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Dow soars 572 points as strong jobs report emboldens dip-buying in tech stocks

Johannes Eisele/AFP/Getty Images US stocks rebounded to close the week as a strong February jobs report recovered earlier losses in tech stocks. The US added 379,000 jobs in February, beating the consensus estimate of 200,000 additions.The 10-year Treasury yield steadied after peaking at 1.62% on Friday morning. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks rebounded Friday as dip-buyers emboldened by the strong February jobs report helped lift mega-cap...
Tags: US, Trends, Markets, Opec, Bloomberg, Bureau of Labor Statistics, Jobs Report, Treasury, Nasdaq, Dow Jones, Dow, S&P 500, The Fed, Jamie Cox, Johannes Eisele, Harris Financial Group


The 8 Senate Democrats who voted against raising the minimum wage are collectively worth over $43 million

Senator Joe Manchin, a Democrat from West Virginia, speaks during a news conference with a bipartisan group of lawmakers as they announce a proposal for a Covid-19 relief bill on Capitol Hill, on Monday, December 14, 2020 in Washington, DC. Photo by Al Drago for The Washington Post via Getty Images Eight Senate Democrats rejected a proposal to raise the minimum wage to $15. At least seven are millionaires, and collectively worth more than $43 million.  The federal minimum wage hasn't be ra...
Tags: Politics, News, Washington Post, Montana, Washington, Senate, West Virginia, Trends, Joe Biden, Minimum Wage, Bureau of Labor Statistics, New Hampshire, Maine, Arizona, Treasury, Janet Yellen


Don't be fooled by the jobs report, the Federal Reserve isn't hiking interest rates any time soon

Federal Reserve Chair Jerome Powell prepares to speak during a House Financial Services Committee hearing on Oversight of the Treasury Department's and Federal Reserve's Pandemic Response in the Rayburn House Office Building on December 2, 2020 in Washington, DC. Jim Lo Scalzo/Pool/Getty Images The jobs report was strong, but the US economy has a long way to go to bounce back from the COVID crisis. This means the Federal Reserve isn't going to ease up on its crisis measures anytime...
Tags: Washington, US, Trends, Bureau of Labor Statistics, Treasury, Federal Reserve, Wall Street Journal, FOMC, Fed, Don, Powell, Treasury Department, House Financial Services Committee, Federal Reserve Chair, Jerome Powell, Bespoke Investment Group


Don't be fooled by the jobs report: The Federal Reserve isn't hiking interest rates anytime soon

Federal Reserve Chair Jerome Powell. Jim Lo Scalzo/Pool/Getty Images The jobs report was strong but the US economy has a long way to go to bounce back from the pandemic. The Fed isn't going to ease up on its crisis measures anytime soon and won't raise interest rates. Just listen to Fed Chairman Jerome Powell: He's going to let the job market run hot.  George Pearkes is the global macro strategist for Bespoke Investment Group. This is an opinion column. The thoughts expressed are those of ...
Tags: US, Trends, Bureau of Labor Statistics, Treasury, Federal Reserve, Wall Street Journal, FOMC, Fed, Don, Powell, Federal Reserve Chair, Jerome Powell, Bespoke Investment Group, George Pearkes, Jerome Powell Jim Lo Scalzo


The 'real' February unemployment rate is closer to 9% after adding dropouts and misclassifications, analysis shows

Irene Jiang / Business Insider While the February jobs report showed unemployment dipping to 6.2%, the "real" rate is much higher. Fed Chair Powell and Treasury Secretary Yellen said in early 2021 the real rate is closer to 10%. When accounting for misclassification and dropouts, Insider calculates the true rate at roughly 9.1% after February. Visit the Business section of Insider for more stories. February labor-market data published by the Bureau of Labor Statistics pegged last month's ...
Tags: US, Trends, Bureau of Labor Statistics, Treasury, Janet Yellen, Yellen, Fed, Powell, BLS, Jerome Powell, Fed Chair Powell, Irene Jiang, Ben Winck, Fed Chair Powell and Treasury


10-year Treasury yield climbs past key threshold, pulling tech stocks lower as investors reposition to sectors 'better suited' for economic reopening

Traders work on the floor of the New York Stock Exchange (NYSE) on December 07, 2018 in New York City Spencer Platt/Getty Images The 10-year yield rose beyond 1.6% following a sharp rise in the number of jobs added in the US in February.  The 10-year yield's rise reflects that the US is preparing to exit a "horrible time in our economy," says one analyst.  The Nasdaq lost more ground Friday after Thursday's selloff.  Visit the Business section of Insider for more stories. Borrowing costs a...
Tags: Amazon, US, Trends, Tech, Markets, Tesla, Bureau of Labor Statistics, Treasury, Nasdaq, Yield, Nyse, Jamie Cox, New York Stock Exchange NYSE, Carla Mozee, Cox So, Harris Financial Group


Why Do Women Earn Less Than Men?

