DIRS.INFO The most relevant business & tech news

Maybe I won’t set up that factory. These companies — the small, private enterprises that are responsible for roughly half the private-sector employment in the country — are already having to pay much more for debt. They fund their operations using cash from sales, business credit cards and private loans — all of which are generally more expensive options for financing payrolls and operations. Now, they’re paying 10 percent interest on short-term loans. Hiring within these firms has slowed, and their credit card balances are higher than they were before the pandemic, even as spending has slowed.

Persons: Ms, Sheth Organizations: National Federation of Independent Business, Bank of America Locations: ”

☆ U.S. employers added 150,000 jobs last month, falling short of forecasts.
▼ + stars: | 2023-11-03 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

“This is mildly concerning but for now, these are still strong numbers,” said Sonu Varghese, chief market strategist at Carson Group, an asset management firm. The October numbers may have been held down because the survey was taken during major work stoppages — notably the strikes by the United Automobile Workers and related layoffs. has reached tentative contract agreements with the three major U.S. automakers and told striking members to return to their jobs. Some 96,000 people reported being out of work because of a strike or labor dispute in October, the most since 1997. But she added that unemployment would have to tick higher over a longer horizon for it to be clear that recession risks were heightened.

Persons: ”, Sonu Varghese, Claudia Sahm Organizations: Carson Group, United Automobile Workers, Federal Reserve

☆ Strong U.S. Job Growth Shows Economy Is Defying Challenges
▼ + stars: | 2023-10-06 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: 1 min

In a sign of continued economic stamina, American payrolls grew by 336,000 in September on a seasonally adjusted basis, the Labor Department said on Friday. The increase, almost double what economists had forecast, confirmed the labor market’s vitality and the overall hardiness of an economy facing challenges from a variety of forces. It was the 33rd consecutive month of job growth, and the increase was the biggest since January. The unemployment rate, based on a survey of households, was steady at 3.8 percent. It has been below 4 percent for nearly two years, a stretch not achieved since the late 1960s.

Persons: payrolls Organizations: Labor Department

☆ Wrestling With Inequality, Some Conservatives Redraw Economic Blueprint
▼ + stars: | 2023-09-05 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

More Republicans are coming to the view that economic inequality, or a lack of social mobility, is a problem in the United States — and that more can be done to enable families to attain or regain a middle-class life. Though discussions about inequality tend to be most visible among liberals, about four in 10 Republican or Republican-leaning adults think there is too much economic inequality in the country, according to a Pew Research survey. And among Republicans making less than about $40,000 a year who see too much economic inequality, 63 percent agree that the economic system “requires major changes” to address it. “I don’t think just having a bigger government is a solution to a lot of these problems,” said Inez Stepman, a senior policy analyst at the Independent Women’s Forum and a fellow with the Claremont Institute, a conservative think tank widely credited with giving Trumpism an intellectual framework. “But I do think that we could stand to think a little bit more on the right about how to make that 1950s middle-class life possible for people.”

Persons: ”, Inez Stepman Organizations: United States —, Republican, Pew Research, Independent Women’s, Claremont Institute Locations: United States

In the recreation-fueled, amenity-rich economy of Colorado’s Rocky Mountain region, there are two peak seasons: summer, with its rafting, hiking, fishing and biking, and the cold months filled with skiing and other winter activities. And then there is “mud season” — a liminal moment in spring when the alpine environment, slowly then suddenly, begins to thaw and only a trickle of tourists linger. It’s a period that workers in other places might bemoan. But for much of the financially stretched work force serving the assemblage of idyllic mountain towns across the state, a brief drop-off in business this spring was a respite. During a slow shift on a 51-degree day at the Blue Stag Saloon — a nook on Main Street in the vacation hub of Breckenridge — Michelle Badger, a veteran server, half-joked with her co-workers that “this winter was hell.”

Persons: Breckenridge — Michelle Badger Locations: Breckenridge

☆ Casino Mogul Steve Wynn Reaches Settlement Over Sexual Misconduct Claims
▼ + stars: | 2023-07-27 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

Steve Wynn, the longtime Las Vegas casino magnate and major Republican donor, has agreed to pay Nevada a $10 million fine and to step back from its gambling industry in a settlement related to employee allegations of sexual misconduct, closing his yearslong battle with the state’s gambling regulators. Mr. Wynn, 81, who did not admit wrongdoing in the settlement, agreed to be “entirely removed from any direct or indirect involvement” with financing, advertising and consulting in the state. The agreement appears to end regulators’ investigations into Mr. Wynn’s conduct, though he could face additional fines if he violates its terms. Mr. Wynn resigned as chairman and chief executive of his casino empire, Wynn Resorts, in 2018, when the misconduct allegations began to emerge more publicly. Amid the fallout, he divested company shares and stepped down from his position as finance chairman of the Republican National Committee.

Persons: Steve Wynn, Wynn, Wynn’s Organizations: Las, Nevada, Nevada Gaming Commission, Wynn Resorts, Republican National Committee Locations: Las Vegas

☆ Against the Odds, the U.S. Economy Chugs Along, as Fears Linger
▼ + stars: | 2023-07-07 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

But the dampening effect of higher rates has confronted the robust income and spending of many households and the staying power of businesses — both buttressed by emergency pandemic support from Congress and the Fed. Though families, business managers and investors alike have had to contend with the frustrating realities of inflation and economic uncertainty, growth has continued, almost defiantly. Some economists think it might be possible to wrestle inflation down fully without causing a big jump in unemployment. “The environment of ‘pick the data point that supports your narrative’ persists,” said Oren Klachkin, lead U.S. economist at Oxford Economics. “I still think a recession is more likely than not.”

Persons: Ellen Zentner, Morgan Stanley, ”, Oren Klachkin, “ Organizations: Federal Reserve Bank of Cleveland, Oxford Economics

☆ Ex-Prisoners Face Headwinds as Job Seekers, Even as Openings Abound
▼ + stars: | 2023-07-06 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

Mr. Hennings served 20 years in prison for reckless homicide in a confrontation he and his uncle had with another man. Even though he mostly hires formerly incarcerated men — at least 20 so far — he candidly tells some candidates that he has limited “wiggle room to decipher whether you changed or not.” Still, Mr. Hennings, 51, is quick to add that he has been frustrated by employers that use those circumstances as a blanket excuse. “I understand that it takes a little more work to try to decipher all of that, but I know from hiring people myself that you just have to be on your judgment game,” he said. “It’s hard for them not to look at you a certain way and still hard for them to get over that stigma,” Mr. Hennings said. “And that’s part of the conditioning and culture of American society.”

Persons: Hennings, —, ”, Mr

Search resuls for: "More About Talmon Joseph Smith"

8 mentions found