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☆ Red Lobster closing at least 99 locations as its future comes into question
▼ + stars: | 2024-05-14 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain's long-term future. Last month, CNBC reported Red Lobster was seeking a buyer as it looked to avoid a bankruptcy filing, but none have materialized. Earlier this year, Thai Union, the largest investor in Red Lobster, announced it was seeking to exit its position. Red Lobster did not immediately respond to a request for comment.

Persons: Neal Sherman Organizations: TAGeX Brands, Business, CNBC, Thai Union Locations: Rohnert Park , California, Denver, Indianapolis, Rochester , New York, Sacramento , California, San Antonio, San Diego, U.S, Thai Union, Thai

☆ 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

☆ Wholesale prices rose 0.5% in April, more than expected
▼ + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon. Stripping out volatile food and energy prices, core PPI also increased 0.5% compared to the 0.2% Dow Jones estimate. On a year-over-year basis, wholesale inflation rose 2.2%, also the highest in a year. Core PPI inflation was at 2.4%, the biggest annual move since August 2023. Services prices boosted the wholesale inflation reading, rising 0.6% and accounting for about three-quarters of the headline gain, while the final demand goods index increased 0.4%.

Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters . Stock, BLS, Federal Reserve, Commerce, York

☆ Texas' labor market is booming. Here are the 26 highest-paying jobs in the Lone Star State.
▼ + stars: | 2024-05-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

Texas is seeing a strong labor market, with record-high employment figures. Business Insider looked at Bureau of Labor Statistics data to check out how pay looks in Texas. Texas' best-paying jobs are athletes and sports competitors, but around two dozen jobs pay over $175,000 on average. March data from the Bureau of Labor Statistics shows the state has a record-high number of people in the labor force and a record-high number of jobs. Starting in June 2023, the unemployment rate in Texas has consistently been 3.9%, and the rate has been close to or at the national unemployment rate during 2024 so far.

Persons: — Organizations: of Labor Statistics, Service, Bureau of Labor Statistics, Business Locations: Texas . Texas, Texas

☆ I've flipped burgers and hauled packages, but I didn't realize how bad hourly service jobs were until I got a 9-to-5 office job
▼ + stars: | 2024-05-14 | by ( Jane Zhang | ) www.businessinsider.com time to read: +8 min

So I got a job at a shipping company handling packages because I needed health insurance. AdvertisementAt the shipping company, it felt like management had the mindset that if we could be somewhere else, we would be there. It also makes the work feel more meaningful by scratching the itch in the creative side of my brain. You don't get that same sense of being "in the dirt" together when you're working a corporate job. Sometimes, there's that sentiment in office jobs, too, but it's a different kind of dirt when you're working these physical labor jobs.

Persons: —, Justin Jordan, I've, I'd, We've, couldn't, — there's, Kristen Davis, Jane Zhang Organizations: Service, Business, NBC4 Locations: NBC4, janezhang@businessinsider.com

☆ Trading CPI: How stocks could react to Wednesday’s inflation report
▼ + stars: | 2024-05-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Traders at JPMorgan broke down how they expect stocks will react to Wednesday's report, with a focus on core CPI month over month, based on six different scenarios: 40% chance — The reading rises 0.3%-0.35%: This is the most likely outcome, per JPMorgan traders. S & P 500 moves could range between a 0.5% loss and a 1% gain. 10% chance — Core inflation climbs more than 0.4%: The S & P 500 would drop 1.75% to 2.5% under such a hot report, JPMorgan traders think. 7.5% chance — Core CPI gains 0.2%-0.25%: A decline in housing cost increases along with lower core goods prices could make this outcome possible. It would also send the S & P 500 up 1.5% to 2%, JPMorgan traders said.

Persons: Dow Jones, Defensives outperforming Organizations: CPI, Traders, JPMorgan, of Labor Statistics

☆ 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

☆ Australia's budget is expected to target housing crisis as prices keep climbing
▼ + stars: | 2024-05-13 | by ( Vivien Soo | ) www.cnbc.com time to read: +6 min

Recent reports indicate that Australian home prices are set to continue their upward trend, driven by increasing migration rates and a shortage of housing supply. Treasurer Jim Chalmers is set to deliver the budget on Tuesday, which is expected to focus on addressing the nation's housing crisis. The Albanese government has already said it plans to allocate 88.8 million Australian dollars ($58.7 million) to train 20,000 local workers for the construction and housing sector. The National Housing Supply and Affordability Council (NHSAC) said Australia's limited housing supply has been further stretched by a number of factors, including "the resumption of migration at pace, rising interest rates, skills shortages, elevated construction company insolvencies, weak consumer confidence and cost inflation." She also said high housing prices have "ugly" long-term effects.

