Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn’t nearly as hot as initially reported. Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department’s Bureau of Labor Statistics reported Friday. Economists surveyed by … Read more
The U.S. labor market showed continuing strength in February through broad job creation of 275,000, with one sector leading the charge. Health care and social assistance saw the largest hiring gains of 90,700 jobs, according to the Bureau of Labor Statistics. The sector got a boost from sharp gains in hospital and ambulatory health-care services, … Read more
PORT-AU-PRINCE, Haiti — Rotting fruit, withered vegetables, empty water jugs and spent gas canisters now stock the stores and stands that serve Haiti’s poor — a consequence of the unrelenting gang attacks that have paralyzed the country for more than a week and left it with dwindling supplies of basic goods. The terrifying violence as … Read more
Combination showing Taylor Swift (L) and Ray Dalio. Getty Images (L) | CNBC (R) Hedge fund billionaire Ray Dalio attended Taylor Swift’s Eras Tour in Singapore, and posted a selfie from the packed venue along with a caption explaining why he thought the megastar should be the next president of the United States. “@TaylorSwift for … Read more
Customers shop at a supermarket in Foster City, California, the United States, Sept. 13, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%. They presented a more positive picture on inflation, with the forecast for the year brought to … Read more
FRANKFURT, Germany — The European Central Bank left its key interest rate at a record high as it waits for more confirmation that toxic inflation is under control for good — even as high borrowing costs drag on the stalled economy. The decision Thursday comes as central banks around the world, including the U.S. Federal … Read more
Traders work on the floor during morning trading at the New York Stock Exchange on March 6, 2024. Spencer Platt | Getty Images Despite the heavy concentration of the U.S. market rally in expensive, AI-focused tech stocks, analysts say Wall Street is not yet in bubble territory. The S&P 500 has climbed for 16 of … Read more
Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks for congressionally mandated appearances on Capitol Hill Wednesday and Thursday, Powell said policymakers remain attentive to the risks that inflation poses and don’t want to … Read more
LONDON — British Treasury chief Jeremy Hunt is seeking to bolster spirits within his Conservative Party ranks with a series of tax cuts that he hopes can turn the political dial ahead of a general election this year. Even though the British economy has hit one definition of recession and public finances will remain stretched … Read more