In the first two weeks of the new year, several prominent companies, including Amazon, Citigroup, Xerox, Google and BlackRock, have announced plans to cut jobs, signaling a continued push for efficiency and cost reduction. Despite improving economic conditions and a strong labor market, these companies...
The end of inflation? The end of the pinch to paycheck-to-paycheck wallets? Hardly. And, per the latest Consumer Price Index data, released Thursday (Jan. 11) by the Labor Department, the most basic of expenses — especially shelter — proved to be more expensive headed into the...
Consumers expect the punishing pace of inflation to decline in the months and years ahead. But they’re reigning in their spending plans, too — a possible sign that they’re looking to rebuild savings. For merchants, the signs are decidedly mixed. On Monday (Jan. 8), the...
Through the last several months, payment networks, banks and buy now, pay later (BNPL) firms have pointed to the resilience of the U.S. consumer. Consumers have increasingly opened the proverbial purse strings at restaurants, venues and hotels while traveling. Services, then, are in demand, as...
The U.S. economy added 216,000 jobs in December, with the government and healthcare sectors posting the biggest gains. The number of jobs added during the month was lower than the average monthly gain of 225,000 seen in 2023, the Bureau of Labor Statistics (BLS) said...
The number of initial claims for unemployment insurance dropped to 202,000 during the week ended Saturday (Dec. 30). That total was 18,000 less than the previous week’s revised level of 220,000, the Department of Labor (DOL) said in a Thursday (Jan. 4) press release. The...
The number of job openings in the United States was little changed in November, while the number of hires and total job separations decreased. On the last business day of November, there were 8.8 million job openings, the Bureau of Labor Statistics (BLS) said in...
Automakers enjoyed a resurgence in sales in 2023, but 2024 might be a different story. With major car companies due to report year-end sales figures this week, analysts are forecasting sales of new cars for the U.S. could reach nearly 15.5 million for 2023, a...
Insolvency experts are reportedly gloomy about what 2024 will bring big companies. These firms will face continued high borrowing costs and reduced consumer spending, with tech companies among those facing financial upheaval, the Press Association reported Sunday (Dec. 31), citing interviews with industry experts. The report cited...
