After searing inflation,

After searing inflation,

Treasury Secretary Janet Yellen said “American workers are getting ahead” now that their pay is growing faster than inflation, making the Biden administration’s case that the U.S. has rebounded from the economic calamity caused by the pandemic.  “We know that Americans are experiencing discomfort because some important prices are higher than they were pre-pandemic,” Yellen … Read more

The job market is strong. So why did layoffs double in January?

The job market is strong. So why did layoffs double in January?

The job market remains one of the U.S. economy’s main engines, with the nation’s unemployment rate near a 50-year low and wages finally pulling ahead of inflation. At the same time, major companies in technology, finance, media and other key sectors have all recently announced sizable job cuts, with layoffs nationwide more than doubling in January … Read more

High rents leave many financially stretched

High rents leave many financially stretched

High rents leave many financially stretched – CBS News Watch CBS News While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to … Read more

UPS to cut 12,000 jobs 5 months after agreeing to new labor deal

UPS to cut 12,000 jobs 5 months after agreeing to new labor deal

UPS said Tuesday it will cut 12,000 jobs, with the mass layoff coming only months after the delivery company averted a massive strike by agreeing to a new labor contract. The Teamsters in August voted to approve a tentative five-year contract agreement with UPS, putting a final seal on contentious labor negotiations thathas  threatened to disrupt … Read more

U.S. economy sees faster-than-expected growth

U.S. economy sees faster-than-expected growth

U.S. economy sees faster-than-expected growth – CBS News Watch CBS News The U.S. economy ended 2023 with stronger than expected growth, the Commerce Department reported Thursday. However, it’s been a tale of two economies for many Americans. Nikki Battiste explains. Be the first to know Get browser notifications for breaking news, live events, and exclusive … Read more

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter

The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and … Read more

These jobs saw the biggest pay hikes across the U.S. in 2023

These jobs saw the biggest pay hikes across the U.S. in 2023

How to secure dream job in 2024 How to secure dream job in 2024 03:08 The ferocious inflation that slammed Americans during the pandemic was partially offset by the strongest pay gains in years. Even as people paid more for everything from groceries to rent, real weekly earnings for the typical U.S. worker rose 1.7% … Read more