Americans still opened their wallets last month, despite persistent fears about the economy, a slowing labor market and higher tariffs. Spending at US retailers rose 0.6% in August, the Commerce Department said Tuesday, unchanged from July’s upwardly revised 0.6%. Last month’s figure came in much better than economists’ expectations of a 0.2% increase, according to…
However, as more chatbots and automated assistants take over the duties of human roles, there’s a growing cohort of executives who see shorter workweeks on the horizon—and Zoom CEO Eric Yuan can even see staffers only clocking in a few days a week. “I feel like if A.I. can make all of our lives better,…
The electric vehicle company Tesla, led by billionaire Elon Musk, is reportedly being sued for favouring H1-B visa holders over Americans for employment in the company. According to the lawsuit, Tesla hires H1-B visa holders so it can pay them less. The complainant has accused Tesla of being dependent on the H-1B visa holders for…
Amid a broad slackening of the U.S. labor market, and in spite of campaign promises to save “Black jobs,” the unemployment rate for Black workers is surging under President Donald Trump. According to seasonally adjusted data published Friday by the Bureau of Labor Statistics (BLS), the unemployment rate for Black Americans rose from 7.2 percent…
The Department of Labor’s internal watchdog is launching a review of the Bureau of Labor Statistics’ (BLS) approach to collecting and reporting economic data. Laura Nicolosi, assistant inspector general for audit in the Labor’s Department’s Office of Inspector General, said in a September 10 letter to acting BLS commissioner William Wiatrowski that the watchdog will…
Danish pharmaceutical company Novo Nordisk, maker of weight-loss drug Wegovy, said Wednesday it is cutting 9,000 jobs, or 11% of its workforce, amid increased competition for obesity medications. The company said it will cut about 5,000 jobs in Denmark, although it didn’t disclose where the remaining 4,000 reductions will be located. Novo Nordisk also makes…
The U.S. labor market added 911,000 fewer jobs in the 12-month period that ended March 2025 than had earlier been reported, the Bureau of Labor Statistics said on Tuesday. The major downward revision signals that the labor market was slowing more last year than had earlier been reported. The so-called preliminary benchmark revision, produced annually…
The latest jobs report points to a labor market that’s faltering, but the slowdown may have begun much earlier. Economists expect the Bureau of Labor Statistics tomorrow to issue a major downward revision, showing the nation added hundreds of thousands fewer jobs than first reported. On Sept. 9, the BLS will release its preliminary benchmark revision…
Hedi Slimane took to Instagram this weekend with a pointed note that is stirring chatter across the industry. In an Instagram story on Saturday, the cult-favored architect of skinny tailoring and the high-fashion rock-and-roll uniform revealed that he is “convinced – and rejoicing in advance – that Celine will brilliantly reinvent itself” with a fresh…
The S&P 500 Index retreated from Thursday’s record as declines in Nvidia Corp. and other tech megacaps offset a rally in Broadcom Inc. that had earlier led tech and chip stocks higher. The S&P 500 fell 0.3% after hitting an intraday record early in the session. The Nasdaq 100 Index rose 0.1%. A gauge of…