Economy

Zoom In IconArrows pointing outwards The U.S. economy added far more jobs than expected in January, boosted by a jump in leisure and hospitality employment. That one service sector saw an increase of 128,000 jobs in the month, led by 99,000 positions at restaurants and bars alone, the Bureau of Labor Statistics said in a report released

An employee works at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters A decrease in the unemployment rate of Black women is heartening, but labor experts warn that the trend shouldn’t create any false notions about equity in the workforce. The unemployment rate for the entire Black population

Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday. Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones

The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead. Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had

A Cuban pilgrim participates in the San Lazaro procession at El Rincon church in Havana, on December 16, 2022. Yamil Lage | AFP | Getty Images Accusations of bribery, an imprisoned Cuban bank official and Interpol all feature in a high-stakes case against the Cuban government set to start Monday in the United Kingdom’s High

Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning. Powell, 69, is “experiencing mild symptoms,” according to the announcement. “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news

A man pumps gas at a gas station in the Brooklyn borough of New York, the United States, Dec. 13, 2022. Michael Nagle | Xinhua News Agency | Getty Images December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an

The French government is presenting new plans to update the pension system. Analysts expect some backlash from some workers. Nurphoto | Nurphoto | Getty Images French President Emmanuel Macron is going at it again. A new pension reform proposal was presented Tuesday that included plans to raise France’s retirement age — which is expected to

Commuters arrive into the Oculus station and mall in Manhattan on November 17, 2022 in New York City. Spencer Platt | Getty Images The U.S. unemployment rate declined overall in December, but rose for Black women and Hispanic men, according to the latest nonfarm payrolls report. Black women saw unemployment increased to 5.5% last month,

Brexit has added more than £200 to the average U.K. household food bill, according to a new study from the London School of Economics. Nathan Stirk | Getty Images News | Getty Images LONDON — U.K. inflation came in slightly below expectations at 10.7% in November, as cooling fuel prices helped ease price pressures, though

The global economy likely faces a decade of sluggish growth, according to Daniel Lacalle, author and chief economist at Tressis Gestion. Economies around the world have been grappling with a multitude of shocks — from Russia’s invasion of Ukraine to China’s persistent zero-Covid measures — that have sent inflation soaring and weakened activity. related investing

Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy. Prior to this year, the Fed hadn’t boosted benchmark borrowing rates by more than a quarter-point at a time in 22 years. In 2022, they’ve done it five times — four

President of the European Central Bank Christine Lagarde attends a hearing of the Committee on Economic and Monetary Affairs in the European Parliament on November 28, 2022 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images The European Central Bank opted for a smaller rate hike at its Thursday meeting, taking its

Consumers pulled back on spending in November, failing to keep up with even a muted level of inflation for the month, the Commerce Department reported Thursday. Retail sales for the month declined 0.6%, even worse than the Dow Jones estimate for a 0.3% drop. The number is not adjusted for inflation as gauged by the

Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago, which was the

A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.  Spencer Platt | Getty Images As far as jobs reports go, November’s wasn’t exactly what the Federal Reserve was looking for. A higher-than-expected payrolls number and a hot wage reading that was twice

Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday. The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5%