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☆ Despite Billions in Investments, Biden Trails in Arizona and Georgia
▼ + stars: | 2024-05-15 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

President Biden’s economic policies have helped spur billions of dollars in new investments in Arizona and Georgia, two crucial battleground states in the 2024 election. Yet so far, Mr. Biden’s policies appear to have done little to lift his support in either region. Arizona and Georgia have been major beneficiaries of the Biden administration’s key policy initiatives — the Inflation Reduction Act, the CHIPS and Science Act and the bipartisan infrastructure law. Georgia has been a big beneficiary of Mr. Biden’s clean energy and infrastructure laws. Still, former President Donald J. Trump has maintained a significant lead over Mr. Biden in both states, according to new polls by The New York Times and Siena College.

Persons: Biden, Donald J, Trump Organizations: Semiconductor Industry Association . Georgia, Mr, The New York Times, Siena College Locations: Arizona, Georgia

President Biden came out swinging this week when he announced a series of steep tariffs on Chinese imports, including 25 percent on certain steel and aluminum products, 50 percent on semiconductors and solar panels and 100 percent on electric vehicles. The administration’s official reason for the policy is simple: Chinese imports are undercutting American manufacturers in swing states like Michigan, Wisconsin and Pennsylvania. And Mr. Biden wants to protect them from competition, as he pours huge amounts of government money into building up the manufacturing of electric vehicles and solar panels that can eventually compete with China’s inexpensive offerings. But the truth is, these new tariffs on electric vehicles are little more than a handout to legacy car companies like General Motors and Ford. With more cash and better credit, wealthy Americans are the only ones who can afford the electric vehicles currently on the market, which cost over $55,000 on average.

Persons: Biden, aren’t Organizations: General Motors, Ford Locations: American, Michigan , Wisconsin, Pennsylvania, United States, U.S

☆ Russia can't seem to stop this Ukrainian Cessna-style drone that, compared to missiles, is basically a 'flying brick' with a bomb onboard
▼ + stars: | 2024-05-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Experts say these aircraft underscore the success of Ukraine's innovative long-range drone program, which Kyiv has employed to go after Russia's military and energy facilities. The Ukrainian drones are in fact slow-flying ultralight planes. And if Ukraine can find a corridor that lacks proper air-defense coverage, then the drone can effectively penetrate right through Russian territory, Hoffmann said. Notably, the Cessna-style drone underscores the success of Ukraine's ever-evolving drone program. The aircraft was converted into a drone - A-22 Flying Fox.

Persons: —, JzjMc83uA4 —, Fabian Hoffmann, it's, Hoffmann, Petersburg —, It's, Gordon Davis Jr, Davis, Ukraine's, …, obdWO5ACNA, Washington, Lance Landrum, Landrum Organizations: Service, Cessna, Business, Kyiv, University of Oslo, US Army, Center for, Fox, US Air Force Locations: Ukraine, Kyiv, Republic of Tatarstan, Russia, Republic of Bashkortostan, Bashkortostan, Russian, Tatarstan, Moscow, St, Ukrainian

☆ These wall-climbing, AI-powered robots are finding the flaws in 'D' grade US infrastructure, from commuter bridges to military hardware
▼ + stars: | 2024-05-15 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

A focus on military hardware, from subs to aircraft carriersGecko robots are increasingly being utilized by the U.S. military. In 2022, the U.S. Air Force awarded Gecko Robotics a contract to help it with the conversion of missile silos. Gecko Robotics technology can collect upwards of 20 million data points in a tenth of the time, Loosararian said. The digital twins being created by Gecko robots also help with the building of future projects, saving not only time but resources and capital. "It's not just about how things work day-to-day but also how do you build smarter things," Loosararian said."

Persons: Baltimore's Francis Scott Key, weren't, Jake Loosararian, CNBC's Julia Boorstin, Loosararian, It's Organizations: Robotics, CNBC, Biden's, U.S ., U.S . Air Force, U.S . Navy, Columbia, Navy, USS Locations: Philadelphia, U.S, New York City, China

☆ Europe must avoid ‘disaster’ of trade decoupling as it eyes China tariffs, EU's economics chief says
▼ + stars: | 2024-05-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc's economic chief said Wednesday. "But this is not bringing us to a theory of decoupling of global trade, which would be a disaster for both parts of the decoupling," he said. "The characteristic of the EU economy is to be more open, more influenced by trade, and less by only internal consumption. This is the reason, the economic reason, why it is in the interest of the European Union to keep the doors of trade open." Meanwhile, several EU nations are nervous about potential Chinese retaliatory trade measures hitting important domestic industries, from German automotives to French cognac.

