Wholesale inflation jumps record 9.6% over past 12 months
Prices at the wholesale level surged by a record 9.6% in November from a year earlier, an indication of ongoing inflation pressures The Labor Department said that its producer price index, which measures inflation before it reaches consumer, rose 0.8% in November compared to October, the highest monthly reading since June.
Kentucky to allow college athletes to earn off likeness
Kentucky Governor-Jobs FILE - Kentucky Gov. (Ryan C. Hermens/Lexington Herald-Leader via AP, Pool) (Ryan C. Hermens)FRANKFORT, Ky. — (AP) — Kentucky Gov. Andy Beshear signed an executive order Thursday allowing the state's college athletes — including players on the nationally renowned Kentucky and Louisville men's basketball teams — to make money through the use of their name, image or likeness. The Democratic governor said he took the action as a matter of fairness for college athletes. College sports leaders are instead moving toward the type of patchwork regulation they have been warning against for months.wftv.com
National Hiring Day: Lowe’s to fill 50,000 jobs on May 4
Now hiring FILE PHOTO: Lowe's will be holding a National Hiring Day on May 4 to fill 50,000 jobs. (Jonathan Weiss/JetCity Image/Getty Images)Lowe’s home improvement stores have 50,000 jobs to fill, and the company is holding interviews to fill them on May 4. >> Read more trending newsThe company is looking to hire seasonal, part-time and full-time employees this spring as part of its National Hiring Day promotion. Lowe’s said that almost 200 current store managers were originally hired as seasonal workers. To apply for a job, visit your local Lowe’s store and stop by the registration table or customer service to sign in.wftv.com
Stocks climb again after stronger-than-expected jobs report — Here's what experts are watching
Stocks saw a major reversal on Friday. Here's what experts are watching in the market and what they have to say about the U.S. economic outlook. David Kelly, chief global strategist at JPMorgan Asset Management, lays out why this could be beneficial for value stocks. It just does threaten growth stocks, it threatens high P/E stocks, and I think that's what we're seeing in markets." I do think it matters how fast we get there, and I think we've had quite an aggressive move and do not expect that speed to continue."cnbc.com
The coronavirus pandemic will intensify competition for white-collar jobs, says Singapore minister
SINGAPORE — Competition for white-collar jobs will become more intense after the coronavirus pandemic showed that a lot of work can be done over the internet, Singapore's Minister for Trade and Industry Chan Chun Sing said on Thursday. "But increasingly, I think the world is realizing that competition is even tougher for the white-collar jobs that can be done over the internet," he said. "The jobs that can be done over the internet can be done anywhere in the world and because of this, white-collar jobs will no longer have the geographical insulation it used to have." That led Singapore's economy to shrink by a record 13.2% in the second quarter this year compared to a year ago. The jobs that can be done over the internet can be done anywhere in the world and because of this, white-collar jobs will no longer have the geographical insulation it used to have.cnbc.com
Many more likely sought US jobless aid even as layoffs slow
WASHINGTON The U.S. government is set to sketch its latest picture Thursday of the layoffs that have left tens of millions of people unemployed but have slowed as states increasingly allow businesses to reopen. Even with companies calling some laid-off employees back to work, millions more likely filed for unemployment benefits last week after nearly 39 million sought aid in the previous nine weeks as the coronavirus paralyzed the economy. The pace of layoffs has declined for seven straight weeks, a sign that the cratering of the job market may have bottomed out. The job cuts reflect an economy that was seized by the worst downturn since the Great Depression after the virus forced the widespread shutdown of businesses. The economy is thought to be shrinking in the April-June quarter at an annual rate approaching 40%.
US economy shrank at 5% annual rate in Q1
It was the biggest quarterly decline since an 8.4% fall in the fourth quarter of 2008 during the depths of the financial crisis. The downward revision to first quarter GDP reflected weaker investment by businesses in their inventories which was partially offset by slightly stronger consumer spending. Economists believe the lockdowns that shut wide swaths of the economy and triggered the layoffs of millions of workers will send the GDP sinking at an annual rate of 40% in the current quarter. That would be the biggest quarterly decline on records that go back to 1947. Many forecasters believe growth will rebound sharply in the July-September quarter with the Congressional Budget Office predicting GDP will rise at an annual rate of 21.5%.
Club Wyndham Bonnet Creek reopens to vacation club owners amid COVID-19 pandemic
ORLANDO, Fla. Club Wyndham Bonnet Creek is the first major resort to reopen near Disney Springs after the coronavirus pandemic shuttered thousands of businesses, and guests will immediately notice changes. "Via tablet we can check someone in as they drive up to the lobby and get them on their vacation without going into the lobby," said Maciulewicz. The resort said its concierges will monitor the lobby and pool to make sure new policies are being followed. Club Wyndham Bonnet Creek said the six-week closure due to the virus has affected their bottom line, but didnt say exactly by how much. "We're going to be cautious, we're going to do it right, and people will have a great vacation," said Maciulewicz.
President Trumps pitch to voters: Trust me, economy will soar in 2021
(AP Photo/Evan Vucci, File)WASHINGTON President Donald Trump has a new pitch to voters for this fall: Trust me. Its a transition to greatness, Trump says over and over, predicting a burgeoning economy come the fall. Now, Trump is making the case to voters that if he helped bolster the economy once, he can do it again. "Ill do it a second time.It's not just next year that will be a mystery to voters on Election Day. "The president is placing a bet by reopening the economy before public health officials believe it is safe.
