US wholesale inflation cooled in July in sign that price pressures are continuing to ease
WASHINGTON (AP) — US wholesale inflation cooled in July in sign that price pressures are continuing to ease.
WASHINGTON (AP) — US wholesale inflation cooled in July in sign that price pressures are continuing to ease.
A Chinese economic blunder will have vast global implications, William Pesek writes in a guest commentary.
"A protracted stalemate might be the only solution for Russia to avoid total economic collapse," one economist says.
There are roughly two months to go until the November election, which swing-state voters know all too well after a summer of relentless political advertising bombardment. Emotional and complex social...
OTTAWA — Canada's unemployment rate continued to trend higher in August — reaching 6.6 per cent — as the job market slowdown hits workers and job seekers unevenly.
The Fed's higher borrowing costs discouraged home building, adding inflation pressure, Joseph Stiglitz said.
The labour market added a net 22,100 jobs in August while the unemployment rate jumped by 0.2 percentage points, Statistics Canada said on Friday.
NEW YORK (AP) — Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the U.S. job market came in weak enough to add to worries about the economy.
Every year Goldman Sachs and other banks fire underperforming staffers, but finding a new job this year could be tougher than in the past.
A hedge fund turned to a tabletop wargame to see how a Chinese invasion of Taiwan could play out. It showed the fallout could be dramatic and global.
WASHINGTON (AP) — House Speaker Mike Johnson is heeding the demands of the more conservative wing of his Republican conference and has teed up a vote this week on a bill that would keep the federal government funded for six more months and require states to obtain proof of citizenship, such as a birth certificate or passport, when registering a person to vote.
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The Canadian dollar weakened to a two-week low against its U.S. counterpart on Friday as oil prices fell and investors weighed prospects of domestic jobs data triggering a faster pace of interest rate cuts by the Bank of Canada. Canada's economy added 22,100 jobs in August but the pace of hiring was not fast enough to stop the unemployment rate climbing to 6.6%, its highest level in seven years excluding the pandemic years of 2020 and 2021. The overnight index swaps market was pricing in 63 basis points of easing in total at the BoC's final two meetings of the year, up from 59 basis points before the jobs data.
TORONTO — Canada's main stock index fell more than 200 points on Friday, while U.S. markets also fell, after the latest reports on the labour market showed continued softening on both sides of the border.
The US economy added fewer jobs than expected in August while unemployment ticked lower.
Companies have continued to cut jobs in 2024 after a wave of layoffs last year. Goldman Sachs, IBM, Google, and Tesla are among those shedding staff.
The 2024 election is quickly approaching. After four years of President Joe Biden, Nov. 5 will decide whether he serves another term or whether former President Donald Trump returns to the White...
NEW YORK (Reuters) -Uncertainty over the U.S. economy's health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs data showed labor market momentum slowing more than expected, suggesting a narrower path for the U.S. to achieve a soft landing, in which the Fed is able to cool inflation without badly damaging economic growth. The Fed is expected to cut interest rates at its Sept. 17-18 meeting, but the data revived fears that months of elevated borrowing costs have already started to pressure the economy.
STORY: U.S. employment increased less than expected in August, but the jobless rate ticked down to 4.2%.Still, Mahn noted that the Federal Reserve "was forecasting unemployment to end this year at 4%, so we're already well above the Fed's expectations for unemployment in 2024."Speaking with Reuters' Lisa Bernhard, Mahn wondered whether the labor market slowdown would cause a pullback in consumer spending, which accounts for 70% of U.S. economic growth."That's what investors are focused on right now," Mahn explained. "How bad is this going to get? How defensive do they need to be and can and will the Fed come to the rescue once again?"
For voters, two of the biggest economic issues heading into the final stretch of the 2024 presidential election are inflation and job growth. Those two issues present a mixed bag for Vice President...
Lawmakers are expected to vote on the bill next Monday and Wednesday.