US adds 175,000 jobs and unemployment rate rises to 3.9 percent, falling short of economist expectations
The U.S. economy added 175,000 jobs in April, and the unemployment rate rose to 3.9%, according to new Labor Department data released Friday. April’s employment report was lower than economists expected, with 240,000 new jobs and an unemployment rate of 3.8%. The latest jobs report came days after the Federal Reserve decided not to cut […]
IRS to Increase Audit Rates of Wealthy Taxpayers by 50 Percent
The Internal Revenue Service (IRS) announced a 50% increase in audit rates for wealthy taxpayers and large corporations. The IRS will reportedly use the allocated funds based on the following provisions: inflation control lawsigned into law by President Biden in 2022. “The audit rate for taxpayers with income over $10 million is expected to increase […]
US economic growth falls short of expectations with 1.6 percent annualized gain
U.S. economic growth fell below 2% in the first quarter for the first time in more than a year and a half, according to new government figures released Thursday. According to the Commerce Department’s Bureau of Economic Analysis (BEA), gross domestic product (GDP) grew at an annual rate of 1.6% in the first quarter of […]
62 percent of Biden voters want to replace both candidates on the ballot: Poll
About six in 10 voters who support President Biden say they would replace both the incumbent and his rival, former President Trump, if possible in the 2024 polls, according to a poll released Wednesday. a pew research report According to the survey, 62 percent of Biden supporters said they would swap the two candidates at […]
Nearly 38 Percent of U.S. Renters Do Not Believe They Will Ever Be Homeowners
According to a recent survey, nearly 38% of renters in the United States do not believe they will ever be able to call themselves homeowners. Redfin reported on April 12th. findings According to a survey conducted by Qualtrics in February among approximately 3,000 U.S. residents. According to Breitbart News, this information comes from researchers who […]
Tesla reports 9 percent dip in first quarter revenue
Electric vehicle (EV) company Tesla on Tuesday announced that first-quarter sales fell 9% from a year earlier. The sales decline is Tesla’s biggest since 2012, as the company faces declining sales and increased competition. Tesla cut the prices of three of its best-selling cars (Model X, Model Y, and Model S) by $2,000 each on […]
Mortgage rates top 7 percent for first time in 2024
Mortgage interest rates exceeded 7% for the first time this year, according to new data It was released Friday by Freddie Mac. The average interest rate on a 30-year fixed-rate mortgage was 7.1% this week, up from 6.88% the previous week. “With interest rates trending higher, potential homebuyers are looking to either buy before rates […]
Tesla cutting 10 percent of workforce
Tesla plans to cut more than 10% of its global workforce, CEO Elon Musk said in a memo to employees on Monday. “Over the years, we have expanded rapidly with multiple factories around the world,” Musk said in the memo. Obtained by CNBC. “This rapid growth has led to duplication of roles and duties in […]
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Maryland lawmakers introduce bill requiring feds to pay 100 percent of Baltimore bridge repair
Members of Maryland’s congressional delegation introduced a bill Thursday that would make the federal government pay for the full cost of repairing the Baltimore bridge that collapsed when a ship struck it last month. The bill was sponsored by Democratic Sens. Ben Cardin and Chris Van Hollen, and all eight members of the Maryland House […]