Scott Horsley
Stories
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Business
The job market continues to expand at a healthy clip as U.S. heads into Labor Day
Employers added 187,000 jobs in August, while the unemployemnt rate rose to 3.8%. The data indicates a steady labor market heading into the Labor Day weekend.
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Politics
Millions of additional salaried workers could get overtime pay under Biden proposal
A proposal from the Labor Department would make an estimated 3.6 million salaried workers newly eligible for overtime pay. It covers workers earning less than $55,000 per year.
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Business
Fed Chair Jerome Powell warns the fight against inflation is far from over
Federal Reserve Chair Jerome Powell said interest rates could stay elevated for an extended period to bring inflation to the central bank's 2% target.
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Business
These are 5 ways surging mortgage rates are reshaping the housing market
The housing market is showing a split: Sales of existing homes were down last month, but sales of newly built houses were up.
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Business
Mortgage rates just hit their highest since 2002
The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.
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National
A look at this summer's surprising home building boom
Builders broke ground on almost 7% more single-family homes in July than in June. New houses are selling quickly, despite high mortgage rates, because of a shortage of existing homes on the market.
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Business
Inflation got a little higher in July as prices for rent and gas spiked
Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations
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Business
Inflation has been falling over the last 12 months. July's data could end the streak
The Labor Department's new cost of living report is expected to show an uptick in inflation last month — for the first time in a year. The jump is caused, in part, by rising energy prices.
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Politics
The case for a soft landing in the economy just got another boost
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.
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Business
The U.S. added jobs at a solid pace in July, reinforcing hopes about the economy
U.S. employers added 187,000 jobs in July, still marking a steady pace of growth. The unemployment rate edged down to 3.5%.