unemployment

Three signs from today’s jobs report that suggest inflation will stay high

Friday’s jobs report showed the buzzing US economy is creating hundreds of thousands of jobs, suggesting rising prices are here to stay despite efforts by the Federal Reserve to contain them. The US added 263,000 jobs in November, according to the federal jobs report released Friday, far more than the 200,000-job gain economists expected to …

Three signs from today’s jobs report that suggest inflation will stay high Read More »

Employees to shift focus to ‘career cushioning’ as job cuts rise

Holger Scheibe | The Image Bank | Getty Images The rate of job cut announcements at US employers in November was more than five times greater than a year ago, according to a report by Challenger, Gray & Christmas. Overall, US-based firms announced 76,835 job cuts in November, led by the technology sector. So far …

Employees to shift focus to ‘career cushioning’ as job cuts rise Read More »

Amazon CEO explains thinking behind layoffs as unionized warehouse workers protest outside

CNN Business — Amazon CEO Andy Jassy on Wednesday said an “uncertain” economy pushed the e-commerce giant to move forward with rare and wide-ranging layoffs after having gone on a significant hiring spree for much of the pandemic. “We had the lens of a very uncertain economic environment, as well as our having hired very …

Amazon CEO explains thinking behind layoffs as unionized warehouse workers protest outside Read More »

Latest weekly jobless claims jump to 240,000

Minneapolis CNN Business — First-time weekly claims for unemployment benefits jumped to 240,000 for the week ended November 19, according to data released Wednesday by the Department of Labor. That’s a sharp increase of 17,000 from the previous week’s upwardly revised tally of 222,000, and surpasses economists’ expectations of 225,000. It’s the highest weekly total …

Latest weekly jobless claims jump to 240,000 Read More »

HP says it will lay off thousands of workers over the next couple years

CNN Business — HP Inc. announced on Tuesday that it will lay off thousands of workers over the next three years, becoming the latest tech company to significantly downsize staffing amid a souring economic climate. The computer maker disclosed the major job cuts in a statement accompanying its lackluster quarterly earnings report on Tuesday afternoon, …

HP says it will lay off thousands of workers over the next couple years Read More »

Twitter Africa employees accuse Elon Musk of discrimination over severance terms

CNN Business — Laid-off employees at Twitter’s Africa headquarters are accusing Twitter of “deliberately and recklessly flouting the laws of Ghana” and trying to “silence and intimidate” them after they were fired. The team has hired a lawyer and sent a letter to the company demanding it Comply with the West African nation’s labor laws, …

Twitter Africa employees accuse Elon Musk of discrimination over severance terms Read More »

Fed’s Collins expresses hope that inflation can be tamed without hitting jobs

Susan Collins, Boston Federal Reserve Source: Federal Reserve Bank of Boston Boston Federal Reserve President Susan Collins expressed confidence Friday that policymakers can tame inflation without doing too much damage to employment. “By raising rates, we are aiming to slow the economy and bring labor demand into better balance with supply,” Collins said in prepared …

Fed’s Collins expresses hope that inflation can be tamed without hitting jobs Read More »