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Added on the 06/11/2015 15:18:32 - Copyright : Euronews EN
Washington, Jul 2 (EFE).- The United States' jobless rate surprisingly fell to 11.1 percent in June, a month in which non-farm payroll employment rose by a record 4.8 million, the Labor Department said Thursday.(CAMERA: Edwin Ramírez)
In 2017, then-Governor of Wisconsin Scott Walker made great fanfare of the arrival of Apple's biggest supplier, Foxconn. Foxconn had agreed to build a facility to manufacture large-screen TV displays and create 13,000 jobs. In exchange, Wisconsin would offer an enticing series of tax breaks, totaling $4 billion. Now, Business Insider reports the Wisconsin Economic Development Corporation has rejected Foxconn's application for tax subsidies. Business Insider reports Foxconn had to have at least 520 people under employment by the end of 2019 to receive the subsidies. Foxconn claimed to have hired 550 people, but Wisconsin says only 281 of them met the qualifications listed in the contract.
The solid jobs gains and the sharp increase in wages bolster the Fed's case for a December rate hike. As Fred Katayama reports, that could also support consumer spending in the holiday shopping season.
The solid jobs gains and the sharp increase in wages bolster the Fed's case for a December rate hike. As Fred Katayama reports, that could also support consumer spending in the holiday shopping season.
Employers added jobs at a steady clip as the jobless rate fell to a six-year low. But tepid wage growth won't push the Fed to hike rates sooner. Fred Katayama reports.
The Fed predicts a 5.2 percent rate of inflation, as measured by the personal consumption expenditures price index, before falling rapidly to 2.6 percent next year and 2.2 percent in 2024, Chair Jerome Powell says during a press conference. SOUNDBITE