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Employers in the US added more than 300,000 jobs last month - the biggest gain in almost a year - as the boom in the world's largest economy continued. The jobless rate fell to 3.8%, as most sectors, including health care, construction and the government added roles, the Labor Department said. It marked another month of stronger-than-expected growth. Economists had forecast job gains of about 200,000. Analysts said the strong figures could delay cuts to US interest rates.

Migration cuts wages, Canada’s Prime Minister, Justin Trudeau, said Tuesday as he announced plans to trim his unpopular migration inflows that have forced his nation backward. “Increasingly, more and more businesses are relying on temporary foreign workers in a way that is driving down wages in some sectors,” Trudeau told reporters on April 2 as he announced plans to slightly reduce his mass migration that has imposed much poverty and chaotic diversity on Canadians. He continued: So we want to get those numbers down. It’s a responsible approach to immigration that conntinues on our permanent [immigration] residents as we have,...

Democrats in the state legislature want to scrap Gov. Kathy Hochul’s proposed cuts to education funding — and jack up taxes on New York’s highest earners. The state Senate’s wide-ranging response to Hochul’s budget proposal, released late Monday, also dashes New York City Mayor Eric Adams’ plea to extend his control over Big Apple public schools. The Senate’s proposal is a largely symbolic part of the process meant to scope out the parameters around which legislative leaders and the governor will hammer out the state’s budget behind closed doors in the coming weeks. Hochul’s $233 billion budget proposal released in...

Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, ... The $26 million for Fraser was the lowest among CEO rivals at JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley, who received between $29 million and $37 million. Bank of America's Brian Moynihan was the only CEO among this group to experience a compensation decline. ... Fraser had a lot...

Paramount Global, the parent company of CBS, is planning to cut hundreds of jobs just days after airing the most-watched Super Bowl in history, according to Tuesday reports. The job cuts will result in a reduction of the company’s workforce by about 3 percent, The Guardian reported, noting staff had been notified on the decision on Tuesday. “To those with whom we are parting ways, we are incredibly grateful for your hard work and dedication,” Bob Bakish, Paramount’s top executive wrote in an internal memo obtained by the outlet. “Your talents have helped us advance our mission of unleashing the...

UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. The company also announced 12,000 layoffs as part of an effort to align resources in 2024. The workforce reductions will save the company about $1 billion in costs, CEO Carol Tomé said on a company earnings call. “2023 was a unique, and quite candidly, difficult and disappointing year. We experienced declines in volume, revenue and operating profits and all three of our business segments,” Tomé said. Shares of the package giant dipped 8% in early trading.

Google has laid off over a thousand employees across various departments since January 10th. CEO Sundar Pichai’s message is to brace for more cuts. “We have ambitious goals and will be investing in our big priorities this year,” Pichai told all Google employees on Wednesday in an internal memo that was shared with me. “The reality is that to create the capacity for this investment, we have to make tough choices.” So far, those “tough choices” have included layoffs and reorganizations in Google’s hardware, ad sales, search, shopping, maps, policy, core engineering, and YouTube teams. “These role eliminations are not...

Mayor Eric Adams’ administration is set to unveil its latest round of migrant belt-tightening on Tuesday — after rolling back several controversial budget cuts and promising the city’s library system will be spared further reductions. The mayor and his team are set to brief the City Council at around 1:30 p.m. and present the preliminary 2025 fiscal year budget, which has been expected to come with a 5% spending reduction at city agencies. The cuts would mark round two of three 5% slashes the mayor’s office has said are necessary to close the budget gap created by the migrant crisis...

During an interview with ABC News on Thursday, Denver Mayor Mike Johnston said that if the sanctuary city doesn’t get help from the federal government to deal with the financial impacts of the migrant influx in the city, the budget impact of dealing with migrants will be so large that they’ll have to cut the rest of their budget by about 10%, which would be a deeper cut than the cuts they made during the recession in the late 2000s and early 2010s. Johnston stated that he doesn’t know where he’d make cuts, but “We’re having that hard conversation with...

U.S. mortgage rates dropped below 7 percent for the first time since August, according to new data released Thursday by Freddie Mac. Mortgage rates have been falling steadily for the past seven weeks as inflation has eased, and the latest dip follows signs from the Fed on Wednesday that interest rates could come down next year. “Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Sam Khater, Freddie Mac’s chief...

The House of Representatives approved sending $14.3 billion in federal aid dollars to Israel in a 226 to 196 vote on Thursday, with 12 Democrats joining Republicans to pass it. Under the bill brought by House Republicans, that funding will be reallocated from money that was meant for the IRS in President Biden’s Inflation Reduction Act. Just two Republicans voted against the bill — Reps. Marjorie Taylor Greene, R-Ga., and Thomas Massie, R-Ky. Among the Democrats who voted in favor of it are Reps. Josh Gottheimer, D-N.J., Jared Moskowitz, D-Fla., Jared Golden, D-Maine, Debbie Wasserman-Schultz, D-Fla., and Lois Frankel, D-Fla....

