The Institute for Supply Management reported August 2 that its Manufacturing PMI fell 1.1 points to 59.1% in July. The reading indicates that U.S. manufacturing continued to grow, albeit at a slower rate than it had in June. While the manufacturing sector has grown...
In a recent letter to President Joe Biden, American Apparel & Footwear Association (AAFA) president and chief executive officer Steve Lamar emphasized the need for additional government support to address an ongoing shipping crisis that has caused a ‘destructive...
In a mild improvement over the previous month, the U.S. labor market added 559,000 jobs in May, according to Labor Department figures released last Friday. Economists had expected roughly 671,000 new jobs, a significant step up from April's disappointing 266,000. The...
The U.S. Postal Service has spent nearly all of the $10 billion Congress allocated to it last year to offset losses caused by the COVID-19 pandemic, placing the mailing agency in an improved financial position after recently cautioning it may have to cease its normal...
What a difference three months make. Last Friday, the U.S. Labor Department released its monthly jobs report shocking economists and experts everywhere. In March alone, the economy added 916,000 jobs, up from the 675,000 most expected. January and February gains were...
The U.S. Postal Service is leaving the door open to involuntary layoffs as it seeks to downsize its managerial and administrative staff, part of an ongoing effort to reorganize the agency. USPS first announced it would offer voluntary early retirement to eligible...
Small businesses that have been impacted by the pandemic will now be able to apply for up to 24 months of relief totaling $500,000. Previously, the Small Business Administration limited the relief to six months worth $150,000. SBA administrator Isabella Casillas...
Postmaster General Louis DeJoy will unveil the largest rollback of consumer mail services in a generation as part of his 10-year plan for the U.S. Postal Service, according to two people briefed on the proposal, including longer first-class delivery windows, reduced...
Growth at U.S. service providers slowed to a nine-month low in February as companies grappled with logistical challenges and rising prices at the same time a stretch of severe winter weather gripped much of the nation. The Institute for Supply Management’s services...
The pandemic has sped up transformations in the labor market that could force more than 10% of workers in the United States into a new line of work, according to a new report. In the U.S., 17.1 million people will likely need to change jobs in the future, a 28%...
Clothes retailers in Europe and America sit on excess inventory and cut back on spring orders. Sourcing agents face late payments. Garment factories in Bangladesh are on the rack. The global apparel industry, reeling from a punishing 2020, is seeing its hopes of...
Jobs lost during the pandemic are so skewed to lower-income Americans that the average wage didn’t suffer in this tough economy like you might think. In fact, it’s misleadingly high, now topping $30 an hour. Average hourly wages in the U.S. continued to increase in...
