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☆ Despite a strong economy, some women are finding it harder to make ends meet
▼ + stars: | 2024-10-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

There is also a larger share of single women with children. As marriage rates fell, the number of women heading families rose. Across the board, women in the workforce faced steeper job losses and slower job recovery than men, according to research by the U.S. Census Bureau. Yet, even now, the labor force participation rate for women has not fully returned to pre-pandemic levels. "This is another area where we see returning to a pre-pandemic status quo as not good enough," said Julie Vogtman, the National Women's Law Center's director of job quality.

Persons: Marc Morial, Julie Vogtman Organizations: U.S, Center for American, Finance, U.S . Census, National Urban League, CNBC, National Women's Law

☆ Trump's immigration crackdown could deplete the construction workforce and make housing more expensive
▼ + stars: | 2024-10-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

Related storiesA 2022 George W. Bush Institute study found that US metros with the highest immigrant population growth scored the lowest construction costs. Without the supply of these workers, history suggests housing costs are likely to rise. These could be significant, given that the construction industry would be competing against other immigrant-dependent sectors. Trump's campaign has implied that cracking down on immigration will help ease housing unaffordability by effectively removing one source of demand. Meanwhile, Trump's platform is also pushing another policy initiative that's unlikely to help housing costs: tariffs.

Persons: Donald Trump, —, Donald Trump's, doesn't bode, Jim Tobin, Tobin, George W, JD Vance Organizations: Service, Republican, National Association of Home Builders, Home Builders Institute, Bush, SC, Congressional

Now, young men have emerged as a voting bloc that could potentially swing an election expected to see a razor-thin margin of victory for the candidate who wins. The trend has been especially pronounced among young men of color. Adding to the complexity is that younger men have actually experienced solid economic gains, at least on paper, during the Biden administration. Yet, some young men continue to express concerns about making ends meet, and say they consider current immigration policies to be an obstacle to their upward mobility. In the University of Chicago GenForward poll, young men named “economic growth” as their No.1 issue, with inflation not far behind.

Persons: They’re, Donald Trump, Harris, Joe Biden, Trump, Biden, —, JD Vance, Matt Nelsen, ” Nelsen, Kamala Harris, Nelsen, “, ” Organizations: Republicans, NBC, Trump, Harvard Kennedy School Institute of Politics, University of Chicago’s, University of Chicago, NBC News, Black, New York Times, U.S . Locations: U.S

☆ What if Trump Deported Millions of immigrants?
▼ + stars: | 2024-10-22 | by ( Emma Goldberg | Chase Castor | ) www.nytimes.com time to read: +6 min

Northwest Arkansas was last year ranked the 15th fastest-growing region in the country, and much of that population growth was driven by immigrant workers. “It’s a popular selling point to the base to say ‘I’m going to round up five million immigrants,’” said Mr. Quiñones, 35. The influx of immigrants into Northwest Arkansas has given rise to a thriving local ecosystem of businesses. Northwest Arkansas is the 15th fastest-growing region in the country, and much of that population growth is driven by immigrant workers. “We don’t have this thinking that people are being displaced,” Mr. Peacock said.

Persons: Diego Quiñones, Quiñones, Quiñones’s, Donald J, Tyson, Trump, JD Vance, Trump’s, “, ’ ”, Chase Castor, ”, Nelson Peacock, Peacock, . Peacock, Vance, Mr Organizations: Walmart, American Immigration Council, Ozark United FC, U.S, The New York Times, Northwest Arkansas Council, ” Locations: Bentonville, Ark, United States, Mexico, Arkansas, Northwest Arkansas, Springdale, America, Rogers, Downtown Springdale, Iowa, Ar . Northwest Arkansas, The, Fayetteville, Springfield , Ohio

☆ Apple's Made-in-the-USA chips signal a turnaround for the US' big semiconductor bet
▼ + stars: | 2024-10-16 | by ( Jacob Zinkula | Alistair Barr | ) www.businessinsider.com time to read: +7 min

AdvertisementThe US's efforts to produce more semiconductor chips have encountered some challenges over the past few years, but the tide may be turning. In 2022, President Joe Biden signed the CHIPS Act into law, which included $39 billion in manufacturing incentives for chip production in the US. Last year, TSMC announced that the official opening of its first Arizona fab would be pushed back from 2024 to 2025. TSMC's production of Apple chips is good news for Americans hoping to land jobs in the industry, Patel said. He said he thinks TSMC's production of Apple chips would bode well for the future.

