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Everyday Economics: All eyes on the jobs report as hiring slows | National

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www.thecentersquare.com – Orphe Divounguy – (The Center Square – ) 2025-06-02 05:20:00


The upcoming May jobs report will be a key indicator of the labor market’s health amid slowing economic momentum. April added 177,000 jobs, surpassing forecasts, but revisions to prior months reveal a slower underlying growth averaging 152,000 jobs monthly over the past year. Economists predict May’s gain will slow further to 125,000, the weakest in over a year, with unemployment steady at 4.2%. Rising unemployment claims and layoffs hint at growing stress beneath the surface. Wage growth is moderating. Attention will also focus on Federal Reserve officials’ remarks and construction spending data, shaping expectations for the economy’s near future.

(The Center Square) – The highlight of the coming week will be Friday’s May jobs report – a key gauge of the labor market’s health as economic momentum continues to cool. Investors, policymakers and businesses alike are closely watching whether the hiring slowdown seen this spring is the start of a broader economic soft patch or simply a return to a more sustainable pace after the post-pandemic boom.

April’s payrolls came in stronger than expected, rising by 177,000 jobs and beating the consensus forecast of 130,000. However, that headline number masked a softer trend: prior months saw significant downward revisions, with February and March payroll gains lowered by a combined 58,000 jobs. Accounting for these changes, the underlying pace of job growth has slipped to an average of about 152,000 jobs per month over the past year.

Looking ahead to the May report, expectations are for an even further slowdown – economists forecast just 125,000 new jobs added, the weakest monthly gain in over a year. The unemployment rate is projected to remain unchanged at 4.2%, still historically low, but there are signs of stress building beneath the surface. Continued claims for unemployment benefits are on the rise, and a steady flow of new layoffs has contributed to a gradually growing pool of job seekers.

Wage growth is also decelerating, with year-over-year gains expected to continue trending lower. This moderation in earnings suggests that, while workers are still seeing some improvement in paychecks, the days of outsized wage gains may be behind us for now.

The drivers behind this month’s forecast reveal why the labor market picture remains steady but fragile. The dominant factor is the persistence of the unemployment rate – April’s 4.2% accounts for over 85% of the prediction power and suggests strong momentum toward stability. However, total unemployment claims, now at their highest level since 2021, are the next most important input, hinting at stable but slightly elevated flows into unemployment. While the unemployment rate has shown persistence, rising unemployment claims suggest a labor market that is less robust than headline numbers imply.

As such, this week’s unemployment claims report – not Friday’s BLS employment situation – may offer the clearest signal yet on whether the job market can stay resilient in the face of slowing growth and elevated uncertainty, or if a turning point is at hand for the post-pandemic expansion.

Beyond the labor market, markets will be laser-focused on commentary from Fed Chair Jerome Powell and Governor Christopher Waller – two of the FOMC’s most influential voices. Investors will parse their remarks for any shift in tone regarding the stability of the labor market, especially with the probability of a June rate cut now just 2.2%, though traders still expect two rate cuts in 2025. Meanwhile, construction spending – a key indicator of economic momentum – fell in March, driven by a drop in residential construction. With housing starts showing a modest rebound in May, economists expect total construction spending to have increased slightly in April.

In sum, a week packed with pivotal data and central bank signals will shape expectations for the months ahead.

The post Everyday Economics: All eyes on the jobs report as hiring slows | National appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The article provides a straightforward economic analysis focused on upcoming labor market data, recent payroll trends, wage growth, and Federal Reserve commentary. It maintains a neutral tone throughout, avoiding any editorializing or partisan framing. The language is factual and descriptive, reporting on economic indicators and forecasts without promoting a particular ideological perspective or political agenda. The content adheres to balanced, informational reporting by presenting various data points and expert expectations without suggesting policy preferences or engaging in political advocacy.

The Center Square

House delivers Trump another win, passing $9 billion spending cut bill | National

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www.thecentersquare.com – Thérèse Boudreaux – (The Center Square – ) 2025-07-18 06:12:00


The U.S. House passed a $9 billion rescissions package late Thursday, advancing President Donald Trump’s push to cut federal spending. The bill, which passed 216-213, targets funds already approved for foreign aid and public broadcasting. It revokes $7.9 billion from what Republicans label “woke” foreign programs and $1.1 billion from the Corporation for Public Broadcasting. Cited cuts include funding for climate initiatives, gender diversity projects, and LGBTQ programs abroad. Two Republicans opposed the bill, joining all Democrats. Conservatives call it a step toward deficit reduction, while Democrats warn it could spark a government shutdown over future bipartisan funding cooperation.

(The Center Square) – The U.S. House in a late night vote passed Republicans’ $9 billion rescissions package, delivering another win for President Donald Trump and his promise to cut federal spending.

