The amount is lower than what they estimated in March. The Office of Management and Budget said the federal deficit will decline by $1.7 trillion this year, representing…
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U.S. Experiences Decline in Worker Productivity
The annual rate shows the largest drop on record. The Labor Department reported Tuesday that U.S. worker productivity fell sharply in the second quarter. On an annualized basis,…
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Unemployment Claims Increase as Layoffs Rise
The number has reached the highest since November of last year. On Thursday, the Labor Department released its weekly report on the job market. For the week ending…
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Interior Seeks Input on New Offshore Wind Locations
The department has identified two potential lease areas in Gulf of Mexico. Last week, the Bureau of Ocean Energy Management opened up two potential offshore wind lease areas…
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Senators Write Secretary Buttigieg about Airline Issues
They suggest better utilization of “existing licensing and rulemaking.” This past week, Senators Elizabeth Warren of Massachusetts and Alex Padilla of California wrote a letter to Transportation Secretary…
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CHIPS Act Passed by House of Representatives
The measure now awaits the president’s signature. On Thursday, the House of Representatives passed legislation to support the production of semiconductors, increase employment in that industry, and technologically…
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Administration Seeks to Redefine Recession
Senator Wicker says that changing the definition doesn’t change the pain. On Thursday, the U.S. Department of Commerce will release its second-quarter gross domestic product (GDP) reading, a…
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Unemployment Claims Reach Eight-Month High
Federal Reserve rate hikes may be causing the labor market to slow down. The number of new applications for unemployment benefits increased by 7,000 last week to 251,000,…
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President Commends Numbers of Foreign Workers in U.S.
He stated that the migrant surge is “creating work opportunities.” During his meeting with the president of Mexico earlier this week, President Biden touted the “record number” of…
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Latest Jobs Numbers Point to Solid Growth
Numbers ease recession fears for now. U.S. employers added 372,000 jobs to the U.S. economy in June, extending a streak of strong labor market gains, yet the broader…
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