Tag #Us Economy

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Port Operators and Union Avert Strike with New Contract

East and Gulf Coast port operators and the International Longshoremen's Association (ILA) reached a tentative agreement on a new six-year contract on Wednesday evening, averting a strike set for January 15, resolving a labor dispute that threatened to halt shipments for a second time in three months...

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bbc.com
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Global Economic Growth Slows Amidst Rising Trade Protectionism

The IMF projects 3.2% global economic growth in 2025, but a potential Trump presidency and its threatened tariffs on key trading partners like China and Mexico pose significant risks to global economic stability, potentially disrupting supply chains and increasing inflation, as analysts warn.

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forbes.com
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Record U.S. Job Cuts in 2024 Amidst Technological Advancements and Economic Uncertainty

U.S. companies announced over 1.5 million job cuts in 2024, a 15-year high excluding 2020, driven by rapid technological advancements and economic shifts; the technology sector led with 133,988 job losses, while government job cuts surged 1,520% due to military reductions.

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us.cnn.com
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US Job Growth Cools in 2024, Raising Concerns for 2025

US job growth cooled in 2024 to roughly 180,000 jobs per month, unemployment stayed near historic lows at 4.2%, but hiring activity dropped to a decade low, raising concerns about 2025 due to potential policy changes and industry-specific growth.

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forbes.com
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Dockworkers Resume Negotiations To Avert Potential Strike

East Coast and Gulf Coast dockworkers are set to resume negotiations on January 15 to avoid a potential strike that could cost the U.S. economy billions of dollars per week and affect retail profitability; the previous three-day strike in October ended with a tentative agreement on pay.

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cnbc.com
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LinkedIn's Top 10 Fastest-Growing US Jobs in 2025

LinkedIn's 2025 Jobs on the Rise report identifies Artificial Intelligence Engineer and Consultant as the top two fastest-growing occupations in the U.S. between January 2022 and July 2024, driven by increased AI adoption and the post-pandemic rebound in travel and live events.

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edition.cnn.com
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East Coast Port Strike Averted by Tentative Labor Deal

The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) reached a tentative six-year contract on January 15, averting a strike that would have crippled US East and Gulf Coast ports, resolving disputes over automation and wages with a deal that includes a 62%...

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forbes.com
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Medical Debt Removal from Credit Reports

The Biden administration finalized a rule to remove an estimated $49 billion in medical debt from the credit reports of about 15 million Americans, impacting credit scores and loan decisions, starting in 2025.

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nbcnews.com
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Used Vehicle Prices to Stabilize in 2025

Cox Automotive forecasts used vehicle wholesale prices to increase by 1.4% in 2025, stabilizing after significant drops following pandemic-inflated prices; the average listing price in December was $25,565, down 3% year-over-year; used vehicle sales are expected to increase by 1% to 37.8 million in ...

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theglobeandmail.com
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U.S. Stock Futures Rise Despite Inflation Concerns

U.S. stock futures rose slightly on Wednesday morning, boosted by anticipation of economic data and Fed meeting minutes, but concerns about inflation persist after Tuesday's market decline due to robust job growth and services activity. The 10-year Treasury yield hit an eight-month high, while inves...

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abcnews.go.com
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IRS Improves Taxpayer Service Despite Backlogs, Budget Threats

The IRS has improved taxpayer services thanks to the Inflation Reduction Act, but still faces significant backlogs in identity theft (22-month delays) and ERC claims (1.2 million pending), impacting taxpayers and businesses; budget cuts threaten further progress.

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abcnews.go.com
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Asian Markets Dip Despite Positive US Economic News

Asian markets fell Wednesday, mirroring Wall Street's decline despite positive U.S. economic data; rising bond yields, driven by strong economic reports and reduced rate-cut expectations, and concerns about future U.S. policies, caused the downturn.

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