Labor Department

Consumer confidence in the U.S. rose slightly in June but remains below year-ago levels, with inflation-adjusted incomes declining due to high costs. U.S. employers added only 57,000 jobs in June, the lowest in months, as companies remain cautious about economic health, while jobless claims decreased and mortgage rates fell to a seven-week low.

Consumer confidence in the U.S. remains below historical averages despite a slight monthly increase, while June hiring dropped to 57,000 jobs, the lowest in recent months. Inflation and high borrowing costs continue to impact economic sentiment, though mortgage rates fell to a seven-week low in June.

Job growth in the U.S. slowed in June, falling short of expectations as reported by the Labor Department. The report was covered by CBS News producer Emily Pandise.

The U.S. economy added 57,000 jobs in June, far below the 115,000 expected, with revised April and May figures showing 74,000 fewer jobs. The unemployment rate dropped to 4.2% as 720,000 people exited the labor force. Hiring trends varied by sector, with professional and business services gaining jobs and leisure and hospitality losing 61,000. Wage growth (3.5% year-over-year) lags behind inflation, and unemployment remains higher for African Americans and workers under 25.

U.S. jobless aid applications fell to 215,000 in the week ending June 27, below the 225,000 forecast by analysts. The four-week moving average of claims decreased to 222,000, while the prior week's total filings rose to 1.81 million.

The upcoming Labor Department report on June job changes may show 100,000 new jobs, marking four consecutive months of solid hiring after earlier job losses. The unemployment rate is forecast to remain at 4.3%, but inflation at 4.2% and declining gas prices could influence the Federal Reserve's interest rate decisions.

The upcoming Labor Department report on June job changes may indicate a recovery in U.S. hiring, with economists forecasting 100,000 new jobs and a 4.3% unemployment rate. Recent months show a shift from job losses to gains, though inflation and economic challenges remain concerns.

The upcoming Labor Department report on June job changes will reveal whether U.S. hiring has improved, with economists projecting 100,000 new jobs and a 4.3% unemployment rate. Companies are adjusting to challenges like higher tariffs, the Iran war, and AI investments, but inflation remains a concern. The Federal Reserve faces pressure to address inflation while balancing job market resilience.

Thursday’s Labor Department report on June job changes will provide insights into the U.S. economy's health. The report aims to illustrate hiring trends in the U.S.

President Donald Trump nominated Keith Sonderling to be the permanent secretary of labor, replacing Lori Chavez-DeRemer who resigned amid allegations of abuse of power. Sonderling, who previously held acting roles and leadership positions in Trump's government, must be confirmed by the Senate for the role.

President Donald Trump nominated Keith Sonderling to be the secretary of labor, replacing Lori Chavez-DeRemer who resigned amid abuse-of-power allegations. Sonderling, who has held acting positions in Trump's government, was previously the deputy labor secretary and a member of the Equal Employment Opportunity Commission.

U.S. jobless aid filings decreased to 215,000 in the week ending June 20, below analysts' forecasts of 225,000, indicating low layoffs despite economic challenges. The four-week moving average of claims rose slightly, while total filings for the prior week increased to 1.82 million.

US jobless aid filings decreased to 215,000 in the week ending June 20, below analysts' forecasts of 225,000. The four-week moving average of claims rose slightly to 224,250, while the total number of filings for the prior week increased to 1.82 million.

U.S. jobless aid filings decreased to 215,000 in the week ending June 20, below analysts' forecasts, despite economic headwinds. The four-week moving average of claims rose slightly, while the total number of filings for the prior week increased to 1.82 million.

The male labor force participation rate in the U.S. has declined over generations, with economists attributing this trend to childhood experiences where men observe weak wages and high unemployment among other males. A new study by University of Connecticut economists suggests these early observations shape pessimistic expectations about work, reducing labor force participation later in life.

U.S. jobless aid filings increased to 229,000 in the week ending June 6, the highest since early February but still historically low. Despite concerns over the war in Iran and rising inflation, hiring has improved recently, with 172,000 jobs added in May and a 4.3% unemployment rate. Companies like Verizon, UPS, Amazon, Disney, Starbucks, and Walmart have cut jobs, while job openings rose to 7.6 million in April.

President Donald Trump threatened to strike Iran 'very hard tonight' and claim control of its oil and gas industries, as the U.S. and Iran exchanged strikes, escalating tensions. Cuban officials criticized U.S. Defense Secretary Pete Hegseth's visit to Guantánamo Bay, while the opening of a Detroit River bridge was delayed. U.S. jobless aid filings rose but remained historically low.

US producer prices rose 6.5% year-over-year in May 2025, driven by a 23% monthly surge in wholesale gasoline prices linked to the Iran war. Core wholesale prices increased 0.4% monthly and 4.9% annually, with inflation outpacing the Federal Reserve’s 2% target. Energy disruptions from the Strait of Hormuz shutdown threaten to extend supply issues into the third quarter.

US producer prices rose 6.5% annually in May 2025, driven by energy price surges linked to the Iran war, marking the largest yearly jump since 2022. Core wholesale prices increased 4.9% year-over-year, with inflation outpacing the Federal Reserve's 2% target and potentially prompting interest rate hikes later in the year.

Spiking energy prices drove inflation to a 3-year high of 4.2% annually in May, with energy costs accounting for over 60% of the increase. Core inflation, excluding food and energy, rose 2.9%.

