News

Labor and Employment

AP News | Equities.com |

Stocks ended with moderate losses Tuesday as investors waited for the first debate between President Donald Trump and Democratic challenger Joe Biden.

Banks, energy companies and stocks that depend on consumer spending had some of the biggest losses. The price of oil fell 3.2%, dragging much of the energy sector down with it.

Some technology stocks, which have long been the biggest driver of this year’s stock market moves, posted gains. Advanced Micro Devices closed up nearly 3% and Facebook rose nearly 2%. Twitter closed up 1.3%.


Reuters | Equities.com |

U.S. consumer confidence rebounded by the most in 17 years in September amid an improvement in labor market views, but it remained below levels that prevailed before the COVID-19 pandemic struck the nation early this year.

The surge in confidence reported by the Conference Board on Tuesday came despite a resurgence in new coronavirus cases in some parts of the country and government help for businesses and the unemployed drying up. Consumers also appeared to shrug off growing uncertainty ahead of the Nov. 3 presidential election and signs the economy’s recovery from the recession was slowing.


Reuters | Equities.com |

United Airlines' pilots voted on Monday to accept a deal that would avert 2,850 furloughs set for Thursday, while thousands of other U.S. airline employees are hoping Congress will extend federal aid to save their jobs.

An initial $25 billion government bailout that covered airlines’ payrolls and protected jobs for six months expires on Sept. 30, driving a fervent last-minute push by the industry for Congress to agree on a fresh stimulus package.


Reuters | Equities.com |

Target Corp said on Thursday it would double its staff for contactless services and hire more seasonal employees for distribution centers this holiday season, as consumers shop more online to avoid crowds during the COVID-19 pandemic.

The company, one of the retailers benefiting from the big shift to online shopping during the health crisis, said it expected seasonal hiring to be on par with last year, when it hired more than 130,000 store employees.

Consumer...


AP News | Equities.com |

The number of people seeking U.S. unemployment aid rose slightly last week to 870,000, a historically high figure that shows that the viral pandemic is still squeezing restaurants, airlines, hotels and many other businesses six months after it first erupted.

The figure coincides with evidence that some newly laid-off Americans are facing delays in receiving unemployment benefits as state agencies intensify efforts to combat fraudulent applications and clear ...


Reuters | Equities.com |

Even as dealmakers bicker over who will actually own TikTok Global, another question emerged after President Donald Trump agreed over the weekend to keep the wildly popular video-sharing app running in the United States for another week: how can they possibly create 25,000 new jobs in the United States?

That vow, repeated by the president on Saturday at a campaign rally in North Carolina, was part of a concession that dealmakers offered to convince Trump to green-light a transaction in which a new board comprised of U.S. citizens would oversee a new U.S.-based company and co-owned by Oracle Corp and Walmart Inc.


Reuters | Equities.com |

United Parcel Service Inc said on Thursday it was offering buyouts to some employees, as Chief Executive Carol Tomé aims to curb costs at the delivery firm.

“Aligning our talent with the needs of our company and customers is critical to becoming a stronger, more agile UPS,” a company spokesperson said in a statement.

The Wall Street Journal had earlier reported workers would leave in two phases - by the end of 2020 and mid-2021.


Reuters | Equities.com |

The way Federal Reserve Chair Jerome Powell sees it, the U.S. labor market has a long way to go to meet the central bank’s maximum employment goal and a lot of boxes to tick along the way.

In his most extensive effort to explain how the Fed will measure progress toward a goal prioritized last month under the Fed’s new framework, Powell was clear on Wednesday that he and other policymakers were not focused on any single number, such as the ...


AP News | Equities.com |

The number of Americans applying for unemployment benefits fell last week to 860,000, a historically high figure that reflects economic damage from the coronavirus outbreak.

Before the pandemic hit the economy, the number signing up for jobless aid had never exceeded 700,000 in a week, even during the depths of the 2007-2009 Great Recession. Now they’ve topped 700,000 for 26 straight weeks.

The Labor Department said Thursday that U.S. jobless claims fell by 3...


Reuters | Equities.com |

American Airlines Chief Executive Doug Parker and seven major airline unions on Wednesday made a new push to win additional government assistance to keep nearly 20,000 workers on the payroll past Oct. 1.

In a letter to congressional leaders, the White House and Treasury, Parker and the unions warned “nearly 20,000 American Airlines team members are facing furloughs in just two short weeks, and several markets in our domestic network are at risk of significant reductions in air service.”