Tag Archives: US Economy

Trump says he doesn’t trust the jobs data, but Wall Street and economists do

Trump says he doesn’t trust the jobs data, but Wall Street and economists do

WASHINGTON (AP) — The monthly jobs report is already closely-watched on Wall Street and in Washington but has taken on a new importance after President Donald Trump on Friday fired the official who oversees it. Trump claimed that June’s employment figures were “RIGGED” to make him and other Republicans “look bad” yet provided no evidence. The firing of the Bureau of Labor Statistics director followed Friday’s jobs report that showed hiring was weak in July and had come to nearly a standstill in May and June. Economists and Wall Street investors have long considered the job figures reliable. Friday’s revisions were unusually large, and the surveys used to compile the report are facing challenges from declining response rates. But that hasn’t led most economists to doubt them.… Continue Reading

US job openings rose in April, signaling resilience in the American labor market

US job openings rose in April, signaling resilience in the American labor market

WASHINGTON (AP) — U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump’s trade wars. The Labor Department reported Tuesday that employers posted 7.4 million job vacancies in April, up from 7.2 million in March. Economists had expected opening to drift down to 7.1 million. But the number of Americans quitting their job — a sign of confidence in their prospects — fell, and layoffs ticked higher. Openings remain high by historical standards but have dropped sharply since peaking at 12.1 million in March 2022 when the economy was still roaring back COVID-19 lockdowns.… Continue Reading

Americans increased spending tepidly last month as anxiety over the economy takes hold

Americans increased spending tepidly last month as anxiety over the economy takes hold

WASHINGTON (AP) — U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores. The small increase suggests Americans may be growing more wary about spending as the stock market has plunged and President Donald Trump’s tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.… Continue Reading

Recent News

Powered By SoCast