Iowa unemployment claims increase
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The new Intel chip plant announced in Licking County, just east of New Albany, has plenty of eye-popping numbers: $20 billion in investment and an estimated 20,000 jobs generated by the project.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeOther figures that stood out to us:$135,000: The average wage for an Intel worker at the site, plus benefits.$64,589: The median household income in Licking County, per U.S. Census Bureau.30: Years Intel wi
- Business Insider
One of the largest trucking companies in the US is giving raises of up to 33%, allowing drivers to make up to $150,000 in their first year, amid worker shortage
Trucking firm KLLM Transport Services announced this week it is raising pay and compensation for drivers, including students just out of training.
- LA Times
The contentious single-payer healthcare bill, AB 1400, sailed through the Assembly Appropriations Committee on a party-line 11-3 vote without any discussion, columnist George Skelton writes.
Team Transitory has been wrong so far. Here's what the Federal Reserve needs to do to regain its credibility.
The "curse" of Olympic overspending looks set to strike again at the Beijing Games, with stringent Covid measures and loss of ticket sale revenues pushing up costs for China.
- The Week
But what can be done?
- Yahoo Finance
High inflation levels like those seen in December’s CPI report may be here to stay, says Key Private Bank CIO George Mateyo.
- USA TODAY Opinion
President Joe Biden has gotten results, and the greatest year of job creation in history shows that.
BEIRUT (Reuters) -The Lebanese cabinet met on Monday for the first time since October, convening after Iranian-backed Hezbollah ended a boycott but with the powerful group and others objecting to a draft budget that was the main agenda item. With Lebanon mired in one of the world's sharpest financial crises, Prime Minister Najib Mikati hopes passing a budget will help talks with the International Monetary Fund (IMF) aimed at securing an IMF bailout. Lebanon has failed since 2020 to make progress on winning an IMF bailout, with no sign of long-delayed reforms sought by donors.
The cryptocurrency is now around prices not seen since last August, and far off the nearly $69,000 level it hit in November.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergFutures Drop Amid Fed, Ukraine Risks; Bonds Gain: Markets WrapCrypto Crash Erases More Than $1 Trillion in Market ValueUAE Repels New Attack as Yemen’s Houthis Vow More to ComeMorgan Stanley’s Slimmon Warns Against Buying Growth-Stock DipSolana Suffers Network Instability in Brutal Week for CryptoThe European Union has a lot more to lose than the U.S. from confli
- Motley Fool
In December, the national unemployment rate reached its lowest level since the start of the pandemic. For the week ending Jan. 15, new unemployment claims totaled 286,000. For context, for the week ending Jan. 8, newly filed jobless claims amounted to 231,000.
China’s Retailers Face Covid Restrictions as Holidays and Olympics Approach. E-Commerce Giants Are Still Ramping Up Promotions.
China's Covid restrictions will knock the confidence of Chinese consumers, who will likely spend less during the holiday season.
The IRS will start accepting 2021 tax returns in less than a week, and the filing delays and administrative headaches to come might eclipse last year — which was “one of the worst filing seasons," according to an independent advocacy agency within the IRS.Why it matters: For taxpayers, especially with complex or paper filings, this means headaches, delayed refunds, and mistakes. Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for free“Things might be m
- Yahoo News UK
A Russian invasion of Ukraine could spark record-breaking energy prices.
Jerome Powell’s Federal Reserve must now wrestle with how quickly and aggressively to raise rates and end its asset purchases. This coming week’s policy-setting meeting will tell investors a lot about the path ahead.
(Bloomberg) -- Interest-rate markets remain resolute in anticipating that the Federal Reserve will plow on with increasing borrowing costs even as riskier assets tumble globally and geopolitical discord ramps up. Most Read from BloombergStocks Get Crushed in Risk-Off Day as Bonds Rally: Markets WrapUAE Says New Attack Repelled as Yemen’s Houthis Vow MoreCrypto Crash Erases More Than $1 Trillion in Market ValueChina’s ‘Little Giants’ Are Its Latest Weapon in the U.S. Tech WarSolana Suffers Networ
- FX Empire
Gold is being underpinned because investors are betting the U.S. economy may be in worse shape than the Fed thinks.
At the U.S. Conference of Mayors' meeting in D.C. this week, there's buzz around the idea of giving cryptocurrency accounts to low-income people.Why it matters: Cities have been experimenting with newfangled ways to address income inequality — like guaranteed income programs — and the latest wave of trials could involve paying benefits or dividends in bitcoin, stablecoin or other digital currencies.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for fr
- Associated Press
The Dow Jones Industrial Average dropped more than 1,000 points Monday as financial markets buckled in anticipation of inflation-fighting measures from the Federal Reserve and fretted the possibility of conflict between Russia and Ukraine. Stocks have fallen sharply so far this year as the market readies for the Fed to raise interest rates to try to tame inflation, which is at its highest level in nearly four decades. The Dow fell 2.9% to 33,236.25 and the Nasdaq fell 4.3%.