Latest Labor economy News

S. Korea sees easing disruption as truckers' strike extends

Dec. 07, 2022 06:08 AM EST

SEOUL, South Korea (AP) — Officials say South Korea’s economy is recovering from the initial shock of a nationwide walkout staged by thousands of cargo truckers, even as their strike reached its 14th day on Wednesday amid a stalemate with the government over freight fare issues. ...

Biden visits Arizona computer chip site, highlights jobs

Dec. 06, 2022 18:39 PM EST

PHOENIX (AP) — President Joe Biden on Tuesday visited the site for a new computer chip plant in Arizona, using it as a chance to emphasize how his policies are fostering job growth in what could be a challenge to the incoming Republican House majority. Biden has staked his legacy...

BuzzFeed cuts 12% of staff citing worsening econ conditions

Dec. 06, 2022 14:34 PM EST

NEW YORK (AP) — Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions. The New York company, which made the announcement in a regulatory filing on Tuesday, did not disclose how many workers it was letting go. According to the data...

Editorial Roundup: Michigan

Dec. 05, 2022 07:14 AM EST

Detroit News. December 3, 2022. Editorial: Repeal right-to-work at our own risk Democrats want to force workers to pay union dues against their will once again as they make repealing Michigan’s right-to-work law one of their first legislative targets when they take...

Rail workers say deal won't resolve quality-of-life concerns

Dec. 03, 2022 03:06 AM EST

OMAHA, Neb. (AP) — When BNSF railroad conductor Justin Schaaf needed to take time off from work this summer, he had to make a choice: go to the dentist to get a cavity in his molar filled or attend a party for his son's 7th birthday. He chose his son. "Ultimately I...

Wall Street ends mixed following strong data on wages, jobs

Dec. 02, 2022 17:28 PM EST

Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 ended 0.1% lower after having been...

EXPLAINER: 5 key takeaways from the November jobs report

Dec. 02, 2022 14:16 PM EST

WASHINGTON (AP) — For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control. And for just as long, the job market hasn’t seemed to get the message. The November employment...

Biden sees economy avoiding recession, but risks remain

Dec. 02, 2022 14:04 PM EST

WASHINGTON (AP) — President Joe Biden assured Americans on Friday that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. At the White House, the president signed an emergency...

US hiring stays strong, complicating Fed's inflation fight

Dec. 02, 2022 13:04 PM EST

WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate...

Congress votes to avert rail strike amid dire warnings

Dec. 01, 2022 19:48 PM EST

WASHINGTON (AP) — Legislation to avert what could have been an economically ruinous freight rail strike won final approval in Congress on Thursday as lawmakers responded quickly to President Joe Biden’s call for federal intervention in a long-running labor dispute. The Senate...