Money & The Economy

Some New York labor groups have expressed interest in changing New York gig-worker laws to resemble California’s AB5 bill. AB5, which passed California’s state Senate last week and is expected to be signed into law soon, would recognize some rideshare drivers as employees rather than independent contractors. New York Independent Drivers Guild Executive Director Brendan Sexton said he does not ...

It will also have the effect of increasing demand for secure and dependable oil production available from the United States - the world's #1 energy producer, and a huge exporter at this time.

Yemen’s Houthi rebels took credit for targeting Saudi Arabian state-owned oil facilities in a drone attack that reportedly forced half of the country’s oil supply, or 5% of the global oil supply, to shut down Saturday. Ten drones struck Saudi Aramco oil facilities — one of which is the world’s largest oil plant — in Abqaiq and Khurais, according to ...

President Donald Trump can claim victory in the latest round of the battle for fair trade with China as Beijing has announced that it will remove tariffs on U.S. Agricultural products without requiring any reciprocal moves from the Trump administration. China’s Customs Tariff Commission of the State Council announced Friday that it will postpone tariffs on U.S. pork and soybean ...

Walmart announced Thursday that it is launching a new unlimited grocery delivery subscription service this fall in an effort to challenge Amazon and other competitors who offer similar services. The new service will charge subscribers an annual fee of $98, or a monthly fee of $12.95 for same-day grocery delivery, requiring a minimum order amount of $30, according to a ...

The Washington Post made significant changes to a story about census data Tuesday. The article first highlighted successes under the Trump administration, and the angle was later changed to focus on the increasing number of uninsured Americans in 2018. WaPo told the Daily Caller News Foundation that “it became clear that the bigger news was the first increase in the ...

American minorities have made historic employment gains since President Donald Trump took office in 2017, according to a Washington Post analysis of Department of Labor data. The analysis reveals that American minorities comprise more than 86% of jobs added since the end of 2016. 5.2 million more Americans have obtained jobs since 2016, and 4.5 million of that group are ...

Roughly 6.2 million people have dropped off food stamps since President Donald Trump’s first month in office. Data from the USDA shows 6,268,285 individuals have left the food stamp program since Trump took office. In February 2017, the first month after Trump took office, 42,297,791 persons were participating in the Supplemental Nutrition Assistance Program. As of June 2019, 36,029,506 persons ...

The unemployment rate for black workers fell from 6.0% in July to 5.5 % in August, data from the Department of Labor reveals.  These numbers surpass the record low set in May 2018 of 5.9% for black unemployment and are partially due to improved jobs numbers for black women. While July numbers revealed unemployment for black women to be at 5.2%, ...

Photo Credit: Pexels The Trump Effect strikes again. Donald Trump’s economic policies are giving the U.S. housing market a shot in the arm. In June, Conservative Daily News showed how the U.S. housing market outlook had hit its highest mark in three years. Nationwide senior vice president and chief economist David Berson predicted “another solid year.” His bullish forecast is ...

Democratic New Jersey Sen. Cory Booker announced a pricey climate plan Tuesday, marking a trend as the New Jersey Democrat joins other presidential candidates who are pushing trillion-dollar plans to tackle global warming. Booker unveiled the $3 trillion plan, which promises to spend on green energy, phase out the use of fossil fuels and create a 100% carbon neutral economy in ...

The U.S. imposed a 15% tariff Sunday on Chinese imports valued at $111 billion including tools, apparel, footwear and electronics, The Wall Street Journal reported. A second 15% tariff on $156 billion worth of Chinese smartphones, laptops, toys, video games, among other things, will be implemented on Dec. 15, according to WSJ. “Tariffs will not impact American consumers that much ...

Silicon Valley giants Uber, Lyft and DoorDash are willing to spend $90 million to lobby against a California bill that would recognize drivers as employees rather than independent contractors. Some companies recognize employees as gig workers to avoid paying payroll taxes, above-minimum wages, overtime and complying with other wage and benefit requirements. Several 2020 Democratic candidates including Bernie Sanders, Elizabeth ...

By many accounts, activity in the financial markets during these past summer months has been uncharacteristically volatile.  After hitting record highs of 3,028 on July 26th, the S&P 500, an important economic benchmark, has seen a major reversal that has sent valuations lower.  Overall, the S&P 500 has already lost -3.4% since it reached its peak and many American consumers ...

The Iowa Corn Growers Association said Tuesday that President Donald Trump has caused harm to its members. The Trump administration approved 31 refinery waivers on ethanol, which the group called “unjustified,” according to The Hill. The trade war with China has also affected the price of corn ahead of harvest season, and the weather is playing a part as well, ...