Persons: Paolo Gentiloni, CNBC's Silvia Amaro, Gentiloni Organizations: European, European Union, CNBC Locations: European Union, Europe, China, EVs, U.S, Russia, Ukraine

☆ Stock futures are little changed after S&P 500 closes above 5,300 for the first time: Live updates
▼ + stars: | 2024-05-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Traders walk the floor during morning trading at the New York Stock Exchange (NYSE) on May 14, 2024 in New York City. Stock futures were near flat Wednesday evening after a lighter-than-expected inflation reading propelled the major averages to record highs. Futures tied to the Dow Jones Industrial Average inched lower by 18 points, or 0.05%. S&P 500 futures slipped 0.02%, while Nasdaq 100 futures hovered eked out a 0.07% gain. The Dow climbed 0.88%, while the broad-market S&P 500 gained 1.17%, breaking above 5,300 for the first time.

Persons: Dow, Dow Jones, Yung, Yu Ma, Armour Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, BMO Wealth Management, CNBC, Philadelphia Federal Reserve, Baidu Locations: New York City

☆ Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing
▼ + stars: | 2024-05-14 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.

Persons: Joe Biden, “, ”, Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest

☆ Solugen: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Over the past century, major chemicals companies like BASF, Dow and LyondellBasell have maximized a global manufacturing process that is derived from fossil fuels. Sparked by a chance medical school poker game conversation in 2016, Solugen evolved from prototype to physical asset in five years, and production hit commercial scale shortly thereafter. "Solugen is the first synthetic biology company with a demonstrated ability to scale both their sales and their own manufacturing," an investor told CNBC at the time of the 2021 deal. The Bioforge, as its manufacturing platform is known, is designed to minimize the massive environmental toll of traditional chemical manufacturing, and in a perfect world, result in carbon-neutral if not carbon-negative emissions. Bioforge 1, its Houston-based site, is a zero discharge facility without air or wastewater emissions.

Persons: Solugen, Baillie Gifford Organizations: BASF, Dow, CNBC Locations: Houston

☆ 14 analysts upgraded this global AI chip stock in the past 2 weeks
▼ + stars: | 2024-05-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

There's been so much love for one global chip stock that as many as 14 analysts upgraded it in the past two weeks. Based on a CNBC Pro FactSet screen, 14 analysts upgraded the stock in the past two weeks, and none downgraded it. Those covering the stock say they are optimistic in light of AI demand, among other factors. This "inefficiency" has been estimated to likely create an additional ~10% in equipment demand over time," Kim added. When it comes to AI, Kim also said that each large language model upgrade cycle requires roughly 100 times more in compute capacity upgrades.

Persons: There's, That's Taiwan's, Phelix Lee, Lee, Dan Kim, Kim, FactSet, TSMC Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, CNBC, Morningstar, Saturna Locations: U.S, China, Taiwan

☆ Boeing may be prosecuted after breaking safety agreement that prevented criminal charges for 737 crashes, US DOJ says
▼ + stars: | 2024-05-14 | by ( Evan Perez | ) edition.cnn.com time to read: +5 min

CNN —The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. The notification comes as the Justice Department conducts a new investigation into Boeing’s operations in the wake the door plug incident. The earlier deal had resolved a fraud investigation related to the company’s development of its 737 Max aircraft. Under its deferred prosecution agreement from January 2021, Boeing paid $2.5 billion in penalties and promised to improve its safety and compliance protocols. In March, the FAA identified more potential safety issues with the engines of the 737 Max and 787 Dreamliner.

