Workers hoping to switch jobs for a pay increase are in for some unpleasant news. That’s according to the latest employment report from ADP, released Wednesday (Dec. 6) and showing that the premium for changing jobs was at a three-year low last month, while overall pay growth continued to slow....
Bank of America CEO Brian Moynihan said Tuesday (Dec. 5) that there are signs of the economy slowing down but expressed optimism that it will experience a soft landing rather than a recession. Money is coming out of customer accounts and consumer spending has “leveled out,” which he...
New data from the U.S. Labor Department shows job openings at their lowest level in more than two years. The department’s Job Openings and Labor Turnover Survey (JOLTS), released Tuesday (Dec. 5), showed 1.34 vacancies for every unemployed person in October, the lowest level since August 2021...
Deflation has made its presence known, and could help bring inflation down to 2%. That’s according to a Sunday (Dec. 3) report by The Wall Street Journal, which noted that this falling price trend mostly applies to appliances, furniture, used cars and other goods and that...
The Federal Reserve’s Beige Book — released eight times a year — collects qualitative observations about current economic conditions across the central bank’s dozen districts. And in the latest edition of the Beige Book, respondents noted that the U.S. economy slowed headed into the final...
The latest data on personal spending matched expectations. And the parlor game as to whether the Fed will pause or even cut interest rates continues. Yet the Personal Consumptions Expenditures index (PCE), as released by the Commerce Department on Thursday (Nov. 30), shows that the prices for...
The latest report from the Bureau of Economic Analysis, released on Wednesday (Nov. 29), noted the U.S. economy grew 5.2% annualized, as measured in the third quarter. That’s up from 4.9% previously estimated last month. Inflation is slowing, per the data: The quarterly metric that...
The founder of online luxury fashion retailer Farfetch, José Neves, reportedly aims to take the company private. Neves, who has a 15% stake and 77% of the voting rights, is working with advisors at JPMorgan on the potential move, Reuters reported Tuesday (Nov. 28), citing a paywalled article by the Telegraph. ...
President Joe Biden has warned corporations to bring down what he says are inflated prices. “Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price gouging,” Biden...
