Workers fear layoffs in Palm Beach County amid sagging economy
Amazon announced Wednesday that they plan to cut 18,000 jobs in the coming weeks.
Recommended Stories
FortuneDonald Trump was one of Brexit’s biggest cheerleaders. Now his Scottish golf courses are blaming it after over $5m in losses
Donald Trump's Turnberry golf resort hasn't made a profit in nearly a decade.
- Yahoo Finance
Why Republicans won’t reveal their spending cuts
Biden is demanding that Republicans "show your budget." Here's why.
- GOBankingRates
Manchin Proposes ‘Easiest’ Social Security Fix In Response to Debt Ceiling — Would Biden Agree?
On Jan. 19, the U.S. officially hit its debt ceiling, having spent all of the $31.4 trillion available for expenditures as allocated by the Treasury. In the days since, conversations have become...
- Detroit Free Press
Gov. Whitmer, Democratic leaders want to send 'inflation relief' checks to all taxpayers
The size of the checks and when they would be sent out was not specified in a Friday news release from Gov. Gretchen Whitmer and legislative leaders.
- Los Angeles Times Opinion
Calmes: On the debt-ceiling crisis, take it from moderate Republicans: Be afraid, be very afraid
We (barely) survived past GOP-induced default crises. This time, the most radical, least-seasoned House Republicans could force a looming economic cataclysm.
- LA Times
Back to having no basics: Iranians tighten belts as the economy tanks and protests continue
Iranians are finding it harder than ever to afford even basic goods as political unrest roils the country and the government cracks down harshly.
- Fortune
Employers are suffering from ‘pandemic paranoia’ and they’re scared to let go of workers, according to a global staffing firm
“Pandemic paranoia has set in with employers who remember how hard it was to bring back workers,” Becky Frankiewicz, president of ManpowerGroup, says.
- KIRO
Tech layoffs website tackles upheaval in tech industry
January proved to be a brutal month for technology company layoffs. A new website, layoffs.fyi, that’s tracking job cuts in the sector, says more than 80,000 jobs were slashed in that month alone.
- Business Insider
Russia is smashing open its $45 billion piggy bank of Chinese yuan as energy revenue crashes
Russia will sell 160.2 billion rubles ($2.3 billion) worth of foreign currency from February 7 to March 6, roughly triple from the prior month.
- USA TODAY Opinion
If Democrats fail to negotiate with GOP on debt, it's America's future that's held hostage
Just as a family needs to budget carefully after an unexpected expense, the federal government also needs to rein in its spending.
- Barrons.com
The Stock Market Stopped Worrying About the Jobs Report. Here’s Why.
The U.S. added more than twice as many jobs as expected, indicating the economy is powering ahead despite the Fed's efforts to slow it down.
- USA TODAY
How Medicare and Social Security benefits factor into the Kevin McCarthy debt ceiling fight
Republicans say Social Security and Medicare won't be part of debt ceiling negotiations between Speaker Kevin McCarthy and President Joe Biden.
- MarketWatch
Jobs report shows blowout 517,000 gain in U.S. employment in January
The number of new jobs created in January rose by 517,000 to mark the biggest increase in six months, suggesting little erosion in a dynamic U.S. labor market even as the economy weakens.
- Reuters
Fed seen hiking policy rate above 5% as job gains surge
The U.S. Federal Reserve is likely to need to lift the benchmark rate above 5% and keep it there to squeeze too-high inflation out of an economy where the labor market remains strong even after nearly a year of the most aggressive round of Fed rate hikes in 40 years. That was the betting in financial markets on Friday after the U.S. Labor Department reported employers added more than half a million jobs last month, far more than expected, and the unemployment rate fell to 3.4%, the lowest in more than 50 years. That was also how San Francisco Fed President Mary Daly saw it.
- Associated Press
An unexpected job surge confounds the Fed's economic models
Does the Federal Reserve have it wrong? For months, the Fed has been warily watching the U.S. economy's robust job gains out of concern that employers, desperate to hire, would keep boosting pay and, in turn, keep inflation high. The past year's consistently robust hiring gains have defied the fastest increase in the Fed's benchmark interest rate in four decades — an aggressive effort by the central bank to cool hiring, economic growth and the spiking prices that have bedeviled American households for nearly two years.
- Yahoo Finance
Stock market news live updates: Stocks slide after jobs report shocks, Big Tech results disappoint
U.S. stocks tumbled Friday after government employment data showed more than half a million jobs were added in January — throwing a wrench in hopes for a pause on rate increases — while subpar earnings results from Big Tech giants weighed on investor sentiment.
- Wichita Eagle
Kansas to OK secret incentives deal for $1 billion-plus megaproject in Wichita, sources say
The State Finance Council will meet at 4 p.m. to discuss an incentives package.
- Barrons.com
January’s Jobs Report Is a Nice Surprise. But Economists Are Scratching Their Heads.
The U.S. economy added a lot more jobs in January than economists had expected. It isn’t what the Federal Reserve wanted.
- Barrons.com
Jobs Growth Was Double the Forecast. It’s a Challenge for the Fed.
The U.S. unemployment rate fell to 3.4% from 3.5% in December, while the increases in nonfarm employment for December and November were revised higher.