Tag Archives: unemployment

New York — When 41-year-old Emily Groveman is not volunteering at a New York City animal shelter, she’s usually in her one-bedroom apartment looking for a job.   “It’s been impossibly difficult,” Groveman told CBS News. “It’s been almost two years.”  For almost a decade, she worked in hospitality with the NBA. “All the swag tickets to parties, back of …

Powell Signals Another Cut as Weak Hiring Pressures Unemployment  Bloomberg.com Fed’s Powell suggests tightening program could end soon, opens door to rate cuts  CNBC Powell Keeps Fed on Track to Lower Rates Again  The Wall Street Journal Fed’s Powell says economy may be on firmer footing, but job market weak  Reuters With inflation and jobs in ‘tension,’ Powell warns of the Fed’s tightrope on …

The worrying kink in this job openings, unemployment curve  Axios Source link

Tech leaders have been quick to squash claims that their AI firms could one day cause significant unemployment. But Goodwill’s CEO Steve Preston says it’s already happening. The charity, which has over 650 job centers, saw over 2 million people use its employment services last year—and it’s getting ready for even more. “We are preparing for a flux of unemployed …

Graph showing recent rise of long-term unemployment [Photo: US Bureau of Labor Statistics] The number of long-term unemployed in the United States has reached levels not seen since the early stages of the COVID-19 pandemic, according to data released last week by the US Bureau of Labor Statistics. In August, more than 1.9 million had been out of work six …

Long-term unemployment at post-pandemic high, straining workers and economy  The Washington Post Source link

Fraudulent Texas unemployment filings caused spike in national data  Axios Jobless Claims Rose Sharply Last Week  The Wall Street Journal Fed seen on track for rate cuts as job worries eclipse inflation fears  Reuters The number of Americans filing for jobless benefits last week hits 263,000, most in nearly 4 years  AP News Jobless claims reach highest level since 2021, a sign layoffs are …

Inflation Ticks Up to 2.9%, but Fed Rate Cut Seems Assured as New Unemployment Claims Surge  Realtor.com Consumer prices rose at annual rate of 2.9% in August, as weekly jobless claims jump  CNBC Inflation: boiling the frogs  Financial Times CPI Shows Pace of US Inflation Likely to Keep Fed Cautious on Rate Cuts  The New York Times Double whammy for Americans: Inflation continues to …

‘Godfather of AI’ says the technology will create massive unemployment and send profits soaring — ‘that is the capitalist system’  MSNView Full Coverage on Google News Source link

Geoffrey Hinton, widely known as the “godfather of artificial intelligence (AI),” has issued a stark warning about the economic fallout of rapid AI development. In a recent interview with the Financial Times, Hinton said that while AI will drive up corporate profits, it will likely do so at the cost of human jobs, leading to widespread unemployment. “What’s actually going …