The more sanguine consumers feel about the state of the world — particularly about the state of inflation — the more apt they are to spend. That’s the shorthand logic, anyway. But even with the positive mindset logged in the most recent reading from the...
Consumer sentiment has reached its highest level since July 2021, with consumers expecting improvements in both inflation and personal incomes. The index reached this level with a 13% month-over-month improvement in January, which was preceded by a 14% improvement in December, according to the University...
Zoom Video Communications cut about 150 jobs, or less than 2% of its workforce, this week. At the same time, the company will continue hiring for positions related to artificial intelligence (AI), sales and engineering, Bloomberg reported Thursday (Feb. 1), citing an unnamed source. A...
Construction spending increased in December, with both the private and public sectors making gains. Overall, construction spending totaled $2,096.0 billion in December, 0.9% higher than November and 13.9% higher than December 2022, the U.S. Census Bureau said in a Thursday (Feb. 1) press release. The...
Financial companies cut more jobs in January than in any month since September 2018. Companies in this sector announced 23,238 layoffs during the first month of the year, global outplacement and business and executive coaching firm Challenger, Gray & Christmas said in a Thursday (Feb. 1) press release....
Hiring and pay increases in the private sector slowed in January. The private sector added 107,000 jobs during the month, and annual pay increased by 5.2% year over year, ADP said in a Wednesday (Jan. 31) press release. Employees who changed jobs saw a 7.2%...
If you’re hesitating about leaving your job, you aren’t alone these days. Data released Tuesday (Jan. 30) in the U.S. Bureau of Labor Statistics’ monthly Job Openings and Labor Turnover Survey (JOLTS) report showed the number of people quitting their jobs dropping to 3.392 million, the...
Taken as a whole, the Commerce Department’s latest reading on inflation shows a dip below a key psychological level. The Personal Consumption Index, as released Friday (Jan. 26) showed a gain of 0.2% in December, and was up 2.9% from a year ago. That’s below the...
America’s economy grew 3.1% in 2023 amid continued consumer spending on vehicles and electronics. That’s according to figures released Thursday (Jan. 25) by the Commerce Department, which also showed the economy growing at 3.3% during the fourth quarter of the year. The findings show an increase in consumer...
