Retail, Automotive Industries Among the Hardest Hit A total of 33,825 U.S. jobs were cut in August, representing a 19.4% jump from July and a five-percent hike compared to August 2016, according to a recent report by Challenger, Gray & Christmas, Inc.
While August Report Disappointed Overall, Pain Was Not Evenly Distributed Several industries in the United States bore the brunt of job cuts in the August jobs report, which overall underwhelmed and was worse than expected.
Fashion Retailer Part of a Pattern of Retail Bankruptcies Buckle Inc, an American fashion retailer known for its jeans line, has announced another month of dipping sales. The company—which sells women’s, men’s, and kids’ clothing, shoes, and accessories—has announced that its comparable store sales fell in the four-week period ending August 26 by 7.9%, compared to (more…)
Minnesota Is Among the States with the Highest Pension Deficit Minnesota now owes its workers’ retirement plans a debt of $33.4 billion, or about $6,000 for every resident, as new methods for measuring pension solvency are introduced.
SolarCity Sheds Employees as It Continues Consolidation with Tesla Tesla Inc-owned solar-energy company SolarCity Corp informed the State of California this week that the company is shedding 141 employees from its Roseville location. Included in the layoffs is SolarCity’s vice-president of regional sales.
Disney’s Television Group Likely to Get Hit with a String of Layoffs Media entertainment giant Walt Disney Co is initiating a restructuring effort that will allow it to cut the annual costs of its television division by about 10%. Up to 300 jobs are at stake as Disney seeks to reduce is operating expenses.
Harvey-Stricken Houston Homeowners Could Default on Their Mortgages Many Houston, Texas homeowners have been forced to leave their homes that were destroyed by Hurricane Harvey and the resultant flooding. Finding a place to live is their biggest worry now, so covering their monthly mortgage payments may no longer be on their agenda. Affected homeowners do not know (more…)
Numbers don’t lie. But maybe they sometimes do. U.S. revised second-quarter gross domestic product (GDP) came in at three percent, but billionaire investor Warren Buffet said it certainly doesn’t feel like three percent. According to the Commerce Department, the U.S. economy grew faster than expected in the second quarter, notching its quickest pace in more (more…)
Despite depleted retirement savings, a recent study has found that the majority of Americans will need nursing home care at some point in their lives. The study results are a stark contrast to the 35% estimate used by the U.S. Department of Health and Human Services.
If you’re from Maryland it’s about to get a lot more expensive to stay healthy. Those insured through the individual health exchange will see their premiums soar by as much as 50% in 2018.