Tag Archives: jobs

Robots could wipe out another 6 million retail jobs

Is the mall dead? Robots have already cost millions of factory jobs across the nation. Next up could be jobs at your local stores. Between 6 million to 7.5 million existing jobs are at risk of being replaced over the course of the next 10 years by some form of automation, according to a new study this week from by financial services firm Cornerstone Capital Group. That represents at least 38% of the current retail work force, which consists of 16 million workers. Retail could actually lose a greater proportion ...

Read More »

Brexit Britain is still creating jobs. How long can that last?

TransferWise CEO worries about Trump and Brexit The trickle of jobs leaving Brexit Britain has yet to turn into a flood. Several big financial services firms have announced they will move about 9,000 jobs out of the country in order to safeguard their business once the U.K. leaves the European Union. That is not yet showing up in employment data. The jobless rate was just 4.6% in the three months to March 31, according to data published Wednesday. But experts say there could be a much larger exodus of jobs ...

Read More »

Ford gets ready to cut jobs

Ford’s vision for the future Ford Motor is making plans to cut about 10% of its global staff, which could mean about 20,000 jobs worldwide, according to a published report. The Wall Street Journal reported the plans late Monday evening, citing people familiar with the proposal. The paper says that most of the jobs will be salaried workers who do not have union protection, rather than the 57,000 U.S. hourly staff who work on assembly lines. The company would not confirm or deny the report Monday, saying only that “reducing ...

Read More »

Department stores have lost more jobs than coal mines

America’s top retailers in trouble America’s long-standing love affair with shopping at malls and department stores may be nearing an end. “The traditional mall as we know it is doomed,” said according to Greg Portell, a retail consultant at A.T. Kearney. “When was the last time a mall closed that people missed, other than people the people who worked there?” And retail workers are taking a huge hit. Between 2001 and 2016, jobs at traditional department stores fell 46%, according to Labor Department data. That’s a much steeper drop than ...

Read More »

Tim Cook: Apple creating $1B fund to bring manufacturing jobs to the U.S.

Apple unveils new “spaceship” headquarters Apple CEO Tim Cook said Apple is putting $ 1 billion into a fund aimed at bringing advanced manufacturing jobs to the United States. Speaking on CNBC’s Mad Money on Wednesday, Cook boasted that Apple has already created two million jobs in America and said the company has plans to hire “thousands more employees in the future.” But Apple(AAPL, Tech30) is searching for ways to do more, Cook said. He called the $ 1 billion an “initial” donation to the fund and said he’s already ...

Read More »

More tech earnings; Jobs report; Berkshire's annual meeting

Investors eye Apple earnings 1. More tech earnings: Once again, it’s a big week for tech. Apple(AAPL, Tech30) is reporting second quarterly earnings on Tuesday, and Facebook(FB, Tech30) and Tesla(TSLA) are both reporting first-quarter earnings on Wednesday. Apple has a lot to live up to — after three straight year-over-year sales declines, the company finally started growing again in the first quarter. Since then, the tech giant’s stock hit an all-time high. Tesla’s also been having a good streak. In April, it inched past GM(GM) to become the most valuable ...

Read More »

Chinese firm creates jobs in Rust Belt county that voted for Trump

Chinese firm brings jobs to the U.S. A Chinese company is helping revive an Ohio town decimated by industrial decline. Tree-lined roads in Moraine used to be filled with cars driven by people heading to work at the region’s ubiquitous factories. Those factories are now shuttered and rusted. And most of the workers have packed up and left. “When all those jobs leave, it destroys a town,” said Shane Reffett, a local resident who grew up nearby. President Trump blames trade with China for destroying millions of U.S. manufacturing jobs ...

Read More »

Oil jumps on Syria strike; U.S. jobs; China talks

Click chart for in-depth premarket data. 1. U.S. strikes in Syria: Crude oil futures jumped more than 2% overnight to their highest level in a month after the U.S. Navy launched a missile strike on Syria. Prices eased back a little early Friday, with oil trading 1.3% higher. The U.S. fired 59 cruise missiles at a Syrian airbase in response to a chemical weapons attack that killed dozens of Syrian civilians earlier in the week. Syria is not a major oil exporter, but the U.S. military action creates additional uncertainty ...

Read More »

Reality check: U.S. manufacturing jobs at 1941 levels

Trump’s views on the jobs report come full circle President Trump likes to remind everyone that American manufacturers are giddy “like never before.” He fully expects that to translate into “jobs, jobs, jobs.” He’s likely to take another victory lap on Friday, when the Labor Department releases the latest data on U.S. jobs at 8:30am ET. CNNMoney’s survey of economists predicts a healthy 187,000 jobs were added in March (that’s actually the average monthly job gains achieved last year under President Obama). The unemployment rate is expected to stay at ...

Read More »