By now, it’s pretty well established that women generally earn less than men. According to the Bureau of Labor Statistics, women working full-time earn 77% of what men working full-time do (median earnings). However, that’s a simplification that only reflects the bigger picture. According to “The Gender Pay Gap,” a study published by Francine Blau and Lawrence Kahn, the pay gap is much more complex. Women do earn less than men overall, but the “real” gap for women doing the same work as men is ...
Tags: Marketing, Bureau of Labor Statistics, Ira, Federal Reserve, Make Money, Bloomberg Business, Francine Blau, Lawrence Kahn, Money Beliefs, Money News, Gregory Ward


US economy adds 379,000 payrolls in February, smashing forecasts as virus cases tumble

Ben Hasty/MediaNews Group/Reading Eagle/Getty Images The US added 379,000 jobs in February, beating the consensus estimate of 200,000 additions. The reading marked a second straight month of labor-market expansion and came in well above January's revised sum of 166,000. The unemployment rate dropped to 6.2% from 6.3%, putting it lower than forecasts. Visit the Business section of Insider for more stories. The US labor-market recovery accelerated in February as daily COVID-19 cases swiftly...
Tags: Senate, US, Trends, Bloomberg, Joe Biden, Bureau of Labor Statistics, Wisconsin, Biden, Sen Ron Johnson, BLS, Labor Department, COVID, Ben Winck, MediaNews Group Reading Eagle Getty


Dow rallies 308 points as traders digest blowout jobs report and rising yields

Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 18, 2020 at Wall Street in New York City Johannes Eisele/AFP via Getty Images US stocks erased some losses as traders digested the strong jobs report and rising yields. The US added 379,000 jobs in February, beating the consensus estimate of 200,000 additions.The 10-year treasury yield extended its surge to top 1.61%, the highest point in a year. Sign up here for our daily newsletter, 10 Things Before the Op...
Tags: Wall Street, US, Trends, Markets, Opec, Bloomberg, Bureau of Labor Statistics, Jobs Report, Treasury, Richard Branson, Federal Reserve, Wall Street Journal, Dow Jones, Dow, S&P 500, Chamath Palihapitiya


California, Hawaii, and Nevada saw the largest jumps in unemployment last year, government data shows

Restaurants are reopening in Michigan. Reuters Nevada, California, and Hawaii had the largest unemployment spikes in 2020, new BLS data shows. Nebraska, Utah, and South Dakota saw their unemployment rates rise the least. Employment-population ratios sank to all-time lows in 15 states including Illinois and Virginia. Visit the Business section of Insider for more stories. The coronavirus sparked the worst unemployment crisis in nearly a century, but the damage differs significantly state by...
Tags: Utah, New York, Mississippi, California, Virginia, West Virginia, Trends, Bureau of Labor Statistics, South Dakota, Hawaii, Nebraska, Nevada, District Of Columbia, Illinois, Rhode Island, BLS


US weekly jobless claims rise less than forecasted to 745,000 as stimulus nears key vote

REUTERS/Nick Oxford US jobless claims totaled 745,000 last week, a slight increase from the prior week's revised 736,000 total. The reading comes in just below the consensus economist estimate of 750,000 claims. Continuing claims dropped to 4.3 million for the week that ended February 20. Visit the Business section of Insider for more stories. The number of people filing for unemployment insurance in the US rose less than estimated as Democrats neared a critical vote on President Joe Bide...
Tags: Senate, US, Trends, Bloomberg, Joe Biden, Bureau of Labor Statistics, Biden, ADP, Labor Department, Washington House, Ian Shepherdson, Pantheon Macroeconomics, Ben Winck, REUTERS Nick Oxford US