Senate Minority Leader Chuck Schumer criticized the Trump administration for rising inflation, citing Labor Department data showing a 4.2 percent annual increase in the consumer price index (CPI) and a 0.5 percent rise in May. Schumer described the inflation trend as worsening.

A May report from the Labor Department showed inflation rising 4.2 percent, the highest level in three years, with the Iran war impacting consumers. The report is seen as unfavorable for President Trump and the GOP in an election year focused on affordability.

Inflation reached a 3-year high of 4.2% in May, driven by rising gas prices linked to Iran's closure of the Strait of Hormuz. The Federal Reserve faces pressure to raise interest rates amid political challenges for the Trump administration as affordability concerns grow for Americans.

Rising gas prices due to Iran's closure of the Strait of Hormuz pushed inflation to a 3-year high of 4.2% in May, challenging the Federal Reserve and Trump administration as they consider rate hikes to address affordability concerns. The Labor Department reported annual consumer price increases, with energy costs and shipping surcharges contributing to broader economic pressures.

Rising gas prices pushed inflation to a 3-year high in May, with consumer prices up 4.2% annually. Inflation has surged after tariffs in 2025 and the Iran war disrupted oil supply, while the Federal Reserve faces pressure to raise rates despite a growing job market.

President Trump highlighted the stronger-than-expected jobs report as a sign of a booming U.S. economy, declaring it's 'raining jobs.' The U.S. economy added 172,000 jobs in May, exceeding economists' expectations, with the unemployment rate remaining steady at 4.3% according to the Labor Department.

U.S. employers added 172,000 jobs in May, exceeding expectations, but farmers in Wisconsin face challenges due to tariffs and rising fuel and fertilizer costs linked to the Iran war. The report highlights contrasting economic realities between national job growth and agricultural sector struggles.

U.S. stock markets experienced their worst day since October as tech stocks led a sell-off, driven by a strong jobs report increasing expectations of a Federal Reserve rate hike. The S&P 500 dropped 2.6%, with tech giants like Nvidia, Broadcom, and Micron Technology suffering significant losses.

Tech stocks led a market decline as fears of prolonged Federal Reserve rate hikes and concerns about the AI-driven chip boom's sustainability intensified. A strong jobs report and disappointing guidance from chipmaker Broadcom exacerbated the selloff, with the Nasdaq dropping 4% and the S&P 500 falling 2.6%. Analysts noted a stable but non-inflationary labor market, delaying immediate rate hike expectations.

Stocks declined as tech companies like Nvidia and Micron Technology lost value, driven by a strong May jobs report that increased expectations of higher interest rates. The S&P 500 and Nasdaq saw significant drops, while bond yields rose following the Labor Department's report of 172,000 new jobs. The Federal Reserve, led by Kevin Warsh, is expected to keep rates steady in June but faces pressure for future hikes.

Inflation in the U.S. is rising nationwide, with a 3.8% annual rate in April 2025. Claims that blue states like New York and California uniquely drive inflation are false, as all Census Bureau regions show elevated inflation rates influenced by global gas prices and shipping costs. Red states also experience high inflation, with some exceeding the national average.

Stocks fell as Big Tech companies like Nvidia and Broadcom declined, while bond yields surged following a strong May jobs report showing 172,000 new jobs. The report reduced expectations of a Federal Reserve rate cut, with the S&P 500 dropping 1% and Treasury yields rising significantly.

The U.S. job market added 172,000 jobs in May, with an unemployment rate of 4.3%, showing resilience despite the Iran war and high energy prices. Job growth was broad-based, including gains in local governments, restaurants, and healthcare, though wage increases remained modest and inflation concerns persist.

Stocks declined as big technology companies like Nvidia and Broadcom fell, while bond yields surged following a strong May jobs report showing 172,000 jobs added. The Federal Reserve’s potential interest rate decisions and elevated oil prices due to the Strait of Hormuz closure further pressured markets.

Stocks on Wall Street declined as big tech stocks like Nvidia and Broadcom dragged down major indices. A stronger-than-expected jobs report fueled concerns about delayed Federal Reserve rate cuts, while elevated oil prices due to the Iran war added economic uncertainty.

US employers added 172,000 jobs in May, with the unemployment rate remaining at 4.3%. Job growth was broad-based across sectors like local governments, restaurants, and healthcare, despite high energy prices from the Iran war. Wage gains were modest, aligning with the Fed's inflation targets, though challenges like long-term unemployment and a stagnant job market persist.

The Senate passed a $70B immigration enforcement bill after delays and backlash over a settlement fund. President Trump stated Bill Pulte would not be his permanent choice for acting director of national intelligence due to bipartisan pushback. The US job market added 172,000 jobs in May, maintaining a 4.3% unemployment rate amid economic uncertainty from the Iran war.

US employers are expected to add 105,000 jobs in May 2026, showing a tepid recovery in the labor market amid high energy prices from the Iran war. Healthcare is a key sector driving job growth, while overall hiring remains below pre-pandemic levels, leading to a stagnant 'no-hire, no-fire' labor environment.

US jobless aid filings rose to 225,000 in the week ending May 30, the highest since the Iran war began in February, though layoffs remain historically low. The war has driven oil prices up 50%, with gas prices now at $4.24 per gallon, and contributed to rising inflation, which hit 3.8% in April 2025. Companies like Verizon, UPS, Amazon, Disney, Starbucks, and Walmart have recently cut jobs amid economic uncertainty.

US lawmakers are opposing the Labor Department's plan to include crypto in 401(k)s due to concerns about volatility and insufficient regulation, which they believe risks Americans' retirement savings.