The measure, which cuts already appropriated federal spending on some foreign aid projects and public broadcasting programs, passed 216-213 in the House, the final voted needed to send it to Trump’s desk for his signature.

Two Republicans – U.S. Rep. Brian Fitzpatrick, R-Pa., and Mike Turner, R-Ohio, joined all Democrats in voting against the measure.

Originally clawing back a total of $9.4 billion, the package now revokes roughly $7.9 billion in “woke” foreign aid programs and $1.1 billion meant to fund the Corporation for Public Broadcasting, which finances NPR, PBS and some radio stations.

Although the rescissions package – compiled by the Office of Management and Budget – does not include many details over specific program cuts, Republican leaders have floated a list of foreign aid initiatives deemed wasteful that will lose funding, including:

  • $21 million for wind farms in Ukraine
  • $18 million to promote gender diversity in the Mexican street lighting industry
  • $6 million for “Net Zero Cities” in Mexico
  • $5 million to strengthen the “resilience of lesbian, gay, bisexual, transgender, intersex, and queer global movements” globally
  • $4.4 million for the Melanesian Youth Climate Corps
  • $3.3 million for civic engagement in Zimbabwe
  • $3 million for Iraqi Sesame Street
  • $2.5 million to teach children about how to make “environmentally friendly reproductive health” choices

It will also revoke millions in funds for “climate resilience” projects in developing countries – such as electric buses in Rwanda – as well as other global aid programs Trump deemed “woke,” promoting everything from abortion pills and vegan foods to DEI awareness and LGBTQ activism.

Conservative groups and fiscal watchdogs have urged lawmakers to support the package as a small step towards tackling the federal deficit. Democrats, however, have threatened to later force a government shutdown in October if it passes, which it did early Friday. They argue that Republicans “cannot expect” Democrats to work with them on bipartisan government funding bills, which require 60 votes in the Senate to pass, if GOP lawmakers will later rescind anything they don’t like, which requires only a majority vote in the Senate.

The rescission package needed only 51 in the Senate to pass.

The post House delivers Trump another win, passing $9 billion spending cut bill | National appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Right-Leaning

The article predominantly presents information from a perspective sympathetic to the Republican proposal and the Trump administration’s spending cuts. The framing uses terms like “delivering another win for President Donald Trump” and highlights conservative fiscal watchdog support, which positively portrays the rescission package. Moreover, the detailed listing of the foreign aid cuts includes language that subtly belittles these programs by emphasizing what are depicted as frivolous or ideologically driven expenses (e.g., “woke” foreign aid, gender diversity in street lighting, Iraqi Sesame Street). Although the article does report Democrats’ opposition, it is presented primarily in terms of political strategy (threatening a government shutdown) rather than as a substantive challenge, which could influence readers towards viewing the Republican action as reasonable and the Democratic response as purely confrontational. These elements indicate a right-leaning bias rather than neutral reporting, which would avoid such evaluative language or framing that favors one side’s narrative.

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News from the South - Tennessee News Feed

No change in Tennessee unemployment rate | Tennessee

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www.thecentersquare.com – By Kim Jarrett | The Center Square – (The Center Square – ) 2025-07-17 16:07:00


Tennessee’s unemployment rate remained steady at 3.5% in June, slightly higher than June 2024’s 3.3% but below the national average of 4.1%. Nonfarm jobs increased by 6,100 in June, with professional and business services, education and health services, and trade sectors leading growth. Average weekly earnings fell by $22.13 to $1,000.82 and hourly earnings dropped by 48 cents to $24.47, both below national averages. Over the past year, Tennessee added 22,900 net jobs, mainly in government, leisure, hospitality, and education-health services, while construction, administrative services, and nondurable goods manufacturing saw declines.

(The Center Square) – Tennessee’s June unemployment rate was 3.5% for the third straight month as nonfarm jobs increased by 6,100.

The number is just slightly higher than the June 2024 rate of 3.3% and lower than the national average of 4.1%, according to information from the Tennessee Department of Labor and Workforce Development.

The average weekly earnings dropped by $22.13 from $1,022.95 to $1,000.82. It remains below the national level, which increased by $7.40 in June to $1,187.38.

The state’s average hourly earnings are down 48 cents in June from $24.96 to $24.47. The national average is up slightly to $28.82, according to the department.

The sectors with the most job growth in June were professional and business services, education and health services and trade, transportation and utilities. Durable goods manufacturing, the federal government and construction had the biggest decreases, according to the department. Tennessee gained 6,100 net jobs in June.

Job growth has been steady over the year in the Volunteer State, with the addition of 22,900 net jobs, the department said. Government, leisure and hospitality and the education and health services sector grew the most year over year.

