ECONOMY

Employers added 199,000 jobs in December — less than half of forecasters' prediction

4:58pm January 07, 2022

by Scott Horsley

U.S. employers added 199,000 jobs in December — less than half the number than forecasters had expected. At the same time, the unemployment rate dropped to just 3.9%.

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An employee at a restaurant in Chagrin Falls, Ohio, puts up a sign on June 3, 2021, looking for workers with the promise of free food for new hires.

Employers added only 199,000 jobs in December even before omicron started to surge

11:20am January 07, 2022

by Scott Horsley

U.S. employers added 199,000 jobs in December as the unemployment rate fell to 3.9%, marking a second consecutive month of disappointing numbers.

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What do minimum wage hikes mean for businesses and customers?

5:30am January 07, 2022

Dozens of states are raising the minimum wage. NPR's Rachel Martin talks to Gina Schafer, CEO of Ace Hardware, who decided to implement the pay bump across the board in all her stores.

A woman wearing a face mask to protect against COVID-19 rides down a mostly empty street in Xi'an in northwestern China's Shaanxi Province, Thursday, Jan. 6, 2022.

Chinese anti-virus lockdowns add to concerns over economy

5:09am January 07, 2022

by The Associated Press

China's lockdowns of big cities to fight coronavirus outbreaks are prompting concern about more disruptions to global industries after two makers of processor chips said their factories were affected.

The container ship Hyundai Hope is loaded in Norfolk, Va., on Dec. 1, 2021.

The global supply chain is amazingly efficient. So why did it break down?

1:17pm January 05, 2022

by Dave Davies

"Americans went on a shopping spree as soon as lockdown started, and we haven't really stopped," journalist Christopher Mims says. His book, Arriving Today, goes inside the global supply chain.

French videogame giant Ubisoft's Montreal office is seen on July 18, 2020 in Quebec, Canada.

How subsidies helped Montreal become "the Hollywood of video games"

6:31am January 04, 2022

by Corey Bridges

For decades, Montreal has used generous tax subsidies to boost its video game industry. The policy has succeeded, but the city may need to keep the subsidies in place to keep companies from leaving.

Renters in some areas, such as Austin, Texas, find themselves in bidding wars

6:12am January 04, 2022

by Audrey McGlinchy

A shortage of housing in some parts of the country has led to a rental squeeze. Much like some homebuyers, prospective renters are finding themselves having to offer more than the listing price.

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Biden's top economics advisor weighs in on how omicron is affecting economic recovery

8:06am January 01, 2022

by David Gura

David Gura speaks to Cecilia Rouse, chair of the White House Council of Economic Advisers, about the health of the U.S. economy amid inflation, supply chain interruptions and labor shortages.

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Economy

Financial markets continue to climb despite COVID surge

5:05am December 31, 2021

by David Gura

The stock market has continued to set records even as the Omicron variant injects a new element of uncertainty and investors prepare for the Federal Reserve to raise interest rates in 2022.

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Members of a China-centered Asian trade bloc that takes effect Jan. 1 are hoping the initiative, encompassing about a third of world trade and business, will help drive their recoveries from the pandemic.

Asia looks to China-focused trade bloc for virus recovery

12:36am December 31, 2021

by The Associated Press

Members of the 15-member Regional and Comprehensive Economic Partnership, or RCEP, include China, Japan and South Korea. The new trading bloc does not include the U.S. or India.