Persons: Andrew Merry, Eliza Owen, Jim Chalmers, Albanese, Peter Dutton, Owen, CoreLogic's Owen Organizations: Australia, Reserve Bank, Australian Bureau, Statistics, CoreLogic, ABS, Housing Supply, Authorities, Australian Bureau of Statistics Locations: North Bondi, Sydney, Australia, CoreLogic Australia

☆ Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows
▼ + stars: | 2024-05-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.

Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York

☆ Shein promised to tackle overwork. A new report claims 75-hour weeks are still common
▼ + stars: | 2024-05-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“The 75-hour weeks that we found out about two years ago still seem to be common at Shein,” the Swiss organization said. Public Eye interviewed 13 textile workers employed at six factories in Guangzhou, a region in southern China, last summer. Shein does not reveal the identity of its suppliers, Public Eye said in its report. The group said it established that the factories were Shein suppliers through interviewees’ responses as well as the presence of Shein products. I can’t afford any more days off because it costs too much,” Public Eye cited one worker as saying.

Persons: London CNN —, Shein, “, ”, ” Shein Organizations: London CNN, Workers, Public, Public Eye, Wage, CNN Locations: Swiss, Guangzhou, China, ”

☆ Dollar slips after unexpected rise in U.S. producer prices
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes. The dollar was slightly lower on Tuesday after an initial jump following an unexpected increase in U.S. producer prices in April that indicated inflation remained elevated early in the second quarter. The producer price index for final demand rose 0.5% last month after falling by a downwardly revised 0.1% in March, the Labor Department's Bureau of Labor Statistics said on Tuesday. The dollar index, which measures the U.S. currency against six rivals, was down 0.18% at 105.03. The dollar strengthened against the yen, up 0.15% at 156.43.

Organizations: Labor Department's Bureau of Labor Statistics Locations: Czech

☆ As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose
▼ + stars: | 2024-05-13 | by ( Christopher Flavelle | Mira Rojanasakul | ) www.nytimes.com time to read: +28 min

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass. Iowa Iowa Neb. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass. Iowa Iowa Neb. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Colo. Colo. Mass.