Persons: TSMC, Biden, It's, —, Tim Culpan, Culpan, Tim Cook, Dylan Patel, SemiAnalysis, Mark Muro, Apple, Harris, Joe Biden, Arizona hasn't, it's, Morris Chang, Patel, Muro, bode Organizations: Apple, Service, Brookings Institution, Biden, Management, Workers, Brookings Institute, Semiconductor Industry Association Locations: Arizona, Taiwan, Phoenix

☆ The job market may be strong, but tell that to anyone looking for work or feeling stuck
▼ + stars: | 2024-10-11 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

September's robust job growth signaled what looks like a booming labor market. In general, the job market is booming. There's some tension hiding in the dataOn its face, the labor market is looking rosy. Job openings ticked up in August but have been broadly declining since 2022, adding to the tough labor market picture for job seekers. Related storiesEven though the labor market has cooled, it's largely done so without mass layoffs or a full-blown recession.

Persons: —, Cory Stahle, they're, Liz Wilke, Elizabeth Renter, Matt Colyar, Claudia Sahm, Julie Su, Wilke, It's Organizations: Service, Workers, Moody's, New Century Advisors, mhoff

Their employment rate is also slightly lower than women in their early 20s. "This smaller share reflects the fact that, within marriages, mothers are still more likely than fathers to specialize in child care," the Fed noted. Today, 26% of mothers are stay-at-home parents, compared with just 7% of fathers, according to a separate Pew study from August. Mothers working full time and year-round outside the home rarely recoup the lost wages, which add up to $20,000 a year, on average. Working moms are making just 71 cents for every dollar paid to fathers, according to an analysis of Census data by the National Women's Law Center.

Persons: Kelly Shue Organizations: Federal Reserve, Pew Research Center, Yale School of Management, CNBC's, National Women's Law

☆ The job market is in the 'Twilight Zone,' top economist Claudia Sahm says
▼ + stars: | 2024-10-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US job market is in a strange quandary, according to Claudia Sahm. The September jobs report was huge, but Sahm said the labor market is still cooling. AdvertisementThe job market is in a weird spot, even after Friday's stunningly strong nonfarm payroll report, Claudia Sahm says. The former Federal Reserve economist and the creator of a highly watched recession indicator pointed to signs that the labor market is cooling, despite September's blowout jobs report. Other forecasters have said the job market remains in uncertain territory, though labor conditions are generally on strong footing.

Persons: Claudia Sahm, Sahm, —, they're Organizations: Employers, Service, Federal Reserve, Bloomberg, Challenger, Atlanta Fed

☆ Russia's defense industry has a massive labor shortage. Rules on what jobs women can do are part of the issue.
▼ + stars: | 2024-10-05 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Russia's defense industry is short some tens of thousands of skilled laborers. Demographic trends and policies further strain Russia's labor force and defense industry. AdvertisementRussia does have one largely untapped source of labor for the defense industry: women. AdvertisementThe decline in Russia's labor force is forecast to continue until 2040, Massicot wrote. This would make bringing women into defense manufacturing a hard cultural and political pivot, Massicot said on X.

Persons: —, Vladimir Putin, Dara Massicot, Massicot, Putin, El País, Health Mikhail Murashko Organizations: Service, BBC, Carnegie Endowment, International, Workers, American Welding Society, Russian Academy of Science's Institute of Economics, Reuters, Russia's, Health Locations: Ukraine, Russia, BBC Russia, Eurasia, El

☆ U.S. job creation totaled 254,000 in September, much better than expected
▼ + stars: | 2024-10-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowThe U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate fell to 4.1%, down 0.1 percentage point. Strength in job creation spilled over to wages, as average hourly earnings increased 0.4% on the month and were up 4% from a year ago. You get upward revisions and it tells you the job market continues to be healthy, and that means the economy is healthy."

