COVID-19 pandemic recession ended in April 2020, shortest on record
The recession that broke out with the onset of the coronavirus pandemic lasted just two months, officially ended in April 2020. That makes it the shortest downturn on record, according to the committee of economists that determines when recessions begin and end.
American unemployment claims fall to 360,000, another pandemic low
The United States set another pandemic low in this week's jobs report, showing only 360,000 first-time filers for unemployment.
McDonald’s to bolster free child care, paid tuition to entice workers
McDonald’s plans to invest millions more into new and already-existing programs to allow its franchisees to entice new employees and retain current workers.
Gas prices soar as Americans hit the road while supply remains low
The highest average for a gallon of regular gasoline is in the San Francisco Bay area at $4.39 while parts of Louisiana have the lowest prices at around $2.65.
Consumer prices saw largest inflation spike in June since 2008
Consumer prices in June rose 0.9% from May and 5.4% over the past year — the sharpest 12-month inflation spike since June 2008.
June jobs report: US adds 850,000 jobs as economy extends its gains
U.S. employers added 850,000 jobs in June 2021, well above the average of the previous three months, the Labor Department said.
Biden in Wisconsin: Infrastructure deal on the docket in La Crosse
President Joe Biden will look to sell voters on the economic benefits of the $973 billion infrastructure package while in Wisconsin on Tuesday.
Home prices surge by most on record
Home prices rose 14.6% year over year nationally in April, according to the national Case-Shiller index, making for the highest reading in more than 30 years of recordkeeping.
Average gas price rises to $3.15 a gallon; San Francisco has highest price in nation
Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area at $4.33 per gallon. The lowest average is in Baton Rouge, Louisiana, at $2.63 per gallon.
Bipartisan group of senators, White House reach deal on infrastructure plan
President Joe Biden and a bipartisan group of senators have “struck a deal” on a $953 billion infrastructure plan.
New Jersey invests $200K to make Atlantic City a national esports hub
The New Jersey Economic Development Authority and Stockton University are teaming up to establish an esports Innovation Center at the university's Atlantic City campus.
Federal Reserve expects to raise interest rates by late 2023
The Fed's policymakers forecast that they would raise their benchmark short-term rate, which influences many consumer and business loans, twice by late 2023.
2020 teen summer employment was lowest since Great Recession
The number of teens who were able to get jobs during the summer of 2020 saw its lowest level since the Great Recession in 2008.
Kroger hosting hiring event Thursday, seeking 10K new workers
Kroger, which is already the largest grocery retailer in the United States, is hoping to hire 10,000 more workers with its hybrid hiring event taking place Thursday, June 10.
Chipotle raising prices to offset its $15 minimum wage hike
Chipotle announced it would be raising menu prices by as much as 4% to offset the cost of the employee pay raises announced last month.
US economy shows growth despite lacking enough workers, supplies
Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift that many companies can’t fill jobs or acquire enough supplies to meet a pent-up burst of customer demand.
Biden 'extremely optimistic' about May jobs report, economists less so
President Joe Biden said the latest jobs report leaves room for optimism. However, economists were disappointed with the latest numbers.
Restaurant labor shortage may force higher wages for workers
Critics claim unemployment benefits are keeping people out of the restaurant workforce. But workers and labor organizers say that the reality is more complex, and that food service workers haven't been paid a living wage.
Sales of new US homes fell 5.9% in April in wake of soaring house prices in March
Sales of new homes fell a bigger-than-expected 5.9% in April, a drop that analysts blamed in part on soaring home prices.
US achieves another pandemic low with 444,000 new unemployment claims
The number of Americans seeking unemployment aid fell last week to 444,000, a new pandemic low and a sign that the job market keeps strengthening as consumers spend freely again, viral infections drop and business restrictions ease.