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February Job Growth Disappoints, Fueling Economic Fears From Rising Costs, Tariff Confusion
The US labor market fell short of expectations in February, adding to growing economic uncertainty from trade disputes, a hiring slowdown, and ongoing federal job cuts.
The nation's economy added 151,000 jobs in February, according to data from the Bureau of Labor Statistics released on Friday, Mar. 7. That number was lower than the Dow Jones consensus forecast of 170,000, CNBC reported.
Job growth lagged behind the 12-month average of 168,000, signaling a labor market slowdown. Healthcare led with 52,000 new positions, followed by financial activities (+21,000), transpo…
Jobless Claims Hit Four-Month High, Adding To Inflation And Recession Fears
Unemployment claims have surged to their highest level since October 2024, adding to growing concerns over job security and the broader economy.
Initial jobless claims jumped by 22,000 to 242,000 for the week ending on Saturday, Feb. 22, the Bureau of Labor Statistics said in data released on Thursday, Feb. 27. The previous week's total was revised up slightly to 220,000.
The rise in claims comes as consumer confidence took its steepest monthly dive since August 2021 amid concerns over inflation, tariffs, and the labor market. The Conference Board's Consumer Confidence Index fell …
Party City Going Out Of Business, Closing All 800 Stores
The party is over for a popular chain store that's been in business for decades.
Party City is “winding down” operations immediately at its approximately 800 locations, CEO Barry Litwin told corporate employees in a video call on Friday, Dec. 20, CNN reports.
Workers were told they will not receive severance pay, and that their benefits would end as the company goes out of business, CNN says.
The company, headquartered in in Woodcliff Lake, New Jersey, is running low on cash and unable to pay rent in some locations, according to an earlier Bloomberg report.
Party City was foun…
Covid-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says
Half the country has taken a financial hit due to the novel coronavirus (COVID-19) pandemic, and most don’t believe they’ll be heading back to work soon, according to a newly released Marist College poll.
According to the poll, 50 percent of Americans said they or someone in their household has lost their jobs or hours due to the virus, up from 18 percent from a previous poll just a month ago.
"There are few households in the country that haven't been affected by this crisis, through health, through school, through jobs, from all walks of life, from all backgrounds," Barbara Carvalho, direc…
Covid-19: These Businesses Are Hiring Workers
Although the novel coronavirus outbreak (COVID-19) has forced employees at non-essential businesses to work from home, while thousands of others have been laid off, some companies are padding their workforce and hiring new employees.
Nationwide, many bars, restaurants, and non-essential businesses voluntarily or were ordered to shutter their doors amid fears of the spread of COVID-19, though the grocery store business continues to boom as area residents stock up on items.
According to multiple reports, ShopRite, Price Chopper, Tops, and Stop & Shop are all in the market for thousands of…
