economy
The U.S. Supreme Court struck down President Trump’s tariff program, ruling that Congress had not authorized it and that the president exceeded his authority in imposing the tariffs on his own. The decision represents one of the two most consequential rulings of the term, alongside the court’s gutting of the Voting Rights Act. The tariff […]
The Labor Department reported that the U.S. economy lost 92,000 jobs in February, and earlier job gains for December and January were revised downward. The NPR report says the figures increased concern that the job market is weakening after a period of instability. The story describes how the report affected expectations about economic direction and […]
Governor Kathy Hochul announced that New York’s maximum weekly unemployment insurance benefit will rise from $504 to $869 starting next week. The increase aims to provide greater relief amid the ongoing federal government shutdown, which has left thousands of workers without pay. Employers will also see savings—an average of $100 per employee—since they will no […]
President Donald Trump’s newly announced tariffs are expected to increase costs on a wide range of goods, from groceries and clothing to cars and home materials. Tariffs are essentially import taxes that raise the cost of foreign-made products, which often gets passed on to consumers. Economists warn the impact will be most severe for low-income […]
The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. […]
Global stock markets experienced a significant plunge on Monday, driven by fears of a U.S. economic slowdown. The Dow Jones opened over 1,000 points lower, the S&P 500 dropped by 4.25%, and the Nasdaq Composite fell by more than 6%, though they recovered slightly later in the day. Japanese stocks also faced severe losses, with […]
In 2023, CEO compensation packages for S&P 500 companies surged by nearly 13%, far outpacing the 4.1% wage increase for private-sector workers amid rising inflation. The median CEO pay reached $16.3 million, making the typical CEO earn nearly 200 times more than their median employee. Economic resilience and robust profits bolstered stock prices, leading to […]
Last month, U.S. employers added 678,000 jobs, which is the largest gain since last July. According to data, the unemployment rate fell to 3.8% last month, from 4% in January and job gains for December and January were also revised up by a total of 92,000 jobs. Nela Richardson, the chief economist for the payroll […]
New York Gov. Kathy Hochul made her first State of the State address last night. Hochul outlined a plan that includes more than $2 billion in tax cuts for middle-class taxpayers and small business owners as well as a $10 billion investment in the state’s healthcare system and workers to help alleviate the current staffing […]
According to Century Foundation, about 7.5 million workers on pandemic-era unemployment benefits will be cut off when extra benefits expire on September 6th. Critics of pandemic aid have say the benefits, have kept people from accepting new jobs that would jumpstart the economy. But, research also shows that financial assistance hasn’t kept people from taking […]
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