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Matthew Fox Wed, May 11, 2022, 7:45 AM·3 min read Traders work the floor of the New York Stock Exchange (NYSE) Traders work the floor of the New York Stock Exchange (NYSE)David Dee Delgado/Getty Images An economic recession would send the S&P 500 another 25% lower to 3,000, according to DataTrek Research. DataTrek believes the Fed is trying to drive a slowdown in job growth to contain rising inflation. Slowing job growth could cascade into a recession, but for now the S&P 500 is proving resilient. The stock market could fall another 25% if interest rate hikes from the Federal...

President Joe Biden sounded a dark note on the future of the economy Friday, after a bleak jobs report came out. The United States economy added 49,000 jobs in December with only 6,000 jobs in the private sector, according to the latest report released Friday morning. “At that rate, it’s going to take ten years to get back to full employment,” Biden said. “That’s not hyperbole, that’s a fact.” The president spoke while meeting with House Speaker Nancy Pelosi and House Democrats in the Oval Office to discuss his $1.9 trillion coronavirus spending plan.

A healthy dose of job growth has long been seen as a likely cure for poverty. But new research suggests that poor Americans are frequently left behind even when their cities or communities benefit from hiring booms. When such cities as Atlanta and Charlotte enjoyed a job surge in the 20 years that began in 1990, for example, the job gains mostly bypassed residents — often African-American — who had been born into poverty. That is among the findings of a study led by Raj Chetty, a Harvard economist whose newly launched Opportunity Atlas found no association between job growth...

"This $12 billion investment program is an outgrowth of the opportunity for tax savings created by the Tax and Jobs Act," said David Abney, UPS Chairman and Chief Executive Officerbs Act.. "We will increase network investments and accelerate pension funding to strengthen the company for the long term, so that we maximize the benefit to our global customers, employees and shareowners." UPS also recently made a $5 billion tax-qualified contribution to the company's three UPS-sponsored U.S. pension plans. This represents about $13,000 per participant. The voluntary contribution raised the funding level to above 90-percent, securing retirement benefits on behalf of...

The worlds biggest particleboard mill under construction in Grayling Michigan

Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that December was a very good month for jobs. FTE* employment rose by 481,000. This complemented the unexpectedly large increase of 292,000 in payroll employment. Labor force participation edged upward in December, providing welcome relief from the relentless slide of this important indicator that has occurred during the Obama years. Unfortunately, December's numbers may very well be the last hurrah for jobs, as the economy slips into recession. It is worrisome that the Dow Jones Industrial Average fell by 2.23% during 2015, after rising during each of the...

Will tonight’s GOP presidential campaign debate in Colorado be more about staging political theatre, catchy soundbites, and media analysts focused on who has the “gotcha” moment? Or will this debate actually produce a substantive discussion of economic and regulatory policies that could actually help our nation’s economy grow? Sadly the ramp up discussion to this next GOP debate has been more about who can trump Trump than a discussion of who has the best ideas to reviving a lagging U.S. economy or which candidate has the best plan for job creation. Tonight’s debate is supposed to focus on improving the...

Routine One of the biggest wastes of time imaginable is to read news stories about what’s expected in upcoming economic reports. Late last week, we were regaled with stories about how economists were expecting news of robust job growth, and how this would be followed by serious consideration on the part of the Federal Reserve Board to finally raise interest rates—which have been kept artificially low for years in the hope of spurring job growth. But as is so often the case, the reality didn’t meet the expectations. Job growth stumbled again, with only 142,000 nonfarm jobs added to payrolls...

The recent spate of softening economic indicators continues today with the ADP employment report for March. Private-sector job growth came to 189,000, the lowest result in more than a year, and the manufacturing sector dropped for the first time in 14 months:CLICK ABOVE LINK FOR THE VIDEO Private sector employment increased by 189,000 jobs from February to March according to the March ADP National Employment Report®. …Payrolls for businesses with 49 or fewer employees increased by 108,000 jobs in March, up from 103,000 in February. Employment among companies with 50-499 employees increased by 62,000 jobs, up from 57,000 the...

A new report by the Center for Immigration Studies (CIS) shows that the state with senators who both voted for the “Gang of Eight” immigration bill, which cleared the Senate in June, has 71 percent of its job growth going to foreign-born workers, including legal and illegal immigrants. Sens. Jeanne Shaheen (D-N.H.) and Kelly Ayotte (R-N.H.) both voted for Senate Bill 744, which CIS calculated would have roughly doubled the number of new foreign workers allowed into the country and would have given legal status to millions of illegal aliens already in the country had the legislation been passed by...

