11 Democratic lawmakers ask Biden to dip into Strategic Petroleum Reserve to alleviate gas price hike
The Strategic Petroleum Reserve is stored in huge underground salt caverns at four sites along the coastline of the Gulf of Mexico and is the world’s largest supply of emergency crude oil.
California fast-food workers rally over wages, better working conditions
Fast-food workers in Southern California are joining hundreds of others across the state to rally over wages and better working conditions.
Biden's $1.85T spending package: What's in, what's out as House nears vote
What's in? What's out? Here's a look at the $1.85 trillion spending bill making its way through Congress.
October jobs report: US hiring rebounds with 531,000 jobs added
The October 2021 U.S. jobs report showed employers stepped up their hiring, adding a solid 531,000 jobs — the most since July.
West Hollywood approves highest minimum wage in country at $17.64 an hour
West Hollywood city leaders voted to approve the highest minimum wage in the country late Wednesday night.
US salaries grew more last quarter than they have in 2 decades
The Labor Department said Friday that pay increased 1.5% in the third quarter. That’s up sharply from 0.9% in the previous quarter.
US unemployment claims drop to pandemic low of 281,000
U.S. unemployment claims dropped by 10,000 to 281,000, the lowest since mid-March 2020.
Ports of LA, Long Beach to fine firms over container backlog
In an effort to ease congestion, the ports will start fining shipping companies whose cargo containers linger for too long at marine terminals.
California’s unemployment fraud reaches at least $20 billion
State officials blamed nearly all of that fraud on a hastily approved expansion of unemployment benefits by Congress that let people who were self-employed get weekly checks from the government with few safeguards to stop people from getting benefits who were not eligible to receive them.
Thanksgiving dinner may be more expensive as holiday staples in short supply
While most will likely be able to get their hands on a turkey for Thanksgiving this year, shoppers could be shelling out more cash for it as well as other holiday staples — largely due to supply chain bottlenecks.
Twitter CEO Jack Dorsey's dire warning: 'Hyperinflation' will soon 'change everything'
Twitter CEO Jack Dorsey has issued a warning about hyperinflation, saying it "is going to change everything."
California hiring slows in September; jobless rate at 7.5%
In California, new coronavirus cases are at their lowest point since the start of the pandemic, schools have fully reopened and the more generous unemployment benefits from the federal government have expired — all signs of what should have been a robust economic recovery in September.
US budget deficit reaches $2.77 trillion in 2021, its 2nd highest ever
The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion in 2020.
Super Bowl LVI expected to bring $477 million to LA economy
The Big Game is expected to bring in some big money for the City of Inglewood and Los Angeles.
US unemployment claims fall to 290,000, a new pandemic low
Unemployment claims in the U.S. reached another pandemic low last week, declining to 290,000.
Grocery shoppers feel the hit as food prices skyrocket nationwide
According to data from the Consumer Price Index, food prices rose 4.6% since September 2020. Meat prices were up 12.6%, fish and seafood prices rose by 10.7%.
Procter & Gamble combats inflation with price hikes in most categories
Procter & Gamble, like many other companies, has hiked prices on consumers in order to offset rising costs that have occurred due to supply-chain issues and a shortage of materials and labor coming out of the pandemic.
Millions of capable workers are choosing not to participate in the labor force
Where have all the workers gone? That is the perplexing question in much of the U.S. and especially here in the Golden State.
Treasury official claims inflation part of ‘economy in transition,’ only way out is 100% global vaccination
The comments are the latest in confusing, conflicting messaging on inflation from the Biden administration.
Climate change: US report targets economic risks from extreme weather
A new White House report addresses how the U.S. economy could be affected by climate change, including extreme heat, flooding, storms and wildfires.