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Paul Wiseman

Paul Wiseman

Inc.com

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Biden and Trump united on heavy import tariffs as election approaches

Trump and Biden agree on essentially nothing else, from taxes and climate change to immigration and regulation.

21.05.2024 10

Fortune

Paul Wiseman

High interest rates take a bite out of hiring as employers add just 175,000 jobs in April

April's figure is just over half the previous month's number.

03.05.2024 10

Fortune

Paul Wiseman

High interest rates catch up to economic growth as GDP slows dramatically to 1.6%

Consumers kept spending at a solid pace, but overall, the economy's “momentum is cooling," said one economist.

25.04.2024 20

Fortune

Paul Wiseman

‘The way to solve an inflation crisis is to endure an immigration crisis’: The mystery in the labor market finally gets explained

In 2019, the CBO estimated that net immigration would equal about 1 million in 2023. The actual number was more than triple that estimate: 3.3...

12.04.2024 20

Fortune

Paul Wiseman

Producer price index rises at fastest pace in nearly a year as storm of bad inflation news mounts

The Labor Department said its producer price index rose 2.1% last month from March 2023, the biggest year-over-year jump since April 2023.

11.04.2024 20

Fortune

Paul Wiseman

Another hot jobs report jolts Wall Street, jeopardizing rate cuts during election year

Friday’s report from the Labor Department also showed that the unemployment rate dipped to 3.8% from 3.9% in February.

05.04.2024 20

Fortune

Paul Wiseman

Despite rumors of a job-market slowdown, hiring and job openings stayed steady in February

"There is plenty of speculation that employment has slowed down," but data doesn't stand it up, one economist said.

02.04.2024 20

Fortune

Paul Wiseman

Economists say you’re wrong for wanting prices to start falling—and they point to the Great Depression of the 1930s

“Most Americans are not just looking for disinflation," the Fed's Lisa Cook said last year. “They’re looking for deflation."

30.03.2024 20

Fortune

Paul Wiseman

Jerome Powell doesn’t want to ‘jinx’ his war on inflation: ‘I’m a superstitious person’

Powell said Friday he still expected "inflation to come down on a sometimes bumpy path to 2%."

30.03.2024 20

Fortune

Paul Wiseman

The Fed’s favorite inflation gauge slowed in February

The personal consumption expenditures (PCE) price index rose 0.3% from January to February, decelerating from a 0.4% increase the previous month.

29.03.2024 30

Fortune

Paul Wiseman

The U.S. economy just won't quit — fourth-quarter GDP was revised even higher than initial estimate

The government upped its estimate of GDP growth for the last quarter of 2023 to 3.4%, from an earlier 3.2%.

28.03.2024 40

Fortune

Paul Wiseman

Economy delivers another strong month with 275,000 jobs created in February

Last month’s job growth was up from a revised gain of 229,000 jobs in January. The unemployment rate ticked up two-tenths of a point to 3.9%.

08.03.2024 10

Fortune

Paul Wiseman

February jobs report expected to show healthy hiring increase

The job market’s health over the past three years, as the economy accelerated out of the pandemic recession, has been remarkably steady and strong.

08.03.2024 7

Fortune

Paul Wiseman

U.S. economy grew 3.2% in fourth quarter, slight downgrade from initial estimate

The economy grew 2.5% for all of 2023, topping the 1.9% growth in 2022.

28.02.2024 20

Fortune

Paul Wiseman

Robots and AI are saving the American economy with a boom in productivity, the ‘magic beanstalk beans’ that allow higher wages without inflation

Chronic worker shortages have led many companies to invest in machines to do some of the work they can’t find people to do.

21.02.2024 20

Fortune

Paul Wiseman

Only 25% of business economists say the U.S. will have a recession this year, but they worry about China-Taiwan conflict and the 2024 elections

A year ago, most forecasters expected the U.S. economy—the world’s largest—to slide into a recession.

12.02.2024 20

Fortune

Paul Wiseman

Chilly relations with Beijing mean Mexico now exports more than China to the U.S. for the first time in over 20 years

The last time that Mexican goods imported by the United States exceeded the value of China's imports was in 2002.

