Thursday, July 25

Business

Three Lessons From a Surprisingly Resilient Job Market
Business

Three Lessons From a Surprisingly Resilient Job Market

The pandemic created an economic crisis unlike any recession on record. So perhaps it shouldn’t be surprising that the aftermath, too, has played out in a way that almost no economists expected.When unemployment soared in the first weeks of the pandemic, many feared a repeat of the long, slow rebound from the Great Recession: years of joblessness that left many workers permanently scarred. Instead, the recovery in the labor market has been, by many measures, the strongest on record.In early 2021, some economists foresaw a surge in inflation. Others were skeptical: Similar predictions in recent years — in some cases from the same forecasters — had failed to come true. This time, however, they were right.And when the Federal Reserve began trying to tamp down inflation, there were warnings th...
January CPI Report Live Updates: Prices Cool Less Than Expected
Business

January CPI Report Live Updates: Prices Cool Less Than Expected

Inflation cooled less than expected in January and showed worrying staying power after stripping out volatile food and fuel costs — a reminder that bringing price increases under control remains a bumpy process.The overall Consumer Price Index was up 3.1 percent from a year earlier, which was down from 3.4 percent in December but more than the 2.9 percent that economists had forecast. That figure is down from the latest peak of 9.1 percent in the summer of 2022.But after stripping out food and fuel, which bounce around in price from month to month, “core” prices held roughly steady on an annual basis, climbing 3.9 percent from a year earlier. The measure climbed by the most in eight months on a monthly basis.Federal Reserve officials had welcomed a recent moderation in inflation, and will ...
Pro Sports in Las Vegas Aren’t Cheered by Everyone
Business

Pro Sports in Las Vegas Aren’t Cheered by Everyone

The history of Las Vegas has been marked by a relentless churn of hotels, casinos, theaters and restaurants. But only recently has the city’s landscape included major professional sports teams.The Golden Knights of the National Hockey League were the first to start play here in 2017. The Aces of the Women’s National Basketball Association started in 2018, and the National Football League’s Raiders arrived from Oakland in 2020. Last year, Major League Baseball’s Athletics were given the go-ahead to make the same Oakland-to-Las Vegas move, and the National Basketball Association is expected to add a team in the coming years.Las Vegas’s transformation into a pro sports town reflects not just the leagues’ interest in the city and their general embrace of sports betting, but also the power of t...
Tucker Carlson Urges Putin to Release American Journalist
Business

Tucker Carlson Urges Putin to Release American Journalist

In an interview released on Thursday, Tucker Carlson urged President Vladimir V. Putin of Russia to release an American reporter for The Wall Street Journal who has been held in a notorious Moscow prison for nearly a year.Mr. Carlson’s appeal on behalf of the reporter, Evan Gershkovich, was only the second time that Mr. Putin directly addressed a case that has galvanized press freedom groups and strained diplomatic relations with the United States.Large portions of the two-hour interview were taken up by Mr. Putin’s recounting hundreds of years of Russian history. But in the final minutes, Mr. Carlson asked, “as a sign of your decency,” if he “would be willing to release him to us and we’ll bring him back to the United States.” Mr. Carlson added: “This guy’s obviously not a spy. He’s a kid...
Why Are Americans Wary While the Economy Is Healthy? Look at Nevada.
Business

Why Are Americans Wary While the Economy Is Healthy? Look at Nevada.

Toni Irizarry recognizes that the economy has improved. Compared with the first wave of the pandemic, when Las Vegas went dark, and joblessness soared to levels not seen since the Great Depression, these are days of relative normalcy.Ms. Irizarry, 64, oversees a cafe at the Orleans Hotel and Casino, a property just off the Las Vegas Strip that caters mostly to locals. Guests have returned, filling the blackjack and roulette tables amid the cacophony of jingling slot machines — the sound of money.She started in the hospitality industry busing tables when she was only 16. Her paychecks have allowed her to purchase a home, raise three children and buy each of them their first car. But as she contemplates the future, she cannot shake a sense of foreboding.The outlook of people like Ms. Irizarr...