Economy

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Why the job market has weathered rising interest rates, grim economic forecasts

By Christopher Rugaber, Associated Press

Inflation has tumbled from its peak of 9.1% in June 2022 to 3.7% on the back of the Fed’s rate hikes. Yet the unemployment rate, at a still-low 3.8%, has scarcely budged.

How oil price hikes boost Russia’s war as drivers pay more for gas

By David McHugh, Associated Press

Behind the recent bump in price is Saudi Arabia's decision to slash how much oil it sends to global markets through the end of the year. Russia also is cutting back, and less supply means higher prices.

Writers Guild reaches tentative agreement with Hollywood studios to end strike

By Andrew Dalton, Associated Press

Actors remain on strike, but movement on the writers’ demands could mean that the actors will find a resolution soon as well.

Auto workers expand strike nationwide: ‘We’ll take as long as we have to’

By Ali Rogin, Eliot Barnhart

The United Auto Workers expanded its strike to 38 more facilities in 20 different states on Friday. PBS NewsHour’s Ali Rogin reports on why more workers are joining the picket line, what they’re seeking and how it might affect consumers.

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What to know about California’s new proposed rules for property insurance companies

By Adam Beam, Associated Press

California's insurance commissioner says he will write new rules for insurers in the nation's most populous state. Ricardo Lara's announcement on Thursday comes after state lawmakers failed to agree on a new law for insurance companies.

Hawaii economists say Lahaina locals could be priced out of rebuilt town without zoning changes

By Andrew Selsky, Jennifer Sinco Kelleher, Associated Press

Economists in Hawaii warn that residents who survived the wildfire that destroyed much of the Maui community of Lahaina might not be able to afford to live there after it is rebuilt unless officials alter the zoning laws and make…

UAW expands strikes against automakers to 38 locations in 20 states, Biden plans visit to show support

By David Koenig, Associated Press

The president of the United Auto Workers said the union will expand its strike against major automakers by walking out of 38 General Motors and Stellantis plants in 20 states.

Massachusetts becomes first to ban purchase of single-use plastic bottles by state agencies

By Associated Press

Massachusetts buys about 100,000 of the plastic water bottles each year. The order bars all executive offices and agencies from purchasing single-use plastic bottles under 21 fluid ounces except in cases of emergency.

Governors, Biden administration push to quadruple efficient heat pumps by 2030

By Isabella O'Malley, Associated Press

Heat pumps use little electricity, yet are able to heat and cool buildings. Since they often replace oil or gas furnaces that add greenhouse gases to the air, they can meaningfully address climate change.

Biden says Norfolk Southern must be held accountable for Ohio train derailment but won’t declare disaster

By Josh Funk, Associated Press

President Joe Biden ordered federal agencies to continue holding Norfolk Southern accountable for its February derailment in eastern Ohio and appoint a FEMA official to oversee East Palestine's recovery, but he stopped short of declaring a disaster.