Thomas Barwick | Digitalvision | Getty Images 1. Unemployment is at historic lows The unemployment rate fell to 3.4% in January — the lowest since May 1969. Put another way: The last time the jobless rate was this low, Neil Armstrong hadn’t yet walked on the moon, Bunker said. In fact, you’d have to go … Read more
View More The current job market is a ‘juggernaut,’ economist says. Here are 6 things to know as a job seeker
An employee works at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters A decrease in the unemployment rate of Black women is heartening, but labor experts warn that the trend shouldn’t create any false notions about equity in the workforce. The unemployment rate for the entire Black population … Read more
View More Black women are gaining ground in the labor market but still face unique barriers
Littlebee80 | Istock | Getty Images It’s been nearly three years since most people with federal student loans have had to make a payment on their education debt. The U.S. Department of Education has repeatedly cited specific dates for when the bills would resume, only to extend the pandemic-era break yet again. Most recently, amid … Read more
View More Biden’s student loan forgiveness heads to the Supreme Court. How that affects the payment pause
The U.S. economy added far more jobs than expected in January, boosted by a jump in leisure and hospitality employment. That one service sector saw an increase of 128,000 jobs in the month, led by 99,000 positions at restaurants and bars alone, the Bureau of Labor Statistics said in a report released Friday. Employment at hotels continued to … Read more
View More Here’s where the jobs are for January 2023 — in one chart
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their strongest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000. related investing news The unemployment rate fell to 3.4% versus the estimate for 3.6%. That … Read more
View More Payrolls increased by 517,000 in January, crushing estimates, as unemployment rate hit 53-year low
Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom line, Farley knows his company needs to change. “We have to change our cost profile,” Farley told CNBC after a call with analysts to discuss the … Read more
View More Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
Hong Kong’s new global promotional campaign will “kickstart” the city’s reopening to international travelers, the Hong Kong Tourism Board told CNBC’s “Squawk Box Asia” on Friday. As part of the “Hello Hong Kong” campaign, which was launched on Thursday, 500,000 air tickets will be given away over the next six months, starting in March. The … Read more
View More Hong Kong will give away half a million plane tickets. Here’s who can get them first
Rafael Henrique | Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in after-hour trading. Meta — The Facebook parent jumped 17% after the company announced a $40 billion stock buyback when reporting quarterly results. Meta beat analysts’ estimates for fourth-quarter revenue, according to Refinitiv. Meta also said it lost $13.7 … Read more
View More Stocks making the biggest moves after hours: Meta, Align Technology, e.l.f. Beauty and more
Powell’s focus is the labor market, says Gary Cohn Federal Reserve Chair Jerome Powell made it clear during his press conference that the data the Fed is closely watching more than anything else is jobs data, said former Goldman Sachs chief operating officer Gary Cohn. “He did go back and forth giving you both sides … Read more
View More Live updates of the Federal Reserve’s big rate decision and Powell’s press conference
The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures … Read more
View More Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money