U.S. economy

Construction workers prepare steel for a crane at the site of JPMorgan Chase's new headquarters in New York City on May 18, 2023. Builders added jobs this month despite the headwinds from higher interest rates. It was another indication of the country's strong job market.

Economy

Amazingly, the U.S. job market continues to roar. Here are the 5 things to know

6:01am June 03, 2023

by Scott Horsley

Employers added a whopping 339,000 jobs last month, a stunningly strong number. Here are some of the key takeaways of the country's red hot labor market.

Queue Listen Now

A customer walks by a "now hiring" sign posted in front of a store in Novato, Calif., on April 7, 2023.

Economy

In a surprise, the job market grew strongly in April despite high interest rates

10:54am May 05, 2023

by Scott Horsley

The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.

A customer waits to order food at a Miami McDonald's on July 26, 2022. The CEO of McDonald's expects the U.S. to experience a mild recession and says customers have grown more reluctant to splurge on or supersize their orders.

Economy

The U.S. economy is losing steam. Bank woes and other hurdles are to blame.

8:43am April 27, 2023

by Scott Horsley

The country's GDP growth is slowing as banks cut back on credit and the Federal Reserve tries to crack down on inflation.

Queue Listen Now

A call for employment sign is displayed at a Taco Bell in Austin, Texas, on March 10, 2023. The labor market is slowing as higher interest rates start to filter through the economy.

Economy

The job market is cooling as higher interest rates and a slowing economy take a toll

11:14am April 07, 2023

by Scott Horsley

U.S. employers added 236,000 jobs in March as hiring slowed from the previous month. Unemployment dipped to 3.5%, from 3.6% in February.

A security guard looks out a door as customers line up at Silicon Valley Bank headquarters in Santa Clara, California on March 13, 2023.

Economy

SVB collapse could have ripple effects on minority-owned banks

2:29pm March 28, 2023

Four minority founders reflect on the health of minority-owned banks in the U.S. following the sudden collapse of SVB.

Why should you care about the knotty problems of the banking world? Below are a few possible consequences to watch.

Could the banking turmoil affect you? 5 ways it might

3:22pm March 21, 2023

by Alina Selyukh

There are possible consequences for regular people, small businesses and the economy.

Shoppers browse at a grocery store in Washington, D.C. Retail sales dipped in February after surging in the previous month.

The unexpected American shopping spree seems to have cooled

8:52am March 15, 2023

by Alina Selyukh

Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.

A security guard at Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. The Fed will now need to factor in the impact of the collapse of the lender, along with Signature Bank, as it makes its next decision on interest rates.

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

4:24pm March 14, 2023

by Scott Horsley

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

Zoom CEO and founder Eric Yuan speaks before the Nasdaq opening bell ceremony in April 2019. The company saw rapid growth during the pandemic but is now laying off about 15% of its workforce.

National

Zoom is the latest tech firm to announce layoffs, and its CEO will take a 98% pay cut

1:50pm February 08, 2023

by Rachel Treisman

Zoom, a hallmark of pandemic life, is laying off some 1,300 employees, or about 15% of its workforce. CEO Eric Yuan said he and other executives will take pay cuts and forgo bonuses.

A 'help wanted' sign is displayed in a window of a store in Manhattan, New York City, on Dec. 2, 2022. U.S. employers added an unexpectedly strong 517,000 jobs in January, showcasing the labor market is red-hot. The unemployment rate fell to its lowest level in more than half a century.

U.S. employers added 517,000 jobs last month. It's a surprisingly strong number

10:27am February 03, 2023

by Scott Horsley

U.S. employers added 517,000 jobs in January, as the unemployment rate fell to 3.4% . The job market remains tight, despite signs of a slowing economy.