Growth in labor costs in the United States is the weakest in a year; constantly tight work

Growth in labor costs in the United States is the weakest in a year;  constantly tight work

The employment cost index increases by 1.0% in the fourth quarter Wages and salaries increase by 1.0%; up 5.1% year-on-year Consumer confidence index drops to 107.1 in January House price inflation slows further in November WASHINGTON, Jan 31 (Reuters) – U.S. labor costs rose at their slowest pace in a year in the fourth quarter … Read more

Strong US economic growth expected in the fourth quarter, darkening outlook

Strong US economic growth expected in the fourth quarter, darkening outlook

GDP is expected to increase by 2.6% in the fourth quarter Strong consumer spending observed; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The U.S. economy likely maintained a healthy pace of growth in the fourth quarter as consumers increased their spending on goods, but momentum appears … Read more

Waitress gets fired after telling her boss she doesn’t get paid enough to do the dishes

Waitress gets fired after telling her boss she doesn’t get paid enough to do the dishes

Happy New Year… or not so much for everyone. A woman shared that she phoned in 2023 by get fired from his job as a waitress after standing up to her manager who tried to give her tasks she hadn’t been trained to do. The woman’s manager wanted her to do her job as a … Read more

Canada’s energy jobs transition bill stirs divisiveness in oil heartland

Canada’s energy jobs transition bill stirs divisiveness in oil heartland

Jan 22 (Reuters) – In western Canada’s oil sector, controversy rages over federal government legislation to help the fossil fuel workforce transition to a greener economy, but union and community leaders warn that the politicization of the Just Transition Bill is obscuring the needs of workers. Prime Minister Justin Trudeau’s Liberal government is expected to … Read more

Latest jobs stats show painful recovery in New York

Latest jobs stats show painful recovery in New York

The Big Apple added jobs at an appallingly slow pace last month as he struggles to cope with a drop of around 300,000 in its workforce since the pandemic, disturbing new data reveals The city’s recent unemployment rate has also hit around 6% – nearly double the national level – with minorities suffering the most, … Read more

Wall Street rallies to finish higher on Alphabet, Netflix lift

Wall Street rallies to finish higher on Alphabet, Netflix lift

Netflix co-founder Hastings steps down as CEO Google parent company Alphabet to lay off 12,000 workers Goldman Sachs falls on the report of an investigation Dow up 1%, S&P 500 up 1.89%, Nasdaq up 2.66% Jan 20 (Reuters) – U.S. stocks rebounded to close higher on Friday as the S&P 500 and Dow snapped a … Read more

The Fed will offer two 25 basis point hikes in the first quarter, followed by a long pause

The Fed will offer two 25 basis point hikes in the first quarter, followed by a long pause

BENGALURU, Jan 20 (Reuters) – The U.S. Federal Reserve will end its tightening cycle after hiking 25 basis points at each of its next two policy meetings, then likely keep interest rates stable for at least the next rest of the year, according to most economists in a Reuters poll. Fed officials generally agree that … Read more

Genesis crypto lending unit files for bankruptcy in the US

Genesis crypto lending unit files for bankruptcy in the US

Jan 20 (Reuters) – Crypto firm Genesis’s lending unit filed for U.S. bankruptcy protection against creditors on Thursday, overturned by a market rout with companies like exchange FTX and the BlockFi lender. Genesis Global Capital, one of the biggest crypto lenders, froze client redemptions on November 16 after FTX stunned the financial world with its … Read more

The US labor market remains tight; the real estate recession persists

The US labor market remains tight;  the real estate recession persists

Weekly jobless claims fall from 15,000 to 190,000 Continuing claims increase by 17,000 to 1.647 million Single-family housing starts increased by 11.3%; permits fall by 6.5% WASHINGTON, Jan 19 (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating another month of solid job growth and continued strain … Read more

Fed policymakers call for more rate hikes to beat inflation

Fed policymakers call for more rate hikes to beat inflation

Jan 18 (Reuters) – Federal Reserve policymakers said on Wednesday they would press ahead with further interest rate hikes, with many backing a maximum policy rate of at least 5% even as inflation shows signs to have peaked and economic activity is slowing. “I just think we need to keep going, and we’ll discuss at … Read more