News
Inflation held steady last month, but that was before the attack on Iran sent energy costs soaring
1+ day, 50+ min ago (1032+ words) By CHRISTOPHER RUGABER and ANNE D'INNOCENZIO Consumer prices rose 2.4% in February compared with a year earlier, the Labor Department'said Wednesday, matching January's increase. Excluding the volatile food and energy, core prices climbed 2.5% from a year ago, also matching January's level,…...
Retail sales fall modestly in January as American consumers pull back on spending
6+ day, 3+ hour ago (125+ words) American consumers pulled back their spending to start 2026, extending the slump in retail sales that began late last year. Retail sales fell 0.2% in January following a flat reading in December. January's figure came in below the forecasts of economists, who…...
US employers likely added 60,000 jobs last month, subdued but a marked improvement over 2025 hiring
6+ day, 5+ hour ago (563+ words) By PAUL WISEMAN, AP Economics Writer The Labor Department is expected to report Friday that U.S. companies, nonprofits and government agencies added 60,000 jobs last month. That would be down from an unexpectedly strong 130,000 in January. But it would mark considerable improvement…...
$22.50 LA hotel minimum wage led to 6% job loss, according to survey
1+ week, 17+ hour ago (1048+ words) By JOSE HERRERA | City News Service A new survey of 92 hotels showed that 6% of jobs were eliminated after a minimum wage ordinance went into effect for tourism workers in the city, Hotel Association of Los Angeles officials said Wednesday. The…...
Trump expects his Fed pick and AI to deliver a replay of the ’90s boom. Economists have doubts
1+ week, 3+ day ago (1182+ words) By PAUL WISEMAN, AP Economics Writer They are putting their faith in artificial intelligence to duplicate what happened when another technology arrived in the 1990s: the internet. Back then, the American economy surged as businesses became more productive, unemployment tumbled and…...
These charts show how California’s budget has skyrocketed
1+ week, 5+ day ago (99+ words) A look at the Golden State's ballooning budget since 1976. Employees per 1,000 population Inflation note: $531 in 1975 would be worth about $3,314 today. From 2003 to 2026, the state's population increased by 4.9 million people but the budget tripled A breakdown of the chart below: According…...
US wholesale prices arrive hotter than expected, up 0.5% from December and 2.9% from a year ago
1+ week, 6+ day ago (243+ words) By PAUL WISEMAN, AP Economics Writer The Labor Department reported Friday that its producer price index, which measures inflation before it hits consumers, rose 0.5% from December and 2.9% from January 2025. Economists had forecast a 0.3% increase for the month and 1.6% year over…...
Fed’s Waller says rate cut in March is a ‘coin flip’ following a strong US jobs report
2+ week, 3+ day ago (536+ words) At the same time, Waller said last month's pickup in hiring, when employers added a more-than-expected 130,000 jobs, could have been a one-time gain. He said he would need to see a similarly positive report next month to conclude the job…...
Credit One Bank to pay $10 million to settle lawsuit over debt collection calls
2+ week, 5+ day ago (304+ words) Credit One Bank has agreed to pay just over $10 million to settle a civil consumer protection lawsuit alleging the company or its vendors made repeated, intrusive and harassing debt collection calls, the Los Angeles County District Attorney's Office said Friday,…...
Southern California small businesses take ‘wait and see’ approach on tariff ruling
2+ week, 5+ day ago (782+ words) Southern California's businesses took a collective breath on Friday, pondering their next steps and potentially cheaper inventories, after the U.S. Supreme Court struck down sweeping tariffs imposed by the Trump administration. Before they could consider a lot of savings, President Donald…...