Economy

Ice cream scoopers can make $17 an hour and at least one firm has recruited people from Puerto Rico, in a state with an unemployment rate of 1.8 percent.September 4, 2022 at 7:00 a.m. EDTRobbie Wright paints pieces of metal equipment at family-owned Jones Metal in Mankato, Minn., last month. (Caroline Yang for The Washington Post)Comment on this…

Inflation: The US Federal Reserve’s preferred inflation metric, the core personal consumption expenditures index, is expected to have risen 0.2 per cent in October. Economists forecast the year-on-year increase to have eased to 3.5 per cent from 3.7 per cent in September.Jobless claims: Initial US state unemployment applications, a proxy for…

Moody's, a credit rating agency, has downgraded its outlook on the US government from 'stable' to 'negative', citing the risks to the nation's fiscal strength and the political polarization in Congress. The agency has maintained the US's current top-grade AAA rating, but has raised the possibility that it may be cut in the future.Moody's said…

(Bloomberg) -- Inflation gauges in the US and euro zone are set to show the smallest annual increases since early or mid-2021, reinforcing sentiment that interest rates won’t be raised again.Most Read from BloombergThe Federal Reserve’s preferred measures will be published on Thursday, with the personal consumption expenditures price index seen…

Two decades ago, China and India’s economies were neck and neck, and would famously often be compared as the Dragon and Elephant at investors’ meetings, where attendees would dwell on their relative merits. Over the years, the Dragon beat the Elephant hands down to emerge as the world’s factory.But India now looks set to make a pivot, analysts…

Consumers who have been squeezed by higher prices may be experiencing a little relief.Fewer adults now say they are living paycheck to paycheck, according to a new LendingClub report. As of July, 59% of Americans said they lived paycheck to paycheck, down from 61% in June but still higher than a year ago, when the number of adults who felt…

It's a hot summer with a labor market to match. The question is no longer "is this a recession," but rather: "Is the job market too hot for the Fed's comfort?"Driving the news: The jobs slowdown economists have been expecting isn't materializing. Rather, the economy added 528,000 jobs in July — the strongest print since February, and double what…

Patrick T. Fallon/AFP/Getty Images After a robust third quarter, the US economy is widely expected to grow at a much slower rate in final months of the year as pandemic savings dwindle and interest…

NEW YORK (AP) — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties. Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped. More…

NEW YORK, Nov 8 (Reuters) - Bank of America (BAC.N) CEO Brian Moynihan said on Wednesday he expects a soft landing in which the U.S. economy avoids a recession even as consumer spending and commercial borrowing slow."Our research team is the best in the business and they have moved to the soft landing category. They have a slowdown in the…