Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Job Openings Sink to 2-Year Low
Job Openings Sink , to 2-Year Low.
On Aug.
29, the Department of Labor said that job openings dropped from 9.1 million in August to 8.8 million in July.
On Aug.
29, the Department of Labor said that job openings dropped from 9.1 million in August to 8.8 million in July.
That is the lowest number of job openings since March 2021, Fox News reports.
.
Economists had predicted
9.46 million available jobs.
.
But job openings are still historically high.
.
Prior to the onset of the pandemic
in 2020, the highest-recorded number
of job openings was 7.6 million.
.
The current numbers indicate that the
Federal Reserve's continuous interest
rate hikes are cooling the labor market.
.
Even though the newest figure was lower than anticipated, demand for employees is still seemingly outpacing the number of available workers.
.
Cooling the demand for labor
has been one of the Fed’s top
priorities since it began its
rate hike campaign last year, Tuan Nguyen, an economist at RSM, via Fox News.
Although vacancies remained above the pre-pandemic level, the rapid unwinding of labor demand should add more reasons for the Fed to consider holding rates at the current rate
until the end of the cycle, Tuan Nguyen, an economist at RSM, via Fox News.
Meanwhile, the number of Americans leaving their jobs dropped to 3.5 million, indicating that employees are still confident that they can find better work elsewhere.
Surge of New Applications for , Unemployment Benefits , May Signal Cooling Job Market.
Last week, the number of people in the
United States filing for unemployment benefits
reached the highest level in ten months last week. .
ABC reports that the news comes as a potential
sign that the U.S. labor market may be slowing
under the burden of high interest rates. .
The week ending June 8 saw
applications for jobless benefits
rise by 13,000 to reach 242,000. .
According to Labor Department
data, that is up from 229,000 new
applications the week before.
The number also represents the highest
number of new applications since August
of 2023, while also being significantly higher
than the 225,000 new claims forecast.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
Since March of 2022, the Federal Reserve has raised
benchmark rates 11 times in an attempt to reign in
inflation which has risen to a four-decade high.
While the latest data suggests that consumer
inflation cooled in May, the Federal Reserve
has decided to leave rates at a 23-year high.
According to Fed Chair Jerome Powell, officials
are waiting for more evidence that prices
are reaching their target of two percent.
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1. .
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1.
Credit: Wibbitz Top Stories Duration: 01:30Published
Speaking in the Oval Office, Biden said passions were running high on both sides and the stakes of the election were enormous but that violence was not the answer, adding "We can do this".
Credit: euronews (in English) Duration: 02:23Published
In a critical prime-time address, President Joe Biden urges Americans to reject political violence and resolve their differences peacefully following the attempted assassination of former President Donald Trump. Highlighting the importance of civility in political discourse, Biden calls for unity and condemns the normalization of violence. Watch his powerful message and join the discussion on how we can heal as a nation.
#BidenSpeech #RejectViolence #Unity #TrumpAssassinationAttempt #PoliticalDiscourse #AmericanDemocracy #DonaldTrumpAssassination
President Joe Biden's asking Americans not to jump to conclusions about the man who shot Donald Trump ... urging people not to make assumptions about his.. TMZ.com
Middle-Aged Americans Are, Underprepared for Retirement, , Study Finds.
'Newsweek' reports that people in the United States
who are approaching retirement age may be critically
underprepared when it comes to their savings.
According to Prudential Investments, Americans around
the age of 55 are facing a "midlife retirement crisis,"
lacking the funds for a comfortable post-working life. .
A recent survey by the major insurance
provider found the average retirement
savings of a 55-year-old to be $47,950. .
This falls significantly short of the recommended
goal of having eight times a person's annual
income saved by the time they reach 55. .
According to the survey, 57% of 55-year-olds
said they expected to outlive the funds
they have currently managed to save.
That's compared to 59%
of 65-year-olds and
52% of 75-year-olds.
The survey also found that one-third of 55-year-olds
and 43% of 65-year-olds have already been forced
to postpone retirement due to inflation.
Attention today is rightly centered on
the approximately 11,000 65-year-olds
entering retirement every week, but we
must also focus as an industry on the
opportunity to help a slightly younger
generation of workers entering the
critical 10-year countdown to retirement, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'.
Further, the financial futures
of certain cohorts—such as
women—are especially precarious, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'.
The upside is that, with the right
planning and strategy to protect
their life's work, we can ensure
this generation is well-prepared
to live not only longer, but better, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
Discover what hypergamy is and why it's becoming popular in modern dating. Learn how this trend impacts relationships and personal aspirations, based on insights from a recent survey of 2,000 Americans.