Persons: Nonfarm payrolls, Kathy Jones, Charles Schwab Organizations: Labor Department, Dow Jones, Federal Reserve Locations: U.S

☆ Jobless rates fall for Black and Hispanic men in September
▼ + stars: | 2024-10-04 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

This trend bucked the overall unemployment rate, which inched lower to 4.1% in September, down just 0.1 percentage point from August. In September, Black men saw their jobless rate fall to 5.1% from 5.9% in the month prior. The jobless rate similarly fell for Hispanic men to 4.1% from 4.8% last month. The unemployment rate for men in Black and Hispanic racial groups declined in September while staying little-changed for other racial groups, according to data released Friday by the Department of Labor. "Black unemployment typically holds about two times higher than White unemployment, among the first to be laid off.

Persons: Sarah Foster, Foster, — Organizations: Amerant Bank, Department of Labor Locations: Florida, Sunrise , Florida, Black

"The trend was inevitable," said Teresa Ghilarducci, professor of economics at The New School for Social Research in New York. "The lack of affordable childcare may be playing a role," according to Richard Fry, a senior researcher at Pew. "The childcare crisis, which was simmering prior to the pandemic, has come to a boil," according to a KPMG analysis. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. "When you don't get rewarded for working, you work less," Fry said.

Persons: Teresa Ghilarducci, Richard Fry, —, Pew's Fry, Fry Organizations: Federal Reserve, The New School for Social Research, Pew Research Center, Pew, KPMG Locations: New York

☆ The jobs market had a very strong September
▼ + stars: | 2024-10-04 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

The Fed is pivoting away from fighting inflation to supporting the labor market. The encouraging numbers doubled down on a labor market that's showing signs of strength after a slowdown. The Federal Reserve signaled a pivot from fighting inflation to supporting the job market with a 50-basis-point interest rate cut in mid-September, the first cut in four years. AdvertisementWage growth was another highlight for the labor market in September. The latest jobs report didn't just indicate a strong September.

Persons: —, Glen Smith Organizations: Service, Federal Reserve, BLS, GDS Wealth Management, Fed

☆ How immigration reform will supercharge the labor market, reduce national debt by over $600 billion in the next 2 decades: Research Affiliates CIO
▼ + stars: | 2024-10-04 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Research Affiliates CIO Chris Brightman believes immigration reform is needed to boost the economy. One proposed policy is projected to energize the labor market and liquidate $0.6 trillion in debt. But to one chief investment officer, immigration policy isn't a matter of political debate — it's an economic nonnegotiable. A declining population brings with it a declining labor force. Immigration policy solutionsBrightman sees the need for more friendly immigration policies such as providing permanent residency to immigrants who graduate from US universities.

Persons: Chris Brightman, —, Brightman, they're Organizations: Research, Service, Social Security, Medicare, Immigrants, Penn Wharton Budget, Immigration Locations: Japan, Korea, Taiwan, Canada, New Zealand, Australia, outlays

☆ Friday’s jobs report could be the last normal one for a while
▼ + stars: | 2024-10-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —September’s jobs report, due out Friday morning, is expected to show that the US labor market has slowed somewhat but remains on solid footing. While September’s employment data is expected to stay relatively tame, the same can’t be said for the October jobs report, which is set to be released on November 1, just days before the presidential election. The strikes and hurricane-related effects “are not going to permanently alter the trajectory of the labor market; but September is probably our last clean reading on the labor market for a while,” Ryan Sweet, chief US economist at Oxford Economics, told CNN earlier this week. The August jobs report, which showed better-than-expected estimated 142,000 payroll gains and a drop in the unemployment rate, went a long way to quell those fears. It showed that the jobs market is in “stasis,” Wells Fargo economists wrote in a note issued Tuesday.

