US job growth jumps by 272K in May while unemployment unexpectedly rises
Lincoln Tech CEO Scott Shaw explains in “Varney & Company” why young workers are seeking trades jobs: U.S. job growth accelerated again in May, defying expectations of a slowdown even as the unemployment rate rose to its highest level in more than two years. Employers added 272,000 jobs in May, the Labor Department said in […]
Slowed job growth shows weakness of Bidenomics
Two pieces of labor market data released midweek depict a bleaker picture of the economy than the one commonly touted by President Joe Biden. A Bureau of Labor Statistics report from Tuesday shows that job openings fell to the lowest level in April since February 2021. The 8.06 million jobs available, down 300,000 from March, […]
Inter Focuses on Brazilian Migrants to Drive US Growth – PYMNTS.com
Brazilian Online Money Lenders Inter & Co. The company is expanding its efforts in the United States with a focus on replicating its success in Brazil in the online banking sector. Inter, which has a customer base of 32 million people in Brazil, has become popular by offering a wide range of products including credit […]
Private sector job growth cools in May to 152,000, worse than expected: ADP
Gary Kaltbaum, president of Kaltbaum Capital Management, explains in “Making Money” why a “narrow” stock market is a concern. U.S. companies started hiring more slowly than expected in May, according to the ADP national employment report released Wednesday morning, signaling that the labor market continues to cool on the back of rising interest rates. Businesses […]
US Economic Growth Plunges in First Quarter 2024
The release of 1st quarter 2024 Gross Domestic Product (GDP) on April 25th surprised virtually all forecasters. The first three months of 2024 were characterized by a notable deceleration in US economic growth, marking an almost two-year low. The same data release revealed that inflation, as measured by US GDP Personal Consumption Core Price Index […]
Consumer Strength Powers Growth Despite Soft Job Openings
JOLTS was stronger than it looked April’s key figures Survey of Job Openings and Labour Mobility (JOLT) The weaker-than-expected reading was a relief to those who believe a softening labor market will provide the basis for the Fed to cut interest rates this year. But a closer look at the report suggests the labor market […]
GDP Revised Down To A Slower 1.3% Growth Rate
The U.S. economy grew at a slower rate than previously thought in the first three months of the year, expanding at just a 1.3% annual rate, according to revised government data. The downward revision was mainly due to data showing that consumer spending growth was much slower than previously estimated. That was the slowest growth […]
Rising national debt to reduce Americans’ income growth: report
UBS Wealth Management SVP Brenda O’Connor Juanas and Wronski Group Founder John Wronski discuss earnings season and share their 2024 market outlook on “Mornings with Maria.” A new report says that if the rapidly growing national debt isn’t stabilized, it will be on track to cause declines in American household income growth over the coming […]
Inflationary Growth Is Blooming Again
April showers bring May economic flowers So much for the summer blues. The Conference Board Monthly Indicators Consumer Confidence It was further evidence that the economy accelerated in May. A report released on Tuesday showed confidence rose to the first time in four months, defying expectations of a further decline. Dana Peterson, chief economist at […]
History Says the Nasdaq Could Soar: 2 Top Growth Stocks to Buy Now for the Bull Market – Yahoo Finance
of Nasdaq Composite Index (NASDAQINDEX: ^IXIC) The Nasdaq entered a new bull market some 17 months ago in December 2022 and has risen 68% since then, but history suggests there’s even more upside to come for the tech-heavy index. Average return of 215% The company has taken an average of 40 months to turn a […]