Latest Employment figures News

Fed officials call for more rate hikes to fight inflation

Sep. 26, 2022 18:16 PM EDT

WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday. Susan Collins, the new president of the Federal...

More Americans apply for jobless aid last week

Sep. 22, 2022 08:59 AM EDT

WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation. Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor...

EXPLAINER: How do we know when a recession has begun?

Sep. 21, 2022 16:37 PM EDT

WASHINGTON (AP) — The Federal Reserve sent a sobering message Wednesday after it announced its latest big interest rate hike: It plans to keep raising rates as long as it takes to conquer the worst inflation bout in decades — even at the risk of causing a recession in the process. ...

Fed attacks inflation with another big hike and expects more

Sep. 21, 2022 16:21 PM EDT

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an...

Walmart takes a cautious approach to holiday hiring

Sep. 21, 2022 13:47 PM EDT

NEW YORK (AP) — Walmart is taking a cautious approach to the holiday shopping season, announcing it will hire 40,000 U.S. workers for the holidays, a majority of them seasonal workers. The move, announced Wednesday, comes as the nation's largest retailer and largest private...

Employers finding new ways to find, retain workers

Sep. 17, 2022 10:22 AM EDT

WEST PALM BEACH, Fla. (AP) — Extra workers are needed every winter tourist season at the Palm Beach Marriott Singer Island Resort & Spa, but this year, inventive minds turned a standard job search into art. Using the hotel’s beach as a canvas, hotel officials arranged...

Idaho unemployment bumps up to 2.7%, labor force grows

Sep. 16, 2022 13:56 PM EDT

BOISE, Idaho (AP) — Idaho’s unemployment rate rose one-tenth of a percent to 2.7% in August but remained below 3% for the seventh consecutive month, state officials said Friday. The Idaho Department of Labor said that more than 930,000 Idaho workers have jobs while about 26,000...

Mortgage rates hit 6%, first time since 2008 housing crash

Sep. 15, 2022 17:22 PM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year...

Fewer Americans file for jobless benefits again last week

Sep. 15, 2022 08:40 AM EDT

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell again last week to a four-month low even as the Federal Reserve continues its aggressive interest rate cuts to bring inflation under control. Applications for jobless aid for the week ending Sept. 10...

Powell: Higher rates unlikely to cause deep US recession

Sep. 08, 2022 12:01 PM EDT

WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment. On Thursday, Chair Jerome Powell...