Goldman CEO David Solomon admitted that the bank is planning to cut jobs due to economic reasons—a decision that comes as other big banks are also considering similar options and the United States is seeing an increase in unemployment claims. In his year-end message to staff, Solomon said that the firm is working on a…

New weekly filings for unemployment insurance—a proxy for layoffs and a labor market barometer—fell more than expected last week, to a three-week low, with experts saying that the Federal Reserve will likely see this as a sign of labor market tightness and, therefore, will have no reason to pause in its aggressive monetary-tightening cycle. First-time filings for…

U.S. jobless claims rose more than expected last week, for the highest level of claims since late August, after Florida was hit by Hurricane Ian. The labor market has remained strong overall, and many firms are still hoarding workers even as the economy begins to slow, and many positions remain open. Initial unemployment claims inched…

More signs of weakness have surfaced in the U.S. labor market as a government report showed jobless claims rising above market expectations while data from outplacement firm Challenger, Gray & Christmas showed job cuts surging by a whopping 46 percent in September. The number of weekly unemployment filings came in at 219,000 last week, a Department…

Good news for workers: The latest government indicator for layoffs hit a five-month low, despite the Federal Reserve’s efforts to cool off the job market. The NATO military alliance weighs in on the gas leaks in Europe, warning it’ll take action if anyone attacks its members’ infrastructure. The Chinese yuan is weakening against the dollar—fast, prompting a…

Good news for workers: The latest government indicator for layoffs hit a five-month low, despite the Federal Reserve’s efforts to cool off the job market. The NATO military alliance weighs in on the gas leaks in Europe, warning it’ll take action if anyone attacks its members’ infrastructure. The Chinese yuan is weakening against the dollar—fast, prompting a…

The number of Americans filing new claims for unemployment benefits fell to a five-month low last week, but stock markets reacted in line with a “good news is bad news” paradigm and resumed their sharp selloff as the strong labor market data suggests the Federal Reserve is likely to stay the course on hiking rates…

The number of Americans filing jobless claims dropped again last week, as employers continue to seek new workers. This latest reading may serve as a further data point for the Federal Reserve to pursue its aggressive rate-hike policy, which will likely have a negative effect on hiring. Initial claims, which have declined since August after rising…

The amount of Americans filing for unemployment claims decreased, for the first time, last week, to a three-month low, according to the Labor Department on Sept. 8. The continued growth in the U.S. labor market is relief for some analysts after U.S. gross domestic product (GDP) contracted in the first half of 2022, after initial fears…

A hearing takes place in Palm Beach to unseal the affidavit associated with the raid of former President Donald Trump’s Mar-a-Lago estate. Will the judge release it, and how much will be redacted? The government is doubling down on efforts to vaccinate against monkeypox, as the CDC director is now calling for Congress to grant…