#Hypergamy #ModernDating #RelationshipGoals #DatingTrends #PersonalAspirations #AmericanCouples #AmericanYouth
Fox News reporter Peter Doocy and White House Press Secretary Karine Jean-Pierre clashed over President Biden's plan to limit events after 8 PM. Doocy sarcastically questioned late-night decision-making, while Jean-Pierre insisted Biden was joking. The exchange highlighted tensions between the press and the White House. Biden's campaign team defended his schedule, comparing it to previous presidents and contrasting it with Trump's habits.
#FoxNews #PeterDoocy #KarineJeanPierre #WhiteHouse #WhiteHousePressBrief #WhiteHousenews #USnews #Biden #JoeBiden #Oneindia #Oneindianews
~HT.178~PR.320~ED.101~GR.124~
Spinach Recalled , After Testing Positive for Listeria.
Over 40 spinach products are being recalled after testing positive for the bacterial illness, according to federal health officials. .
The recall for "Fresh Spinach" was issued by
Solata Foods LLC in New York, Fox News reports. .
The spinach was tested by the New York State Department
of Agriculture and Market Food Inspectors.
Listeria was found in a "9-ounce package of Bogopa fresh spinach," Fox News reports. .
Production of the product has been halted.
Consumers are being advised to
return the affected product for a refund. .
No illnesses have been reported yet.
People who consume listeria can
develop listeriosis, which ranges in
severity and can last up to several weeks.
Symptoms include "fever, muscle aches, nausea, vomiting, and diarrhea," Fox News reports.
Serious cases can result in "headache, stiff neck, confusion, loss of balance and convulsions," Fox News reports.
The bacterial infection can be fatal in
children and other susceptible people.
Credit: Wibbitz Top Stories Duration: 01:31Published
Boycotts Lead SXSW to, Drop US Military Sponsors, for 2025 Festival.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
After careful consideration,
we are revising our sponsorship
model. As a result, the U.S. Army,
and companies who engage in
weapons manufacturing, will
not be sponsors of SXSW 2025, SXSW statement, via Fox News.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
The group called for a boycott of SXSW
over the organization's ties to the U.S. military
and weapons-manufacturing companies. .
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
We appreciated the opportunity
to join South by Southwest in 2024.
With U.S. Army Futures Command
headquartered in Austin, we value
any opportunity to join with our
community to ignite discovery
and make new connections. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
The Army will continue to
seek opportunities to meet
technology innovators and
leaders, explore new ideas
and insights, and create dynamic
industry partnerships because
tomorrow is worth protecting. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
Bands and artists participating in the boycott,
including Squirrel Flower, Scowl and Okay Shalom,
explained why they protested the 2024 festival. .
There are many ways SXSW is harmful
to working musicians, but I am pulling
out specifically because of the fact
that SXSW is platforming defense
contractors including Raytheon
subsidiaries as well as the U.S. Army,
a main sponsor of the festival, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s Ends , AI Drive-Thru Test With IBM.
Fox News reports that McDonald's has decided to end its artificial intelligence drive-thru program. .
According to 'Restaurant Business,'
McDonald's Chief Restaurant Officer Mason Smoot said
the decision was made "after a thoughtful review.".
McDonald's has decided to end
our current partnership with IBM
on AOT [automated order taking]
and the technology will be shut
off in all restaurants currently testing
it no later than July 26, 2024, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
The program, which started
in 2021, saw over 100 McDonald's
locations help test the new technology.
While there have been successes
to date, we feel there is an
opportunity to explore voice
ordering solutions more broadly, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
According to Smoot, McDonald's will make
"an informed decision on a future voice
ordering solution by the end of the year." .
The goal of the test was
to determine if an automated
voice ordering solution could
simplify operations for crew
and create a faster, improved
experience for our fans, McDonald's statement, via Fox News.
The company echoed Smoot's sentiment in
a statement to Fox News, while also addressing
the future of AI programs at McDonald's.
After thoughtful review, McDonald’s
has decided to end our current global
partnership with IBM on AOT beyond
this year. IBM remains a trusted
partner and we will still utilize
many of their products
across our global system, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News
Credit: Wibbitz Top Stories Duration: 01:30Published
George Strait Sets New , US Concert Attendance Record.
Strait played in front of 110,905 fans at Texas A&M's Kyle Field on June 15, Fox News reports. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
In 1977, the Grateful Dead played to
107,019 fans at New Jersey's Raceway Park. .
Breaking records isn't anything new for Strait.