Persons: Dave Langston’s, Langston, ”, Dave, Linda Langston, Conn ., S.D, N.M, “, Dave Jones, Carolyn Kousky, “ It’s, Sridhar Manyem, Bill Montgomery, Kristin Heiges, Eldon Neighbor, That’s, Tom O’Meara, Kelsey Kremer, Reinsurers, Doug Ommen, Brandi Mace Storm, David Storm, Tim Kuehner’s, Brandi Mace Storm’s, haggling, Pekin, Mace Storm, Susan Crisler, Tim Kuehner, Tony J, Larson, Chesleigh Fowler, Kelley Erstine, Mr, Erstine, ” Kevin Walters, California Colorado Utah Washington Matt Child, Matthew Baker, Ariz, ” Mr, Baker, Amy Bach, United, Dave Langston, Ommen, Tim Zawacki, Lyndsey Layton, Douglas Alteen, Claire O'Neill, Matt McCann Organizations: IOWA MINNESOTA SOUTH, COLORADO ARKANSAS, NEBRASKA COLORADO, SOUTH, New York Times, Ark . Iowa Ariz, Minn, La . Iowa Iowa Neb, Neb . Texas Idaho Ga, ND Iowa, S.D . Miss, Wash . Ohio Utah Wis, University of California Berkeley, Treasury Department, Environmental Defense Fund, State, NOAA, Celina Insurance, Secura Insurance, Secura, Homeowners, Swiss, Des Moines Register, Associated, “, Iowa, Iowa Minnesota Wisconsin, Pekin Insurance, Pekin, Christensen Group Insurance, Travelers, Nationwide, Indiana Ohio Michigan Illinois, . Arkansas Kentucky Florida Tennessee, Tennessee Department of Commerce and Insurance, ”, Washington, Wildfire, California Colorado, California Colorado Utah Washington, P Global Market Intelligence Locations: Iowa, IOWA MINNESOTA, IOWA MINNESOTA SOUTH DAKOTA NEBRASKA, COLORADO, COLORADO ARKANSAS KENTUCKY ILLINOIS, IOWA MINNESOTA SOUTH DAKOTA, NEBRASKA COLORADO ARKANSAS, KENTUCKY ILLINOIS, SOUTH DAKOTA NEBRASKA, COLORADO ARKANSAS, Iowa , Minnesota, South Dakota , Nebraska , Colorado , Arkansas , Kentucky, Illinois, Cedar Rapids, Cedar Rapids , Iowa, Marshalltown , Iowa, Florida , California, Louisiana, Iowa , Arkansas , Ohio, Utah, Washington, Colo, Mass, Colo . Calif, Calif, Colo . Ala, Colo ., Mont, Fla, Ark . Iowa, Colo . Ill, S.D, N.D, Conn, Del . Idaho Fla, Miss, Neb ., Ky, Ga, Hawaii Mont, N.M . Iowa Fla, Mont ., La . Iowa, Neb . Texas Idaho, ND, Md, Ill, Wyo, Ill . Idaho, . Ill, Minn, Ind, S.D . Vt, La . Texas Mont, Neb . NC, Neb . Mich, N.M, S.D ., Va . Ore . Ohio Mo . Texas, Tenn, Wash . Ohio Utah, Okla, Tenn . Utah, Wis, S.D . Va . Ore . Ohio Mo . Texas, California, American, U.S, Pennsylvania, Arizona, Wisconsin, United States, Marshalltown, Iowa Minnesota, Iowa Minnesota Wisconsin South Dakota, Celina, Pekin, Des Moines, Minnesota, Illinois , Indiana , Ohio, Illinois , Indiana, Michigan, Arkansas, Kentucky, Tennessee, . Arkansas Kentucky Florida, Georgia , Kentucky, Mississippi, Washington State, California Colorado Utah, Salt Lake City, Phoenix, Flagstaff, it’s, Gilbert, Seattle, Colorado, Florida’s, Central City , Iowa, Georgia

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 7.09% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.38% last week, according to Freddie Mac data, which is a nine-basis-point decrease from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac Organizations: Bureau of Labor Statistics, Federal Reserve, Federal Reserve Bank, Zillow, Fed Locations: Chevron

☆ Shein's U.S. charm offensive and IPO could hinge on NRF membership. So far, it's been rejected
▼ + stars: | 2024-05-13 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Open to allIt's unclear why the NRF rejected Shein's membership application, but according to one of the people familiar, someone with sway is strongly against the company's admittance. The NRF's board has a leadership team and an executive committee. An NRF membership application form that can be found online states: "Companies principally engaged in retailing are eligible for membership in the Federation." Two of the board members said they weren't aware of any instances where the NRF denied a retailer membership. "I don't think they are in the business of turning anyone down," one of the board members told CNBC.

Persons: Scott Olson, Matthew Shay, Courtney Reagan, CNBC Steve Dennis, Neiman, Sears, Dennis, Shein, John Furner, Bob Eddy, Mike George, Brian Cornell, Tony Spring, wasn't, Wang Ying, Ashley Sanchez, Joscelin Flores, Allen J, They've, Temu, it's Organizations: Getty, National Retail Federation, CNBC, Neiman Marcus, New York Stock Exchange, Shay, Walmart U.S, BJ's Wholesale, Qurate, QVC, Federation, Brands, Publicis Groupe, Coresight, Xinhua News Agency, Forum, World Retail, Los Angeles Times, Chinese Communist Party Locations: Whitestown , Indiana, New York City, America, U.S, New York, United States, Hamburg, Germany, Los Angeles, Paris, Davos, Switzerland, Las Vegas, Shoptalk, Fontana, Ontario Mills, Ontario

☆ S&P 500 to fall 500 points and getting to 2% inflation soon is 'pipe dream,' Stifel says
▼ + stars: | 2024-05-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Stifel Financial is predicting a rough road ahead for the S & P 500 . The investment bank forecasts the benchmark stock index will tumble about 500 points to 4,750 in the second or third quarter — a correction of roughly 10%. "As a result, the sustained 2% Core PCE inflation the Fed seeks is a pipe dream." Stifel's inflation model shows a jump in core personal consumption expenditures to just over 3% in the second half of this year. The S & P 500 is up about 9.5% year to date.

