More signs of weakness have surfaced in the U.S. labor market as a government report showed jobless claims rising above market expectations while data from outplacement firm Challenger, Gray & Christmas showed job cuts surging by a whopping 46 percent in September. The number of weekly unemployment filings came in at 219,000 last week, a Department…
Cracks Emerge in US Labor Market as Job Cuts Surge 46 Percent, Unemployment Claims Jump
Raising the Minimum Wage Leads to Job Cuts, Accelerates Automation
Commentary Proponents of a higher minimum wage believe it would reduce poverty, while economists believe it would reduce employment. Meanwhile, rising labor costs are driving automation to make workers redundant. On Aug. 16, President Joe Biden signed the $700 billion-plus Inflation Reduction Act. Some experts believe it will not help curb inflation, whereas others believe it will…
Half of US Companies Looking to Slash Jobs: PwC Survey
August 22, 2022
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As signs mount of an economic slowdown in America, half of U.S. companies are planning to cut jobs, even as business leaders fret about difficulties hiring and retaining talent, according to PricewaterhouseCoopers (PwC). While PwC’s most recent Pulse Survey shows business leaders saying that acquiring and retaining talent remains a serious risk, they’re also streamlining headcount….
Convenience Store Chain 7-Eleven Lays Off About 880 US Employees
Convenience store chain 7-Eleven slashed about 880 corporate jobs in the United States, a company spokesperson said on Thursday, as it finalizes its organization structure. The retail chain, owned by Japanese retailer Seven & i Holdings Co., cut jobs at its support centers and field support operations in Irving, Texas and Enon, Ohio, the spokesperson…
Ford Sees ‘Significant’ Job Cuts as It Picks Spain for EV Production
BARCELONA—Ford Motor Co said on Wednesday it will start producing electric vehicles in Spain later this decade but that would imply “significant” job cuts at its Spanish factory and another one in Germany amid its ambitious electrification push in Europe. The U.S.-based carmaker said in a statement it had chosen its plant in Valencia as…
Capitol Report (June 3): ‘Bad Feeling’ About Economy
June 3, 2022
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Biden administraitonCapitol ReportcommunismElon MuskEpochTVinflationjob cutsjob reportlabor marketNational SecurityteslaTiananmen Square MassacreUSUS NewsVictims of Communism
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President Joe Biden touts May’s jobs report, even as he admits it’s overshadowed by record-high inflation. And as Elon Musk warns about the economy, Biden brushes it off. To break down the latest jobs report, and what to expect in the labor market moving forward, we’ll hear from Bankrate’s chief financial analyst. The Biden administration’s…
Capitol Report (June 3): Biden Bushes Off Musk’s Comment on Economy; Analysis: Inflation to Stay
June 3, 2022
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Biden administraitonCapitol ReportcommunismElon MuskEpochTVinflationjob cutsjob reportlabor marketNational SecurityteslaTiananmen Square MassacreUSUS NewsVictims of Communism
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President Joe Biden touts May’s jobs report, even as he admits it’s overshadowed by record-high inflation. And as Elon Musk warns about the economy, Biden brushes it off. To break down the latest jobs report, and what to expect in the labor market moving forward, we’ll hear from Bankrate’s chief financial analyst. The Biden administration’s…
Capitol Report (June 3): Biden Brushes Off Musk’s Comment on Economy; Analysis: Inflation to Stay
June 3, 2022
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Biden administraitonCapitol ReportcommunismElon MuskEpochTVinflationjob cutsjob reportlabor marketNational SecurityteslaTiananmen Square MassacreUSUS NewsVictims of Communism
0 Comment
President Joe Biden touts May’s jobs report, even as he admits it’s overshadowed by record-high inflation. And as Elon Musk warns about the economy, Biden brushes it off. To break down the latest jobs report, and what to expect in the labor market moving forward, we’ll hear from Bankrate’s chief financial analyst. The Biden administration’s…
Illinois Jeep Cherokee Factory to Cut Over 1,600 Jobs Amid Global Chip Shortage
A Jeep Cherokee factory in Northern Illinois is cutting more than 1,600 jobs as multiple auto manufacturers are experiencing shortages in microchips.
Telstra to Slash 2000 Jobs by the End of 2021 Amid Market ‘Headwinds’
Telstra has announced it aims to cut 2000 jobs by the end of the year to reduce costs, as the telecommunications giant struggles to make a profit in the national broadband network market. The telco’s chief financial officer Vicky Brady confirmed the company is on track to axe 8000 staffs in its direct workforce as…
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