US companies added far fewer jobs than forecast in February, ADP says

A man wearing a face mask stands next to a "Now Hiring " sign in front of a store on December 18, 2020, in Arlington, Virginia . Olivier Douliery/AFP/Getty Images The US added 117,000 private payrolls in January, according to ADP's monthly employment report. The reading lands well below the 200,000 additions expected by economists. ADP's report comes two days before the Bureau of Labor Statistics publishes nonfarm payrolls data. Visit the Business section of Insider for more stories. Emplo...
Tags: Senate, US, Trends, Bloomberg, Joe Biden, Bureau of Labor Statistics, House, ADP, Arlington Virginia, BLS, Ben Winck


These 15 charts show the inequalities Black Americans still face

Civil rights activist Angela Davis pumps her fist in solidarity during a Juneteenth protest against police brutality as longshoremen shut down the Port of Oakland and 28 other ports along the west coast on Friday, June 19, 2020, in Oakland, California. Yalonda M. James/The San Francisco Chronicle/Getty Images February is Black History Month. Although there's been some progress toward equality for Black Americans, there's a long way to go. From employment data to wealth, these charts look a...
Tags: UK, Wage Gap, Nbc, Labor, Congress, Cdc, Senate, White House, US, America, Trends, Merck, Joe Biden, Economy, Features, Walgreens


How to Prepare for Art and Design School

If you have been excelling in art classes in high school, you might want to pursue art in college or university. You may have a specific career in mind. But if you are undecided, don't worry. Art and design is a highly diverse course and covers a vast range of talent and skills. It also allows students to horn their creative skills, which puts each individual at a competitive advantage in the job market since employers want people who can think outside the box. ...
Tags: Advertising, Article, Bureau of Labor Statistics, Design School, Sylvia S


This map shows how far each US state has to go to recover all the jobs lost in the pandemic

A waiter wears a face mask at a restaurant in New York City on November 10, 2020. Noam Galai/Getty Images Employment in almost every state is still below its level in February 2020. The number of jobs in Hawaii in December was 13.6% below February, the largest decline among the states. Employment in Utah and Idaho at the end of 2020 was slightly above pre-pandemic figures. Visit the Business section of Insider for more stories. Almost all states still had fewer jobs than before the pandemi...
Tags: Utah, Maps, New York, Mississippi, California, New York City, US, Employment, Trends, Bloomberg, Economy, Bureau of Labor Statistics, Idaho, Hawaii, Job losses, Nevada


US government jobs report predicts pandemic will lead to boom times for IT industry

Along with epidemiologists. As for the hospitality industry… not so much The IT industry is heading into boom times, according to the US government’s Bureau of Labor Statistics which has revised its annual jobs report in the face of the pandemic.…
Tags: US, Software, Bureau of Labor Statistics


State edges toward vaccinating 70+, charging for hikers' rescue, $1M Honolulu homes may be classified affordable, more news from all the Hawaiian Islands

Daring view of Waimea Canyon, Kauai ©2021 All Hawaii News Charging illegal hikers for rescue costs considered again by Hawaii lawmakers. Renewed efforts are underway in the state Senate to allow county first-responders to charge outlaw hikers for the cost of rescuing them — and issue criminal fines as well — at a time when government spending is under stress from the fallout of COVID-19. Star-Advertiser. KHON2.Is The End In Sight? And How Will We Know It? Vaccinations are key to how soon ...
Tags: Travel, Senate, Bureau of Labor Statistics, Hawaii, House Of Representatives, Marine Corps, Bill, Waikiki, Maui, Department Of Health, Honolulu, Legislature, West Hawaii, Oahu, Legislative, state Senate


Biden's 'go big' stimulus has kicked off a huge debate about just how big a hole the pandemic punched in the economy

President Joe Biden speaks as he meets with Senators from both parties on the critical need to invest in modern and sustainable American infrastructure in the Oval Office of the White House on February 11, 2021, in Washington, DC. Doug Mills-Pool/Getty Images Biden aims to "go big" on stimulus to fill a hole in the economy, but experts disagree on the size of the hole. Overfilling the hole risks massive inflation, while underfilling it leaves a weak economy. Biden, Wall Street, and the Fed...
Tags: New York, Obama, Washington Post, Washington, White House, US, Barack Obama, Trends, Joe Biden, Ap, Cnn, Bureau of Labor Statistics, Ubs, Treasury, Deutsche Bank, International Monetary Fund


Critics say Biden's 'go big' stimulus overshoots the pandemic-sized hole in the economy - but Wall Street disagrees

