WASHINGTON—U.S. employers added a modest 559,000 jobs in May, an improvement from April’s sluggish gain but still evidence that many companies are struggling to find enough workers as the economy recovers from the pandemic recession. Last month’s job growth was above April’s revised total of 278,000, the Labor Department said Friday, yet well short of…
State Department Approves Potential $3.5 Billion Helicopter Sale to Australia: Pentagon
June 3, 2021
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AustraliaAustralia- PentagonBoeingBusinessEconomieseconomyHelicopter SaleInternationalPoliticsU.S. State DepartmentUSUS NewsWorld
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WASHINGTON—The U.S. State Department has approved the potential sale of 29 Boeing Co AH-64E Apache attack helicopters to Australia in a deal valued at up to $3.5 billion, the Pentagon said on Thursday. The sale is one of a string of Australian purchases in April that included 12 MQ-9B drones and related equipment for about…
GM Raises Forecast, Says Chip Shortage Not as Bad as Feared
DETROIT—General Motors Co. says efforts to manage the global computer chip shortage have worked better than expected, so its financial results will improve over previous forecasts. The company said in a statement Thursday it has made engineering changes, prioritized semiconductor use, and pulled some potential deliveries into the second quarter. So now the first-half earnings…
US 1st-Quarter Worker Productivity Unrevised at 5.4
WASHINGTON—U.S. worker productivity rebounded solidly in the first quarter, the government confirmed on Thursday, also noting that labor costs grew instead of contracting as previously reported. Nonfarm productivity, which measures hourly output per worker, increased at an unrevised 5.4 percent annualized rate last quarter, the Labor Department said. Productivity fell at a 3.8 percent rate…
US 1St-Quarter Worker Productivity Unrevised at 5.4 Percent
WASHINGTON—U.S. worker productivity rebounded solidly in the first quarter, the government confirmed on Thursday, also noting that labor costs grew instead of contracting as previously reported. Nonfarm productivity, which measures hourly output per worker, increased at an unrevised 5.4 percent annualized rate last quarter, the Labor Department said. Productivity fell at a 3.8 percent rate…
US Jobless Claims Drop to 385,000, Another Pandemic Low
WASHINGTON—The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens. The Labor Department said Thursday that jobless claims dropped to 385,000, down 20,000 from the week before. The…
Florida’s Jobless Must Now Prove They’re Looking for Work to Collect Unemployment Benefits
Florida this week tightened eligibility requirements for people to collect unemployment benefits, part of a bid to encourage people to take jobs in the face of businesses’ hiring woes. Starting June 1, unemployment benefit claimants—with a few exceptions—are required to submit work searches for every week of state or federal benefits requested, the Florida Department…
Australian PM’s China Stance Is Politically Motivated: Opposition Leader
June 3, 2021
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anthony albaneseAsia & PacificAustraliaaustralia-chinaBusinessChinaEconomiesInternationalInternational RelationsPrime Minister Scott MorrisonWorld
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Australian Opposition Leader Anthony Albanese has taken aim at the prime minister’s handling of Australia’s relations with China, claiming it is politically motivated and has put the country’s resources industry at risk. Albanese delivered the remarks at the launch of Minerals Week—hosted by the Mineral Council of Australia—while outlining the Australian Labor Party’s (ALP) vision…
US Manufacturing Sector Picks up in May, Work Backlogs Rising: ISM
WASHINGTON—U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor. The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity increased to a reading of 61.2 last month from 60.7 in…
World Stocks Hit Another Record, Oil up in Big Data Week
LONDON—Global stocks hit a record high again on Tuesday and oil rose, as markets shrugged off concerns about rising inflation and looked ahead to U.S. data later in the week that should offer a major clue to the health of the world’s biggest economy. Risk markets have eked out gains in recent weeks as traders…
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