Latest Labor economy News

CEO pay rose 17% in 2021 as profits soared; workers trailed

May. 27, 2022 11:41 AM EDT

NEW YORK (AP) — Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according...

Prepare for sticker shock if you are traveling this summer

May. 27, 2022 08:43 AM EDT

DALLAS (AP) — Airlines and tourist destinations are expecting monster crowds this summer as travel restrictions ease and pandemic fatigue overcomes lingering fear of contracting COVID-19 during travel. Many forecasters believe the number of travelers will match or even exceed...

Editorial Roundup: New England

May. 27, 2022 07:13 AM EDT

Bangor Daily News. May 26, 2022. Editorial: An avoidable mistake will cost the University of Maine System, in terms of money and credibility It’s human nature not to want to share bad news. However, it should also be well understood that bad news can’t be hidden...

US education chief seeks action to prevent school shootings

May. 26, 2022 17:31 PM EDT

WASHINGTON (AP) — Education Secretary Miguel Cardona said Thursday he is ashamed the United States is "becoming desensitized to the murder of children” and that action is needed now to prevent more lives from being lost in school shootings like the one in Uvalde, Texas. Cardona...

Worry about stagflation, a flashback to '70s, begins to grow

May. 26, 2022 16:03 PM EDT

WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. ...

US economy shrank by 1.5% in Q1 but consumers kept spending

May. 26, 2022 09:29 AM EDT

WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter's drop in...

Fewer Americans apply for jobless benefits last week

May. 26, 2022 08:42 AM EDT

WASHINGTON (AP) — Fewer Americans applied for jobless aid last week with the number of Americans collecting unemployment benefits already near five-decade lows. Applications for unemployment benefits fell by 8,000 to 210,000 for the week ending May 21, the Labor Department reported...

Rice company's new product line brings 20 new jobs in Acadia

May. 25, 2022 18:28 PM EDT

BATON ROUGE, La. (AP) — Louisiana economic development officials said Wednesday that 20 jobs will be created in Acadia Parish when a rice milling company invests $16.2 million in facilities to make ready-to-eat products. Supreme Rice is making the investment to develop parboil...

Lilly plans new $2.1 billion manufacturing sites in Indiana

May. 25, 2022 16:47 PM EDT

INDIANAPOLIS (AP) — Eli Lilly and Company plans to invest $2.1 billion in two new Indiana manufacturing sites, a move that's expected to create hundreds of new jobs in the Hoosier state, the company announced Wednesday. The new facilities will expand the Indianapolis-based...

Food company to create more than 200 jobs in North Carolina

May. 24, 2022 16:34 PM EDT

RALEIGH, N.C. (AP) — A fresh foods manufacturer says it is expanding production in the Southeast with plans to invest over $42 million in a North Carolina production facility which will create more than 200 jobs, Gov. Roy Cooper announced Tuesday. Häns Kissle Co. will build a...