Persons: Barry Bannister, Bannister Organizations: PCE

☆ These 'virtuous' stocks with high dividend growth and strong cash flow are primed for outperformance, Wolfe Research says
▼ + stars: | 2024-05-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Against this backdrop, Wolfe Research screened for stocks that can help investors navigate a still challenging macroeconomic backdrop. "One of our favorite dividend strategies is to buy companies with a virtuous combination of (1) high dividend growth, and (2) a high free cash flow yield," Wolfe Research's Chris Senyek wrote. Johnson & Johnson was one of the companies that made the cut. Johnson & Johnson also said earlier in May it would spend $6.5 billion to resolve all outstanding litigation in the U.S. tied to claims its talc power caused ovarian cancer. JNJ YTD mountain Johnson & Johnson stock.

Persons: isn't, Wolfe, Chris Senyek, Johnson, Enrique Lores, it's, — CNBC's Michael Bloom Organizations: Federal Reserve, Wolfe Research, Wall, Johnson, HP Inc, HP, Constellation Energy, Constellation, eBay, Vistra Energy Locations: U.S, Johnson

☆ Why a debt-fueled US economy is facing a hard landing in 2025, chief economist says
▼ + stars: | 2024-05-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

According to the Apollo chief economist, that's because current strength stems from high debt loads, both among US consumers and the corporate world. Slok pointed out that delinquencies are rising on credit cards and auto loans, despite an economy with low unemployment. But while that keeps a hard landing on the table, the next few quarters will still deliver solid performance, he said. Advertisement"We still have behind us a very strong tailwind. We still have strong spending in the pipeline from the Chips Act, Inflation Reduction Act, the Infrastructure Act."

Persons: —, Torsten Slok, Slok Organizations: Service, Apollo, Business, Bloomberg, Fitch, Reserve Locations: headwinds

☆ Massachusetts takes Uber and Lyft to trial over status of gig workers
▼ + stars: | 2024-05-13 | by ( ) edition.cnn.com time to read: +2 min

Uber and Lyft are set to face trial on Monday in a US lawsuit by Massachusetts’ attorney general alleging the ride-share companies misclassified their drivers as independent contractors rather than more costly employees. Uber (UBER) and Lyft (LYFT) argue that they properly classified the drivers, saying they are not transportation companies that employ drivers but technology companies whose apps facilitate connections between drivers and potential riders. The lawsuit going to trial was filed in 2020 by Campbell’s predecessor, Maura Healey, now the state’s Democratic governor. Should the state prevail, it has said the companies could face large penalties for not properly classifying their drivers. By not classifying their Massachusetts drivers as employees, Uber and Lyft avoided paying $266.4 million into workers’ compensation, unemployment insurance and paid family medical leave over 10 years, according to a report by the state auditor.

Persons: Andrea Joy Campbell, Uber, Peter Krupp, Rohit Singla, Maura Healey, Lyft Organizations: Democratic, Studies, Massachusetts, Campbell’s Locations: Massachusetts, Boston, Suffolk

☆ Signs of softness in the labor market, CIO says
▼ + 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 EmailSigns of softness in the labor market, CIO saysManpreet Gill, chief investment officer for Africa, the Middle East and Europe at Standard Wealth Management, discusses the outlook for the U.S. Federal Reserve's monetary policy.

Persons: Manpreet Gill Organizations: Standard Wealth Management, U.S, U.S . Federal Locations: Africa, East, Europe, U.S .

☆ Jamaal Bowman may be the most endangered Squad member. He doesn't seem alarmed.
▼ + stars: | 2024-05-13 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +19 min

Advertisement"He was recruited by AIPAC to run against us because we called for a permanent cease-fire," Bowman said of Latimer. In January, Bowman lost the support of the liberal pro-Israel group J Street over his rhetoric on Israel. Like Bowman, Latimer has a blunt and direct speaking style that sometimes leades to gaffes, such as his invocation of the racist lynching of Emmett Till when commenting on the sexual misconduct allegations against then-Gov. When asked about Bowman's charge of racism, Latimer pointed to his appointment of Ken Jenkins, a Black man, as his deputy county executive. Bowman and Latimer have known each other for nearly four years, first meeting for coffee after the congressman's 2020 primary victory.

