5m ago Diesel hits an all-time high as U.S. gas prices surge ahead of Labor Day weekend U.S. gas prices surged ahead of Labor Day weekend, with diesel hitting a record of $5.85 a gallon Friday, eclipsing its prior mark of $5.81, set in June 2022. The AAA has predicted that travelers will face…
When a heat dome descended on Minnesota in mid-July, Duluth-based Canal Park Brewing Company had its air conditioning blasting. Then it cut out. Faced with sweltering conditions, the business was forced to close for the day and halt outdoor patio service for three days to protect its servers from the soaring mercury. “Where we are…
Inflation eased for the second consecutive month, rising at a 3.4% annual pace in July, in line with economists’ expectations and a signal that some price pressures may be easing. By the numbers Economists polled by the financial data firm FactSet predicted July inflation rose at an annual rate of 3.4%. Oil prices surged in…
U.S. Immigration and Customs Enforcement officers may soon be outfitted with gloves that can deliver painful electric shocks intended to gain compliance from combative individuals. ICE plans to spend between $10 million and $20 million to purchase “conductive distraction and de-escalation devices” for officers and agents by March, according to a notice published Monday by…
What a difference a day can make for monetary policy. On Thursday, interest rate futures were decidedly tilted toward the Federal Reserve hiking its benchmark rate in September, according to CME FedWatch, which tracks traders to forecast the central bank’s policy decisions. But after Friday morning’s dismal July jobs report, which showed that employers unexpectedly…
The U.S. economy unexpectedly shed 23,000 jobs in July, undershooting economists’ expectations and signaling the job market may be slowing. By the numbers Economists polled by FactSet forecast employers added 95,000 jobs in July. The unemployment rate in July stood at 4.1%, down from 4.2% in June. The Labor Department also revised down the May…
Layoffs across the U.S. in July fell to their lowest level in two years, new data shows, a sign that the labor market remains resilient despite the impact of inflation driven by the Iran war and artificial intelligence. Employers announced 33,429 job cuts in July, down 46% from a year ago, according to outplacement firm…
The nation’s gross domestic product grew at an annual rate of 1.5% in the second quarter, the Commerce Department said Thursday, weaker than economists expected and a sign the Iran war is hurting growth. Economists polled by Reuters predicted GDP would rise at an annualized rate of 2.1% for April to June. GDP measures the…
The Consumer Price Index rose 2.4% in January from a year ago, below economists’ forecasts and a sign that price pressures across the U.S. are easing. By the numbers The CPI was expected to rise 2.5% on an annual basis last month, according to economists polled by financial data firm FactSet. The January CPI represents…