The three sectors that lost the most jobs over the year are construction, administrative, support and waste services and nondurable goods manufacturing.

The post No change in Tennessee unemployment rate | Tennessee appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

This article presents a straightforward, data-driven report on Tennessee’s June unemployment rate and job sector changes, using official statistics from the Tennessee Department of Labor and Workforce Development. The content avoids emotive or ideologically charged language, does not frame the economic performance in a partisan context, and refrains from attributing credit or blame to political actors. It focuses on facts such as job growth, wage trends, and sector-specific performance without interpretation or commentary. As such, it maintains a neutral tone and adheres to standard economic reporting, reflecting a centrist, nonpartisan stance.

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News from the South - Florida News Feed

Florida regulators hold final public hearing on Peoples Gas rate hike proposal | Florida

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www.thecentersquare.com – By Steve Wilson | The Center Square – (The Center Square – ) 2025-07-17 14:00:00


Florida’s Public Service Commission held a final hearing on Peoples Gas System’s proposed $103.6 million rate hike, which would raise monthly bills by up to 45% for some residential users starting January 1. No public comments were made during hearings, but emails opposing the hike continue to pour in. Critics argue the increase is excessive and unfairly burdens current customers with infrastructure expansion costs. Peoples Gas, a Tampa Electric subsidiary, says the hike is needed to sustain service and provide an 11.1% investor return amid rising expenses. The company serves 470,000 customers in 39 Florida counties.

(The Center Square) – The Florida Public Service Commission held the final of two public hearings on Thursday concerning a request by the state’s largest natural gas company to increase its rates for customers.

In both hearings, there was no feedback from ratepayers, but emails opposing the rate hike continue to populate the rate case docket. 

For a Peoples Gas System residential customer using up to 99 therms (a heat energy measure equivalent to 100,000 British Thermal Units) per month, their bill would increase from $19.10 to $26.50 (38.5%) if the commission approves the increase. For those using 100 to 1,999 therms, their cost would increase from $24.44 to $35.50 per month (45%). 

The rate hike would go into effect on Jan. 1. The commission last approved a rate hike for the utility in 2023. 

Peoples Gas System wants a nearly $103.6 million rate hike, justifying the increase because “existing base rates would not be sufficient to cover the company’s costs of service and provide an adequate return on invested capital.”

As with other regulated monopolies, Peoples Gas is guaranteed a rate of return for its investors on its capital investments.

Peoples said in its filing that it needed a rate of return of 11.1% and, without a rate hike, it would receive 9.15% this year and 5.7% in 2026. It also said it will spend $800 million on improving its infrastructure as its customer base continues to grow. 

Despite a lack of customers providing input at the hearings in Hollywood and Orlando, ratepayers aren’t happy about the proposed rate hike.

“I believe Teco’s proposed rate change for their RS-2 rate class is an outrageous request that would result in a 45% increase in their fee,” Richard Veraszto told the commission in an email. “I understand they are subjected to inflationary costs but to ask for that amount of an increase is not reasonable and should be denied.”

A Fort Myers customer also shared his concerns via email. 

“They just raised their Customer Charge (base rates) significantly in the last couple of years to where a residential base rate is now more than 50% of the total bill,” Andy Koebel wrote in an email to the commission. “Now they want to increase it by almost another 25%. One of the reasons they state the need for this increase is that they have expanded their network by adding 1,260 miles of mains and service lines to service demand. I also work in the utility industry and expansion of service is not to be borne by the existing ratepayers.

“That cost should be covered by connection fees/impact fees paid by developers or new connections if they want service. For this reason, the proposed increase in the Customer Charge to help with expansion associated costs should be denied by the PSC or significantly reduced.”

Koebel also took objection to the proposal by Peoples to combine two of the four rate classes, which he said would adversely affect customers using around 25 to 50 therms per month. 

Peoples Gas System is a subsidiary of Tampa Electric and serves 470,000 residential, commercial, industrial and power generation customers across 39 of Florida’s 67 counties, including five metropolitan areas. 

The post Florida regulators hold final public hearing on Peoples Gas rate hike proposal | Florida appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The article presents a straightforward report on the proposed natural gas rate increase requested by Peoples Gas System. It provides detailed factual information, including specific percentage increases, the company’s justification, and customer responses, without expressing editorial opinions or using emotive language that favors one side. The inclusion of direct quotes from customers opposing the increase and the utility’s own filings demonstrates balanced reporting on the positions of the involved parties. There is no evidence of the article promoting an ideological stance or framing the issue through a partisan lens; rather, it maintains a neutral tone focused on informing readers about the issue and the differing perspectives surrounding it.

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