Meanwhile, underemployment has only improved slightly over the past year. Australia’s unemployment rate inched up to 4.1 percent in March, rising from 4 percent the previous month, despite a gain of 32,000 jobs. The increase was due to a larger rise in the number of people looking for work, with 3,000 more Australians counted as
The closure would leave the state’s gas-guzzling motorists with seven refineries, which could lead to higher gasoline prices, an industry expert says. Another California oil refinery will close next year, raising the possibility of further pressure on gasoline supplies and higher prices for motorists. Texas-based Valero Energy Corporation said on April 16 that it had
The interior secretary said he directed the Bureau of Ocean Energy Management to ‘halt all construction activities’ on the wind project ’until further review.’ Secretary of the Interior Doug Burgum said on April 16 that he had ordered a halt to the construction of a major wind project off the coast of New York “until
U.S. stocks dropped as the costs of U.S. restrictions on global trade compounded. The S&P 500 fell 2.2 percent Wednesday. The Dow lost 1.7 percent, and the Nasdaq composite sank 3.1 percent. Losses accelerated after the Federal Reserve’s head said President Donald Trump’s tariffs could push economic growth lower and inflation higher than earlier thought.
The Fed report also showed that the manufacturing sector grew at a 5.1 percent annualized pace in the first quarter. U.S. manufacturing continued to grow in March, albeit at a slower pace than the brisk expansion seen the month prior, according to new data from the Federal Reserve, which comes amid President Donald Trump’s tariff-led
The scams are increasingly targeting businesses and using tactics such as fake fraud alerts and bogus job offers. Scammers defrauded Americans of $470 million through text messages in 2024, a fivefold increase over losses reported in 2020, according to new data released by the Federal Trade Commission. The agency’s latest Consumer Protection Data Spotlight shows
‘We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension,’ Federal Reserve Chairman Jerome Powell said. The United States is undergoing profound policy changes that place the Federal Reserve in uncharted territory, Federal Reserve Chairman Jerome Powell said. Powell spoke at the Economic Club of Chicago on April 16,
Washington is reportedly asking countries to ban transshipments, help stop China from dumping cheap goods on the global market, in exchange for tariff cuts. WASHINGTON—The Trump administration is reportedly seeking to add a condition in its trade negotiations with nearly 70 countries that would isolate China. According to a report first published by the Wall
Consumers splashed out on big ticket items including vehicles before U.S. duties on imported vehicle parts went into effect. Retail sales in the United States were stronger than expected in March, driven, in part, by a surge in demand for motor vehicles before expansive new U.S. tariffs kicked in, data from the Commerce Department’s Census
The CEO of the American Chamber of Commerce in Australia says the country can adapt to the shifting trade landscape. As the Trump administration continues to rapidly reshape the U.S. economic landscape, Australia must act swiftly or risk being sidelined, warns April Palmerlee, CEO of the American Chamber of Commerce in Australia (AmCham). Fresh from