08.02.2024 10

Fortune

Paul Wiseman

Economy beats expectations again, adding 353,000 jobs in January

The unemployment rate stayed at 3.7%, just above a half-century low.

02.02.2024 30

Fortune

Paul Wiseman

Layoffs rose in December as quits fell to 3-year low in a sign the job market is cooling

But job openings ticked up to 9 million last month.

30.01.2024 20

Fortune

Paul Wiseman

IMF chief economist says world economy is 'now in the final descent toward a soft landing'

The resilient American economy has led the IMF to upgrade its outlook for the whole world this year.

30.01.2024 10

Fortune

Paul Wiseman

America shocks economists again with 3.3% fourth quarter GDP growth as 'soft landing' looms ever nearer

Thursday’s report from the Commerce Department said GDP decelerated from its sizzling 4.9% growth rate the previous quarter.

25.01.2024 30

Fortune

Paul Wiseman

Momentum for rare economic 'soft landing' building with expected 2% GDP reading

The expected reading for the fourth quarter would be a deceleration from a vigorous 4.9% growth rate in the July-September quarter, but still robust.

25.01.2024 9

Fortune

Paul Wiseman

Wholesale prices in December went in reverse even as consumer inflation heated up

Producer prices fell for the third month in a row in December, declining 0.1% and rising a mild 1% on an annual basis.

12.01.2024 10

Fortune

Paul Wiseman

Inflation ticks up on both monthly, annual basis, signaling bumpy ride ahead in supposed soft landing for the economy

Overall prices rose 0.3% from November and 3.4% from 12 months earlier, compared to respective increases of 0.1% and 3.1% the previous month.

11.01.2024 70

Fortune

Paul Wiseman

World Bank sees third straight year of slowing global economy but 'the risk of a global recession has receded'

The World Bank forecast Tuesday that the world economy will expand just 2.4% this year, down from 2.6% in 2023, 3% in 2022 and 6.2% in 2021.

09.01.2024 40

Fortune

Paul Wiseman

Employers added a surprising 216,000 jobs in December, showing high interest rates are no match for the job market

The unemployment rate was unchanged at 3.7%, the 23rd month in a row that it remained below 4%.

05.01.2024 10

Fortune

Paul Wiseman

Jobs report: Trend toward slower, but still healthy, hiring likely continued in December

The Labor Department is expected to report Friday that employers added a still-solid 160,000 jobs last month, according to a survey of forecasters by...

05.01.2024 10

Fortune

Paul Wiseman

Fed chief Jerome Powell left interest rates unchanged last month but said further hikes are still 'possible'

Federal Reserve minutes released Wednesday show that officials felt the economic outlook was uncertain enough that that further hikes may be in the...

03.01.2024 4

Fortune

Paul Wiseman

Workers aren’t quitting anymore as job openings slide to lowest level since March 2021

America's employers posted 8.8 million job openings in November, the fewest since March 2021, and quits fell to pre-pandemic levels.

03.01.2024 20

Fortune

Paul Wiseman

Elon Musk, Taylor Swift, inflation and AI: Business stories that dominated 2023

A look back at 10 top business stories in 2023.

20.12.2023 10

Fortune

Paul Wiseman

Inflation may finally be easing—prices for wholesale goods were unchanged in November

The producer price index — which tracks inflation before it reaches consumers — was flat from October to November, after a 0.4% fall the month...

13.12.2023 10

Fortune

Paul Wiseman

U.S. job openings fall to the lowest level in over 2 years

Employers posted 700,000 fewer job openings in November as hiring slows from the breakneck pace of the past two years.

05.12.2023 20

Fortune

Paul Wiseman

The red-hot economy is growing even faster than we thought, with GDP surging 5.2% last quarter

The revised figure throws doubts on Wall Street's hopes that the Federal Reserve will cut interest rates soon.

29.11.2023 20

Fortune

Paul Wiseman

Global economy will sputter in 2024 because of inflation, interest rates and wars, OECD says

The Paris-based OECD estimated that international growth would slow to 2.7% in 2024 from an expected 2.9% pace this year. That would be the slowest...

29.11.2023 7

Fortune

Paul Wiseman

Wholesale prices had their biggest drop in over 2 years, another sign inflation is fading away

The producer price index showed its first decline since May and its biggest drop since 2020—a sign that prices are cooling before they reach...

