Economy

Hong Kong Chief Executive John Lee arrives for a news conference in Hong Kong, Monday, Aug. 8, 2022.

Hong Kong cuts COVID hotel quarantine to 3 days for arrivals

12:56am August 08, 2022

by The Associated Press

Hong Kong's COVID lockdown measures have devastated the city's tourism industry and disrupted business travel in a city known for being an international financial center and a business hub.

Senate pulls an all-nighter to negotiate Inflation Reduction Act

8:03am August 07, 2022

by Franco Ordoñez

The Senate is expected to vote today on the Inflation Reduction Act, which addresses climate change and health care costs, key agenda items for President Biden and Democrats.

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Are Russian sanctions working?

8:03am August 07, 2022

by Alina Selyukh

As the war in Ukraine grinds on, NPR's Alina Selyukh talks with Oleg Itskhoki of UCLA about the effects of sanctions on the Russian economy.

A 'We Want You!' sign is posted at an Ike's Love & Sandwiches store in Los Angeles on July 26.

Economy

The job market got even better, in a surprisingly positive sign for the economy

10:51am August 06, 2022

by Scott Horsley

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

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Week In Politics: Job growth in a shrinking economy

8:11am August 06, 2022

by Ron Elving

While the size of the economy shrank, the nation is still creating jobs at a surprising rate. Also, hedge fund managers end up ahead after negotiations on the Democrats' climate change bill.

A gas pump is seen at a gas station in Houston on June 9. Gas prices have dropped below $4 a gallon in parts of the country, although the national average remains above that level.

Economy

Gas prices are finally dropping. Here are 4 things to know

7:02am August 06, 2022

by Scott Horsley

The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.

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The unemployment rate fell to 3.5%, matching its lowest level in the last 50 years

5:12pm August 05, 2022

by Scott Horsley

U.S. employers added more than half a million jobs in July: more than twice as many as forecasters had expected. The unemployment rate fell to just 3.5%, matching the level before the COVID pandemic.

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Encore: Binders, backpacks and inflation are on 2022's back-to-school shopping list

5:12pm August 05, 2022

by Alina Selyukh

This year's back-to-school shopping season lands as the U.S. sees the highest inflation in four decades. How will high prices affect spending?

A trio of economists have come up with a new way to evaluate the health of an economy

4:57pm August 05, 2022

GDP has declined for a second quarter in a row — a common definition of a recession. But a group of economists are asking, why rely on that single number to determine the health of the economy?

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People wait at the Bank of England in London, Thursday, Aug. 4, 2022.

Economy

The Bank of England predicts a lengthy recession at the end of the year

1:50am August 05, 2022

by The Associated Press

Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, the bank said. That will push Britain into recession later this year, bank forecasts show.