Labor Department

WASHINGTON | US productivity grew at strong 2.9 percent rate in Q2

WASHINGTON— U.S. productivity grew at an annual rate of 2.9 percent in the second quarter, the fastest pace in more than three years, while labor costs actually fell. The April-June increase in productivity followed a much weaker 0.3 percent rate of gain in the first quarter, the Labor Department reported Wednesday. It was the strongest … Continue reading WASHINGTON | US productivity grew at strong 2.9 percent rate in Q2

WASHINGTON | US consumer prices rose 2.9 pct, leaving Americans worse off

WASHINGTON — Consumer prices climbed 2.9 percent in July from a year earlier, a rate of inflation that suggests Americans are earning less than a year ago despite an otherwise solid economy. The Labor Department said Friday that the consumer price index ticked up 0.2 percent in July. Annual inflation matched the 2.9 percent pace … Continue reading WASHINGTON | US consumer prices rose 2.9 pct, leaving Americans worse off

NEW YORK | US indexes hold steady as tech stocks rise and banks dip

NEW YORK — Major U.S. indexes are little changed Thursday as technology stocks rise while energy companies and banks slip. Bond prices rose, sending yields lower, after the Labor Department reported that wholesale prices were little changed in July, a sign inflation pressures weakened slightly. KEEPING SCORE: The S&P 500 index fell 1 point to … Continue reading NEW YORK | US indexes hold steady as tech stocks rise and banks dip

WASHINGTON | US producer prices flat in July, restraining inflation

WASHINGTON — U.S. wholesale prices were unchanged in July after two months of large increases, a sign inflation pressures have softened. The Labor Department said Thursday that the producer price index — which measures price changes before they reach the consumer — increased 3.3 percent last month from a year earlier. That’s down slightly from … Continue reading WASHINGTON | US producer prices flat in July, restraining inflation

NEW YORK | US stocks inch higher after solid jobs report for July

NEW YORK — U.S. stocks are mostly higher Friday morning after the Labor Department said hiring remained solid in July. Retailers are making some of the largest gains while industrial and technology companies are slightly lower. There was little immediate reaction to China’s threat to put tariffs on $60 billion in American goods. KEEPING SCORE: … Continue reading NEW YORK | US stocks inch higher after solid jobs report for July

WASHINGTON | Pay gains for US workers slowed in second quarter

WASHINGTON  — U.S. workers saw their wages and benefits grow more slowly in the second quarter, a sign that a tight labor market has yet to accelerate income gains. The Labor Department says overall compensation rose 0.6 percent in the April-June period, compared with a 0.8 percent rise in the first quarter. Wages and salaries, … Continue reading WASHINGTON | Pay gains for US workers slowed in second quarter

WASHINGTON | US wholesale prices shoot up 3.4 percent over past year

WASHINGTON — U.S. wholesale prices rose 0.3 percent in June, a slight slowing from May. But the 12-month gain was the fastest in more than six years, adding to evidence that inflation is beginning to rise after years of weak price gains. The Labor Department said Wednesday that the June increase in its producer price … Continue reading WASHINGTON | US wholesale prices shoot up 3.4 percent over past year

WASHINGTON | US unemployment falls nearly to 1969 levels; hiring is solid

WASHINGTON (AP) — Another month of strong hiring drove the nation’s unemployment rate down to 3.8 percent — tantalizingly close to the level last seen in 1969, when Detroit still dominated the auto industry and the Vietnam War was raging. Employers added 233,000 jobs in May, up from 159,000 in April, the Labor Department reported … Continue reading WASHINGTON | US unemployment falls nearly to 1969 levels; hiring is solid