Latest Labor economy News

FILE - In this Nov. 23, 2020 file photo, stone sculptures adorn the New York Stock Exchange.  Stocks are pulling lower again on Friday, Jan. 15, 2021,  after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline.   (AP Photo/Seth Wenig, File)

Stocks fall as economy's pain deepens, head for weekly loss

Jan. 15, 2021 2:45 PM EST

NEW YORK (AP) — Stocks are pulling lower on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 was down 0.5% in afternoon trading, with stocks of companies that most need a healthier economy taking the...

A sale sign is displayed near the entrance of a Hallmark store Tuesday, Jan. 12, 2021, in Orlando, Fla.  Retail sales fell for a third straight month, as a surge in virus cases kept people away from stores and restaurants during the holiday shopping season.     The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time since the spring.(AP Photo/John Raoux)

U.S. retail sales fell in December for 3rd straight month

Jan. 15, 2021 12:29 PM EST

NEW YORK (AP) — Americans cut back on spending in December for the third-straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 15, 2021. Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. (AP Photo/Lee Jin-man)

Asian shares mixed following Biden speech, Wall St retreat

Jan. 14, 2021 11:08 PM EST

Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...

A man and woman wearing masks to help protect themselves from the coronavirus share a smartphone on the street in Wuhan in central China's Hubei province on Thursday, Jan. 14, 2021. A global team of researchers for the World Health Organization arrived Thursday in the Chinese city where the coronavirus pandemic was first detected to conduct a politically sensitive investigation into its origins amid uncertainty about whether Beijing might try to prevent embarrassing discoveries. (AP Photo/Ng Han Guan)

The Latest: China says COVID-19 hospitalizations above 1,000

Jan. 14, 2021 9:40 PM EST

BEIJING — China says it is now treating more than 1,000 people for COVID-19 as numbers of cases continue to surge in the country’s north. The National Health Commission said Friday that 1,001 patients are under care for the disease, 26 of them in serious condition. It says 144 total new cases were...

FILE - In this Dec. 11, 2020 file photo, a worker shows a wad of Cuban pesos in Havana, Cuba, Friday, Dec. 11, 2020. In 2021, the government is implementing a deep financial reform that reduces subsidies, eliminates a dual currency that was key to the old system, and raises salaries, in hopes of boosting productivity to help alleviate an economic crisis and reconfigure a socialist system that will still grant universal benefits such as free health care and education. (AP Photo/Ramon Espinosa, File)

Cuba tweaks socialist model to encourage work amid crisis

Jan. 14, 2021 3:26 PM EST

HAVANA (AP) — For more than 60 years, Cuba supplied at least some rice, milk, beans, sugar, chicken, electrical power and even cigarettes to its people nearly free of cost regardless of whether they worked, allowing many to survive without a job or depend solely on remittances. But this year, the...

The closed sign of a former restaurant is displayed at a shopping center Wednesday, Jan. 13, 2021, in Houston. The latest figures for jobless claims, issued Thursday, Jan. 14, by the Labor Department, remain at levels never seen until the virus struck. (Melissa Phillip/Houston Chronicle via AP)

VIRUS TODAY: Unemployment claims in US rise to 965,000

Jan. 14, 2021 3:19 PM EST

Here’s what’s happening Thursday with the coronavirus pandemic in the U.S.: THREE THINGS TO KNOW TODAY — The number of people seeking unemployment aid soared last week to 965,000, the most since late August, offering evidence that the resurgent virus has caused a spike in layoffs. The Labor...

Andrew Walcott, owners of Fusion East Caribbean & Soul Food restaurant, poses for a photo at the restaurant in East New York neighborhood of the Brooklyn borough of New York, Thursday, Jan. 7, 2021.  Walcott had to furlough four employees at his restaurant just before Christmas, after New York state stopped allowing indoor dining.   (AP Photo/Mary Altaffer)

US unemployment claims jump to 965,000 as virus takes toll

Jan. 14, 2021 11:26 AM EST

WASHINGTON (AP) — The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the...

US jobless claims jump to 965,000 as layoffs remain high with economy in grip of virus

Jan. 14, 2021 8:32 AM EST
WASHINGTON (AP) — US jobless claims jump to 965,000 as layoffs remain high with economy in grip of virus.
An elderly Chinese man looks at map of Chinese showing its different ethnic groups and the slogan

US to block cotton from China region targeted in crackdown

Jan. 13, 2021 9:02 PM EST

WASHINGTON (AP) — The U.S. government announced Wednesday that it will halt imports of cotton and tomatoes from the Uighur region of China in its most sweeping action yet to pressure the Communist Party over its campaign against ethnic minorities. Officials said Customs and Border Protection will use its...

FILE - In this Jan. 8, 2021, file photo President-elect Joe Biden's nominee for Secretary of Commerce, Rhode Island Gov. Gina Raimondo speaks during an event at The Queen theater in Wilmington, Del. (AP Photo/Susan Walsh, File)

Biden's Commerce nominee says she has 'blueprint' for US

Jan. 13, 2021 3:37 PM EST

President-elect Joe Biden’s nominee to lead the Commerce Department said Wednesday if confirmed she will take much of what she has learned improving her home state of Rhode Island’s economy and apply it at the federal level. “Right before COVID, Rhode Island had a record number of jobs and...