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Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens
Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Inflation rose faster in August while jobless claims spiked to their highest level since 2021, signaling a weakening job market as President Donald Trump's tariffs shake the economy. Consumer prices rose 0.4% in August and reached a yearly rate of 2.9%, according to Bureau of Labor Statistics data released on Thursday, Sept. 11. That's the biggest monthly jump since January, when yearly inflation was 3.0%. Core inflation, which excludes volatile food and energy prices, climbed 0.3% in August and 3.1% over 12 months. Shelter, which makes up about one-third of the Consumer Pric…

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by Chris Spiker
Business
Major Household Product Maker Cutting 7,000 Jobs As Trump Tariffs Roil Economy Major Household Product Maker Cutting 7,000 Jobs As Trump Tariffs Roil Economy
Major Household Product Maker Cutting 7,000 Jobs As Trump Tariffs Roil Economy Procter & Gamble, which operates eight plants across the Northeast, plans to cut up to 7,000 jobs over the next two years as President Donald Trump's trade policies shake businesses and consumer confidence, according to reports. Andre Schulten, P&G's chief financial officer, announced the layoffs during the Deutsche Bank Consumer Conference in Paris on Thursday, June 5. The cuts amount to about 6% of the company's global workforce and roughly 15% of its non-manufacturing positions, the Associated Press reported. P&G had about 108,000 employees worldwide as of June…

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by Chris Spiker
Business
New Jobless Claims Climb To Eight-Month High Amid Trump Tariff Fallout New Jobless Claims Climb To Eight-Month High Amid Trump Tariff Fallout
New Jobless Claims Climb To Eight-Month High Amid Trump Tariff Fallout Unemployment claims rose to their highest level in eight months, with more workers across the Northeast filing for benefits as President Donald Trump's tariffs fuel economic uncertainty. The number of new application filings for unemployment benefits jumped to 247,000 in the week ending Saturday, May 31, according to Labor Department data released on Thursday, June 5. That's the largest number of new claims since early October 2024 and above the 237,000 forecasted by analysts, the Associated Press reported. Initial claims increased by 8,000 from the week ending Saturday, May 24. The fo…

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by Chris Spiker
Business
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Rise In Food Prices Goes Beyond Eggs: Here’s Rundown
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Eggs are not the only food product seeing a sharp increase in prices. December grocery prices were nearly 28 percent higher than five years ago, reflecting how much harder families are finding it to manage their everyday expenses, The Wall Street Journal reports.  According to Labor Department data, grocery prices surged 1.8 percent year-over-year in December, marking the fastest increase in over a year, The trend started just after the COVID-19 pandemic began in 2019, mainly due to pandemic-related supply chain issues. According to a Trace One analysis of US Bureau of Labo…

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by Joe Lombardi
News
Ex-Aide To 2 NY Governors Raked In Millions As Agent Of Chinese Government: Feds Ex-Aide To 2 NY Governors Raked In Millions As Agent Of Chinese Government: Feds
Ex-Aide To 2 NY Governors Raked In Millions As Agent Of Chinese Government: Feds This story has been updated. A former aide to New York Gov. Kathy Hochul and former Gov. Andrew Cuomo is accused of acting as an agent for the Chinese government. Long Island residents Linda Sun, age 41, and her husband Chris Hu, age 40, were arrested at their Manhasset home on Tuesday morning, Sept. 3, on charges of violating the Foreign Agents Registration Act, money laundering, and related charges. According to federal prosecutors, Sun – who served as Hochul’s deputy chief of staff before being fired in 2023 – engaged in numerous political activities at the behest of Chinese government …

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by Michael Mashburn