Good news for homebuyers: Mortgage rates are dropping below 5 percent for the first time since April. Walmart is laying off corporate employees after slashing its profit outlook just last week. One state is investigating ESG ratings for the first time ever. Missouri’s attorney general believes financial services firm Morningstar may have violated state law. The…
Missouri AG Investigates Morningstar Over ESG Ratings; Mortgage Rates Drop Below 5% | NTD Business
US Job Openings Plunge to Nine-Month Low as Labor Demand Eases
After hitting a peak in March, the number of job openings continues to fall, a potential indicator that the labor market could be slowing down. The number of job openings tumbled by 605,000, to 10.7 million, in June, falling short of the market estimate of 11 million. The rate of job openings dropped to 6.6…
Layoffs, Hiring Freezes Becoming More Common in US Labor Market
Despite a better-than-expected June jobs report, the red-hot labor market could still be showing signs of cooling down as many large and small companies trim their payrolls. A growing number of major businesses have announced intentions to lay off employees or install a hiring freeze amid broader economic concerns and recent trends. Last month, Tesla…
Jobless Claims Rise to 6-Month High, Job Cuts Jump 57 Percent
The number of Americans filing initial jobless claims rose to a six-month high last week, government data show, while a separate report showed that the number of job cuts jumped 57 percent month-over-month in June, suggesting demand for labor is cooling. Initial filings for state unemployment benefits increased 4,000 to a seasonally adjusted 235,000 for…
Substack CEO Lays Off 13 Employees Citing ‘Market Conditions,’ Says He’s ‘Very Sorry’
Substack CEO Chris Best apologized for laying off 13 employees on June 29 after previously stating the company would “not do layoffs,” calling it the “saddest day we’ve had” at the company. Best took to Twitter to issue a lengthy apology to workers, citing “market conditions” as the reason behind the layoffs, which he said are…
Netflix Lays Off About 150 Employees, Mostly in the US
May 19, 2022
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Netflix on Tuesday said it has laid off about 150 people, mostly in the United States, as the streaming service company faces slowing growth. The layoffs represent approximately 2 percent of the company’s workforce in the United States and Canada. “These changes are primarily driven by business needs rather than individual performance, which makes them…
Over 20,000 Applicants Compete for a Job in Tibet Amid China’s Unemployment Crisis
This year, workers in China have encountered waves of large-scale layoffs. In the latest Chinese civil service exams, a post office in Tibet shockingly received the most applications. Registration for China’s 2022 civil service recruitment ended at 6 p.m. on Oct. 24. According to its official website, the total number of applicants was 2,047,281, and…
Closing Pennsylvania Hospital Gives 293 Employees Layoff Notice
November 3, 2021
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Tower Health, a regional Pennsylvania health care system, issued a Worker Adjustment and Retraining Notification (WARN) notice this week in anticipation of closing one of its hospitals. It is one of many financial moves the system is making. “Early in the pandemic, the government mandated the shutdown of all nonessential health care services,” Richard Wells,…
US Jobless Claims up to 744,000 as Virus Still Forces Layoffs
WASHINGTON—The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers are still cutting jobs even as more people are vaccinated against COVID-19, consumers gain confidence and the government distributes aid throughout the economy. The Labor Department said Thursday that applications increased by 16,000 from 728,000 a week earlier….
US Jobless Claims Rise to 770,000 With Layoffs Still High
WASHINGTON—The number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the recession. Thursday’s report from the Labor Department showed that jobless claims climbed from 725,000 the week before. The numbers have dropped sharply since the depths…
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