Persons: bode, Lydia Boussour, ” Ryan Sweet, Helene, ”, Erica Groshen, They’ve, “, Andrew Challenger, Wells, Noah Yosif, ’ Sweet, Ejindu Ume, “ We’re, ” Ume Organizations: CNN, Federal Reserve, Boeing, Gulf Coasts, Oxford Economics, of Labor Statistics, Cornell University School of Industrial and Labor Relations, Employers, Challenger, Labor Department, Pantheon, Labor, BLS, “, American Staffing Association, Oxford, Miami University in Locations: EY, Hurricane, East, Gulf, Miami University in Ohio

☆ Fixing Social Security funding woes requires addressing immigration 'fraud,' Vance said. Here's what experts say
▼ + stars: | 2024-10-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +12 min

Trump in March said on social media platform Truth Social that Democrats are "killing Social Security and Medicare by allowing the invasion of the migrants." The earnings suspense file is an electronic holding file for wage items where names and Social Security numbers on Form W-2s do not match the Social Security Administration's records, an agency spokesperson said via email. "Immigration, in general, has a very positive role," said Sam Gutterman, chairperson of the American Academy of Actuaries' Social Security committee. The Social Security Administration in an email explained that there are strict rules about who can legally receive benefits and Social Security numbers. "The Social Security Act does not permit payment of benefits to noncitizens residing in the U.S. if they're not lawfully present here," a Social Security spokesperson said.

Persons: Sen, JD Vance, Alex Wong, Donald Trump, Kamala Harris —, Vance, Harris, Tara Watson, Watson, Andrew Biggs, General, Jeffrey Brown, Brown, I've, " Biggs, Sam Gutterman, Renata Miller, they're, actuary, Stephen Goss, Goss Organizations: Radford University, Getty, Social Security, Medicare, Republican, Trump, CNBC, of Homeland, Brookings Institution, Immigration, Immigrants, American Academy of Actuaries, Taxation, Social, someone's Social, American Enterprise Institute, Social Security Administration, Social Security Administration Office, Finance, American Academy of Actuaries ' Social Security, Department of Health, Human Services, HHS, Department of Homeland, SSA Locations: Radford , Virginia, U.S, misdirection

☆ Trump’s promises would spike inflation and wipe out jobs, study finds
▼ + stars: | 2024-09-26 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

The paper represents the most comprehensive analysis to date on the combined impact of Trump’s trade, immigration and Fed proposals. In that scenario, employment would be 9% lower than baseline by 2028 and inflation would surge to 9.3% by 2026. “So-called economists and experts doubted President Trump’s economic plans in his first term. That means the same factory workers Trump says he is trying to help would be hurt the most. Fed Chair Jerome Powell, who was nominated by Trump in 2017, cautioned against any effort to interfere with Fed independence.

Persons: Donald Trump, Trump, “, Warwick McKibbin, Megan Hogan, Marcus Noland, they’ll, ” Karoline Leavitt, Trump’s, Kamala Harris, Harris, ” Trump, McKibbin, Mark Zandi, ”, Jerome Powell, ” Powell, We’re Organizations: CNN, Republican, Federal Reserve, Peterson Institute for International Economics, Peterson Institute, Trump, Security, ”, Peterson, Moody’s, Bloomberg Locations: United States, China, America, Georgia, Michigan, outflows

☆ Fearful of the 'middle-income trap,' Indonesia pushes for major policy reform
▼ + stars: | 2024-09-26 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

Incoming President Subianto has promised to continue the charge toward making Indonesia a high-income economy. Economic reforms passed through by the outgoing president will make the achieving Indonesia's grand vision easier. "Widodo put in place a bunch of economic reforms, the most noticeable being making it easier to hire and fire new workers. Indrawati hopes to avoid "the middle-income trap" — an economic development situation where growing economies stagnate at middle-income levels and are unable to advance to the ranks of high-income countries. Major policy reforms, she believes, will help Indonesia sidestep that.

