Latest Labor economy News

FILE - In this May 4, 2018, file photo, a man walks past a branch of HSBC bank in Hong Kong. Europe's biggest bank has reported that its net profit fell 53% in 2019 to $6 billion. London-based HSBC, whose profit is mainly from Asia, said it plans to revamp its U.S. and European business and shed $100 billion in assets to improve its profitability.  (AP Photo/Kin Cheung, File)

HSBC cuts headcount by 35,000 in deep overhaul

Feb. 18, 2020 8:51 AM EST

LONDON (AP) — Europe's biggest bank, HSBC, will shed some 35,000 jobs as part of an overhaul to focus on faster-growing markets in Asia and as it tries to cope with a slew of global uncertainties, from Brexit to the trade wars to the new coronavirus. The interim chief executive, Noel Quinn, said Tuesday...

In this Feb. 12, 2020, photo, a worker disinfects a mall near an advertisement for a car in Beijing, China. Automakers are gradually reopening factories in China that were idled by anti-virus control. (AP Photo/Ng Han Guan)

Automakers in China gradually reopen after virus shutdown

Feb. 17, 2020 5:49 AM EST

BEIJING (AP) — Automakers are reopening factories in China that were idled by anti-virus controls as they try to reverse a sales slump in their biggest market. Local officials have orders from the ruling Communist Party to get businesses functioning again while still enforcing anti-disease curbs that shut...

Spokane area continued upward trend in employment in 2019

Feb. 16, 2020 3:32 PM EST

SPOKANE, Wash. (AP) — An increasing population and a booming economy have spurred employment growth around Spokane, according to state labor officials. The region covering Spokane, Stevens and Pend Oreille counties, saw more than 4,600 new jobs in 2019, surpassing that mark for the fifth consecutive year,...

In this photo taken Tuesday, Feb. 11, 2020, a woman walks past Lunar New Year decor and shuttered bars at a retail district in Beijing, China. Millions of Chinese workers and entrepreneurs are bearing the rising costs of an anti-virus campaign that has shut down large sections of the economy. The government has imposed restrictions nationwide that have stalled travel and sales of real estate and autos. (AP Photo/Ng Han Guan)

Cost of China's anti-virus fight rises with workers idle

Feb. 15, 2020 9:28 PM EST

BEIJING (AP) — Real estate agent Du Xuekun’s sales usually jump after the Lunar New Year holiday. But this year, Du has been at home for a month with no income after vast swathes of China’s economy were shut down in a sweeping effort to contain a virus outbreak. Du, who lives in Jiaozhuo,...

Oliver Spasovski, center front, the new prime minister of the caretaker government, and the members of the Cabinet pose for the media after the parliament voted in favor on a session in Skopje, North Macedonia, Friday, Jan. 3, 2020. The prime minister of North Macedonia Zoran Zaev submitted his resignation Friday, paving the way for a new caretaker Cabinet to be named in order to organize a snap election. (AP Photo/Boris Grdanoski)

N Macedonia minister who stood by nation's old name removed

Feb. 15, 2020 5:36 PM EST

SKOPJE, North Macedonia (AP) — North Macedonia’s parliament voted to dismiss a government minister Saturday after she appeared at two news conferences in front of a large wall sign bearing the country’s old name, Republic of Macedonia, and refused to change it. Prime Minister Oliver...

Unemployment insurance available for power plant workers

Feb. 14, 2020 10:59 PM EST

PREWITT, N.M. (AP) — State labor officials say workers who are laid off as a result of a planned power plant closure in western New Mexico will be eligible for unemployment benefits. Tri-State Generation and Transmission Association announced earlier this year it would close the coal-fired Escalante...

In this Wednesday, Feb. 12, 2020, photo released by Maggie Zhang, Zhang uses a laptop computer at her parents' home in in the northwestern city of Zhangye in Gansu province. Zhang, founder of SheTalks, a company in Beijing that organizes events for women, is working out of her parents' apartment after she went back for the Lunar New Year and said she might stay through March. (Maggie Zhang via AP)

China's virus crackdown leaves millions working at home

Feb. 14, 2020 1:42 AM EST

BEIJING (AP) — In the middle of a phone call with a customer, an important visitor knocks on Michael Xiong's door: his 3-year-old son. Xiong, a salesman in Chibi, a city near the center of a virus outbreak, is one of millions of people in China who are obeying government orders to work from home as part...

President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington, Thursday, Feb. 13, 2020. (AP Photo/J. Scott Applewhite)

Trump Fed nominee Shelton faces skepticism at Senate hearing

Feb. 13, 2020 7:06 PM EST

WASHINGTON (AP) — One of President Donald Trump's nominees for the Federal Reserve came under sharp questioning Thursday from senators over her unorthodox economic views, including from two Republicans whose doubts about her nomination could imperil it. The nominee, Judy Shelton, sought to make her...

Alaska labor officials scrap training requirement changes

Feb. 13, 2020 10:10 AM EST

ANCHORAGE, Alaska (AP) — Alaska state Labor Department officials have cancelled a plan to overhaul training requirements for aspiring plumbers, electricians and linemen. The decision followed criticism from legislators and numerous construction trade groups, The Alaska Journal of Commerce reported ...

FILE - In this Sept. 17, 2019, file photo, a gas pump reflecting current prices is seen in Orlando, Fla. On Thursday, Feb. 13, 2020, the Labor Department releases Consumer Price Index for January. (AP Photo/John Raoux, File)

US consumer prices up 0.1% in January; gasoline prices fall

Feb. 13, 2020 8:37 AM EST

WASHINGTON (AP) — U.S. consumer prices rose modestly last month, weighed down by falling gasoline prices. The Labor Department said Thursday that its consumer price index blipped up 0.1% in January after rising 0.2% in December. Over the past year, consumer inflation is up 2.5%, biggest gain since October...