He has the most No. 1 singles in any music genre, and he's the only musician to get a top 10 hit every year for the past three decades, Fox News reports. .
He's also had the most No. 1 country albums, selling over 120 million records globally.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz
Credit: Wibbitz Top Stories Duration: 01:30Published
New US Home Construction , Sinks to Slowest Pace in 4 Years.
Government data released on June 20 indicates that new home construction in America dropped in May to the slowest pace since June 2020, Yahoo Finance reports. .
Housing starts dropped 5.5%,
and building permits dipped 3.8%.
Home completions also fell to the lowest amount since September 2022.
High interest rates, set by the Fed to help tame inflation, have resulted in high mortgage rates.
But recent data has suggested that inflation has started to cool, which may give the Fed the confidence it needs to lower rates.
The weakest U.S. housing starts
since the pandemic-led shutdowns
are fairly convincing evidence of
restrictive monetary policy. , Sal Guatieri, senior economist at BMO Capital Markets, via note.
While a growing population and
workforce are providing some support,
US home builders won’t become
busier until borrowing costs fall, Sal Guatieri, senior economist at BMO Capital Markets, via note.
Meanwhile, other data released on June 20 showed that first-time applications for unemployment benefits dropped last week.
However, continuing claims rose
for a seventh consecutive week
Credit: Wibbitz Top Stories Duration: 01:30Published
Mortgage Rates Continue , to Fall, Raising Hopes of the , Fed Cutting Rates.
ABC reports that borrowing costs for
home loans continued to ease this week,
with the average rate on a 30-year mortgage
falling to its lowest level since April.
According to mortgage buyer
Freddie Mac, the rate fell from
6.95% to 6.87% last week. .
That figure is still significantly higher than
what the rate was during the same time last year,
which was at an average of 6.67%. .
15-year fixed-rate mortgages
also eased, falling from
6.17% last week to 6.13%. .
During the same time last year,
the average rate was at 6.03%.
Those higher rates can add hundreds of dollars
to monthly costs for borrowers, which limits the
purchasing options of potential homebuyers.
Mortgage rates fell for
the third straight week
following signs of cooling
inflation and market
expectations of a
future Fed rate cut, Sam Khater, Freddie Mac’s chief economist, via ABC.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
Due to yields also beginning to ease, the Federal
Reserve could start to drop its main interest rate
after hiking it up to the highest level in over 20 years.
Last week, Fed officials suggested that they would make
just one cut to their benchmark interest rate in 2024,
down from previous projections of three cuts for the year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Fed Holds Steady , With Interest Rates at , 2-Decade High.
On June 12, the Federal Reserve chose to hold
interest rates at a two-decade high while it
waits to see more signs of inflation going down.
'The Guardian' reports that officials at the United States
central bank expect to make a single rate cut
in 2024, according to the latest projections.
In previous projections,
policymakers expected the Fed
to make three cuts in 2024. .
At the latest meeting, the Fed chose to
keep rates at the same place they've been
for nearly a year, between 5.25% and 5.5%.
Despite recent data suggesting that inflation
may be easing, the Fed clearly doesn't see it moving
at a pace that would lead it to start cutting rates.
In May, inflation cooled slightly across the U.S.,
according to the latest consumer price index, however
consumers remain frustrated over skyrocketing prices.
In May, inflation cooled slightly across the U.S.,
according to the latest consumer price index, however
consumers remain frustrated over skyrocketing prices.
'The Guardian' reports that price growth has
slowed significantly since surging over 9%
in 2022, its highest level in a generation.
'The Guardian' reports that price growth has
slowed significantly since surging over 9%
in 2022, its highest level in a generation.
May saw prices for air fare and fuel go
down, inflation for grocery prices remained
flat, and shelter costs continued to rise.
May saw prices for air fare and fuel go
down, inflation for grocery prices remained
flat, and shelter costs continued to rise.
Overall, prices remained unchanged on a month-to-month
basis as the Fed emphasized that it would wait for
inflation to hit its previously-stated target of 2%.
The committee does not expect
it will be appropriate to reduce
the target range until it has
gained greater confidence
that inflation is moving
sustainably toward 2%, Federal Reserve statement, via Fox News
Credit: Wibbitz Top Stories Duration: 01:31Published
European Central Bank , Cuts Interest Rates.
The action was confirmed on June 6 at
the central bank's meeting, CNBC reports. .
The European Central Bank's (ECB) key
rate will go from 4% down to 3.75%.
The ECB Governing Council issued a statement.
Based on an updated assessment of
the inflation outlook, the dynamics of
underlying inflation and the strength
of monetary policy transmission, , ECB Governing Council, via statement.
