Articles written by Paul Wiseman
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How immigrant workers in US have helped boost job growth and stave off a recession
MIAMI (AP) — Having fled economic and political chaos in Venezuela, Luisana Silva now loads carpets for a South Carolina rug company. She earns enough to pay rent, buy groceries, gas up her car — and send money home to her parents. Reaching the Uni...
Another month of robust US job growth points to continued economic strength
WASHINGTON (AP) — America's employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of h...
US job openings rise modestly to 8.8 million in February in strong labor market
WASHINGTON (AP) — U.S. job openings barely changed in February, staying at historically high levels in a sign that the American job market remains strong. The Labor Department reported Tuesday that employers posted 8.76 million job vacancies in Febru...
Mexico overtakes China as the leading source of goods imported by US
WASHINGTON (AP) — For the first time in more than two decades, Mexico last year surpassed China as the leading source of goods imported by the United States. The shift reflects the growing tensions between Washington and Beijing as well as U.S. effor...
The US didn't just avoid a recession - it's adding hundreds of thousands of new jobs
WASHINGTON (AP) — The nation's employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy's continuing ability to shrug off the highest interest rates in two decades. Friday's govern...
US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength
WASHINGTON (AP) — The nation's employers added a robust 216,000 jobs last month, the latest sign that the American labor market remains resilient even in the face of sharply higher interest rates. Friday's government report showed that December's j...
Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
WASHINGTON (AP) — An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue t...
Retailers, beware: Resumption of student loan payments could lead some buyers to pull back
WASHINGTON (AP) — The reprieve is over. Just as the American economy is struggling with high inflation and interest rates, the coming resumption of student loan payments poses yet another potential challenge. The suspension of federal student loan p...
A surprising burst of US hiring in January: 517,000 jobs
WASHINGTON (AP) — For nearly a year, the Federal Reserve has been on a mission to cool down the job market to help curb the nation's worst inflation bout in four decades. The job market hasn't been cooperating. Consider what happened in January: T...
US economy likely slowed but still posted solid growth in Q4
WASHINGTON (AP) — The U.S. economy likely rolled out of 2022 with momentum, registering decent growth in the face of painful inflation, high interest rates and rising concern that a recession may be months away. Economists have estimated that the g...
'Bad situation': Soaring US dollar spreads pain worldwide
The cost of living in Cairo has soared so much that security guard Mustafa Gamal had to send his wife and year-old daughter to live with his parents in a village 70 miles south of the Egyptian capital to save money. Gamal, 28, stayed behind, working...
Inflation eases as consumer prices rise 6.3% in July
WASHINGTON (AP) — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked. According to a Commerce Department report Friday that is closely watched by the Federal R...
EXPLAINER: Mixed US inflation signs. Where are prices going?
WASHINGTON (AP) — Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn't budge at all from June after 25 straight months of increases. With gas prices continuing t...
'What recession?': US employers add 528,000 jobs in July
WASHINGTON (AP) — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemp...
Worry about stagflation, a flashback to '70s, begins to grow
WASHINGTON (AP) — Stagflation. It was the dreaded "S word" of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford's much-ridiculed "Whip Inflation N...
US added 428,000 jobs in April despite surging inflation
WASHINGTON (AP) — America's employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday's jobs r...
EXPLAINER: Why US inflation is so high, and when it may ease
WASHINGTON (AP) — Another month, another four-decade high for inflation. For the 12 months that ended in March, consumer prices rocketed 8.5%. That was the fastest year-over-year jump since 1981, far surpassing February's mark of 7.9%, itself a 4...
Stocks sink on new COVID variant; Dow loses 905 points
NEW YORK (AP) — Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain w...
Key reason for supply shortages: Americans keep spending
DETROIT (AP) — Take a step back from the picked-over store shelves, the stalled container ships and the empty auto showrooms, and you'll find a root cause of the shortages of just about everything. Even as the pandemic has dragged on, U.S. h...
'Pandora Papers' bring renewed calls for tax haven scrutiny
WASHINGTON (AP) — Calls grew Monday for an end to the financial secrecy that has allowed many of the world's richest and most powerful people to hide their wealth from tax collectors. The outcry came after a report revealed the way that world leaders...
EXPLAINER: Why World Bank is under fire over set of rankings
WASHINGTON (AP) — Under fire for allegations that it bowed to pressure from China and other governments, the World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses. The report is important to many c...
Shortages of supplies and workers will delay Gulf rebuilding
Joe Sobol, owner of Big Easy Construction in New Orleans, has bad news for homeowners who've been calling about roofs damaged by Hurricane Ida or to get an update on renovations that were scheduled before the storm ripped through the area. The job...
US likely enjoyed hiring spree in July as economy rebounds
WASHINGTON (AP) — Despite an uptick in COVID-19 cases and a shortage of available workers, the U.S. economy likely enjoyed a burst of job growth last month as it bounced back with surprising vigor from last year's coronavirus shutdown. The Labor D...
US hiring surges in July, but the variant is the wild card
WASHINGTON (AP) — U.S employers added 943,000 jobs in July and drove the unemployment rate down to 5.4% in another sign the economy is bouncing back with surprising vigor from COVID-19. But there is growing fear the fast-spreading delta variant w...
Musk on trial: Defends SolarCity, calls lawyer 'bad human'
WILMINGTON, Del. (AP) — Tesla founder Elon Musk took to a witness stand Monday to defend his company's 2016 acquisition of a troubled company called SolarCity against a lawsuit that claims he's to blame for a deal that was rife with conflicts of i...
