The latest jobs report released by the Bureau of Labor Statistics showed that the US economy added 224,000 jobs in June, surpassing economists’ expectations. Despite fears of a slowdown, the labor market continues to plow ahead at a steady pace.
Wells Fargo’s Chief Economist Erik Nelson sat down for an exclusive interview to provide insights on the current economic landscape, touching on topics such as the possibility of a recession, the potential for future Federal Reserve rate cuts, and the state of the labor market.
The German labor union Ver.di has called on Lufthansa ground staff to go on strike at seven major airports across the country on Tuesday. The union is urging employees to walk off the job in a bid to protest over pay and working conditions.
Amazon has joined SpaceX and Trader Joe’s in a fight to declare the government labor board unconstitutional. The e-commerce giant has taken a bold stance against what it sees as government overreach, joining forces with other companies to challenge the authority of the National Labor Relations Board.
In a surprising move, retail giant Amazon has joined forces with aerospace company SpaceX in their battle against the U.S. National Labor Relations Board (NLRB), seeking to declare the labor board unconstitutional. This unexpected alliance showcases the growing concerns among corporations regarding the regulatory power of the NLRB.
Despite a resilient US labor market and a hawkish Federal Reserve, gold managed to maintain its ground and even thrive in the current economic climate. As the US economy continues to show signs of strength, investors are increasingly turning to gold as a safe haven amid uncertainty.
The U.S. labor market continues to gain momentum, as reflected in the recently released January jobs report. With strong job gains and a declining unemployment rate, the American economy is showing no signs of slowing down.
Despite assertions from economists that the labor market is strong, many job seekers remain unconvinced about the available opportunities. This lack of confidence can be attributed to various factors and challenges faced by those actively seeking employment.
*In a bold move, entrepreneur and Tesla CEO Elon Musk has filed a lawsuit against the government, seeking to prevent the enforcement of certain labor laws. There is now a chance that the highest court in the land, the Supreme Court, might side with him in this contentious legal battle.*
Chinese electric vehicle (EV) manufacturer BYD is all set to enter the European market, sending shockwaves across the industry. However, the company may face challenges due to high labor costs, connectivity issues, and the loyalty of customers to other brands.
