The Latest Breaking News from Labor Department

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The SPDR S&P 500 ETF Trust SPY (NYSE: SPY) traded lower by 0.6% on Wednesday morning after the Labor Department reported an 8.3% increase in the consumer price index in the month, indicating inflation remains near 40-year highs.

The S&P 500 traded lower in a roller coaster week on Wall Street as investors digested another Federal Reserve interest rate hike and a mixed batch of earnings reports.

Washington (AFP) - From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 0.5% Friday morning after the Labor Department reported strong U.S. jobs market numbers from April.

For the past year, America’s job market has run like a well-engineered machine, adding an impressive average of 540,000 workers a month despite a punishing inflation rate, Russia’s ruinous war against Ukraine, a still-risky pandemic, jittery financial markets and the prospect of much higher borrowing costs

More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years

The stock market gained as investors await the outcome of the Fed's two-day meeting and digest a report signaling a tight labor market.

Starbucks workers have driven a surge in union election petitions filed with the National Labor Relations Board. Unionizing has also picked up at colleges, non-profits and pot dispensaries.