2.4 million more people seek US unemployment benefits amid coronavirus pandemic
Yet with millions more Americans seeking unemployment aid last week, the U.S. job market remains as bleak as it's been in decades. During April, U.S. employers shed 20 million jobs, eliminating a decades worth of job growth in a single month. Jimmy Page, a small business owner in San Diego, is a bit more optimistic now than he was two months ago. The depth of the layoffs vary sharply from state to state. Second-highest is in Nevada, where one-quarter of the state's workers have been approved, followed by Oregon and Florida.
S&P 500 and Nasdaq eke out fresh record closing highs
The S&P 500 and Nasdaq Composite rose marginally on Tuesday eking out fresh record closing highs as investors digested testimony from the top U.S. central banking official and assessed the potential economic impact of the coronavirus. During the Q&A portion of his testimony, Powell noted it is "too early to say" how the coronavirus will ultimately impact the U.S. economy. "The coronavirus clearly presents a risk to the global economy," said Danielle DiMartino Booth, CEO of Quill Intelligence. Investors have been grappling with fears that of the coronavirus denting global economic growth. Both the S&P 500 and Nasdaq Composite closed at fresh highs on Monday, while the Dow jumped more than 170 points.cnbc.com
Stock market live updates: Dow down 300, coronavirus names fall, Uber best day ever
Franck2:08 pm: Dow drops 300 points to session lowThe Dow slid 300 points in afternoon trading to its session low, as sharp declines in Dow Inc and Caterpillar put pressure on the 30-stock index. Shares of Uber jumped more than 9% on Friday, putting the stock on pace for its best day ever. The jobs report is essentially out of the markets' mind now. Melloy8:33 am: US added 225,000 jobs in January, versus 158,000 expectedStock futures pared losses after the blowout January jobs report. Li8:07 am: Jobs report approachesThe Labor Department's report on nonfarm payrolls for January will set the tone for Friday.cnbc.com
These are the jobs with the fastest-growing wagesand online shopping is giving them a boost
Jobs tied to the holiday shopping season are seeing some of the fastest-growing wages in the country, according to Glassdoor's latest job market report. Warehouse associates saw a 6.3% boost in pay year over year in September, and those workers earned a median of $42,864. The career site analyzed wages for workers in September 2019 compared to September 2018 for the report. Retail key holders are generally in charge of opening and closing the store, as well as overseeing operations when a manager isn't present. The increased pay for these jobs reflects not only seasonal consumer trends, but also the changing nature of retail as a whole.cnbc.com
Steve Jobs: 'Technology is nothing'here's what he said it really takes to achieve great success
It's been eight years since Steve Jobs passed away on Oct. 5, 2011, but his lessons about life, work and success still live on today. He taught them to focusAfter his return to Apple, Jobs would take his top employees on annual retreats. "Deciding what not to do is as important as deciding what to do," Jobs told Isaacson. According to Isaacson, Jobs believed in the power of in-person conversations and always preferred face-to-face meetings. "There's a temptation in our networked age to think that ideas can be developed by email and iChat," he told Isaacson.cnbc.com
Bill Gates says Steve Jobs was a master at 'casting spells' to keep Apple from dying
Steve Jobs was a master at "casting spells" to keep Apple employees motivated and working long hours, said Bill Gates, the billionaire co-founder of technology giant Microsoft. "I was like a minor wizard because he would be casting spells, and I would see people mesmerized, but because I'm a minor wizard, the spells don't work on me," said Gates, the world's second-richest person. Despite that, Jobs, the former Apple CEO who died of pancreatic cancer in 2011, was an example of "don't do this at home" in his style of leadership, Gates said. Jobs was a singular case, Gates said, where Apple was on a path to die and goes on to become the most valuable company in the world. Since Jobs' passing, leadership of the company has gone to current CEO Tim Cook.cnbc.com
February sees 295,000 jobs added as unemployment rate falls
February sees 295,000 jobs added as unemployment rate falls The latest job report shows the unemployment rate fell to 5.5 percent nationwide. CBS News' contributor and analyst Mellody Hobson joins "CBS This Morning: Saturday" to tell us more about what this means for the economy.cbsnews.com
MoneyWatch: Jobs report due Friday; Google to sell car insurance
MoneyWatch: Jobs report due Friday; Google to sell car insurance The November jobs report will be released Friday, and analysts expect another strong month. Also, Google is reportedly working on a comparison shopping site for car insurance. Jill Wagner reports on the day's top MoneyWatch headlines.cbsnews.com
Jobs return, but long-term unemployed still left behind
Jobs return, but long-term unemployed still left behind While hiring has rebounded, it's still a challenge for people who have been out of work a year or more to get jobs, says Geoffrey Hoffmann, chief executive at search firm DHR International.cbsnews.com
New Google initiative looks to close the tech world's gender gap
New Google initiative looks to close the tech world's gender gap Jobs in computer science are multiplying fast, with the Labor Department predicting more than 4-million positions by the year 2020. But so far, it's mostly a man's world. Google is launching a new campaign to help close the gender gap. CBS News' Alexis Christoforous reports.cbsnews.com