News

U.S. companies added 223,000 jobs to nonfarm payrolls last month, and the unemployment rate dropped to 5.3% from 5.5%, Labor Department data show. Professional and business services, retail and health care sectors posted some of the largest employment gains.

An indicator from the Federal Reserve Bank of Atlanta may provide an additional spur for the central bank to begin raising interest rates. The new index is based on Census Bureau data on households and will be published monthly. It […]

President Barack Obama has proposed a rule to make overtime pay available to millions of workers. Congressional action is not required. Supporters and critics expect the rule to be challenged in court and possibly in Congress.

The Bank for International Settlements said central banks’ loose monetary policies are hiding an urgent need for structural reform. A need to keep interest rates at abnormally low levels since the financial crisis reflects much bigger problems. Major challenges include […]

Fifty-one percent of Americans are putting off major life changes such as retirement and home ownership due to financial reasons, an AICPA survey found. That’s up from 31% in 2007.

Gross domestic product shrank an annualized 0.2% in the first quarter, according to the Commerce Department, an upgrade from a 0.7% decline reported earlier. Poor weather, traffic disruption at West Coast ports, spending cuts in the energy sector and a […]

The Public Company Accounting Oversight Board plans to propose identifying the engagement partner in a new form that auditors could file with the PCAOB, the board’s chairman, James Doty, said.

Nearly 30% of Americans report they do not have savings for an emergency, marking the highest level in five years, according to Bankrate.com. A lack of growth in income is likely the reason.

The U.S. consumer price index rose 0.4% in May, its biggest gain in more than two years, according to the Labor Department. Oil prices stopped falling in that period, and motorists started paying more for gasoline. The core index, which […]