Jobless claims are on the rise again. But that doesn't mean the recovery is doomed
CNN
Claims for unemployment benefits recently fell to a pandemic-era low. But they rose again last week, muddying the picture of the US jobs recovery.
Another 744,000 American workers filed first-time claims for unemployment benefits on a seasonally adjusted basis, according to the Labor Department. It was an increase from the week before, but more notably, it was far more claims than economists had predicted. Just two weeks ago, initial jobless claims dropped to 658,000, the lowest level since the pandemic hit American shores. But since then, the trend in the data has reversed course.
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President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.
Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.
President Donald Trump’s shock-and-awe tariff campaign is off to a slow start when it comes to reviving American manufacturing jobs.
For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law.
President Donald Trump late Thursday threatened a 35% tariff on goods imported from Canada, a dramatic escalation in an on-again, off-again trade war with America’s northern neighbor and one of its most important trading partners.
The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday.
A group of leading tech companies is teaming up with two teachers’ unions to train 400,000 kindergarten through 12th grade teachers in artificial intelligence over the next five years.
Tesla finally announced the date of its annual meeting. That’s after dozens of angry shareholders asked what was taking it so long.
London’s Heathrow Airport is hoping to get travelers into the holiday mood this summer with a soundtrack of real-life jet engines, lift dings and baggage sirens.
Grok, the chatbot created by Elon Musk’s xAI, began responding with violent posts this week after the company tweaked its system to allow it to offer users more “politically incorrect” answers.
Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal.
Since the start of the century, the number of journalists working in the United States has declined by more than 75 percent, according to the study.
President Donald Trump sent out a slew of letters Wednesday to some global trading partners, advising them of tariff levels as high as 50% for their exports to the United States.