US adds 272,000 jobs, unemployment rises to 4 percent
The U.S. economy added 272,000 jobs in May, and the unemployment rate rose slightly to 4%, according to new Labor Department data released on Friday. The May employment report was much better than expected by economists, who had projected a gain of 185,000 jobs and an unemployment rate unchanged from April’s 3.9%. But the slight […]
US adds 272,000 new jobs in May — blowing past estimates
The US economy added an astounding 272,000 jobs last month, well above the 180,000 that analysts had predicted. Wall Street stock futures fell sharply on the news, as the continued strength of the job market makes it unlikely the Federal Reserve will cut interest rates anytime soon. Last month’s strong job gains reflect the durability […]
U.S. Economy Added 272,000 Jobs In May, Shutting Door On Rate Cuts Early This Summer
The Labor Department said Friday that U.S. employers added 272,000 workers in May, all but eliminating the possibility of the Federal Reserve cutting interest rates early this summer. Hiring was very strong in May, with the unemployment rate rising to 4% despite a slight decline in the labor force participation rate. Economists had expected payrolls […]
Reform California Chairman Roasts Democrats’ Bill Giving Illegals Taxpayer-Funded State Jobs
Democrats in the California Assembly are facing backlash over proposals that could benefit undocumented immigrants. A Assembly bill could direct the University of California (UC) system to hire undocumented immigrants for taxpayer-funded state jobs, with Reform California Chairman Carl DeMaio sharply criticizing lawmakers, Fox News reports. report Tuesday. According to the California Globe, there are […]
Jobless claims tick higher ahead of critical May jobs report
Claims for jobless benefits rose to a four-week high last week, ahead of May’s employment report, which will be key data for the Federal Reserve as it considers whether to start cutting interest rates this year. The Labor Department said Thursday that new initial claims for unemployment benefits rose by 8,000 to 229,000 for the […]
California fast food restaurants have cut 10,000 jobs since passing $20 minimum wage: business agency
California Governor Gavin Newsom’s successful move to raise the minimum wage for many of the state’s fast-food workers is having a devastating effect on businesses that are being forced to cut labor costs to survive, critics say. Chipotle, McDonald’s and other major fast-food chains have been raising prices to catch up with the $20 an […]
White-collar workers are struggling to find jobs as the labor market slows
Jack Otter and the Barron’s Roundtable panel discuss why job gains were lower than expected in April. US Labor Market Hiring is stabilizing after months of rapid job growth, but some workers are feeling the slowdown more than others. Recent Data According to a Vanguard survey, demand for high-income workers is declining, creating a two-tiered […]
Denver Democrats Pick Illegal Aliens for Jobs Needed by Americans
Denver Mayor Mike Johnston, a Democrat, has praised a new effort to help immigrants transition from the city’s shelter system to work, with new programs offering job training, legal aid and English language teaching services. So far, the city has enrolled about 800 immigrants in the program, with more expected. Added By the end of […]
Reform California chairman slams proposal mandating illegal immigrants be hired for taxpayer-funded state jobs
Reform California Chairman Carl DeMaio is slamming a bill proposed by Democrats in the California Assembly that would direct the University of California system to hire undocumented immigrants for taxpayer-funded state jobs. “We’ve seen a lot of outrageous proposals from California Democratic politicians who are doing everything they can to make it easier for illegal […]
Microsoft Slashes 1,000+ Jobs in Cloud Computing Division
Microsoft has reportedly laid off more than 1,000 employees from its Azure cloud business, with the cuts affecting teams such as Azure for Operators and Mission Engineering, according to people familiar with the matter. Business Insider Reports The tech giant’s decision to cut staff comes as a surprise to many, given the company’s recent success […]