Feds raise key interest rate to highest level in 16 years
The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years.
3M laying off 1,100 people at Maplewood headquarters
3M is laying off more than 1,000 people at its Maplewood headquarters, according to a WARN notice dated May 1.
First Republic Bank seized by regulators, sold to JPMorgan Chase
San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.
73% of American Millennials living paycheck-to-paycheck, financial report shows
Faced with high prices and interest rates, consumers have begun reining in their spending.
St. Paul Starbucks workers’ strike, walk off job Thursday
Starbucks employees at Snelling Avenue location in St. Paul walked off the job Thursday, picketing out front and forcing the store to close.
These are the cities you can earn six figures in and still be broke
A new study found that in 16 of the 100 largest U.S. metros, a family of three earning a $100,000 annual income would spend more on the basics than what they earn. California cities made up half of the list.
Minnesota's unemployment rate down slightly in March
Minnesota’s unemployment rate was down slightly in March according to data from the Minnesota Department of Employment and Economic Development.
US workers now expect almost a $76,000 salary to start a new job, data shows
Meanwhile, American women expect far less than men when it comes to salary in a new job offer, according to the new Federal Reserve data.
The best time to sell your home is this week, data reveals
According to the research, the week of April 16-22 offers higher-than-average prices and a lower-than-average time on the market, while also offering a higher-than-average number of buyers.
US retail sales fall amid high inflation, rising rates
The decline in sales adds to other recent evidence that the economy is cooling as consumers grapple with higher interest rates and the impact of a year-long bout of elevated inflation.
Senior Fed official sees need for more interest rate increases
Last month, inflation slowed as food and gas prices fell, but excluding those volatile categories, “core” prices kept rising and are 5.6% higher than a year ago.
Cub Foods workers reach tentative agreement ahead of holiday weekend strike
Cub Foods employees reached an agreement ahead of a looming strike that would have affected dozens of stores on a busy holiday weekend.
US adds 236,000 jobs in March despite Fed's rate hikes
The latest signs increasingly suggest that an economic slowdown may be upon us.
Cub Foods says stores will stay open during holiday weekend worker's strike
Cub Foods leaders say stores will stay open in Minnesota despite a strike planned for the holiday weekend.
Minnesotans' annual pay increased 6.6% in March, according to ADP
Employees who have stayed in their roles the past 12 months have increased their pay an average of 6.6% year-over-year in March.
Social Security cuts could be coming soon — here's who will be affected
A recent government report suggests that Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees.
President Biden visits Fridley to tout economic agenda
President Joe Biden visited Minnesota on Monday, making a stop in Fridley to tout his economic agenda.
First Citizens to acquire troubled Silicon Valley Bank, FDIC says
Customers of Silicon Valley will automatically become customers of First Citizens, which is headquartered in North Carolina.
Gender pay gap in US hasn’t changed much in two decades, report finds
New analysis from Pew Research finds that despite women earning more now than they did over 30 years ago, the disparity in pay for them compared to men has been stagnant.
Federal Reserve raises key interest rate by quarter-point
The Fed also warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions" and “weigh on economic activity, hiring and inflation."