U.S. retailers will hire the lowest number of seasonal workers for this holiday season since the final quarter of 2008, due to increased labor costs and shaky consumer confidence, according to a report by Challenger, Gray & Christmas shared exclusively with Reuters. Retailers are expected to add just 410,000 seasonal jobs this season, as consumers keep a tight hold on spending and as retailers struggle to pass on rising costs of labor at a time inflation is slowing, said Andrew Challenger, senior vice president at executive coaching firm Challenger, Gray & Christmas, which tracks government data and hiring trends.
California Gov. Gavin Newsom has been wary about appearing as if he's siding with labor unions or film studios as the Hollywood strikes continue. -- Former Treasury Secretary Lawrence Summers warned against excessive optimism about the US being able to quell inflation without an economic downturn, and reiterated that the Federal Reserve will likely need to raise interest rates further.
An analysis by The Columbus Dispatch found the state has received applications totaling approximately $432 million for the 2023-24 school year, which is $34 million more than forecasted by the Legislative Service Commission. MeanKYIV -Ukraine's central bank cut its key interest rate on Thursday to 20% to support economic recovery after nearly 19 months of war with Russia, and signalled further reductions were possible.
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