Economy

Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Federal Reserve officials welcomed Thursday’s news showing that inflation rose less than expected last month, and they noted that interest rate increases could slow ahead. But they also cautioned against getting too

The consumer price index rose less than expected in October, an indication that while inflation is still a threat to the U.S. economy, pressures could be starting to cool. The index, a broad-based measure of goods and services costs, increased 0.4% for the month and 7.7% from a year ago, according to a Bureau of

US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Anxiety over the cost of living and the direction of the economy could prove costly to President Joe Biden and his fellow Democrats in Tuesday’s election. Recent surveys

Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a relatively strong labor market. Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones

Jobs growth came in better than expected in October thanks in part to strong gains in the manufacturing, health-care, and professional and business services sectors. Manufacturing jobs increased by 32,000 last month, boosted by gains in the durable goods industry, according to the Labor Department. That advance brought the sector’s average monthly job gain for

A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate for Black men ticked down in October while it rose for most other groups, but that may be because workers are dropping out of the labor force. The October nonfarm payrolls print

The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a measure of productivity against compensation, increased 3.5% for the July-to-September period, below the 4% Dow Jones estimate and down from 8.9% in the

Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll processing firm ADP. Companies added 239,000 positions for the month, ahead of the Dow Jones estimate of 195,000 and better than the downwardly revised 192,000 in September. Wages

The Go! Go! Curry restaurant has a sign in the window reading “We Are Hiring” in Cambridge, Massachusetts, July 8, 2022. Brian Snyder | Reuters Job openings surged in September despite Federal Reserve efforts aimed at loosening up a historically tight labor market that has helped feed the highest inflation readings in four decades. Employment

U.S. consumer spending is experiencing a “mitigation of growth” but not a slowdown, Bank of America CEO Brian Moynihan said Friday. Interest rate hikes by the Federal Reserve are starting to be felt in the housing and auto markets, and renters will see their budgets squeezed as landlords pass on higher costs, he told CNBC’s

Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC. Drew Angerer | Getty Images An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday. The core personal consumption expenditures

The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, according to the

Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Political questioning of Federal Reserve Chair Jerome Powell about the central bank’s policy moves is intensifying, this time from the other side of the aisle.

David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon both expect a U.S. recession as a tight labor market keeps the Federal Reserve on an aggressive monetary policy tightening trajectory. Speaking on a

In this article TSCO DOV ABT WHR POOL C PG TSLA Follow your favorite stocksCREATE FREE ACCOUNT Pepsi products are displayed for sale in a Target store on March 8, 2022 in Los Angeles, California. Mario Tama | Getty Images One thing is clear at the start of the corporate earnings season: Inflation remains a

U.S Treasury yields rose further on Friday as investors digested the need for further interest rate hikes to curb inflation. Photo by Michael M. Santiago | Getty Images News | Getty Images Even though Latinos are the second-largest ethnic group in the U.S., they’re underrepresented across many industries, including finance, which can have long-term effects

The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. The decline would have been steeper had it not been for

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters Tesla founder and CEO Elon Musk thinks the global economic decline can last for another year and a half. In a Twitter exchange