President Joe Biden speaks as he meets with Senators from both parties on the critical need to invest in modern and sustainable American infrastructure in the Oval Office of the White House on February 11, 2021, in Washington, DC. Doug Mills-Pool/Getty Images Biden aims to "go big" on stimulus to fill a hole in the economy, but experts disagree on the size of the hole. Overfilling the hole risks massive inflation, while underfilling it leaves a weak economy. Biden, Wall Street, and the Fed...
Tags: New York, Obama, Washington Post, Washington, White House, US, Barack Obama, Trends, Joe Biden, Ap, Cnn, Bureau of Labor Statistics, Ubs, Treasury, Deutsche Bank, International Monetary Fund


5 maps and charts show what a $15 minimum wage would really mean for workers across America

A group of BLM demonstrators protest the Federal Reserve Bank about $15 minimum wage in NYC to solidarity nationwide in Lower Manhattan at the financial district in New York, United States on July 20, 2020 Tayfun Coskun/Anadolu Agency/Getty Images The fight to raise the federal minimum wage to $15 an hour is gaining major traction. Insider has been covering the potential impacts, value, and current wages. These five graphics show the current state of the minimum wage and what a $15 minimum...
Tags: Florida, Maps, New York, Texas, Mississippi, California, Senate, Massachusetts, US, America, Trends, Joe Biden, Minimum Wage, Economy, Cnn, Features


About half of unemployed Americans are not feeling too hopeful about finding a job any time soon

Justin Sullivan/Getty Images Over 10 million Americans are still unemployed, and many are not too hopeful about finding work.  A Pew survey found only about half of unemployed Americans are optimistic about finding a job soon. The pandemic and economic slowdown have also been hard on Americans' mental health, per the survey. Visit the Business section of Insider for more stories. A new survey from Pew Research Center finds only 51% of unemployed Americans are optimistic about finding a jo...
Tags: US, Trends, Economy, Bureau of Labor Statistics, Unemployment, Pew, Pew Research Center, Economic Policy Institute, Pew Research, University of Minnesota, Justin Sullivan Getty, American Psychological Association, Unemployed, Konkel, Christina Nelsen, AnnElizabeth Konkel


All the sneaky ways that flower-delivery services get your order

You've probably turned to flower delivery sites when you've needed a go-to gift for Valentine's Day. Chances are, you've ended up with way more items in your cart at checkout than you expected. Floral wires work as middlemen between the florist and the consumer, pocketing a big chunk of the florist's money. Visit Business Insider's homepage for more stories. Following is a transcript of the video.Narrator: Whether you wanna show someone you care, freshen up your home, or apologize 'cause you re...
Tags: Amazon, Trends, UPS, Colombia, David, Bureau of Labor Statistics, Harry, Shari, FTD, Teleflora, NAPCO, Interflora, Rob Ludacer, Wonderful Company Teleflora


US weekly jobless claims drop less than expected to 793,000 as labor recovery stagnates

Nick Oxford/The Washington Post/Getty Images US jobless claims totaled 793,000 last week, down slightly from the previous week's revised total of 812,000. The reading landed above the economist estimate of 760,000 claims but still marks a fourth straight weekly decline. Continuing claims fell slightly to 4.5 million for the week that ended January 30. Visit the Business section of Insider for more stories. The number of Americans filing for unemployment insurance declined last week as the...
Tags: US, Trends, Joe Biden, Bureau of Labor Statistics, Federal Reserve, Biden, Labor Department, SAHM, Ben Winck, Claudia Sahm, Nick Oxford The Washington Post Getty Images


The Fed says US unemployment is actually about 10% - nearly double the official rate and matching the worst of the Great Recession

Reuters Federal Reserve Chair Jerome Powell said on Wednesday that the actual US unemployment rate is likely higher than its officially recorded level of 6.3%. The Fed chair said adjusting federal data to reflect certain trends would cause it to be nearly 10%.  It's a level nearly twice as large as the official rate and one matching the worst of the Great Recession a decade ago. Visit the Business section of Insider for more stories. Federal Reserve Chair Jerome Powell said on Wednesday t...
Tags: Politics, New York, Republicans, Congress, Senate, US, Trends, Markets, Joe Biden, Economy, Bureau of Labor Statistics, Democrats, Gop, Federal Reserve, Biden, Vermont


How long will California’s economy languish?