Persons: Max, “, Reed O’Connor, Biden, Paul Cassell, ” Cassell, ” Organizations: CNN, US Justice Department, Boeing, Alaska Airlines, Department of Justice, Justice Department, Max, Lion, Justice, Air Force, Transportation Safety Board, Federal Aviation Administration, FAA Locations: United States, Fort Worth , Texas

☆ Stock futures are little changed as Wall Street readies for key inflation report: Live updates
▼ + stars: | 2024-05-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures were little changed as Wall Street braced for April's consumer price index. Futures tied to the Dow Jones Industrial Average added 17 points, while S&P 500 futures and Nasdaq 100 futures hovered near the flatline. The Dow Jones Industrial Average gained 0.32%. Economists polled by Dow Jones expect the consumer price index to show a 0.4% monthly gain, or a 0.3% increase excluding food and energy. Tuesday's producer price index for April contributed to that narrative, showing a 0.5% gain in wholesale prices, above the 0.3% estimate from Dow Jones.

Persons: Nextracker, Dow Jones, Tom Lee Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Investors, Federal, Dow, Fundstrat Global, Cisco Systems Locations: New York City

☆ Young workers are flocking to these fast-growing job markets—they're not on the coasts
▼ + stars: | 2024-05-14 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

New York, Washington, D.C. and other major metros may be some of the most sought-after job markets for young professionals, but for ample opportunities and high-paying roles, they may have better luck in the Sun Belt. The metro areas around Tucson, Arizona; Tallahassee, Florida; and Gainesville, Florida; are the fastest-growing job markets for entry-level roles, according to new data from LinkedIn. The top industries hiring entry-level workers are secure fields like manufacturing, government, education and health care. 1 priority is finding a job with stability. The professional services sector has seen more layoffs in recent years, Kantenga says, but common jobs in consulting and legal services also pay "extremely well," which may be a worthwhile tradeoff for young people.

Persons: Kory Kantenga, Kantenga, grads Organizations: LinkedIn, Sun Locations: York, Washington, Tucson , Arizona, Tallahassee , Florida, Gainesville , Florida, Tallahassee, Florida, Chattanooga , Tennessee, Savannah, Georgia, Des Moines , Iowa, Birmingham , Alabama, Harrisburg , Pennsylvania, Huntsville , Alabama, Hartford , Connecticut, South, Americas, Tucson

☆ 24. Carbon Robotics
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +4 min

In a sign of how the ties between the deepest players in the field of artificial intelligence and other sectors of the economy are growing, Nvidia just announced a venture investment in Carbon Robotics in May. Carbon Robotics is a pioneer in AI-powered agricultural robotics designed to help farmers cut costs, boost production and improve crop yield. In 2023, Carbon Robotics opened two new facilities: Carbon Robotics North and its Richland, Washington-based laser refurbishing and manufacturing facility, allowing the company to increase production rates — it says demand tripled year over year in 2023. Carbon Robotics has also added seven European languages to the LaserWeeder's iPad operator app. To continue its growth, Carbon Robotics raised $43 million in new capital in 2023, just over half of the $80 million it has raised since its founding.

Persons: it's, Paul Mikesell Organizations: Monsanto, Syngenta, BASF, Nvidia, Carbon Robotics, NBC, Deere, Robotics, AndNowUKnow, Stout Industrial Technology, Bear Flag Robotics, Technology Locations: Richland , Washington, Europe, Australia

☆ Americans with a college degree say they'd need at least a $100K salary to change jobs. But roles that pay in that range are getting harder to find.
▼ + stars: | 2024-05-14 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

As of the most recent March data, the average reservation wage for Americans with a college degree rose to a survey-high of $99,081, up from $97,270 in March 2023 and $81,758 in March 2020. It means that not as many Americans are landing new jobs that pay in the six-figure range. The average reservation wage for people without a degree was $68,390, up from $59,683 in March 2023 and $48,778 in March 2020. The average reservation wage among all respondents was $81,822, up from $75,811 and $61,377 in March 2020. AdvertisementAre you struggling to find a six-figure job?

Persons: —, it's Organizations: Service, York Fed's Survey, Consumer, Business, Bureau of Labor Statistics, of Labor Statistics, New, New York Fed Locations: York, New York

☆ Tesla is sued over air pollution from factory operations in Fremont, California
▼ + stars: | 2024-05-14 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Tesla is being sued by the nonprofit Environmental Democracy Project, which alleges "ongoing failure to comply with the Clean Air Act" at the electric vehicle company's assembly plant in Fremont, California. The latest lawsuit in California described Tesla's environmental violations as "ongoing" and said that residents and employees in the surrounding area have been exposed to "excess amounts of air pollution, including nitrogen oxides, arsenic, cadmium, and other harmful chemicals." The Bay Area Air Quality Management District, an environmental regulator, recently accused Tesla of allowing "unabated emissions" in Fremont that should have been prevented. Air pollution from the assembly plant is the result of equipment that frequently breaks down, allowing emissions to vent directly into the air without proper filtration, regulators have said. Additionally, Tesla employees or contractors have allegedly shut off air pollution controls in the factory, particularly when the company was having trouble with other paint shop equipment.

