The Federal Reserve's Vice President noted on Sunday that the U.S. economy is doing well, despite weak growth in worker output per hour. May interest rates rise?
Canada, like the U.S., released its jobs report for the month of June, and the results were somewhat grim. Canada lost 31,200 jobs and unemployment rose to 6.9%.
The most recent jobs for the month of July shows that the U.S. economy added 255,000 jobs. Despite this, the unemployment rate stayed stagnant at 4.9 percent.
Seagate Technology, a leading data storage provider, is cutting 6,500 jobs worldwide over the coming year. This reflects a wide cost-cutting measure.