Economy

The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from

A networking and hiring event for professionals of color in Minneapolis. Michael Siluk | Getty Images The unemployment rate for Black Americans fell in April, bucking the overall trend, according to data released Friday by the Department of Labor. Black Americans remain the racial group with the highest jobless percentage in the U.S., even after

The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce

A Turkish national flag, left, and a flag bearing the portrait of Kemal Ataturk, founder of the modern Turkish republic, hang from the exterior of a building in the Sisli district of Istanbul, Turkey, on Monday, Aug. 29, 2022. Bloomberg | Bloomberg | Getty Images Turkey’s inflation accelerated to 69.8% annually for the month of

A jobseeker takes a flyer at a job fair at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024. Allison Joyce | Bloomberg | Getty Images Hiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. Nonfarm payrolls

Private payrolls increased at a faster-than-expected pace in April, indicating there are still plenty of tail winds for the U.S. labor market, according to ADP. A separate report indicated that job openings continue on the decline, falling to their lowest level since early 2021. The payrolls processing firm reported Wednesday that companies added 192,000 workers

In this article BLK Follow your favorite stocksCREATE FREE ACCOUNT The BlackRock logo is displayed at the company’s headquarters in New York City on Nov. 14, 2022. Leonardo Munoz | Getty Images Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia’s Public

McDonald’s employee giving change to a customer. Jeffrey Greenberg | UIG | Getty Images Some of America’s best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. Inflation has dominated corporate America’s discourse over the past three years following the pandemic-induced easing of monetary policy and trillions of dollars in

Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on March, 7 2024.  Kent Nishimura | Getty Images News | Getty Images Faced with stubborn inflation that has raised concerns about where policy is headed, the Federal Reserve has been ensnared in a holding pattern that likely

People walking in the streets of Montmartre, Paris, France, on April 23, 2024.  Nurphoto | Nurphoto | Getty Images Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with

Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy saying the world faces a decade of low growth if the right economic measures are not applied. Speaking Sunday at WEF’s “Special Meeting on Global Collaboration, Growth and Energy for Development” in Saudi Arabia, he warned that global debt

Inflation showed few signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above

A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images The last batch of inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is very good. In the

U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s

US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024.  Mandel Ngan | Afp | Getty Images With the economy humming along and the stock market, despite some recent twists and

A “Now Hiring” sign is displayed on a shopfront on October 21, 2022 in New York City. Leonardo Munoz | View Press | Corbis News | Getty Images Calling the state of the U.S. jobs market these days stable seems like an understatement considering the latest data coming out of the Labor Department. That’s because

The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve does not take action soon on interest rates, State Street’s head of investment strategy in EMEA said Tuesday. Altaf Kassam told CNBC that classic monetary policy mechanisms had “broken,” meaning that any changes made by the Fed will now take