The U.S. economy added 245,000 jobs in November, far below economists’ expectations, while unemployment fell to 6.7%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 245,000 in November, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 400,000 to 10.7 million. The U.S. added 638,000 jobs in October while the unemployment rate dropped to 6.9%. Read More
One of the first officials President-elect Joe Biden picked to serve in his White House helped spearhead efforts two decades ago to normalize trade relations with China, a move which studies have found led to the loss of millions of manufacturing jobs in the U.S.
Steve Ricchetti will serve as counselor to Biden, the transition team announced on Tuesday. Ricchetti was chief of staff to then-Vice President Biden during the Obama administration, and was deputy chief of staff to President Bill Clinton. Read More
U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop partly reflected an increase in… Read More
Less than a week after a series of critical tweets from the president over an Ohio plant closure, General Motors is announcing plans to add 400 jobs and build a new electric vehicle at a factory north of Detroit. The company says it will spend $300 million at its plant… Read More
Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least… Read More