Persons: Jamaal Bowman, George Latimer —, Worker's, Bowman, Latimer, Sen, Shelley Mayer, Marjorie Taylor Greene, Thomas Massie, George Santos, haven't, we're, Bryan Metzger, He's, Cori Bush of, Bernie Sanders's, —, Benjamin Netanyahu, Selcuk, — Bowman, Y'all, Israel, Bowman's, he's, Eliot Engel, George Latimer, Republican Rob Astorino, Jeenah, let's, Emmett Till, Andrew Cuomo, Ken Jenkins, he'd, Brian Fitzpatrick, Tom Kean of, who's, I'm, Joe Biden, Republican megadonors, Donald Trump, MAGA, Usamah Adrabi, deriding Latimer, they've, what's, Harrison, it's, They're, I've, Bowman —, that's Organizations: Westchester, Democratic Party, Capitol, American Israel Public Affairs Committee, Democratic, Israel, AIPAC, Getty, J, Republican, Washington, Working Families Party, Hamas, that's, Business, Mount Vernon High School, Apple Locations: Port Chester , New York, Congress, Westchester County, Mount Vernon, Port Chester, Cori Bush of Missouri, Israel, Queens , New York, Anadolu, Gaza, Westchester, Rye —, York, Latimer, White Plains , New York, Pennsylvania, Tom Kean of New Jersey, New York, California, Bronx, Yonkers, New Rochelle, Scarsdale, Rye, Harrison, Mount Vernon , New York, American

☆ I studied to be a surgeon, but I became an electrician instead. I have no regrets.
▼ + stars: | 2024-05-13 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Lexis Czumak-Abreu, a 27-year-old electrician in New York state. But now I work as an electrician. I did an apprenticeship with an electrician company in 2015 and kept up electrician jobs on the side when I needed money for my family. I became a full-time electrician instead of continuing in medicineI could no longer work as a personal trainer under the COVID-19 restrictions. I'm happy where I am and excited to move into working with even higher voltage in the future.

Persons: —, Lexis, Abreu, I'm, I've, haven't Organizations: Service, Business Locations: New York

☆ Why America Still Can't Get Rid of High Prices, Inflation
▼ + stars: | 2024-05-13 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.

Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real

☆ India elections 2024: Once again, millions of migrants are unable to vote
▼ + stars: | 2024-05-13 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +7 min

Often referred to as the “city of dreams,” Mumbai draws migrants from across the country hoping to find wealth and success. Noemi Cassanelli/CNNThe Covid-19 pandemic only underscored the volatility of migrant workers’ circumstances when millions lost their jobs almost overnight and were forced to go home. The biggest group is in the United Arab Emirates, with 3.4 million NRIs, followed by 2.5 million in Saudi Arabia; next is the United States with 1.2 million. The massive group of disenfranchised migrant workers stands in sharp contrast to these achievements – with no solution in sight. That means for now, voting remains an unlikely reality for many migrant workers.

Persons: India CNN — Chanu Gupta, ” Gupta, Chanu Gupta, Noemi Cassanelli, ”, Gupta, –, “ Organizations: India CNN, CNN, Nations, United Arab, ”, Workers Locations: Mumbai, India, Uttar Pradesh, Maharashtra, ” Mumbai, Bihar, Rajasthan, Gujarat, United Arab Emirates, Saudi Arabia, United States, United Kingdom, Dubai, NRIs

☆ Apple staff could go on strike at the first US store to unionize
▼ + stars: | 2024-05-13 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Workers at a Towson, Maryland, Apple store have authorized a strike. Concerns include work-life balance, unpredictable scheduling, and wages lower than living costs. This Apple store was the first to unionize in the US in June 2022. AdvertisementWorkers at an Apple store in Towson, Maryland — the first US store to unionize — have authorized a strike. Employees voted "overwhelmingly" in favor of allowing a strike, their retail labor union said in a statement on Saturday.

Persons: — Organizations: Apple, Service, Workers, Employees, Business Locations: Towson , Maryland

☆ Apple doesn't have to get into the AI sphere by itself, says Bernstein's Toni Sacconaghi
▼ + stars: | 2024-05-13 | by ( ) 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 EmailApple doesn't have to get into the AI sphere by itself, says Bernstein's Toni SacconaghiToni Sacconaghi, Bernstein senior research analyst, joins 'Squawk Box' to discuss Apple's labor developments at its retail stores, the company's AI strategy, and more.

Persons: Bernstein's Toni Sacconaghi Toni Sacconaghi, Bernstein

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