Persons: Sri Mulyani Indrawati, CNBC's, Joko Widodo, Prabowo Subianto, Subianto, Widodo, Gareth Leather, Indrawati Organizations: Afp, Getty, country's Finance, International Monetary Fund, Defense, Capital Economics, CNBC, Lowy Institute Locations: Jakarta, Indonesia, Washington, Australian, China, Asia

☆ 2 under-the-radar recession signals are flashing red this month, research firm says
▼ + stars: | 2024-09-25 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The firm's chief global strategist, Peter Berezin, pointed to two low-key labor market indicators flashing warning signals this month. AdvertisementHistorically, that number has always increased in the early stages of a recession, Berezin says. Meanwhile, recent survey data shows a narrowing gap in positive and negative labor market sentiment. On average, the peak in the labor differential comes nine months ahead of a recession, Berezin says. He says the data points to the contrary, with a slowdown in year-over-year labor force growth from 1.9% a year ago to 0.4% in August.

Persons: —, Peter Berezin, Berezin, landers Organizations: Service, BCA Research, Business, Bureau of Labor Statistics, Conference Board

☆ These are the top 10 global talent hubs in the world — and the U.S. isn't one of them
▼ + stars: | 2024-09-24 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +2 min

For the eleventh consecutive year, Switzerland topped the list as the world's most talent-competitive country, according to the IMD 2024 World Talent Ranking, signaling its strong and stable talent pool despite the rapidly changing global work landscape. The ranking measures how economies around the world perform when it comes to sustaining their pool of talent. This data is broken down into three buckets: investment in and development of homegrown talent, appeal (the extent to which a country taps into the overseas talent pool) and readiness (the availability of skills and competencies in the talent pool), according to the report. Switzerland remains at the forefront of talent competitiveness, topping the list since the ranking's inception in 2014. Singapore's steady rise is driven by the readiness of its talent pool, rated as No.

Organizations: IMD, Competitiveness, Switzerland Singapore Locations: Switzerland, Switzerland Singapore Luxembourg Sweden Denmark Iceland Norway Netherlands Hong Kong Austria, Asia, Singapore, Hong Kong, United States, U.S

☆ More men in their prime working years are neither working nor looking for jobs — here's why
▼ + stars: | 2024-09-21 | by ( Juhohn Lee | ) www.cnbc.com time to read: +1 min

Men have been steadily dropping out of the workforce, especially men ages 25 to 54, who are considered to be in their prime working years. According to the U.S. Bureau of Labor Statistics, the unemployment rate for prime-age working men was 3.4% in August 2024. But about 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared with just 2.5% in 1954. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. Watch the video above to find out why men are increasingly leaving the workforce.

Persons: Nicholas Eberstadt, Jeff Strohl, Carol Graham, you've Organizations: U.S . Bureau of Labor Statistics, American Enterprise Institute . Education, Center, Education, Workforce, Georgetown University, Pew Research Center, Brookings Institution

☆ How Springfield, Ohio, became home for thousands of Haitian immigrants
▼ + stars: | 2024-09-19 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +11 min

Mayor Rob Rue told CNN the city’s population has grown about 25% over the past three years, in part due to the arrival of Haitian immigrants. Volunteer teacher Hope Kaufman leads Haitian students during an English language class at the Haitian Community Help and Support Center in Springfield, Ohio, on September 13, 2024. They’re very happy to have them there, and frankly, that’s helped the economy.”Has something changed with Haitian immigration to the US? Members of the Haitian community in Springfield, Ohio — from left, Lindsay Aime, James Fleurijean, Viles Dorsainvil and Rose-Thamar Joseph — stand for worship at Central Christian Church on September 15, 2024. But in an interview with ABC’s “This Week,” the Republican governor stressed the economic benefit the Haitian immigrants are bringing to the city.

Persons: Margery Koveleski, she’s, ”, who’s, Last, Rob Rue, Chris Cook, …, Hope Kaufman, Roberto Schmidt, CNN’s Omar Jimenez, Mike DeWine, that’s, Biden, Nicaraguans, it’s, who’ve, they’d, Cook, Julia Gelatt, ” Gelatt, “, ” What’s, “ Haiti’s, Donald Trump, Lindsay Aime, James Fleurijean, Viles Dorsainvil, Thamar Joseph —, Jessie Wardarski, Sens, Sherrod Brown of, Tim Scott of, Bryan Heck, ABC’s, ” CNN’s Chelsea Bailey, Omar Jimenez, Meridith Edwards, Chris Boyette, Jack Forrest, Priscilla Alvarez Organizations: CNN, American Community Survey, Springfield City Council, AFP, Getty, ” Ohio Gov, ABC, United, US Customs, Department of Homeland Security, Officials, Citizenship, Immigration Services, House Homeland Security, Central Christian Church, City, Republican Locations: Springfield, Ohio, Haitian, Clark County, ”, ” Clark County, Koveleski, Springfield , Ohio, “, Macy’s, ” Ohio, “ Ohio, United States, Haiti, South America, Miami, Ft . Lauderdale, New York City, Canada, Cincinnati, Columbus, What’s, Sherrod Brown of Ohio, Tim Scott of South Carolina

