Economy

First-Time Unemployment Claims Drop Below 200,000 for First Time Since May

The number of U.S. workers filing initial claims for unemployment assistance remained consistently above the 200,000 mark for the last 19 weeks. Until now. According to statistics released by the Labor...

Experts: Fed’s Rate Hike ‘Sharply Downgrades’ Economic Growth Projections

The Fed raised the federal funds rate target by 0.75 percentage points to a range of 3.00%-to-3.25% and signaled another 1.25 percentage points in rate hikes is likely by...

GM Investing $760 Million in Toledo Propulsion Plant for EV Drive Unit Production

GM will invest some $760 million in its Toledo facility for parts production in its electric truck fleet.

Expert: After Another Big Rate Hike, Fed Set to Push Economy into Recession to...

Fed's latest rate hike matched the expectations of economists as the fight against record inflation continues.

First-Time Unemployment Claims Rise for First Time in 5 Weeks

Maybe the adage should be, “What goes down must come up,” at least as it pertains to the weekly jobs report. After five weeks’ worth of modest declines, first-time claims...

Experts: Inflation Components Rising Faster Than Expectations

The Consumer Price Index (CPI) rose 0.1% in August, above market expectations for a decline of 0.1%. On an annual basis, CPI inflation eased to 8.3% from 8.5% in...

Fed Hikes Interest Rate 0.75% in Ongoing Battle With Inflation

The Federal Reserve on Wednesday raised its key interest rate 0.75% for a third straight time. It's the fifth rate hike of 2022, with a signal that more are coming.

Inflation Report has Negative Impact on Wall Street

This week’s inflation report showed that inflation isn’t slowing as much as economists had thought, and the stock market didn’t react well. U.S. stocks fell Tuesday as the inflation report...

Study: Younger Americans More Optimistic About Financial Future

CHICAGO (Globe Newsire) — The youngest generations continue to be more optimistic about their financial future in the next 12 months than their older counterparts. The latest TransUnion (NYSE:...

Biden Uses Auto Show Speech to Tout Accomplishments in EV Market

President Joe Biden visited the Detroit Auto Show Wednesday and announced $900 million worth of investments in electric vehicle charging stations across 35 states.

Late-Night Deal Nets Tentative Agreement to Avert Railroad Strike

A tentative agreement between railroad companies and their unions reached in the early hours of Thursday morning avoids a potentially crippling railway strike.

First-Time Unemployment Claims Take a Modest Dip to Three-Month Low

First-time claims for unemployment assistance dropped last week and now stand at their lowest level since the end of May.

Beaumont-Spectrum Announces It Will Lay Off 400 Workers

When Beaumont and Spectrum merged, officials said they expected no layoffs. This week, those officials confirmed the system would lay off 400 people.

Expert: August Jobs Report Lessens Likelihood of Fed Rate Hike

Economists at Comerica are saying the jobs report for August could lessen the likelihood of the Fed raising interest rates again.

Supply Chain Issues, Inflation Driving Up Costs, Stoking Recession Fears

The price of everything from gasoline to chicken has risen substantially, with record inflation leaving fears of a recession in its wake.

State, RDC Picked For $52.2 Million Mobility Grant Aimed at Auto Investment, Jobs for...

State gets $52.2 million federal grant aimed at advancing mobility and electrification leadership.

The Right Place Debuts Tech Strategy for Greater Grand Rapids Region

The Right Place has a 10-year strategy officials say will grow the Grand Rapids region into a major tech hub in the Midwest.

U.S. Economy Adds 315,000 Jobs in August

August wasn’t as good for the job market as July, but the economy once again exceeded the expectations of some economists last month. According to statistics released by the Labor...

First-Time Claims Drop as Unemployment Remains Low

Whatever else the economy is doing, none of it seems to be affecting the job market. Statistics released by the Labor Department showed that fewer Americans filed for first-time unemployment...

Manufacturers, Service Providers Report Decline in Business Activity

S&P Global’s Composite PMI slipped further into contractionary territory in the August flash estimate, falling to 45.0 from 47.7 in July. Both manufacturers and service providers reported declines in...
Click to access the login or register cheese