... it is now appropriate to
moderate the degree of monetary
policy restriction after nine months
of holding rates steady, ECB Governing Council, via statement.
This is the first time that interest rates
have been cut since September 2019. .
Updated macroeconomic projections indicate that 2024's "annual average headline inflation outlook" has been increased from 2.3% to 2.5%, CNBC reports.
For 2025, it was raised from 2% to 2.2%.
The projection for 2026 stayed at 1.9%.
The ECB's next meeting is in July, where another rate cut is unlikely, experts say.
The slight upgrade to the inflation forecast
was to be expected, inflation has been printing
a little bit hotter than markets were expecting,
but in terms of the timing of the next cut
I’d still be looking to September, Dean Turner, chief euro zone economist at
UBS Global Wealth Management, to CNBC.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
The U.S. Federal Reserve continues
to battle America's rate of inflation.
Credit: Wibbitz Top Stories Duration: 01:31Published
US Economy, Remains Resilient Despite , Interest Rate Hikes.
Associated Press reports that while the job market
has cooled, it continues to defy predictions that
skyrocketing interest rates would..
Credit: Wibbitz Top Stories Duration: 01:31Published
![Surge of New Applications for Unemployment Benefits May Signal Cooling Job Market [Video]](https://video.newsserve.net/300/v/20240613/1378501356-Surge-of-New-Applications-for-Unemployment-Benefits-May.jpg)
![Biden urges Americans to shun political violence day after Trump assassination attempt [Video]](https://video.newsserve.net/300/v/20240715/1381682836-Biden-urges-Americans-to-shun-political-violence-day.jpg)
![Biden's Prime-Time Address: Urgent Call to Reject Political Violence After Trump's Assassination Bid [Video]](https://video.newsserve.net/300/v/20240715/1381682160-Biden-Prime-Time-Address-Urgent-Call-to.jpg)
![Middle-Aged Americans Are Underprepared for Retirement, Study Finds [Video]](https://video.newsserve.net/300/v/20240627/1379781028-Middle-Aged-Americans-Are-Underprepared-for-Retirement-Study.jpg)
![Hypergamy Explained: The Dating Trend Attracting 40% of Americans | Oneindia News [Video]](https://video.newsserve.net/300/v/20240619/1378998680-Hypergamy-Explained-The-Dating-Trend-Attracting-40-of.jpg)
!['If Nukes Launched...?’ Fox News Trolls White House Over Biden's Unavailability of Post 8 PM [Video]](https://video.newsserve.net/300/v/20240710/1381172222-If-Nukes-Launched-Fox-News-Trolls.jpg)
![Spinach Recalled After Testing Positive for Listeria [Video]](https://video.newsserve.net/300/v/20240628/1379908160-Spinach-Recalled-After-Testing-Positive-for-Listeria.jpg)
![Boycotts Lead SXSW to Drop US Military Sponsors for 2025 Festival [Video]](https://video.newsserve.net/300/v/20240627/1379820280-Boycotts-Lead-SXSW-to-Drop-US-Military-Sponsors.jpg)
![McDonald’s Ends AI Drive-Thru Test With IBM [Video]](https://video.newsserve.net/300/v/20240617/1378836034-McDonald-Ends-AI-Drive-Thru-Test-With.jpg)
![George Strait Sets New US Concert Attendance Record [Video]](https://video.newsserve.net/300/v/20240617/1378820332-George-Strait-Sets-New-US-Concert-Attendance-Record.jpg)
![New US Home Construction Sinks to Slowest Pace in 4 Years [Video]](https://video.newsserve.net/300/v/20240620/1379144182-New-US-Home-Construction-Sinks-to-Slowest-Pace.jpg)
![Mortgage Rates Continue to Fall, Raising Hopes of the Fed Cutting Rates [Video]](https://video.newsserve.net/300/v/20240620/1379139322-Mortgage-Rates-Continue-to-Fall-Raising-Hopes-of.jpg)
![Fed Holds Steady With Interest Rates at 2-Decade High [Video]](https://video.newsserve.net/300/v/20240612/1378403338-Fed-Holds-Steady-With-Interest-Rates-at.jpg)
![European Central Bank Cuts Interest Rates [Video]](https://video.newsserve.net/300/v/20240606/1377665674-European-Central-Bank-Cuts-Interest-Rates.jpg)
![US Economy Remains Resilient Despite Interest Rate Hikes [Video]](https://video.newsserve.net/300/v/20230804/1356202339-US-Economy-Remains-Resilient-Despite-Interest-Rate-Hikes.jpg)