As COVID-19 began surging through California a year ago, Gov. Gavin Newsom declared a state of emergency and ordered widespread restrictions on personal and economic activity to curb infection rates. His actions immediately triggered a severe economic recession. California had been enjoying record-low unemployment just before the shutdown, 3.9% of the labor force, but within weeks the jobless rate quickly shot up to a record-high 16.4% as employers laid off workers. Initially, there was a finger...
Tags: Amazon, Congress, California, Opinion, Sport, Joe Biden, Soccer, Bureau of Labor Statistics, South Dakota, Hawaii, Nebraska, Nevada, Gavin Newsom, Capitol, Legislature, Dan Walters


This chart shows which industries are still struggling to regain jobs since the start of the pandemic

Restaurant staff tend to patrons having dinner on the first day of full capacity seating on September 25, 2020 in Tampa, Florida. Octavio Jones/Getty Images The US only added 49,000 jobs in January, far below the expected number of job gains. The following chart shows how employment in different industries has changed since February 2020.  Motion picture and sound recording industries are the farthest below their pre-pandemic employment. Visit the Business section of Insider for more stori...
Tags: Jobs, US, Trends, Economy, Bureau of Labor Statistics, Economic recovery, Recovery, United Airlines, National Restaurant Association, Bunker, Tampa Florida, Nick Bunker, Coronavirus, BI Graphics, Madison Hoff, American Airlines and United


The bleak January jobs report may be exactly what Biden needs to push his stimulus agenda forward

Chip Somodevilla/Getty Images January's payrolls report showed disappointing job gains and more Americans leaving the labor force. The report amplified calls backing President Biden's $1.9 trillion stimulus plan. The absence of new aid risks permanent labor-market scarring, a former Fed economist said. Visit the Business section of Insider for more stories. The January jobs report painted a gloomy picture of the US labor market's recovery. And that could be just what the Biden administrat...
Tags: Washington Post, Senate, US, Barack Obama, Trends, Bank Of America, Bloomberg, Joe Biden, Cnn, NEC, Bureau of Labor Statistics, Federal Reserve, Biden, Fed, Bernstein, Jpmorgan


US economy misses forecasts, adds 49,000 payrolls in January as daily virus cases peak

Valerie Macon/AFP/Getty Images The US added 49,000 jobs in January, missing the estimate for 105,000 additions. The figure also signaled a reversal from the revised 227,000 payrolls lost in December, the first decline in seven months. The unemployment rate dropped to 6.3% from 6.7%, beating forecasts. Visit the Business section of Insider for more stories. The US labor market improved slightly last month as daily COVID-19 cases crested and new stimulus hit households, but job-addition fig...
Tags: Senate, US, Trends, Bank Of America, Bloomberg, Joe Biden, Bureau of Labor Statistics, Biden, Donald Trump, Morgan Stanley, Jpmorgan, Valerie Macon, Ben Winck, Bloomberg State, David Donabedian, CIBC Private Wealth


S&P 500 and Nasdaq hit records on positive labor-market data

Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 13, 2020 at Wall Street in New York City. Johannes Eisele/AFP/Getty Images US stocks rose for the fourth straight session on Thursday as investors cheered strong economic data.Weekly jobless claims dropped to 779,000 last week, landing below forecasts and marking the third week of declines.GameStop, AMC, and other Reddit favorites tumbled as day traders rushed to dodge additional losses.Sign up here for our ...
Tags: Apple, Elon Musk, Ebay, Wall Street, Amc, US, Trends, Georgia, Markets, Bank Of America, Bloomberg, Mario Draghi, Bureau of Labor Statistics, Reddit, Treasury, Janet Yellen


US stocks gain as jobless claims fall for 3rd straight week

Peter Tuchman, right, works among fellow traders at a post on the floor of the New York Stock Exchange, Wednesday, March 4, 2020. AP Photo/Richard Drew US stocks gained slightly on Thursday as investors cheered falling COVID-19 cases and encouraging economic data.Weekly jobless claims dropped to 779,000 last week, landing below forecasts and marking the third week of declines.GameStop, AMC, and other Reddit favorites wavered as day traders considered taking profits or piling further into th...
Tags: Apple, Elon Musk, Amc, US, Trends, Georgia, Markets, Bloomberg, Paypal, Bureau of Labor Statistics, Economic recovery, Reddit, Merrill Lynch, Treasury, New York Stock Exchange, Hyundai