The U.S. economy added a higher-than-expected 303,000 new jobs in March, while the unemployment rate was still below 4 percent, according to the Bureau of Labor Statistics. Tech industry layoffs continue, with the most recent being Apple. It’s letting go of over 600 workers in California. The cuts are reportedly from its Apple Car and […]
The U.S. economy added a higher-than-expected 303,000 new jobs in March, while the unemployment rate was still below 4 percent, according to the Bureau of Labor Statistics (BLS). The labor market continues to remain resilient in a climate of high-interest rates and above-trend inflation. February job gains were revised down by 5,000 to 270,000. The […]
LONDON—Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps, and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and […]
The U.S. economy added a larger-than-expected 275,000 new jobs in February as the labor market continues to defy economists’ expectations of a slowing market. According to the Bureau of Labor Statistics (BLS), the unemployment rate rose to 3.9 percent last month, up from 3.7 percent in January. This was higher than market forecasts of 3.7 […]
The U.S. economy created 353,000 new jobs in January, nearly doubling economists’ forecasts, highlighting a solid labor market to kick off 2024. According to the Bureau of Labor Statistics (BLS), the unemployment rate was unchanged at 3.7 percent, coming in below the consensus estimate of 3.8 percent. The employment gains were concentrated mainly in health […]
The United Parcel Service (UPS) on Tuesday announced 12,000 job cuts after reporting a decline in the volume of packages being shipped, coming months after the company came to an agreement with a top union to pay drivers higher wages. Officials with the shipping firm confirmed to several news outlets the number of job cuts, […]
LONDON—Indian firm Tata Steel announced Friday it will close both blast furnaces at its plant in Port Talbot, Wales, eliminating 2,800 jobs, as part of plans to make its unprofitable UK operation leaner and greener. Tata plans to switch from coal-fired blast furnaces to an electric arc furnace, which emits less carbon—and needs fewer workers—using […]
U.S. department store chain Macy’s is cutting 2,350 jobs and closing five stores, as it aims to streamline its operations, a company spokesperson told Reuters on Thursday. The layoffs make up 3.5 percent of the overall workforce across Macy’s. The company operated 722 store locations as of January 2023 and employed 94,570 full- and part-time […]
The U.S. economy created 216,000 new jobs in December, and the unemployment rate remained below 4 percent for the 23rd straight month. The Biden administration championed the news, with officials suggesting that the country has achieved a soft landing. However, economists are digging deeper into the monthly Bureau of Labor Statistics (BLS) jobs report, spotlighting […]
The U.S. economy has achieved the goal of a “soft landing” as inflation slows without enduring an economic downturn, says Treasury Secretary Janet Yellen. Appearing on CNN shortly after the release of the December jobs report on Jan. 5, Ms. Yellen revealed that she thinks the current economic conditions could be described as a soft […]
The U.S. economy added 216,000 new jobs in December, according to the Bureau of Labor Statistics (BLS). That was better than the 170,000 predicted by economists and higher than November’s gain. Job gains were revised down in both October and November. Employment in those months is now 71,000 lower than previously reported, according to the […]
Argentina’s new President Javier Milei has revealed plans to lay off an estimated 5,000 state employees hired this year before his taking office as part of wider efforts to slash government spending amid the backdrop of the country’s troubled economy. Mr. Milei, an economist, signed a decree on Dec. 26 stating that his government won’t […]
The U.S. economy created 199,000 new jobs in November, topping economists’ expectations and showing continued resilience in the home stretch of 2024. This was up from 150,000 in October. According to the Bureau of Labor Statistics (BLS), the unemployment rate dropped to 3.7 percent last month, down from 3.9 percent and better than the consensus […]
The U.S. economy created 150,000 new jobs in October, falling short of the consensus estimate of 180,000, according to the Bureau of Labor Statistics (BLS). Officials also revised the August and September by 62,000 and 39,000, respectively. In total, 101,000 positions disappeared from the jobs arena. So far this year, eight of the last nine […]
STOCKHOLM/HELSINKI—Nokia will cut up to 14,000 jobs to reduce costs, it said on Thursday, warning it did not expect a market recovery soon after posting a 20 percent drop in third-quarter sales on weaker demand for 5G equipment. A slowdown in the United States, home to Verizon and AT&T, and one of the more profitable […]
The U.S. economy created 336,000 new jobs in September, reversing the cooling trend that was seen over the summer months, according to new data from the Bureau of Labor Statistics (BLS). This was also an increase from the upwardly revised 227,000 in August and higher than the consensus estimate of 170,000. After seven months of […]
Job openings unexpectedly jumped in August, signaling that the demand for labor remains robust in a slowing economy and cooling job market. According to the Bureau of Labor Statistics (BLS), the number of job vacancies increased by 690,000 to 9.6 million at the end of August, up from an upwardly revised 8.92 million. The August […]
“Bringing jobs back from China.” That’s the message from South Carolina Senator and 2024 presidential hopeful Sen. Tim Scott (R-S.C.)—highlighting his campaign strategy during a roundtable discussion. Mr. Scott spoke to local businesses and manufacturing companies in Nevada. “If we bring those jobs home from China and around the world and create high-tech manufacturing locations […]
