.8 points... Go to Source Author: Kate Seamons with Newser.AI