President Joe Biden offered strong support to Israel this week after massive terror attacks by the Palestinian Hamas terror group, but said nothing about following President Donald Trump’s example of withdrawing funds that may have benefited terrorism. In fact, President Donald Trump was the first U.S. president to cut aid to the Palestinians because of concerns about subsidies that the Palestinian Authority (PA) pays to terrorists and their families — what critics have called the “pay to slay” program.

3:23 Virginia Gov. Glenn Youngkin (R) has closed down state-run Internet links that provided pro-transgender activists with direct and private access to vulnerable teenagers. The shut-down programs, according to the Washington Post, included: Queer Kid Stuff, a resource for children and families that launched its video series in 2016 with a piece exploring the question, “What Does Gay Mean?” and Q Chat Space, which offers live, facilitated chats for LGBTQ+ teenagers. Neither site requires adult permission to use, which some conservatives say they find troubling but LGBTQ+ experts say is essential for youth who need support and are not comfortable...

Major oil hubs Saudi Arabia and Russia announced new oil supply cuts, in what Saudi Arabia described as an attempt to “stabilize markets.” Saudi Arabia’s move was announced in the state-run Saudi Press Agency, which said that the kingdom will extend July cuts of one million barrels per day into August. For that month, Saudi Arabia is expected to produce 9 million barrels. The state news agency cited a source who described the cuts as having the goal of “supporting the stability and balance of oil markets.” The cuts could drive up oil prices, which is something oil producers like...

On Sunday’s broadcast of MSNBC’s “Velshi,” Rep. Debbie Dingell (D-MI) stated that she is “really” “annoyed” that there are cuts for new IRS workers in the debt ceiling agreement between President Joe Biden and House Speaker Rep. Kevin McCarthy (R-CA), but “there is nothing I can do about it,” people shouldn’t refuse to vote for the deal over it, and she doesn’t think the IRS provision is going to be “enough to make anybody vote against the bill.” Dingell said that while she can’t say how she’ll vote on the deal until she actually sees the text of a bill,...

On Thursday’s broadcast of the Fox News Channel’s “The Story,” Sen. Chris Coons (D-DE) said that a debt ceiling deal that is only about cuts to domestic spending “will be difficult, because, for many of us, investing in education, workforce, health care is important.” Host Martha MacCallum asked, “[I]sn’t it incumbent upon all of you to figure out a way to cut some spending? Clearly, there’s waste in government spending.” Coons answered, “Martha, there [are] two parts of balancing any budget…there’s revenue and there’s spending. And our challenge here is that the House Republican majority is determined to make the...

The White House ripped House Republicans for the debt ceiling legislation they passed last month, arguing spending cuts in the bill would be a “gut punch” to border agents. The bill would raise the debt ceiling, but also makes good on Republicans’ promise to cut spending. Democrats, who in the Senate have signaled they will not consider the House bill, have gone on the offense on the spending cuts. The White House dubbed the bill the “Default on America Act.”

We’ve written about the hypocritical nature of Joe Biden’s attacks on the Republicans over Social Security and Medicare, with the Biden administration targeting Medicare Advantage. Almost 50 percent of the people eligible for Medicare opt for Medicare Advantage, so anything that would affect the program could affect a lot of people.We reported back in February about how Biden got fact-checked by Twitter that month for lying about the Republicans. But that was particularly disgraceful, when he was proposing moves that could result in cuts to payments to Medicare Advantage insurers.The 2024 Medicare Advantage and Part D Advance Notice, released in...

Just days after Tesla executives announced plans to improve affordability of their electric cars, Tesla has marked down prices on two of its top end models. Reuters reported that the most recent price cuts are Tesla’s fifth time adjusting pricing since the start of the year, with the price drops ranging from 4 percent on the performance version of the Model S vehicle to 9 percent on the Model X vehicle. Reuters reported that Tesla dropped prices of both versions of the Model S by $5,000. According to Tesla’s website, the basic version of the Model S now costs $89,990...

The cloud software company Workday plans to cut hundreds of jobs as it lays off about 3 percent of its global workforce. The company told employees in a message on Tuesday that it decided to restructure and realign some teams across the company, leading to the layoffs, the majority of which will be those working on product and technology, according to a copy of the message from the Securities and Exchange Commission. The message said company leaders will meet with the affected employees and expect notifications to be completed by the end of the day Tuesday, Pacific Standard Time. “While...