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In this July 21, 2021 photo, a consumer shops at a retail store in Morton Grove, Ill. The fastest inflation in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economy's outlook. Earnings reports from Walmart, Target and Amazon this month showed higher costs are hurting retailers' operations. (AP Photo/Nam Y. Huh)

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US economy shrank by 1.5% in Q1 but consumers kept spending
By PAUL WISEMAN - AP Economics Writer
Thu,05/26/22-7:37AM , 534 Reads
WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter.
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A hiring sign is displayed at a home improvement store in Northbrook, Ill., Thursday, May 5, 2022. America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. (AP Photo/Nam Y. Huh)

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US added 428,000 jobs in April despite surging inflation
By PAUL WISEMAN - AP Economics Writer
Thu,05/05/22-8:13PM , 556 Reads
WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs.
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Sri Lankans queue up near a fuel station to buy kerosene in Colombo, Sri Lanka, Tuesday, April 12, 2022. When the Federal Reserve raises interest rates -- as it did Wednesday, May 4, 2022 -- the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans. The fallout can be felt beyond America’s borders, hitting shopkeepers in Sri Lanka, farmers in Mozambique and families in poorer countries around the world. (AP Photo/Eranga Jayawardena, File)

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Rising interest rates in US will hinder foreign economies
By PAUL WISEMAN - AP Economics Writer
Wed,05/04/22-7:24PM , 374 Reads
WASHINGTON (AP) — When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with
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A hiring sign is displayed at a restaurant in Schaumburg, Ill., April 1, 2022. Employers posted a record 11.5 million job openings in March, more evidence of a tight labor market that has emboldened millions of American workers to leave their jobs and contributed to the biggest surge in inflation in four decades. A record 4.5 million Americans quit their jobs in February — a sign that they are confident they can find better pay or working conditions elsewhere. (AP Photo/Nam Y. Huh)

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Employers post record 11.5 million job openings in March
By PAUL WISEMAN - AP Economics Writer
Tue,05/03/22-9:17AM , 496 Reads
WASHINGTON (AP) — Employers posted a record 11.5 million job openings in March, meaning the United States now has an unprecedented two job openings for every person who is unemployed.
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