Latest Labor economy News

GM to spend $6.5B, add 4,000 jobs at Michigan EV factories

Jan. 21, 2022 20:27 PM EST

LANSING, Mich. (AP) — General Motors is poised to announce next week major electric-vehicle investments in Michigan, with plans to spend $6.5 billion and create up to 4,000 new jobs at two plants. The state's economic development board is expected to approve an incentives package...

California jobless rate dips half-percentage point to 6.5%

Jan. 21, 2022 15:05 PM EST

SACRAMENTO, Calif. (AP) — California's unemployment rate dipped a half-percentage point in December as the most populous state added 50,700 nonfarm jobs, accounting for more than a quarter of the nation’s 199,000 new jobs for the month, according to new data released Friday. The...

Pennsylvania payrolls grew in December amid labor shortage

Jan. 21, 2022 11:10 AM EST

HARRISBURG, Pa. (AP) — Pennsylvania’s payrolls grew again in December as the unemployment rate fell for the 10th straight month, according to new figures Friday, but a persistent worker shortage continued to keep labor markets tight. Pennsylvania’s unemployment rate dropped...

Asian shares slide after more losses on Wall Street

Jan. 20, 2022 23:06 PM EST

BANGKOK (AP) — Shares were lower in Asia on Friday after a late afternoon sell-off wiped out gains for stocks on Wall Street. Tokyo fell 1.4% after Toyota Motor Corp. announced production cuts due to parts shortages. Other major regional markets also fell. Oil prices slipped,...

NYC's mayor invests first paycheck in cryptocurrency

Jan. 20, 2022 18:43 PM EST

NEW YORK (AP) — New York City's new mayor, Eric Adams, plans to convert his first paycheck this week into two cryptocurrencies, which he has been hyping as a potential economic engine for the city. The Democrat's office announced Thursday that Adams' first salary payment will be...

Carney focuses on jobs, education in speech to lawmakers

Jan. 20, 2022 18:43 PM EST

DOVER, Del. (AP) — Democratic Gov. John Carney stressed the need to expand Delaware’s economy and improve its public schools during his State of the State speech to lawmakers Thursday. Carney also thanked state officials for their response to the coronavirus pandemic and...

Analysis: Biden finds inflation overshadows strong economy

Jan. 20, 2022 13:01 PM EST

President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. His $1.9 trillion coronavirus relief package, enacted in March, drove what will probably be the fastest economic...

Rhode Island unemployment rate drops to 4.8% in December

Jan. 20, 2022 11:28 AM EST

CRANSTON, R.I. (AP) — Rhode Island's unemployment rate dropped to 4.8% in December, down three-tenths of a percentage point from the November rate but higher than the national rate of 3.9%, the state Department of Labor and Training said Thursday. The state's December rate was also...

Georgia unemployment rate again falls to new all-time low

Jan. 20, 2022 10:48 AM EST

ATLANTA (AP) — Another month brought another all-time low for Georgia's unemployment rate in December, as it dipped to 2.6%. For the third month in a row, that's the lowest level since current records began in 1976, falling from 2.8% in November and less than half the 5.3% reported...

US jobless claims rise to 286,000, highest since October

Jan. 20, 2022 09:56 AM EST

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant continued to disrupt the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since...