US unemployment claims rise by 14,000 to 262,000

WASHINGTON (AP) — The number of Americans filing for unemployment benefits rose last week to its highest level since November, although the U.S. job market continues to show signs of strength. Unemployment assistance claims rose by 14,000 to 262,000 and have now risen five of the past six weeks, the Labor Department reported Thursday. The … Read more

What the blowout US jobs numbers actually mean | Inflation News

Are there really more people working than at any time in American history, as President Joe Biden claims? Searing US jobs numbers for July may have eased worries about a recession, but they also raised the risk of another 75 basis point hike from the Federal Reserve in September. . U.S. employers added 528,000 jobs … Read more

U.S. employers add 528,000 jobs in July

WASHINGTON — U.S. employers added 528,000 jobs last month despite early signs of an economic slowdown, easing fears of a recession and giving President Joe Biden some good news ahead of the midterm elections. mandate. Unemployment fell another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took … Read more

Top economic takeaways as US wrangles with recession fears | Inflation News

Consecutive GDP slowdown, Fed doubling, a falling job market, scorching prices and the tech big bang, here are the major economic highlights from a busy week. It was a turbulent and data-rich week for the US economy. The Federal Reserve, the nation’s central bank, raised interest rates by 75 basis points on Wednesday, the second … Read more

U.S. economy contracts, flashing signs of technical recession

Treasury Secretary Janet Yellen delivers remarks during a press conference at the Treasury Department in Washington on July 28.Win McNamee/Getty Images The U.S. economy unexpectedly contracted for the second consecutive quarter between April and June, sparking a struggle among economists and politicians over whether the United States is facing a generalized recession or just a … Read more

Why America seems destined for stagflation

Last week, the Department of Labor reported that first-time jobless claims had risen to their highest level since last November, when the Delta variant first gave way to Omicron. This, while inflation hit 9.1% in June and wholesale prices jumped 11.3%. Welcome (back) to stagflation – a nasty combo that last hit under President Jimmy … Read more

Great regret? Millions of Americans wish they did not quit jobs | Unemployment News

Some 20 million Americans quit their jobs in the first five months of 2022 during the “Great Quit”. About 20 million Americans quit their jobs in the first five months of this year, in what is being called the Great Resignation. Many now regret the decision, according to a new survey. More than a quarter … Read more

New report shows demand for workers in the United States is high

A new report shows that the demand for workers remains high. The Labor Department said there were 11.3 million job openings on the last day of May. This is down slightly from the previous month, but still close to record highs. Demand for professional workers has fallen slightly, but many other industries are hiring more … Read more

US hiring was likely solid in June despite recession fears | Business News

If you know of local business openings or closings, please notify us here. PREVIOUS OPENINGS AND CLOSINGS · Air Products and Chemicals Inc.’s chosen warehouse developer, Prologis Inc., will have to wait until July 13 for a final decision by Upper Macungie Township’s zoning hearing board on 2.61 million square feet of warehouses.  · Chubby’s … Read more