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The Latest Breaking News from Labor Department

Inflation is cooling thanks to gas prices, but many things still cost a lot more

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

WEKU

Bombshell Jobs Report: All Pandemic Jobs Lost Restored, Flipping Recession Script And Fueling Inflation, Fed Fears

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 0.8% Friday morning after the Labor Department reported encouraging U.S. jobs market numbers from July.

Benzinga

The job market got even better, in a surprisingly positive sign for the economy

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

WEKU

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As recession fears grow, strong US hiring is likely slowing

The American job market has defied raging inflation, rising interest rates, growing recession fears

The Independent UK

US jobless claims climb again, near highest since November

Unemployment claims have been on the rise the last few months, perhaps signaling a slowing labour market.

Al Jazeera

Applications for US jobless claims up again last week

More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy

The Independent UK

Asian stocks higher as US-China tensions rise

Asian stock markets are mostly higher as traders watch for signs trade might be disrupted by U.S.-Chinese tensions over an American lawmaker’s visit to Taiwan

The Independent UK

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Economy and Society, August 2, 2022: Governor DeSantis bans ESG criteria in state pension fund management

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

U.S. job openings slid to 10.7 million in June

American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates

The Independent UK

Why a Sacramento-area restaurant owner brought in a priest to talk to his workers

Last November, a few weeks after the U.S. Department of Labor had notified owners of Taqueria Garibaldi restaurants in the Sacramento area that it had evidence of overtime and record-keeping violations, one of the chain’s owners showed up at the Howe Avenue eatery with a priest, the government says.

Tribune News Service

Millions of Americans have long COVID. Many of them are no longer working

An estimated 4 million workers in the U.S. are struggling to work due to debilitating symptoms from long COVID. The government is urging employers to provide accommodations to keep them on the job.

WEKU

Fewer Americans applied for jobless benefits last week

Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first time in more than eight months

The Independent UK

Americans filing jobless claims at highest level in 8 months

The number of Americans applying for unemployment benefits last week rose to its highest level in more than eight months, a sign the labor market may be showing some weakness

The Independent UK

The Senate is nearing a deal on immigration that could also lower food prices

Two Senators are closer then ever before on an immigration-related bill that would provide a much-needed workforce for agriculture. But can they get the Farm Bureau on board the final sticking point?

WEKU

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The Independent UK

Wholesale inflation in June surged 11.3% from a year ago

Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy

The Independent UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

Tribune News Service

Rents in US rise at fastest pace since 1986, buoying inflation

Rents rose in the U.S. last month at the fastest pace since 1986, helping to propel overall inflation to a fresh four-decade high.

The Independent UK

More Americans apply for jobless aid for 5th straight week

More Americans applied for unemployment benefits last week, and while layoffs remain low, it’s the fifth straight week claims have topped the 230,000 mark

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The Independent UK

Slightly fewer Americans apply for jobless claims last week

Slightly fewer Americans applied for unemployment benefits last week, reflecting a still robust job market despite increasing layoffs in some sectors of the economy that have cooled in recent months

The Independent UK

US consumers less confident as anxiety over future grows

U.S. consumers were less confident again in June as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade

Tribune News Service

Labor Department warning opens divide on crypto in 401(k) plans

WASHINGTON — Lawmakers and investor advocates are ringing alarms over the idea of allowing cryptocurrency into 401(k) and other retirement plans, especially after a turbulent month that saw some projects implode and other cryptocurrencies go into free fall.

Roll Call

Labor Department warning opens divide on crypto in 401(k) plans - Roll Call

The Labor Department's warning about cryptocurrencies in 401(k) plans has opened a debate about whether investors can opt for such risks.

The Independent UK

Fewer Americans file for jobless aid

Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite myriad economic pressures, including four-decade high inflation

Benzinga

Here's How The SPDR S&P 500 Looks As Fed Loses Fight Against Inflation

The SPDR S&P 500 (NYSE: SPY) gapped down 1.63% on Friday after new Consumer Price Index (CPI) data released by the Labor Department showed the Federal R

Benzinga

'Stunningly High': Experts React To 8.6% CPI Inflation, Highest In 40 Years

The SPDR S&P 500 ETF Trust SPY (NYSE: SPY) traded lower by 2% on Friday morning after the Labor Department reported an 8.6% increase in the consumer price index in the month, the highest inflation reading in any month since 1981.

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