Retail
US layoffs spike nearly 50% as DOGE-driven cuts take center stage
Layoffs increased by nearly 50% in May compared with last year, as DOGE was cited as the leading cause of 284,044 job cuts in 2025 so far, representing about 40% of cuts.
Mortgage rates drop for first time in weeks, still hover near 7%
The average rate on the 30-year fixed mortgage rose this week to 6.85%, according to the latest Freddie Mac data released on Thursday. That is down from last week's reading of 6.89%.
ECB cuts rates as bets build on a summer pause
The ECB has now lowered borrowing costs eight times since last June, seeking to prop up a eurozone economy that was struggling before U.S. economic policies dealt it further blows.
Over 300 economists urge Trump, GOP leaders to extend tax cuts before massive tax hike hits Americans
Over 300 economists urged President Donald Trump and GOP leaders in Congress to extend the 2017 tax cuts to prevent a $4 trillion tax hike, warning that failure would harm economic growth.
National Debt Tracker: American taxpayers (you) are now on the hook for $36,215,207,426,690.65 as of 6/4/25
The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.
Amazon to invest $10B in North Carolina for AI data centers
Amazon is investing $10 billion in North Carolina data centers in an effort to focus on the continued development of generative artificial intelligence.
Trump spending bill to cut taxes by $3.7T, add $2.4T to deficit, CBO says
The Congressional Budget Office estimates President Donald Trump’s tax cuts would add $2.4 trillion to the national debt and leave 10.9 million more people uninsured.
Trump calls on 'Too Late' Powell to lower interest rates after dismal ADP jobs report
After ADP revealed a sharp drop in private sector job growth in May, President Donald Trump called on Fed Chair Jerome Powell to lower interest rates.
Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says
The figure reported on Wednesday is well below economists’ estimates of 110,000 jobs and also down from the prior month’s revised reading of 60,000 jobs.
American manufacturing needs labor reform, not tariffs
The U.S. faces job losses as outdated labor policies clash with aggressive tariff use, highlighting the need for reform to sustain manufacturing growth.