Category: Economy

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  • Striking Verizon Worker

    Verizon’s striking workers have reached a tentative deal

    Verizon and its striking labor unions reached a tentative deal on Friday that could potentially end a nearly two-month long strike by nearly 36,000 workers. U.S. Labor Secretary Thomas Perez announced that Verizon and the unions have reached an “agreement in principle” on a four-year contract. He expects the company to have its workers back […]

  • 15 strange marijuana businesses that are thriving with legalized pot

    The cannabis industry has been booming ever since the legalization of recreational marijuana use began in 2012 with Colorado leading the way. Since then, many states have quickly followed the trend including: California, New York, Pennsylvania, Texas and many, many others. The growing acceptance of recreational marijuana has paved the way for new or existing […]

  • Initial Jobless Claims

    Initial jobless claims fell less than expected

    Initial jobless claims fell to 278,000, beating economists’ expectations of 275,000. Jobless claims have remained below the 300,000 threshold for 63 straight weeks. The 4-week moving average was 275,750, an increase of 7,500 from the previous week’s unrevised average of 268,250, according to Bloomberg. There are no special factors listed in the report. Claims last week unexpectedly […]

  • Chinese steel is under attack by US officials

    US duties on Chinese steel just increased by 500%

    Duties on Chinese steel have increased by 500% after a spat between the US and China on Wednesday led to a quick increase in the cost of importing the product. Chinese cold-rolled steel is used to make appliances, cars, and electric motors. The cost of importing the steel occurred following a ruling by the US […]

  • Wall Street bonuses are plummeting

    Wall Street bonuses are in free fall as banking jobs continue to disappear

    Wall Street workers are starting to suffer from a declining bonus pool that could fall by about 20% this year, according to data from compensation consultant Johnson Associates Inc. The sharpest drop is likely to be in fixed-income sales and trading, as well as investment-bank underwriting, according to Bloomberg. Those workers are expected to see […]

  • US Hiring Slows

    US hiring slows to 160,000 jobs in the US

    There wasn’t much hiring going on by US companies in April. Only 160,000 jobs were added last month, according to the Labor Department’s latest report. Analysts at Goldman Sachs had estimated that 240,000 jobs would be added. Concerns are rising that the US economy may be losing its momentum. Growth is slower in 2016 than […]