US economy added a paltry 114,000 jobs in July, unemployment spikes to 4.3%
U.S. job growth slowed more than expected in July and the unemployment rate rose to 4.3%, raising concerns that the labor market could worsen and tip the economy into recession. In its closely watched jobs report released Friday, the Labor Department’s Bureau of Labor Statistics said nonfarm payrolls rose by just 114,000 last month after […]
U.S. Economy Added Just 114,000 Jobs in July, Unemployment Surges
The Labor Department said Friday that U.S. employers added 114,000 workers in July, helping push the unemployment rate up to 4.3%. Economists had expected 180,000 jobs and an unemployment rate of 4.1%. Disappointing employment growth and a sharp rise in the unemployment rate suggest the economy may be heading toward a recession. The unemployment rate […]
US adds 114K jobs in July, jobless rate rises to 4.3 percent
U.S. employment increased by 114,000 jobs in July, and the unemployment rate rose to 4.3%, according to data released Friday by the Labor Department. Economists expect the U.S. to add 175,000 jobs and keep the unemployment rate steady at 4.1%. The July jobs report came two days after Federal Reserve officials signaled they could start […]
Massive Layoffs At Intel With Tech 15K Jobs Cut, $1.6B Loss After Biden Administration Funding
Intel announced major layoffs on Thursday, cutting 15,000 jobs after a $1.6 billion loss, despite receiving a large amount of funding from the Biden administration. Intel is cutting 15 percent of its workforce, or about 15,000 jobs, as it restructures its business and seeks to better compete with industry leaders such as Nvidia and AMD. […]
Bill Belichick’s slew of media jobs a ‘PR makeover’: NFL insider
It’s been a big summer for former Patriots head coach Bill Belichick, who has grown closer to the media and enjoyed dating his new love since parting ways with New England at the end of last season. But after being notoriously standoffish with the press, he now has a more laid back image and media-friendly […]
Intel cuts whopping 15K jobs, posts $1.6B loss just months after getting Biden funds
Chipmaker Intel is cutting 15% of its vast workforce, or about 15,000 jobs, as it tries to restructure its business to compete with more successful rivals such as Nvidia and AMD. Intel CEO Pat Gelsinger said in a memo to employees on Thursday that the company plans to cut costs by $10 billion in 2025. […]
Private companies added just122,000 jobs in July, less than expected
Olu Omodunbi, chief economist at Huntington Private Bank, said on “The Craman Countdown” that the jobs report points to a slowdown in the labor market. U.S. companies started hiring more slowly than expected in July, according to the ADP national employment report released Wednesday morning, signaling that the labor market continues to cool on the […]
Growing number of Americans with jobs are homeless thanks to ‘fast-rising rents,’ inflation: Report
Rising rent costs and soaring inflation are resulting in a growing number of Americans who have jobs but still don’t have homes. The Washington Post Local shelters and volunteer groups have found an increasing number of people with stable jobs becoming homeless, and one Tulsa organization reported that a lack of affordable housing is the […]
Key workers quit jobs to avoid cash penalties for breaching carer’s allowance | Society
Teachers, NHS staff and other key workers juggling part-time work with caring for loved ones are quitting their jobs to avoid huge fines for breaching carer’s allowance rules, a survey has found. An investigation into the human impact of penalties has found that sanctions running up to thousands of pounds, caused by opaque rules and […]
Unemployment Rate Rising Despite Job Creation Due to ‘a Lot of Immigrants’ ‘Taking Jobs’
On CNBC’s “The Exchange” on Friday, Mark Zandi, chief economist at Moody’s Analytics, said the rising unemployment rate despite job creation is “because we have strong labor force growth and a lot of immigrants coming into the country looking for work.” Zandi said he believes the economy’s potential growth rate is much higher than most […]