Persons: Tesla, Tesla's, Elon Musk, Musk Organizations: Democracy, Political Economy Research, University of Massachusetts, Environmental Protection Agency, Tesla, Bay Area Air Quality Management District, CNBC Locations: Fremont , California, San Francisco, Amherst, California, Germany, Berlin, Fremont

☆ AI boom to keep supply of high-end memory chips tight this year, analysts warn
▼ + stars: | 2024-05-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Photographer: SeongJoon Cho/Bloomberg via Getty ImagesHigh-performance memory chips are likely to remain in tight supply this year, as explosive AI demand drives a shortage for these chips, according to analysts. "We expect the general memory supply to remain tight throughout 2024," Kazunori Ito, director of equity research at Morningstar said in a report last week. The demand for AI chipsets has boosted the high-end memory chip market, hugely benefiting firms such Samsung Electronics and SK Hynix, the top two memory chipmakers in the world. High-performance memory chips play a crucial role in the training of large language models (LLMs) such as OpenAI's ChatGPT, which led AI adoption to skyrocket. HBM's production cycle is longer by 1.5 to 2 months compared with DDR5 memory chip commonly found in personal computers and servers, market intelligence firm TrendForce said in March.

Persons: SeongJoon Cho, Kazunori Ito, Morningstar, William Bailey, TrendForce Organizations: Samsung Electronics Co, Galaxy, Bloomberg, Getty Images, SK Hynix, Micron, Samsung Electronics, Nvidia, Samsung, Nasdaq Locations: Seoul, South Korea

☆ Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
▼ + stars: | 2024-05-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.

Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China

☆ U.S. energy panel approves rule to expand transmission of renewable power
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: +6 min

Republican Mark Christie opposed the rule, dismissing it as a gift to solar and wind power operators. Many power companies and Republican-led states don't want to spend money on new transmission lines or upgrades for renewable energy, creating conflicts with Democratic states that have ambitious clean-energy goals. The rule is intended to streamline how power lines are sited and how costs are shared between states. It could accelerate construction of new transmission lines for wind, solar and other renewable power and add huge amounts of clean energy to the grid. The new rule "will improve regional transmission planning, break down barriers to grid buildout and support the delivery of more affordable and reliable power,″ Zaidi said.

Persons: Joe Biden's, Willie Phillips, Allison Clements, Republican Mark Christie, Phillips, Christie, ″, Biden, Ali Zaidi, ″ Zaidi, Clements, Heather O'Neill, Chuck Schumer, Schumer Organizations: Federal Energy Regulatory Commission, Democratic, Republican, Energy Department, FERC, Advanced Energy Locations: Washington, U.S

☆ Why are hundreds of Teslas parked outside a dying shopping mall? A local news station solved the mystery.
▼ + stars: | 2024-05-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewChesterfield Mall, set to shut down in October, has become an unexpected parking lot for hundreds of Tesla vehicles over the last few months. The Teslas, including Cybertrucks, parked outside of the Chesterfield, Missouri, shopping spot puzzled people passing by, especially as the number of EVs seemed to increase over time. According to the report, Tesla is storing unsold vehicles at the mall until it shuts down. Staenberg said Tesla has occupied the space for about six or seven months and can stay until the mall closes in October. Inventory lots aren't uncommonTesla isn't the only car brand to store its unsold vehicles outside a dealership.

