The Federal Reserve is expected to hold the bank’s key interest rate steady this week. Traders currently expect three rate cuts this year beginning in September.
Read More
The increase of migrant workers during the last two years cooled an overheated labor market and slowed wage growth across industries and states, according to an analysis of government statistics.
“The influx of immigrant workers appears to have helped alleviate the severe staffing shortages in certain industries that were pervasive during the pandemic’s volatile period,” Elior Cohen, an economist with the Federal Reserve Bank of Kansas City, wrote in the organization’s Economic Bulletin. It serves Colorado, Kansas, western Missouri, Nebraska, northern New Mexico, Oklahoma and Wyoming.
Read More
Looking under the hood of today’s jobs report shows it isn’t the home run that Democrats and the media claim.
Approximately half of the 303,000 jobs created last month came in the unproductive government or quasi-government healthcare sectors. These are not the types of jobs that drive growth and improve Americans’ living standards.
Read More
Minimum wage hikes in many states around the country and sky-high inflation are crushing independent restaurants that don’t want to raise prices on their customers, according to the Wall Street Journal.
In January, 22 states raised their minimum wage for hourly workers, according to the WSJ. Around 59 percent of small business owners said that higher labor costs were the biggest source of inflation in January, requiring price hikes to maintain current revenue levels.
Read More
The percentage of hourly and salaried workers in a union decreased in 2023, continuing a trend of ongoing decline in the past few decades.
The decline in 2023 was small, from 10.1% of the workforce to 10% even, but the trend is significant. In 1983, about 20% of hourly and salaried workers were in a union, meaning U.S. union membership has halved in about four decades.
Read More