ECONOMY

Week in politics: Jobs grow; Biden to release reserve oil; logs missing on Jan. 6

8:00am April 02, 2022

by Ron Elving

The U.S. economy continues to create new jobs at a rapid pace. President Biden taps the strategic petroleum reserve to lower gas prices. Also, the seven-hour gap in White House logs on Jan. 6, 2021.

Signs with the message 'Now Hiring' are displayed in front of restaurants in Rehoboth Beach, Delaware, on March 19.

Employers continue hiring spree even as war in Ukraine ratchets up economic fears

4:27pm April 01, 2022

by Scott Horsley

U.S. employers added 431,000 jobs in March, as the unemployment rate fell to 3.6% from 3.8% in February. The tight job market is putting upward pressure on both wages and prices.

Mayor Lori Lightfoot emphasizes the importance of wearing a mask as she provides an update about the COVID-19 vaccinations at Norwegian American Hospital in Chicago on Tuesday, Jan. 5, 2021.

Chicago Mayor Lori Lightfoot proposes gift cards to help residents pay for gas

3:40am April 01, 2022

by Ayana Archie

The proposal also includes transit cards that will help Illinois residents paying an average of $4.46 per gallon at the pump, compared to a national average of $4.23.

"All food prices are now predicted to increase between 4.5 and 5.5%," the USDA's Economic Research Service explained in the March report.

Economy

Food prices are going up — and at levels Americans haven't seen in decades

5:18pm March 31, 2022

by Vanessa Romo

The USDA's latest report found that nearly all major food groups are going up in price.

Cities like Tulsa in Oklahoma are paying people to move there

4:57pm March 31, 2022

by Zeninjor Enwemeka

Many workers now have the ability to work remotely. And cities across the country are trying to lure these workers with cash and other perks.

It's been a volatile quarter on Wall Street, fueling fears about a possible recession

4:17pm March 31, 2022

by David Gura

On Wall Street, the first quarter of 2022 was characterized by extreme volatility, as the Federal Reserve started to hike interest rates to fight surging inflation and Russia invaded Ukraine.

President Biden is said to be considering releasing oil from the country's strategic reserve to ease gas prices.

Biden plans a major withdrawal from the country's oil reserves to control gas prices

3:07pm March 31, 2022

by NPR Staff

The decision comes as prices have spiked since the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

GameStop's stock continues to baffle market experts.

GameStop's stock is on fire once again and here's why

4:28pm March 30, 2022

by Jaclyn Diaz

A year after the "meme stock" phenomenon, GameStop continues to perform far above investment experts' predictions.

Soaring lumber prices contribute to higher home building costs in North Carolina

11:31am March 30, 2022

by Neal Charnoff

A recent surge in lumber prices is contributing to the rising cost of home building in North Carolina.

Builder Emerson Claus and his foreman Rene Landeverde at the site of an apartment they are building in a suburb of Boston.

Economy

There's never been such a severe shortage of homes in the U.S. Here's why

10:24am March 29, 2022

by Chris Arnold

Home prices rose nearly 20% last year, in large part because the U.S. is several million homes short of demand. Builders say the pandemic is partly to blame, but the problem goes deeper than that.

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