The U.S. gained 1.8 million jobs in July as rising coronavirus cases across much of the country hindered the economic rebound from the first wave of the pandemic, the Labor Department reported Friday. The unemployment rate fell to 10.2 percent in July from 11.1 percent in June, according to the July jobs report, as the […]
Tag: jobs
209,000 Jobs Added In Month Of July, Well Above Projections
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday. Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that includes […]
Automation Pushing America To Universal Basic Income For It’s Citizens
Is a guaranteed paycheck from the government, with no strings attached, the answer to the relentless rise of automation? The concept might sound far-fetched, but a so-called universal basic income (UBI), is currently one of the most hotly debated policy topics being floated as a means to address income inequality and the disruption that technology […]
Robots, A.I. Boom May Cost US, UK At Least 33% Of Their Jobs
Up to one-third of British jobs could be taken over by robots by the early 2030s, impacting 10 million Britons but with women less likely to face redundancy, a UK study showed. The research, by accountancy firm PricewaterhouseCoopers LLP, found 30 percent of UK jobs could face automation compared to 38 percent in the United […]
Despite Trump Boasts, Job Numbers Identical To Obama
President Donald Trump on Friday flipped his approach to the government’s employment report, celebrating the kind of strong showing he dismissed as phony under President Barack Obama. The Labor Department reported that the economy created 235,000 jobs in February, above the 190,000 consensus, allowing the president to claim that business enthusiasm over his approach to […]
Economy Adds Almost 300,000 New Jobs In February
WASHINGTON – U.S. private businesses added the most jobs in three years last month, a private survey found, a sign that hiring is picking up seven years after the recession ended. Payroll processor ADP said Wednesday that businesses added 298,000 jobs in February, up from 261,000 in January. The gains were led by a huge 66,000 […]
68 Macy stores closing, 10k jobs to be cut
The announcement was issued alongside an unfavorable earnings report, showing comparable store sales dipped 2.1% last quarter. The news caused its stock to plunge nearly 10% during after-hours trading Wednesday. Macy’s (M) said it expects to layoff about 3,900 workers as a result of the upcoming store closures, and another 6,200 jobs will be cut […]
Trump chooses fast food exec to head the U.S. Department of Labor
WASHINGTON (Reuters) – President-elect Donald Trump will name fast-food executive Andy Puzder to head the U.S. Department of Labor, according to a source familiar with the matter, in an appointment likely to antagonize organized labor. Puzder, chief executive of CKE Restaurants Inc [APOLOT.UL], which operates the Carl’s Jr. and Hardee’s fast-food chains, has been a […]
Unemployment rate dropped to 4.6%; Adds 178k jobs in November
The U.S. economy added 178,000 jobs in November, while the unemployment rate fell to 4.6 percent, a level not seen since August 2007, according to government data released Friday morning. The first employment report since voters went to the polls last month shows an economy in strong shape as President-elect Donald Trump prepares to take office. “It looks […]
Elon Musk says ‘Robots will take your jobs, force government will have to pay you’
Computers, intelligent machines, and robots seem like the workforce of the future. And as more and more jobs are replaced by technology, people will have less work to do and ultimately will be sustained by payments from the government, predicts Elon Musk , the iconic Silicon Valley futurist who is the founder and CEO of […]
October adds 161,000 jobs as unemployment rate dips to 4.9 percent
The U.S. labor market continues to show signs of gradual strengthening, with newly released government data showing the economy added 161,000 jobs last month. Annual wage growth surged to levels not seen since the financial crisis, while the unemployment rate dipped to 4.9 percent in October from 5 percent the previous month. While monthly job gains for October […]