In Washington, D.C., a tax on residents earning more than $250,000 a year is boosting the wages of child care workers. Two years in, it's proving to be a great investment.
Bank of America will pay hourly workers at least $24 per hour — a big jump from early 2019, when it paid $15 per hour. It has launched a series of pay raises as the industry struggles to fill bank teller jobs.
U.S. employers added 353,000 jobs in January — far more than forecasters expected. The sizzling job market is good for workers but could cause the Federal Reserve to postpone a cut in interest rates.
Bold union demands, bolstered by a tight labor market and frustration throughout the COVID-19 pandemic, are paying off in some sectors with significant raises for workers.
U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.
The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.
U.S. employers added 311,000 jobs in February, only a modest slowdown from the previous month, indicating the labor market remains hot. The unemployment rate rose to 3.6% from 3.4% in January.
The Federal Reserve raised interest rates by a quarter-percentage point as part of its ongoing effort to fight inflation. Price hikes have begun to ease, but the Fed says inflation is not yet tamed.