15.11.2023 10

Fortune

Paul Wiseman

U.S. economy adds 150,000 jobs in October, likely down about 30,000 on auto strikes alone

The economy looks solid, especially considering September's 9.6 million job openings, down from 2022's record 12 million but high by historical...

03.11.2023 5

Fortune

Paul Wiseman

Job openings rose again and layoffs fell in September as the labor market stays distinctly worker-friendly

Openings in September nudged up to 9.6 million — great for job-hunters but a headache for the Federal Reserve as it worries the labor market is too...

01.11.2023 6

Fortune

Paul Wiseman

Google CEO Sundar Pichai swears under oath that $26 billion payment to device makers was partly to nudge them to make security upgrades and other improvements

He insisted the payments were not just to ensure Google was the first search engine users encounter when they open their smartphones or computers.

30.10.2023 4

Fortune

Paul Wiseman

Minimum 15% global corporate tax has so many loopholes it will only generate half the revenue expected, report warns

An EU watchdog group estimates that a 15% minimum tax could have raised roughly $270 billion in 2023. With the loopholes, it says, that figure drops...

23.10.2023 6

Fortune

Paul Wiseman

High interest rates didn't exactly work in September as wholesale inflation rose at the fastest pace since April

The 2.2% increase, which came as a surprise to economists, was up just 0.5% month-over-month.

11.10.2023 7

Fortune

Paul Wiseman

IMF cuts its 2024 growth forecast as world economy loses momentum in the face of high interest rates and Russia’s war in Ukraine

The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year. The forecast for next year is down a notch from...

10.10.2023 9

Fortune

Paul Wiseman

‘Job openings aren’t telling the story the Fed wants to hear’ as JOLTS numbers show unexpected surge in August

Employers posted 9.6 million job openings in August, up from 8.9 million in July and the first uptick in three months.

03.10.2023 2

Fortune

Paul Wiseman

Apple used Microsoft as a 'bargaining chip' to make Google pony up billions for the search bar, exec testifies

“It is no secret that Apple is making more money on Bing existing than Bing does,’’ Microsoft's ad chief Mikhail Parakhin testified, drawing a...

28.09.2023 2

Fortune

Paul Wiseman

Apple exec seeking to defend against Google monopoly claims testifies there was no 'valid alternative' for search bar

In a landmark antitrust trial, Eddy Cue, Apple’s senior vice president of services, said there wasn’t “anybody as good" as Google.

27.09.2023 1

Fortune

Paul Wiseman

Eddie Cue counters antitrust complaint over Apple's search alliance with Google by saying there was no 'valid alternative'

Apple’s senior vice president of services said that there wasn’t “anybody as good’’ as Google.

27.09.2023 1

Fortune

Paul Wiseman

The founder of a a main Google rival says there's such a stranglehold over search that it only has 2.5% of the market

DuckDuckGo founder Gabriel Weinberg's testimony was separate from the judge's question about whether Taylor Swift is dating Travis Kelce.

22.09.2023 1

Fortune

Paul Wiseman

DuckDuckGo CEO says Google kills competition through phone deals that make it hard for users to switch search engines: ‘It’s too many steps’

The federal government argues Google has smothered competition by paying companies such as Apple and Verizon to lock in its search engine as the...

21.09.2023 1

Fortune

Paul Wiseman

Former Googler testifies under DOJ grilling that his priority was default status for the search engine on mobile

Chris Barton, who worked for Google from 2004 to 2011, said phone companies were offered a share of revenue generated when users clicked on ads.

14.09.2023 1

Fortune

Paul Wiseman

'Google pays more than $10 billion per year for these privileged positions': The government throws the book at big tech in court

The DOJ is accusing Google of creating a "feedback loop," saying it's "been turning for more than 12 years. It always turns to Google's advantage.”

12.09.2023 7

Fortune

Paul Wiseman

The biggest government lawsuit since Microsoft begins today with 90% of the search market at stake

U.S. claims Google pays more than $10 billion a year to maintain its search dominance.

12.09.2023 6

Fortune

Paul Wiseman

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