U.S. retailers plan to hire the smallest number of seasonal workers since 2008 because of higher labor costs and uncertainty over consumers’ holiday spending, according to a report by outplacement firm Challenger, Gray & Christmas (CGC) obtained by Reuters.
Inside an extinct Nevada volcano, geologists have found what may be the world’s largest lithium deposit, which they estimate to be between 20 and 40 million tons.
In this year’s second half, the share of U.S. households with at least one uninsured vehicle rose from 5.2 percent to 5.7 percent, data service J.D. Power reported.
The U.S. Federal Reserve’s high interest rates, abetted by inflation, are keeping U.S. mortgage interest rates above 7 percent.
U.S. households added $43 billion to their credit cards in this year’s second quarter, according to WalletHub.
Retail sales ticked up 0.6 percent in August from July as consumers were forced to pay more for heating oil, gasoline, and diesel fuel. Wholesale prices for gasoline leaped up 20 percent, year on year, jet fuel 23.6 percent, and diesel 41.1 percent.
In August, U.S. inflation moved up to 3.7 percent after registering 3.2 percent in July. It was the first month-to-month increase in a year.
U.S. inflation rose from July’s 3.2 percent annually to 3.7 percent in August, driven higher by rising gasoline prices, the U.S. labor department reported. Analysts had expected the figure to rise to 3.6 percent.
The Street is surprised, but Trends Journal subscribers aren’t. Ready for this “shocking” Bloomberg headline? “Canada inflation quickens to 4 percent, driven by higher gas prices.”
In the wake of three bank failures last spring, and as the commercial real estate bust continues to unfold, federal bank regulators are pressing small and regional banks to add to their liquidity, Bloomberg reported.