Latest Labor economy News

Fed leaves low rates alone and sees no moves in near future

Dec. 11, 2019 6:24 PM EST

WASHINGTON (AP) — Chairman Jerome Powell made clear Wednesday that the Federal Reserve is prepared to keep its benchmark interest rate very low through at least next year — and possibly longer. Fueling that expectation is the growing belief of Fed officials that inflation will remain tame even as...

Washington state OKs some of the nation's toughest OT rules

Dec. 11, 2019 6:09 PM EST

SEATTLE (AP) — Washington state is adopting some of the nation's most aggressive overtime rules, restoring protections for hundreds of thousands of salaried workers and taking what supporters say is a crucial step toward rebuilding the middle class. The Department of Labor and Industries finalized the...

US stocks notch modest gains as Fed leaves rates unchanged

Dec. 11, 2019 4:58 PM EST

Wall Street capped a wobbly day Wednesday with modest gains for stocks, snapping a two-day losing streak for the S&P 500. The market shook off a mixed start after the Federal Reserve announced it is would be leaving interest rates unchanged this month and signaled that it expects to leave them alone in 2020....

Maine governor releases 10-year economic plan

Dec. 11, 2019 4:49 PM EST

SEARSMONT, Maine (AP) — Maine Gov. Janet Mills is touting an economic plan she released Wednesday that seeks to boost wages and increase the number of skilled workers at a time when thousands of workers are expected to retire from the workforce. Mills unveiled a 10-year economic plan that aims to raise...

Democrats agree to North America trade pact: What's in it?

Dec. 11, 2019 12:22 PM EST

WASHINGTON (AP) — After months of political wrangling, House Democrats agreed Tuesday to President Donald Trump’s revamped version of a 25-year-old North American free trade agreement. But they pried some concessions out of the Trump administration before saying they’d go along....

US Federal Reserve could signal no rate hike through 2020

Dec. 11, 2019 6:20 AM EST

WASHINGTON (AP) — The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market. Many economists have said they think sluggish growth will even compel the Fed to cut rates at...

Democrats, White House forge new North American trade deal

Dec. 10, 2019 6:08 PM EST

WASHINGTON (AP) — House Democrats and the White House announced a deal Tuesday on a modified North American trade pact, handing President Donald Trump a major Capitol Hill win on the same day that impeachment charges were announced against him. Both sides hailed the deal as a win for American workers. They...

US productivity edges down 0.2% in third quarter

Dec. 10, 2019 8:51 AM EST

WASHINGTON (AP) — U.S. productivity fell in the summer, the first decline in nearly four years, underscoring the struggles companies are facing in boosting worker efficiency. The Labor Department said Tuesday that productivity edged down at a seasonally adjusted annual rate of 0.2% in the July-September...

Fed is likely to reinforce a message of continued low rates

Dec. 9, 2019 2:42 PM EST

WASHINGTON (AP) — The Federal Reserve is expected to send a clear message when its latest policy meeting ends Wednesday: Interest rates will likely stay ultra-low for the foreseeable future. Behind that message is a view that has gained support at the Fed as the U.S. economic expansion has entered a record...

Small business hiring slow, likely to remain so, reports say

Dec. 9, 2019 10:34 AM EST

NEW YORK (AP) — Two reports last week show that small business hiring still lags behind the strong job growth reported at larger companies, and that owners are unlikely to increase their staffs significantly in 2020. Payroll processor ADP said its customers with up to 49 employees added 11,000 jobs in...