“There’s no one that can organize quite like labor,” Harris campaign manager Julie Chavez Rodriguez said. All together, labor leaders predict thousands of union members will deploy to battleground states to knock on doors or work phone banks. “It will be determinative,” Butler said of the Sun Belt labor groups' role in the November election. “Arizona is going to be a state that, at the end of the day, will elect the president — President Harris — I truly believe that,” McLaughlin said. “Momentum will carry Vice President Harris and Governor [Tim] Walz through.

Persons: Joe Biden, Kamala Harris, Harris, Donald Trump’s, “, ” Harris, Julie Chavez Rodriguez, ”, Verrett, Trump, Biden, Shawn Fain, Chavez Rodriguez, they’ve, ” Biden, canvassers, “ Trump, ” Chavez Rodriguez, Sen, Laphonza Butler, ” Butler, Harris ’, Karoline Leavitt, ” Leavitt, Jim McLaughlin, —, Harris —, ” McLaughlin, Tim, Walz Organizations: ” Workers, Service Employees International Union, Culinary Workers Union, AFL, CIO, Democratic, SEIU, United Automobile Workers, General Motors, Heritage Foundation’s, Trump, Democrats, Sun, Boeing, Teamsters Union, Teamsters, Arizona’s AFL, United Food & Commercial Workers, Biden Locations: Midwest, janitors, Canada, California , Illinois, New York, Arizona , Nevada , Georgia, North Carolina, Flint, Mich, McDonald’s, California, U.S, Reno , Nevada, Las Vegas, Nevada, Arizona

☆ Putin is embarking on an aggressive hiring drive to rejuvenate Russia's army. But he can't sustain it, experts say.
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

On Monday, Putin ordered the army to increase its troops by 180,000, per a decree published by the Kremlin. This will raise the overall number of Russian military personnel to 2.38 million people, with 1.5 million of them being active soldiers. AdvertisementThe gear coming off the production line "will still be substantial," Reynolds told BI in an interview on Wednesday. Russia has "adapted much better than predicted to some of the pressures it's been put under," Reynolds told BI. Other experts BI spoke to said that while Putin might still be able to grow Russia's army, it may only add more strain to the already-stretched Russian labor force.

Persons: —, Vladimir Putin, Putin, Nick Reynolds, Reynolds, That's, It's, it's, Artem Kochev, Kochev, Benjamin Hilgenstock, Jeremy Morris Organizations: Service, Kremlin, Business, International Institute for Strategic Studies, Royal United Services Institute, Vienna Institute for International Economic Studies, Kommersant, Kyiv School of Economics Institute, Bloomberg, Russian Armed Forces, Aarhus University Locations: Russia, China, India, Ukraine, Moscow

☆ Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years
▼ + stars: | 2024-09-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The matrix of individual officials' expectations pointed to another full percentage point in cuts by the end of 2025 and a half-point in 2026. In all, the dot plot shows the benchmark rate coming down about 2 percentage points beyond Wednesday's move. On core inflation, the committee took down its projection to 2.6%, a 0.2 percentage point reduction from June. In fact, the last time the monthly hiring rate was this low – 3.5% as a share of the labor force – the unemployment rate was above 6%. At his press conference following the July meeting, Powell remarked that a 50 basis point cut was "not something we're thinking about right now."

Persons: Michelle Bowman, Jerome Powell, Powell Organizations: WASHINGTON, Federal Reserve, Market, Dow Jones, Fed, Gross, Atlanta Fed

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