The nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
All told, the September jobs report is likely to keep the Federal Reserve on track to cut interest rates later this month for the third time this year to try to help sustain the expansion.
With signs of a weakening economy spreading and financial markets gyrating, Friday’s monthly jobs report will be watched for any evidence that the turmoil might be threatening the critically important U.S. job market.
September marked the worst month for U.S. manufacturing in more than a decade—since June 2009—according to the closely watched Institute for Supply Management’s Manufacturing Index.
In the midst of the longest economic expansion the United States has ever seen, the separation between rich and poor from 2017 and 2018 reached its highest level since the Census Bureau started tracking it in 1967.
The April-June increase in the gross domestic product, the economy’s total output of goods and services, slipped from a brisk 3.1% gain in the first quarter.
The trade war with China and a global slowdown have contributed to uncertainties that are clouding the outlook for the U.S. economy, now in its 11th year of expansion.
Should the recovery take weeks or months, the impact could be far-reaching. Higher fuel prices can not only motivate consumers to cut spending elsewhere but also ultimately reach into virtually every corner of the economy.
Figures released Friday showed August retail sales advanced more than forecast, while consumer sentiment rebounded from an almost three-year low.
Government figures show that after more than a decade of economic growth—the longest expansion on record—Americans are finally earning what they did two decades ago once inflation is taken into account.
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.
The Labor Department’s monthly jobs report showed that the unemployment rate remained 3.7%, near the lowest level in five decades. And average hourly pay rose 3.2% from a year earlier, outpacing inflation and lifting Americans’ spending power.
Two key indicators—hiring for temporary-help positions and weekly working hours—have declined this year even as unemployment has remained near a half-century low.
U.S. businesses added a healthy 195,000 jobs last month, a sign companies are still hiring at a brisk pace despite the ongoing trade war with China.
U.S. consumer spending grew 0.6% in July, a healthy gain that suggests American shoppers are largely ignoring concerns about trade tensions and driving the economy forward.
Orders for transportation equipment powered the overall gain, rising 7%, the category’s strongest month in almost a year.
The Pittsburgh-based company says the East Chicago plant was underutilized because low-priced imports have captured roughly half of the U.S. tin products market.
President Donald Trump on Friday called on U.S. companies with operations in China to consider an alternative place to do business after Beijing announced a series of retaliatory tariffs Friday.
Bigger cracks are forming across America’s manufacturing foundation after lackluster global demand and persistent trade tensions led to the first contraction in U.S. factory activity since September 2009.
President Donald Trump also knocked down the idea of indexing to the capital gains tax, which applies when investors sell assets, to inflation.
