The US economy added 223,000 jobs in June, and the unemployment rate fell to 5.3 percent. While factors like slow wage growth and low participation remain a concern, hopeful long-term prospects for workers were given an extra boost by President Obama and the Labor Department this week.
President Obama and the Labor Department unveiled a plan this week to make at least 5 million additional salaried workers eligible for overtime pay. Pro-business lobbying groups are denouncing the changes, but economists argue that better overtime pay rules will benefit businesses and workers alike.
General Mills will be removing artificial colors and flavoring from its cereal products, the company announced Monday. The announcement comes as US consumers turn away from cereal in favor of options either more nutritious or more convenient.
Pizza Hut has confirmed that a line of its 'Hot Dog Bites Pizza' will be available in its 6,300-plus US locations starting next week. Wildly popular overseas, the entrée consists of a large one-topping pizza surrounded with 28 pigs-in-a-blanket.
Retail sales rebounded strongly last month, and a revised March posted the measure's biggest monthly gain in five years. The May retail sales result indicates that the strong job market finally is starting to bear fruit for the consumer economy.
The US economy added an impressive 280,000 jobs in May, and the unemployment rate hit 5.5 percent. Friday’s report, though undeniably encouraging, comes as the idea of employment, and what constitutes a traditional employer/employee relationship, is becoming more muddled.
Pending home sales, a measure of contracts that have been signed (but not finalized) for home purchases, climbed to a nine-year high in April. Combined with a surge in new home sales, the strong pending sales data bodes well for the months ahead.
Consumers’ calls for lower-impact ‘food with integrity’ have surged recently, and a set of recommendations from the US Dietary Guidelines Advisory Committee took food's role in the environment into account for the first time.
Janet Yellen said Friday that the Federal Reserve is still on track to raise rates later this year. She was cautious in her assessment of the job market, despite an unemployment rate nearing what many would consider full-strength.
Existing home sales fell to a 5.04 million annualized pace in April, even though homes sold at their fastest clip in nearly two years. The housing market is facing the same conundrum as other areas of the economy: things are improving, but not enough to translate into a change in the way most people live.
Gas prices tumbled to rarely seen lows in late 2014 and early 2015, leaving many Americans with a little more pocket money than usual – money that didn’t go to a new pair of designer shoes or paying down student debt.