Against the interests of Michiganders, Governor Rick Snyder has signed a bill banning Tesla Motor’s direct-to-consumer automobile sales in the state.The original focus of House Bill 5606 was on determining how franchise-dealership fees are charged. Then, right before the vote, an amendment banning automobile sales directly to consumers was added by State Senator Joe Hune. This backhanded maneuver shielded the amendment from public comment and debate. Passed unanimously in the State Senate and with only one dissenting vote in the House, the “anti-Tesla bill” is an economic loss for Michigan. The state will miss out on tax revenue from sales...

The Center for Immigration Studies has released a report that should be political dynamite.  Since the year 2000, legal and illegal immigrants have taken all new jobs, while native-born Americans have suffered a decline in the numbers employed. All of the net increase in employment went to immigrants in the last 14 years partly because, even before the Great Recession, immigrants were gaining a disproportionate share of jobs relative to their share of population growth. In addition, natives' losses were somewhat greater during the recession and immigrants have recovered more quickly from it. With 58 million working-age natives not working,...

Study: All Employment Growth Since 2000 Went To Immigrants By NRO StaffJune 26, 2014According to a major new report from the Center for Immigration Studies (CIS), net employment growth in the United States since 2000 has gone entirely to immigrants, legal and illegal. Using data from the Bureau of Labor Statistics, CIS scholars Steven A. Camarota and Karen Zeigler found that there were 127,000 fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level. The rapidity with which immigrants recovered...

The rank-and-file retail workforce has never been through an employment drought like the kind seen in the past two years, outside of a recession or its immediate aftermath. While retail-industry woes are a regular news staple, the sector's addition of 308,000 nonmanagerial jobs from December 2011 to December 2013 — before severe winter weather began skewing economic data — has provided the appearance of a recovery in payrolls. Yet that increase was offset by a slide in the average workweek to 30 hours from 30.7 hours. In fact, total hours clocked by nonsupervisors didn't budge in that two-year span, Bureau...

U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact. Nonfarm payrolls rose only 74,000 last month, the smallest increase since January 2011, and the unemployment rate fell 0.3 percentage point to 6.7 percent, the Labor Department said on Friday. The unemployment rate was the lowest since October 2008 and in part reflected people leaving the labor force. The step back in hiring is at odds with other employment indicators that have painted an upbeat picture of the jobs...

Barack Obama's presidency is falling apart, as a growing number of Americans now realize his promises of prosperity and jobs were bogus and his health care law a fabric of lies. A president who promised hope and change has given us despair and a failed,1930s agenda, as a once-mighty economy continues to limp toward the end of its fifth year in "recovery" -- yet with no full, lasting recovery in sight. Twelve months ago, a majority of voters handed him a second term. This week, the Gallup Poll reported that a 54 percent majority disapprove of the job he's doing...

Manufacturing jobs in the U.S. appear to be coming back—if ever so slightly. Several American firms, including Caterpillar, GE and Ford, have announced they're shifting some manufacturing operations back to the United States, mainly because of increasing production and energy costs overseas. And since January of 2010, the United States has added 520,000 manufacturing jobs, according to the Bureau of Labor Statistics. There are currently 12 million manufacturing jobs on record in the United States. But the U.S. is clearly in catch-up mode.

The Senate Budget Committee Republican staff under Ranking Member Jeff Sessions (R-Ala.) on Thursday released a chart that should have you worried: “The numbers reflect the change in the total number of people employed and the total number of people on the two largest federal welfare programs, as well as Social Security Disability Insurance, between 2008 and 2012,” the senator’s report explains. “The employment figure was derived using the total nonfarm and seasonally adjusted number of people employed in December of 2008 (134.4 million) and the number of people employed in September 2012 (133.5 million) as reported by the Bureau...

The private sector created 209,000 jobs in March, continuing the slow but steady rise in employment that has characterized the employment market for months. Services again led the job creation, according to a report from ADP and Macroeconomic Advisors. The service sector increased 164,000 in March, though the rate of job creation slowed a big from the upwardly revised 183,000 in February. "It's got to go this way," Joel Prakken, chairman of Macroeconomic Advisors, told CNBC. "Early in the recovery you normally see a pop in manufacturing employment, but that sector no longer counts for enough of the total employment...

Recent reports have Rick Perry mulling a late-August entry into the presidential race, a move that other aspirants have to dread. If he’s like most Texans these days, Perry will find the job before anyone else. USA Today reports on the state’s job-creation record that shows that Texas created half of all new jobs in the last two years: Finding work may not be quite that simple, but it sure seems that way. While the nation’s job growth has limped along since the economic recovery began two years ago, the Lone Star State is enlarging payrolls in Texas-size fashion.From June...