Tag Archives: jobs

Federal Reserve Chair Jerome Powell has warned that getting inflation under control will involve “some pain to households and businesses.” What kind of pain is he talking about? So far, the pain has been plunging stock values and higher borrowing costs for homes, cars, credit-card purchases and business investments. But the toll could also include a surge in unemployment, and all the strains that go along with it—which typically harms lower-income workers most of all. Powell won’t… Source link

U.S. stocks opened Friday’s trading session higher following an in-line August jobs report. Shortly after the opening bell, the S&P 500 was up 0.7%, the Nasdaq up 0.7%, and the Dow was up about 150 points, or 0.5%. This jump follows a volatile trading session on Thursday that saw all three major indexes sink before paring losses, with the S&P 500 and Dow finishing September’s first trading session in the green. Data from the Labor Department published Friday morning showed nonfarm payrolls grew… Source link

The virtual reality (VR) job postings at Meta have shockingly died down, as its Founder and CEO Mark Zuckerberg places a $10 billion bet on building his metaverse dream, a new report has shown. The VR job postings have also slowed down at other Big Tech companies like Apple and Google amid the hiring frezz and layoff season owing to the global economic meltdown,… Source link

Bond yields ripped higher after new employment data showed the U.S. economy adding a breakneck 528,000 jobs in the month of July. Emily Roland, co-chief investment strategist at John Hancock Investment Management, told Yahoo Finance the strong July jobs report shows that the economy is “not there yet” when it comes to recession. Michael Pearce, senior U.S. economist at Capital Economics, was even firmer in an email following Friday’s data: “The unexpected acceleration in non-farm payroll… Source link

The July jobs report was so out-of-the-blue hot on Friday — coming in at more than double expectations — that it may spur the Federal Reserve to be way more aggressive on interest rate hikes than market goers thought just one day earlier. If so, would that set the table for a potential swift downdraft in stocks? “I think it does at the S&P level for the index,” Wall Street’s biggest bear strategist Mike Wilson of Morgan Stanley told Yahoo Finance (video above) when asked if on if the jobs… Source link

The U.S. labor market remained red-hot in July despite expectations job growth would cool as tighter monetary conditions and company layoffs stoked fears of a recession. The Labor Department released its latest monthly jobs report at 8:30 a.m. ET on Friday. Here were the key numbers from the report, compared to economist estimates compiled by Bloomberg: Non-farm payrolls: +528,000 vs. +250,000 Unemployment rate: 3.5% vs. 3.6% Average hourly earnings, month-over-month: +0.5% vs. +0.4% Average… Source link

U.S. stocks were little changed Thursday following uneventful trading as investors looked ahead to July’s jobs report on Friday and barreled through more earnings. The S&P 500 edged down 0.1%, while the Dow Jones Industrial Average slipped roughly 0.3%. After rallying on Wednesday, tech stocks tried to build back momentum, with the Nasdaq up 0.4%. The biggest action in markets on Thursday, however, was happening away from the major stock indexes with the price of WTI crude oil falling below… Source link

Warner Bros. Discovery (WBD) has a lot of questions to answer ahead of its earnings report on Thursday. The three-month-old streaming conglomerate, which is set to report its first quarterly earnings since the $43 billion merger, plans to lay off 70% of its development business, according to The Wrap, which cited “multiple insiders.” The news has fueled speculation when it comes to the future of HBO Max with sources telling The Wrap that CEO David Zaslav, known for his cost-cutting leadership… Source link

Shopify (SHOP) today joined the ranks of tech companies laying off employees, announcing that it was set to cut 10% of its workforce. The recent tech layoffs and hiring freezes stems from a so-called boomerang effect, LinkedIn Principal Economist Guy Berger told Yahoo Finance Live (video above). “Tech just kept hiring, just kept rising and rising and rising, at least to the end of last year, and now it’s coming down much faster,” he said. “I would say it’s kind of like a boomerang in that it… Source link

Sandy Anuras, the chief technology officer of Sunrun. Photo courtesy Sandy Anuras, the chief technology officer of Sunrun Tech workers are walking away from high-paying jobs with great perks to help fight what they believe is the greatest existential problem of our lifetimes: climate change. In some cases, that has meant taking a pay cut. But Sandy Anuras, who recently joined home solar provider Sunrun as its chief technology officer, says a big paycheck sometimes comes with a price. “The tech… Source link