Author: businessinvestopedia.com

Attendees learn about job opportunities in California during a City Career Fair hiring event on June 5, 2024, in Sacramento, California.David Paul Morris | Bloomberg | Getty ImagesThe unemployment rate for Black workers fell in August, according to data released Friday by the Labor Department.The unemployment rate for black workers fell to 6.1% in August from 6.3% the previous month, a trend consistent with the national unemployment rate, which fell to 4.2% from July to August.Meanwhile, the unemployment rate for white workers remained steady at 3.8%. The unemployment rates for Asians and Hispanics also rose: for the former, the rate…

The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowdown in the labor market and also paving the way for the Federal Reserve to cut interest rates later this month.The Labor Department’s Bureau of Labor Statistics reported Friday that nonfarm payrolls added 142,000 this month, up from 89,000 in July but below the Dow Jones consensus estimate of 161,000.At the same time, the unemployment rate fell as expected to 4.2%.The labor force increased by 120,000 from the previous month, lowering the unemployment rate by 0.1 percentage point, while the labor force participation rate remained at 62.7%.…

Please note that our Privacy Policy, Terms of Use, Cookies, and Do Not Sell My Personal Information have been updated.CoinDesk is an award-winning media outlet covering the cryptocurrency industry. Its journalists adhere to strict editorial policies. In November 2023, CoinDesk was acquired by Bullish Group, owner of Bullish, a regulated digital asset exchange. Bullish Group is majority owned by Block.one, and both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect the independence of its journalism. CoinDesk employees,…

Goldman Sachs said investors should not stop investing in Broadcom following the company’s latest earnings report. Analyst Toshiya Hari reiterated a buy recommendation on the semiconductor and infrastructure software supplier on Friday. Hari’s $190 price target suggests the stock could rise 24% from Thursday’s closing price. Hari’s announcement came a day after Broadcom reported third-quarter earnings that beat analysts’ expectations on both revenue and profit. But Broadcom said it expected revenue of about $14 billion for the current quarter, slightly below the consensus estimate of $14.11 billion, based on analysts’ expectations surveyed by FactSet. Goldman analysts also noted that revenue…

United Airlines pilots perform a walkaround before a flightLeslie Josephs/CNBCU.S. passenger airlines have surged hiring after a months-long pandemic slump, adding about 194,000 jobs since 2021, according to the Department of Transportation. Now the industry is curbing hiring.Airlines are getting closer to meeting staffing needs but face a number of challenges that are also contributing to the slowdown.In the United States, a glut of flights is driving down fares and squeezing airline profits. Demand growth is slowing. Boeing Airbus’ slump has forced airlines to reassess their expansion plans, creating engine shortages that have led some carriers to postpone plane deliveries…

Nobel Prize-winning economist Joseph Stiglitz said the Federal Reserve should cut interest rates by half a percentage point at its next meeting, accusing the US central bank of tightening monetary policy “too much, too quickly,” exacerbating the inflation problem.His comments came ahead of a key U.S. jobs report on Friday, with investors closely watching August’s nonfarm payroll figures for clues about the size of a possible rate cut this month. The data is due to be released at 8:30 a.m. ET.Strategists generally say a 25 basis point cut is most likely when the Fed meets on Sept. 17-18, but in…

Tata Power shares rose 0.65 percent to Rs 417.7 in trade on Friday. On the same day, it hit a high of Rs 421.25 and a low of Rs 414.65. The stock had a 52-week high of Rs 470.85 and low of Rs 230.75. As of 11:21 am IST, the exchange saw a total trading volume of 8,11,265 shares worth Rs 340.7 crore. The stock price closed at Rs 420.45 in the previous trade. The stock has fallen 9.25 per cent in the past one month, while the benchmark BSE Sensex has risen 1.74 per cent in the same period.…

Currently, NFL teams are a $6.5 billion business.That’s the average value of the NFL’s 32 teams, according to CNBC’s “Official NFL Team Valuations 2024.” Professional football teams have become lucrative assets for owners of America’s most popular sports league, with the returns on initial investments far exceeding those made on traditional stocks over the same period.Take, for example, the Houston Texans, who rank 11th on CNBC’s 2024 value rankings. In 1999, the last time the NFL expanded, the late Robert McNair agreed to buy the franchise rights for a purchase price of $600 million, which took into account the payment…

Andreypov | Istock | Getty ImagesWall Street is preparing for the Labor Department’s jobs report on Friday, one of the most important economic releases this year, which is expected to play a major role in determining the future of Federal Reserve policy.According to Dow Jones, the Wall Street consensus is for nonfarm payrolls to increase by 161,000 in August and the unemployment rate to fall slightly to 4.2%.However, recent data, including a large downward revision from the previous figure, indicates a sharp slowdown in hiring, posing downside risks to that forecast.Meanwhile, markets are confident that the Fed will begin cutting…

Let’s take a look at some of the companies that were making waves in after-hours trading. DocuSign — The e-signature software company rose about 1% after its sales and profits beat expectations. DocuSign’s second-quarter adjusted earnings were 97 cents per share, beating analysts’ expectations of 80 cents per share, according to LSEG. DocuSign’s revenue of $736 million also beat analysts’ expectations of $727 million for the quarter. Broadcom — The semiconductor company fell about 6%. Broadcom reported fourth-quarter revenue of $14 billion, while analysts were expecting $14.04 billion, according to LSEG. In the third quarter, Broadcom reported adjusted earnings per…