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- PoliticsCNBC•22 hours ago
A Mexican official from the city that just lost out on 1,000 jobs it expected to take from an Indiana Carrier plant says that Donald Trump is "telling the truth" when he rails against U.S. job losses . Jaime Garcia Astorga, secretary of economic development of Santa Catarina in the state of Nuevo Leon, told CNBC on Friday that "nobody" believed the president-elect was serious when he "made a lot of declarations" to voters about keeping U.S. jobs in the United States. This is a learning lesson for our state," said Garcia.
- BusinessCNBC•19 hours ago
That's the number of Americans now counted as not in the labor force, a historic high that has confounded economists and policymakers. The jump occurred as the U.S. economy added 178,000 jobs and the headline unemployment rate dropped sharply. Explaining the consistent increase in those leaving the labor force is complicated, with factors divided between an aging and rapidly retiring workforce, a skills gap that leaves job openings unfilled, and the nettlesome problem of too many people who find it's just easier to collect welfare and other transfer payments rather than go back to work.
- BusinessMarketWatch•14 minutes ago
The number of subprime auto loans sinking into delinquency hit their highest level since 2010 in the third quarter, with roughly 6 million individuals at least 90 days late on their payments. It’s behavior much like that seen in the months heading into the 2007-2009 recession, according to data from Federal Reserve Bank of New York researchers. “The worsening in the delinquency rate of subprime auto loans is pronounced, with a notable increase during the past few years,” the researchers, led by Andrew Haughwout, said Wednesday in a blog on their Liberty Street Economics site. Weakness among the lowest-rated borrowers plays out against a robustly growing vehicle lending market. Originations of