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Author: Paul Davidson, USA TODAY

Money

As US job market cools, starting salaries are dropping in some sectors, payroll firm says

April 21, 2023April 21, 2023 Paul Davidson, USA TODAY Comments Off on As US job market cools, starting salaries are dropping in some sectors, payroll firm says

Salaries for new hires are slowing in sectors such as finance, real estate, insurance and tech, says payroll processor Gusto. It could ease inflation.

Money

Retail sales fell 1% in March, more than expected, as winter spending burst loses steam

April 14, 2023April 14, 2023 Paul Davidson, USA TODAY Comments Off on Retail sales fell 1% in March, more than expected, as winter spending burst loses steam

U.S. retail sales declined 1% in March amid recession worries, rising interest rates and high inflation. Economists forecast a 0.4% decline.

Money

The richest Americans are on a spending spree. It may help US avoid a recession this year

April 14, 2023April 14, 2023 Paul Davidson, USA TODAY Comments Off on The richest Americans are on a spending spree. It may help US avoid a recession this year

Recession this year is likely, experts say, but it could be avoided or minimized if the wealthy keep spending despite falling stocks and inflation.

Money

March jobs report: Economy added 236,000 jobs as hiring slowed, unemployment fell to 3.5%

April 7, 2023April 10, 2023 Paul Davidson, USA TODAY Comments Off on March jobs report: Economy added 236,000 jobs as hiring slowed, unemployment fell to 3.5%

U.S. employers added 236,000 jobs in March as hiring slowed for second month amid high inflation and interest rates. Unemployment fell to 3.5%.

Money

More industries are losing jobs. Is it a blip or economic red flag ahead of jobs report?

April 6, 2023April 7, 2023 Paul Davidson, USA TODAY Comments Off on More industries are losing jobs. Is it a blip or economic red flag ahead of jobs report?

A growing share of industries is shedding jobs, a possible clue that employment growth is slowing ahead of a government jobs report on Friday.

Money

Retail and fast food jobs with rising pay lure older workers into roles once filled by teens

April 6, 2023April 6, 2023 Paul Davidson, USA TODAY Comments Off on Retail and fast food jobs with rising pay lure older workers into roles once filled by teens

More older workers are seeking fast-food and retail jobs deemed the province of teens and young adults. The trend is helping ease labor shortages.

Money

JOLTS job openings data fell to a 21-month low in February, a sign labor market is cooling

April 4, 2023April 6, 2023 Paul Davidson, USA TODAY Comments Off on JOLTS job openings data fell to a 21-month low in February, a sign labor market is cooling

Job openings fell to 9.9 million in February, the lowest since May 2021, while quitting picked up in a sign the labor market is gradually cooling.

Money

Banks may be hiking savings rates to hold on to customers amid SVB crisis

March 27, 2023March 28, 2023 Paul Davidson, USA TODAY Comments Off on Banks may be hiking savings rates to hold on to customers amid SVB crisis

Some banks are sharply lifting the interest they pay on savings accounts, CDs after Silicon Valley Bank crisis sparked big outflows of deposits

Money

Will they or won’t they? 4 reasons Fed will raise rates again amid SVB crisis, 4 reasons it won’t

March 21, 2023March 22, 2023 Paul Davidson, USA TODAY Comments Off on Will they or won’t they? 4 reasons Fed will raise rates again amid SVB crisis, 4 reasons it won’t

Most economists expect the Fed to lift interest rates by a quarter point despite the SVB crisis but some disagree. Reasons for and against a hike.

Money

SVB fallout: Yellen tells Congress that banking system ‘remains sound,’ savings ‘remain safe’

March 16, 2023 Paul Davidson, USA TODAY Comments Off on SVB fallout: Yellen tells Congress that banking system ‘remains sound,’ savings ‘remain safe’

After Silicon Valley Bank’s collapse, banking system ‘remains sound,’ depositors’ savings ‘remain safe’ due to U.S. action, Treasury Sec. Yellen says

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Headlines

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U.S. Embassy urges Americans to leave Haiti ‘as soon as possible’

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PCE inflation report: Key measure ticks higher in July. What will the Fed do?

August 31, 2023August 31, 2023 Paul Davidson, USA TODAY

These kids are good: Young Reds in pursuit of a pennant stretch to remember

August 31, 2023 Bob Nightengale, USA TODAY

Blue supermoon: See photos of the rare moon that won’t happen again until 2037

August 31, 2023 Francisco Guzman, USA TODAY

1 dead, 18 injured after collision between car, Greyhound bus in Maryland, police say

August 31, 2023 Emily DeLetter, USA TODAY

USA TODAY Sports staff makes college football picks: Check out the predictions for 2023

August 31, 2023 USA TODAY

Many homeless among dead in fire in Johannesburg, South Africa

August 31, 2023 AP
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