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Articles written by Christopher Rugaber

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A bleak US jobs report likely portends even deeper losses

WASHINGTON (AP) — A grim snapshot of the U.S. job market's sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak that's brought the economy to a near-standstill. The...

 

US added robust 273K jobs in February before virus escalated

WASHINGTON (AP) — Hiring in the United States jumped in February as employers added 273,000 jobs, evidence that the economy was in strong shape before the coronavirus began to sweep through the nation. The Labor Department said Friday that the...

 

Healthy US job market: How big a political edge for Trump?

WASHINGTON (AP) — U.S. hiring jumped last month, and many more people were encouraged to look for work, showing that the economy remains robust despite threats from China's viral outbreak, an ongoing trade war and struggles at Boeing. The strong...

 

Trump's economy: Solid and steady but vulnerable to threats

WASHINGTON (AP) — A portrait of a robust U.S. economy is sure to take center stage Tuesday night when President Donald Trump gives his third State of the Union address. It is an economy that has proved solid and durable yet hasn't fulfilled many...

 

Fed chair sees China virus as possible risk to world economy

WASHINGTON (AP) — Just as the outlook for the global economy had been brightening in recent months, a new threat has suddenly emerged in the form of the viral outbreak in China. That was the cautionary message that Chairman Jerome Powell delivered...

 

US firms keep hiring, easing worries of weakening economy

WASHINGTON (AP) — American businesses have complained for years that they can't find the workers they need to fill available jobs. November's robust hiring gain suggests that at least some have found a way to do so. With the unemployment rate now...

 

An emerging priority for Powell Fed: The plight of the poor

WASHINGTON (AP) — Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate...

 

Powell: Solid economy but tame inflation allows low rates

Federal Reserve Chairman Jerome Powell is sketching an optimistic view of the economy but signaling that continued low inflation means higher interest rates won't likely be necessary anytime soon. Powell says that even with unemployment near a 50-yea...

 

Trump pushes back on reports US will remove China tariffs

WASHINGTON (AP) — President Donald Trump on Friday dismissed a Chinese official's assertion that his administration has agreed to roll back some of the higher tariffs it's imposed on Chinese goods. The Chinese official said Thursday that the two si...

 

US adds modest 136,000 jobs, lowering unemployment to 3.5%

WASHINGTON (AP) — U.S. employers added a modest 136,000 jobs in September, enough to help lower the unemployment rate to a new five-decade low of 3.5%. The figures show that hiring has slowed this year as the U.S.-China trade war has intensified,...

 

Modest hiring enough to fuel sluggish but durable US economy

WASHINGTON (AP) — Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy's record-long expansion in the coming months. Yet with the economy still under threat from a weak...

 

In escalating trade war, US consumers may see higher prices

WASHINGTON (AP) — The United States and China on Sunday put in place their latest tariff increases on each other's goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday...

 

Weak global growth likely to mean US slowdown, not recession

WASHINGTON (AP) — How fragile is the global economy? The U.S.-China trade war is weakening businesses in both countries, Germany's economy shrank in the second quarter, and Britain appears headed for a disruptive exit from the European Union this...

 

AP Explains: Is the US economy nearing a recession?

WASHINGTON (AP) — Financial markets are flashing a key warning sign of a recession, and the global economy is weakening as the U.S.-China trade war intensifies. All of which is heightening fear about the U.S. economy and about whether the 10-year...

 

Richer US households fueling a hot job sector: 'wealth work'

WASHINGTON (AP) — Ken McNamee has an upfront view of the river of wealth cascading through Seattle these days. A private chef, McNamee prospects for clients at the tony country club where he spends part of his week preparing luxe meals. The parking...

 

AP FACT CHECK: Trump challenges Fed with dubious theory

WASHINGTON (AP) — President Donald Trump is flipping interest-rate theory on its head as he tries to blame the Fed for holding back growth. Trump went after the Federal Reserve on Friday after advancing a dubious argument this week that...

 

One reason for a Fed cut: Powell now fears too-low inflation

WASHINGTON (AP) — In a shift from just a few months ago, Federal Reserve Chairman Jerome Powell is worried that too-low inflation could persist for a while — and undercut the U.S. economy. Powell's concern is a key reason why the Fed will likely...

 

Trump says he will tap economists for 2 key Fed vacancies

WASHINGTON (AP) — President Donald Trump, who has criticized the Federal Reserve for not cutting interest rates, said Tuesday that he intends to nominate two economists to fill influential positions on the central bank's Board of Governors. Trump...

 

US hiring slows amid trade rifts and weaker global economy

WASHINGTON (AP) — U.S. hiring stumbled in May as employers added just 75,000 jobs, a sign that businesses have become more cautious in the face of weaker global growth, widening trade conflicts and perhaps some difficulty finding enough workers. La...

 

Trade impasse: Trump pledges $16B to farmers; markets slump

WASHINGTON (AP) — President Donald Trump rolled out another $16 billion in aid for farmers hurt by his trade policies, and financial markets shook Thursday on the growing realization that the U.S. and China are far from settling a bitter,...

 

AP Explains: New China tariffs likely to hit US consumers

WASHINGTON (AP) — With the Trump administration more than doubling tariffs on billions of dollars of Chinese imports, will Americans soon see higher prices on store shelves? Yes, but it may take a few weeks. U.S. import taxes on $200 billion of...

 

Trump Fed choice Stephen Moore withdraws amid controversy

WASHINGTON (AP) — Stephen Moore, a conservative commentator whom President Donald Trump had tapped for the Federal Reserve board, withdrew from consideration Thursday after losing Republican support in the Senate, largely over his past...

 

Hiring surge lifts economy - and Trump's re-election chances

NEW YORK (AP) — The lowest unemployment rate in a half century. More than 260,000 new jobs. And higher hourly wages. "I'll be running on the economy," President Donald Trump declared on Friday. And why wouldn't he? The day's new round of sunny...

 

A Trump dilemma: Finding a dovish GOP ally to serve on Fed

WASHINGTON (AP) — The skeptical response to President Donald Trump's choice of Stephen Moore for the Federal Reserve has thrown a spotlight on the tough task Trump has set for himself: Finding a rare conservative ally who both favors cutting...

 

Outlook for the US economy and stock market brightens

WASHINGTON (AP) — The worries that hung ominously over the U.S. economy early this year appear to have lifted. And that sunnier picture has helped bolster confidence in the stock market — driving the benchmark S&P 500 index to another record...

 

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