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The Latest Breaking News from Labor Department

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.

Tribune News Service

Dow Jones Dives On Hot Inflation Report

The Dow Jones Industrial Average dived as much as 394 points Wednesday on a hot inflation report — the consumer price index.

Investors Business Daily

Stock Market Rally Rises To Key Level; Jobs Report Strong: Weekly Review

The stock market rally rebounded this week, with the Nasdaq peeking above its 10-week moving average despite a strong jobs report.

Investors Business Daily

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US sees big job gains in June, fueling inflation worries

Washington (AFP) - The US economy added far more jobs than expected in June and wages rose, adding fuel to worries about accelerating inflation, but giving President Joe Biden a reason to cheer.

AFP

June Jobs Report Show 372,000 New Hires, Defying Recession Fears: Rate Hike Bets Accelerate

The U.S. economy added much more-than-expected new jobs in June, the Labor Department said Friday, cementing the case for Fed rate hikes and challenging threats of a near-term recession.

The Street

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

The Independent UK

How Risky Is It To Quit Your Job Now?

There are still plenty of jobs available, but how risky is it to quit your job now amid recession fears and mounting layoffs?

Investors Business Daily

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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

The Independent UK

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.

Tribune News Service

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.

Roll Call

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

The Independent UK

Dow Jones Rises After Key Inflation Report; Fed Meeting Set To Kick Off

The Dow Jones Industrial Average rose Tuesday after another key inflation report. The Fed's two-day meeting will also kick off.

Investors Business Daily

US inflation skyrockets, piling pressure on Biden

Washington (AFP) - US inflation surged to a new four-decade high in May, defying hopes that price pressures had peaked and deepening President Joe Biden's political troubles as Americans struggle to meet the cost of essentials like food and gas.

AFP

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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.

AFP

US inflation skyrockets, prolonging pain for consumers

Washington (AFP) - US inflation resurged in May, defying hopes price pressures would slow, and posting the largest increase since December 1981 as Americans continue to shell out ever more for food and gas, according to data released Friday.

Roll Call

Labor Department urged to forgo retirement plans’ climate disclosures

The Labor Department is facing pressure to finish a proposed rule before requiring pension plans to disclose climate risk.

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Benzinga

US Adds 390,000 Jobs In May: 'Little Solace In These Numbers'

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 1% Friday morning after the Labor Department reported strong U.S. jobs market numbers from May.

AFP

US continues to add jobs as wage gains slow

Washington (AFP) - US job gains continued in May but at a slower pace, and rapid wage increases cooled as well, a welcome sign for US policymakers trying to ease red-hot inflation.

The Street

May Employment Report Shows Solid 390,000 New Jobs, Easing Wage Pressures

The U.S. economy added modestly more-than-expected new jobs in May, with easing monthly wage pressures, the Labor Department said Friday.

Tribune News Service

US companies add fewest jobs of pandemic recovery, ADP data show

U.S. companies in May added the fewest jobs since the pandemic recovery began, a private report showed, suggesting employers struggled to recruit and retain workers in the month despite a near-record level of job openings.

WEKU

A human-trafficking case exposed farmworker abuses. The government is promising change

In response to a letter from Sen. Jon Ossoff, Homeland Security said it plans to begin the process to create new rules to increase protections for farmworkers.

Investors Business Daily

The Federal Reserve's 'Most Anticipated' Recession In History May Be Coming

Fed chief Jerome Powell is warning that the U.S. economy may face a period of "pain" as unemployment rise to control inflation. Is a recession inevitable?

Benzinga

Verizon Bumps Up Wireless Prices Citing Inflation Woes After AT&T

For the first time in two years, Verizon Communications Inc (NYSE:VZ) will raise prices on its wireless bills, helping it shift the burden of higher costs, Bloomberg reports. Industry watchdogs had warned that post-T-Mobile US, Inc's (NASDAQ: TMUS) acquisition of Sprint Corp, there would be fewer wireless competitors, making it easier to raise prices. Implementing higher charges…

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