SEATTLE—Boeing plans to make staffing cuts in the aerospace company’s finance and human resources departments in 2023, with a loss of around 2,000 jobs, the company said. “We expect about 2,000 reductions primarily in Finance and HR through a combination of attrition and layoffs,” Boeing said in a statement Monday. “While no one has been…
‘Soft Landing’ for Texas Economy, Dallas Fed Forecasts
February 6, 2023
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The Texas economy is expected to make a “soft landing” this year, according to the Federal Reserve Bank of Dallas. Job increases are slowing. The bank expects jobs to grow by 1.4 percent this year, significantly lower than last year’s 3.5 percent job growth and below the state’s annual 2 percent trend. “That is consistent with…
NTD Evening News (Feb. 3): Lawmakers Demand Action on Chinese Spy Balloon; Blinken Postpones Trip to China Amid Rising Tensions
Lawmakers from both sides of the aisle are demanding action from the Biden administration on Feb. 3, after a Chinese spy balloon was discovered over U.S. airspace. President Joe Biden chose not to shoot the balloon down due to potential risks to civilians on the ground. China claims that the balloon, which is the size…
Wall Street Rally Hits Wall of Hot Jobs, Cold Earnings Data
NEW YORK—Wall Street’s big rally to start the year wilted on Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates. The S&P 500 fell 1 percent for its first drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in…
Headline Jobs Is a Blowout, but Fed Likely to Resume Hikes Longer or Higher
Commentary The January jobs report Establishment Survey showed that the economy added 517,000 new jobs, wildly beyond the consensus estimate of 185,000 jobs. Net revisions for November and Decembber resulted in an additional 71,000 more jobs for the last three months. (It is generally believed that 200,000–250,000 jobs are required to accommodate population growth.) The…
Biden Takes Victory Lap on Strong Jobs Report, Refuses to Take Blame for Inflation
President Joe Biden took a victory lap on Friday after the U.S. economy reported 517,000 new jobs in January, topping most economists’ expectations. With outgoing National Economic Council (NEC) director Brian Deese and Council of Economic Advisors (CEC) head Cecilia Rouse behind him, President Biden claimed that he had created more jobs in two years…
US Economy Adds 517,000 New Jobs in January as Fed Tightening Fails to Cool Labor Market
The U.S. economy created 517,000 new jobs in January, up from an upwardly revised 260,000 in December, according to the Bureau of Labor Statistics (BLS). This is also higher than economists’ expectations of 185,000. The unemployment rate dipped to 3.4 percent, down from 3.5 percent and below the market estimate of 3.6 percent. Average hourly…
Deutsche Bank CEO Won’t Rule Out Job Cuts
FRANKFURT—Deutsche Bank CEO Christian Sewing on Thursday refused to rule out job cuts as the bank strives to lower costs, in a sign of the uncertainty facing the global financial industry as economic growth slows. Sewing, who heads Germany’s top lender that reaches from New York to Sydney, said the bank was looking to reduce…
Texas Beats Natural Gas Output Record, Sector Generated $24.7 Billion in State Revenue, 2.6 Million Jobs
January 31, 2023
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Texas led the United States in terms of natural gas output in 2022, with the state breaking its own production record, contributing to millions of jobs as well as billions of dollars in state tax revenues. Natural gas production in Texas hit a “new record” of more than 11.2 trillion cubic feet (Tcf) in 2022,…
Older American Workers Worried About Jobs, Taking on Additional Gigs for ‘Extra Money’
Older U.S. employees are troubled about the security of their jobs, worried about getting laid off over the next year, and concerned they might not be able to find a similar job within a meaningful period of time, even as many are turning to gig work for extra income. Many older workers were found to…
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