Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance dipping below 500,000 for the first time since the pandemic crisis. Initial claims totaled 498,000 for the week ended May 1, against the Dow [...]

The Biden administration is withdrawing a Trump-era rule that would have let companies classify gig workers as independent contractors more easily, according to Reuters. The NAM’s view: “Independent contractor arrangements benefit companies and workers by increasing flexibility and streamlining the human resources processes,” said NAM Director of Labor and Employment Policy Drew Schneider when the [...]

The manufacturing skills gap in the U.S. could result in 2.1 million unfilled jobs by 2030, according to a new study by Deloitte and The Manufacturing Institute, the workforce development and education partner of the NAM. The cost of those missing jobs could potentially total $1 trillion in 2030 alone.  The study’s dramatic findings come from online [...]

The manufacturing economy grew in April and the overall economy showed an 11th consecutive month of growth, according to the Institute for Supply Management’s monthly Manufacturing ISM Report on Business. The April PMI of 60.7% was four percentage points lower than the March reading of 64.7% but well above the 50% level that indicates a generally [...]

Promoting infrastructure: The president touted his infrastructure plan, which would invest in America’s bridges, roads, airports, water systems and broadband, especially in rural areas around the country. Increasing funding: The president’s new proposals would be funded through a mix of income and capital gains tax increases on the wealthiest Americans as well as tax increases [...]

Economic activity boomed to start 2021, as widespread vaccinations and more fuel from government spending helped get the U.S. closer to where it was before the Covid-19 pandemic struck, the Commerce Department reported Thursday. Gross domestic product, the sum of all goods and services produced in the economy, jumped 6.4% for the first three months [...]

WASHINGTON (AP) – The accelerated rollout of COVID-19 vaccines, along with the Biden administration’s rescue aid policies, have brightened the outlook for the United States economy as it extends its recovery from the pandemic recession. That is the view of a majority of business economists that emerges from a survey being released Monday by the [...]

The IHS Markit Flash U.S. Manufacturing PMI expanded at a record pace in April, buoyed by new orders growth that was the best since April 2010 and by exports rising at an all-time high for the series. Output and hiring strengthened for the month, but lingering supply chain disruptions in the sector limited production growth. [...]

In its monthly Manufacturing Report on Business, ISM said that the report's key metric, the PMI, came in at 64.7 (a reading of 50 or higher indicates growth), which topped February's 60.8 by 3.9%. This marked the tenth consecutive of PMI growth, coupled with March representing the tenth consecutive month of growth for the overall [...]

Manufacturing growth: Manufacturing production rebounded in March, up 2.7% after it fell 3.7% in February due to supply chain issues and weather. The good news: “While there continue to be challenges in the supply chain and with rising costs, the manufacturing sector continues to expand strongly overall, with production down just 2.1% since the COVID-19 [...]