Connect with us

Politics

Slow employment gains in March as only 103,000 jobs added to U.S. economy

Published

on

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Job growth stumbled in March, with only 103,000 Americans finding new jobs, according to data released Friday by the Department of Labor.

The number was a marked change from February’s blockbuster figure of 313,000 new jobs — which the Bureau of Labor Statistics just revised upwards to 326,000. That total was attributed to unseasonably warm weather creating favorable conditions in sectors such as construction and hospitality.

March’s figures were well below analysts’ expectations and not strong enough to push the unemployment rate below 4.1 percent, where it has remained for the last six months.

Wages continue to be the outlier in the employment data, with hourly earnings posting a moderate gain to 2.7 percent annual growth.

That figure would have to reach 3 percent in order for the Federal Reserve to consider taking action against possible inflation.

Despite March’s disappointing numbers, the employment situation remains robust and represents the longest streak of monthly jobs gains on record.

“Over the first quarter, hiring averaged 202,000, which is above the average for all of last year,” said Bankrate.com senior economic analyst, Mark Hamrick. “If we begin to see signs that momentum is truly slowing in coming months, that’s something different, more worrying.”

Wall Street reaction to the BLS data was muted, with markets already under pressure following President Donald Trump’s announcement late Thursday that he planned to impose $100 billion of additional tariffs on Chinese imports.

“Risks appear to be rising in both the short and long-term,” said Hamrick. “If tariffs were fully implemented, they would have the potential to raise inflation risks, making the Federal Reserve’s job more challenging. Meantime, even under a better case scenario, a high degree of uncertainty has been injected into the business environment — which is never a plus.”

 Employees work at the Metal Box International toolbox factory in Franklin Park, Illinois, on Feb. 21. Tim Aeppel / Reuters file



Source link

Politics

Keir Starmer's Labour Party plummets as Boris Johnson doubles lead in new poll

Published

on

THE TORIES have doubled their lead over Labour in the latest YouGov poll as Boris Johnson’s party continues to enjoy favourable ratings thanks to the huge success of the Covid vaccine rollout.

Source link

Continue Reading

Politics

Attorney General Garland rescinds Trump-era memo curtailing consent decrees

Published

on

WASHINGTON — Attorney General Merrick Garland on Friday rescinded a Trump-era memo that curtailed the use of consent decrees that federal prosecutors have used in sweeping investigations of police departments.

Garland issued a new memorandum to all U.S. attorneys and other Justice Department leaders spelling out the new policies on civil agreements and consent decrees with state and local governments.

The memo comes as the Justice Department shifts its priorities to focus more on civil rights issues, criminal justice overhauls and policing policies in the wake of nationwide protests over the death of Black Americans at the hands of law enforcement.

In easing restrictions placed on the use of consent decrees, the Justice Department is making it easier for its prosecutors to use the tool to force changes at police departments and other government agencies with widespread abuse and misconduct.

The memo in particular rescinds a previous memo issued by then-Attorney General Jeff Sessions shortly before he resigned in November 2018.

Democrats have long argued the ability of the Justice Department’s civil rights division to conduct sweeping probes of police departments had been curtailed under President Donald Trump. The so-called pattern or practice investigations examine whether systemic deficiencies contribute to misconduct or enable it to persist.

“This memorandum makes clear that the Department will use all appropriate legal authorities to safeguard civil rights and protect the environment, consistent with longstanding Departmental practice and informed by the expertise of the Department’s career workforce,” Garland said.

The Justice Department didn’t totally ban pattern or practice investigations under Trump, but former Attorney General William Barr suggested they may have been previously overused.

As attorney general in the Obama administration, Eric Holder frequently criticized violent police confrontations and opened a series of civil rights investigations into local law enforcement practices. The civil rights investigations often ended with court-approved consent decrees that mandated reforms.

The consent decrees included those with the police in Ferguson, Missouri, after the killing of Michael Brown and in Baltimore following the police custody death of 25-year-old Freddie Gray.

Source link

Continue Reading

Politics

SNP outlines when Scotland would hold independence referendum after elections

Published

on

SNP John Swinney has outlined when his party would hold a Scottish independence referendum if they won a majority in the next election.

Source link

Continue Reading

Trending