Persons: —, Michael Staenberg, Tesla, Staenberg, Tim Lowe, KTVI, General Motors, ramping Organizations: Service, Business, Chesterfield Mall, Ford's, Plant, General, oversupply, Cox Automotive, EV Locations: Chesterfield , Missouri, Chesterfield, Ford's Michigan, Wayne, Grand Blanc , Michigan, Berlin

☆ What Biden’s tariffs on Chinese imports may mean for American jobs, the economy and inflation
▼ + stars: | 2024-05-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Biden’s tariff plan likely won’t move the needle for monetary policy, said Ryan Sweet, chief US economist at Oxford Economics. “Consumers and producers often pay higher prices when tariffs are implemented.”That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately, consumers. Worse, some businesses appeared to take advantage of the trade war by bumping up prices even higher. Container shipping imports from China to Mexico rocketed higher by 60% in January and 34% for the first quarter, Xeneta data shows. “It’s obvious that imports to this extent are not only for domestic purposes in Mexico,” he said.

Persons: Biden, Joe Brusuelas, Donald Trump’s, Trump, —, Ryan Sweet, ” Sweet, Sweet, George W, Bush, Barack Obama, Goldman Sachs, ”, Wells, Nicole Cervi, “ There’s, ” Cervi, Peter Sand, “, Sand, “ It’s Organizations: CNN, RSM US, stoke, Oxford Economics, Biden, Peterson Institute for International Economics, Trump, Federal, “, US International Trade Commission, New, New York Fed, National Bureau of Economic Research, Republican, ramped, Container Locations: China, New York, “, South Korea, Singapore, Taiwan, Vietnam, Wells, Mexico

☆ Lightning Round: Hertz is too cheap right now, says Jim Cramer
▼ + stars: | 2024-05-14 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Hertz is too cheap right now, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Moderna, Modine Manufacturing, AMETEK, Hertz, Palantir and more.

Persons: Hertz, Jim Cramer Organizations: Moderna, Modine

☆ How China Rose to Lead the World in Cars and Solar Panels
▼ + stars: | 2024-05-14 | by ( Keith Bradsher | ) www.nytimes.com time to read: 1 min

For decades, China has moved methodically to dominate ever more industries, from toys and clothing in the 1980s to semiconductors and renewable energy today. China now produces a third of the world’s manufactured goods — more than the United States, Germany, Japan, South Korea and Britain combined. Its trade surplus in these goods is equal to a tenth of the entire Chinese economy. Top leaders in the United States and Europe have begun calling on China to dial back how much it sells to the world, and to increase its imports. On Tuesday, President Biden is expected to raise U.S. tariffs sharply on imports from China of electric cars, solar panels and other high-tech manufactured goods.

Persons: Biden Locations: China, United States, Germany, Japan, South Korea, Britain, Europe

☆ China's macro backdrop still points to an overall 'rangebound' market, says JPMorgan
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's macro backdrop still points to an overall 'rangebound' market, says JPMorganJulia Wang, executive director and global market strategist at JPMorgan Private Bank, says the "stability from the manufacturing side hasn't really found its way into the rest of the economy."

Persons: Julia Wang Organizations: JPMorgan Private Bank

☆ Stock market today: US stocks rise ahead of a big week with April inflation on deck
▼ + stars: | 2024-05-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors have a big week ahead for economic data, including April CPI and retail sales results. AdvertisementUS stocks edged higher on Monday ahead of a busy week of economic data that could shake stock prices. The most anticipated report for investors this week is Wednesday's release of the April consumer price index report. The inflation data will help investors determine when the Federal Reserve might cut interest rates this year. Ahead of consumer inflation data, the producer price index will be released on Tuesday, with median estimates suggesting a 0.2% rise in April.

Persons: —, Jerome Powell, Neel Kashkari Organizations: Dow Jones, Service, Federal Reserve, Investors, CPI, Philadelphia Fed, Minneapolis Fed Locations: Here's

☆ How new grads can land a job after college, even as employers cut back on Class of 2024 hires
▼ + stars: | 2024-05-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Those armed with a newly minted diploma are entering a job market that looks a little less promising than it did one year ago. Employers plan to hire about 5.8% fewer new college graduates from this year's class than they hired from the Class of 2023, according to a report from the National Association of Colleges and Employers. Some companies, in industries such as chemical manufacturing, finance, insurance and real estate, have pulled back after scaling up last year, according to NACE. However, there are still pockets of growth, mainly in miscellaneous manufacturing, utilities and professional services, NACE also found. "In terms of the quality and quantity, they can pursue jobs beyond the constraints of a particular zip code," Salemi said.

Persons: NACE, Vicki Salemi, Salemi Organizations: National Association of Colleges, Employers, Finance

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