ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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The nation added a booming 353,000 jobs in January. But behind the gaudy numbers, a labor market that was soaring a year ago has become less hospitable, several of my colleagues report. It's hard to tell from the headline numbers, but job-seekers are finding the market increasingly unwelcome. |
Why have companies grown wary of hiring? |
Bye, department stores. Hello, AI |
Just what kind of an economy are we living in? |
The contrasting fortunes of Macy's, a onetime pillar of retail, and Nvidia, an AI chipmaker that could become the most highly valued company ever, hint at the turbulent reality Americans inhabit. |
Macy's announced at the end of February that it will shutter 150 stores amid shrinking sales and revenue. A few business cycles earlier, Nvidia had become one of the first publicly traded companies to reach $2 trillion in market capitalization, as measured by the total value of its stock. |
The 166-year-old retailer and the 30-year-old tech upstart represent distinct slices of the economy, but they encapsulate how different sectors are grappling with shifts that are reshaping how we shop, work and live. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
Daniel de Visé covers personal finance for USA Today. | | | | Job growth has been strong despite high inflation and interest rates. But beneath the surface, hiring has slowed and workers worry about unemployment. | | | |  | While Nvidia is creating the chips that power artificial intelligence, Macy's is struggling to catch up to the shifting expectations of shoppers | | | | Broken phones. Shattered screens. We are paying more than ever to fix our damaged devices. So why don't we treat them better? | | | | A federal judge ruled Tuesday that a government agency created to boost minority-owned businesses must serve all business owners, regardless of race. | | | | Self-checkout is being reassessed at retailers such as Walmart, Target, and Costco due to revenue losses and staffing issues. But it's not going away. | | | | Embattled New York Community Bancorp announced a lifeline of more than $1 billion from a group of investors Wednesday, after seeing its stock plunge. | | | | A LinkedIn outage on Wednesday was impacting thousands of users, a day after Facebook went down on Super Tuesday. | | | | By playing Burger King's make-your-own Whopper challenge, you could win $1 million, but you will get a free Whopper. | | | | Federal Reserve Chair Jerome Powell said the Fed will likely cut interest rates this year. Officials want to see inflation moving "sustainably" to 2% | | | | In 1974, a white Louisiana factory worker sued for reverse discrimination and lost. The nation is still struggling with the outcome. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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