AI eliminated nearly 4,000 jobs last month, report says
A report of U.S. job cuts showed roughly 5% of job losses in May were due to AI technology.
A report of U.S. job cuts showed roughly 5% of job losses in May were due to AI technology.
According to the U.S. Labor Department, 339,000 jobs were added in May, much more than the 190,000 predicted by some economists. The unemployment rate rose to 3.7%. Lori Bettinger, president of BancAlliance and the former director of the TARP Capital Purchase Program at the Treasury Department, joins CBS News with her analysis of the numbers.
Big pay hikes from switching jobs, a key trend that drove the Great Resignation, is unwinding, a new analysis finds.
With the youth unemployment rate at a 70-year low, this year's crop of new graduates is likely to have an easier time getting hired.
Santos allegedly claimed almost $25,000 in jobless aid while earning $120,000 annually, according to federal prosecutors.
Economic data released Thursday shows that U.S. wholesale price increases decelerated in April and unemployment claims increased in the week ending May 6. Meanwhile, Treasury Secretary Janet Yellen warns that if the U.S. defaults on its debt, it could threaten the global economy. Jeanna Smialek, a Federal Reserve and economy reporter at the New York Times, joins CBS News to discuss.
The U.S. added 253,000 jobs in April, according to a report released Friday by the Labor Department, well above estimates from economists. Unemployment also fell to 3.4%, and wages were also higher. Ed O'Keefe has the details.
Javier David, a CBS News contributor and managing editor for business and markets for Axios, and Jeanna Smialek, an economics reporter for The New York Times, join us to discuss the latest financial news, including the April jobs report released today, the Federal Reserve's decision to raise interest rates again this week, and the health of the nation's banking system.
Fearing an imminent recession, corporate employers are pulling back on hiring in a range of professional fields.
The stock market closed in positive territory Thursday despite the latest GDP report from the the Commerce Department showing that the economy grew at an annual rate of only 1.1% in the first quarter of 2023. Lori Bettinger, president of BancAlliance, spoke with CBS News about what the latest GDP figures mean for investors and consumers going forward.
The nation's gross domestic product grew at an annual rate of 1.1% in the first quarter of 2023, lower than what economists expected. But, the latest jobs report shows unemployment claims fell by 16,000. Ben Eisen, a reporter for the Wall Street Journal, joined CBS news to parse through the latest numbers.
CEO Jonah Peretti wrote in a memo that "the company can no longer continue to fund BuzzFeed News as a standalone organization."
J.D. Durkin, host of "TheStreet," and Jacob Bogage, business reporter for The Washington Post, joined CBS News to discuss Friday's report of strong first quarter earnings for big banks. They also reacted to the latest unemployment numbers, and strong sales for Burger King.
The latest jobs report from the U.S. Labor Department showed unemployment in March at just 3.5%. Americans remain concerned over the ongoing impact of incessant inflation amid high interest rates, with the average American spending more than $700 on a new car. Michael George has more.
Despite nine federal rate hikes over the past year, the U.S. added 236,000 jobs in March, according to the latest data from the Labor Department. CBS News senior investigative correspondent Catherine Herridge broke down the latest jobs report with Lori Bettinger, BancAlliance president and former director of the Troubled Assets Relief Program .
Tennessee's Republican-controlled state House expelled two of the three Democratic members involved in protests for gun reform on the chamber floor last week. CBS News senior White House correspondent Weijia Jiang joins us with more on the Biden administration's response.
Sarah House, a senior economist for Wells Fargo, joins CBS News' Vladimir Duthiers and Errol Barnett to discuss the March 2023 jobs report, what it means for the economy and how it could impact the Federal Reserve's future decisions on interest rates.
Employers added 236,000 jobs last month, and the nation's unemployment rate fell to 3.5%.
The latest jobless claims report reveals first-time filings fell by 18,000 to 228,000 for the week ending April 1. CBS News' Errol Barnett and Lana Zak are joined by Axios economics reporter Courtenay Brown with more on the findings.
As the Fed continues hiking interest rates, weaker hiring and mounting layoffs suggest the U.S. job market is softening.
Federal data shows there are more than 10 million job openings across the U.S. But a new report shows not all of those jobs really exist. CBS MoneyWatch associate managing editor Irina Ivanova joined Errol Barnett and Lana Zak to discuss.
Plentiful job listings show an overheated hiring market — but many are duplicates or fake, say economists and recruiters.
A better-than-expected jobs report was released yesterday and touted by President Biden as a sign of economic progress. There was a jump in unemployment, even as jobs were added. Christina Ruffini has more.
The Bureau of Labor Statistics released its jobs report for February. It shows 311,000 jobs were added last month and that the unemployment rate rose to 3.6%. CBS News contributor and Axios managing editor for business and markets Javier David joins Vladimir Duthiers and Shaunelle Kaul to discuss.
The U.S. job market has remained robust despite the Federal Reserve's concerted push to slow economic growth.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
Footage from the accident site showed bodies lined up on tracks and the injured being shifted to hospitals while rescuers desperately looked through the overturned and jumbled metal train compartments.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September.
Tupelo Fire Department Sergeant Michael Moody confirmed the deaths to CBS News.
Rights groups have condemned the government crackdown, which has included arbitrary arrests and restrictions on social media.
It was the first deadly exchange of fire along the Israel-Egypt border in over a decade.
The father is also a person of interest in the disappearance of the mother, who was last seen in 2019, authorities said.
Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
The father is also a person of interest in the disappearance of the mother, who was last seen in 2019, authorities said.
Tupelo Fire Department Sergeant Michael Moody confirmed the deaths to CBS News.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
A report of U.S. job cuts showed roughly 5% of job losses in May were due to AI technology.
Allstate and others say thousands of natural disasters in recent years have made the state too expensive to cover.
AI has a place in the profession, but is currently limited in its capabilities, a Texas judge said.
The symbolic vote on executives' multi-million dollar pay packages comes amid an ongoing writer's strike.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
The recording — from a July 2021 meeting at Trump's golf club in Bedminster, New Jersey — is a crucial piece of evidence that prosecutors obtained in recent months.
The Republican National Committee also set the rules for the first GOP primary debate of the 2024 presidential cycle.
The Biden-Harris campaign plans to make addressing gun violence a key focus of President Biden's reelection effort.
Companies hid evidence of PFAS' link to dead dogs, enlarged livers and birth defects, according to researchers.
Sweden, which has the lowest rate of smoking in the Europe Union, is close to declaring itself "smoke free."
At least 102 were hospitalized in December, nearly double an earlier peak.
The warnings - in English and French - include "poison in every puff," "tobacco smoke harms children" and "cigarettes cause impotence."
The decline in births is "a very small difference" from the year before.
Rights groups have condemned the government crackdown, which has included arbitrary arrests and restrictions on social media.
It was the first deadly exchange of fire along the Israel-Egypt border in over a decade.
Footage from the accident site showed bodies lined up on tracks and the injured being shifted to hospitals while rescuers desperately looked through the overturned and jumbled metal train compartments.
Images broadcast on local stations showed smashed train compartments torn open with blood-stained holes of twisted metal, and scores of passengers lying beside the tracks.
CIA Director William Burns traveled secretly to Beijing last month, becoming the most senior U.S. official to visit China since the U.S. shot down a Chinese surveillance balloon.
Lyricist Cynthia Weil, who with her husband Barry Mann was half of one of the most successful songwriting teams in New York's fabled Brill Building, and who wrote or co-wrote hits for such artists as Neil Diamond, Linda Ronstadt and Lionel Richie, died June 1, 2023, at age 82. In this "Sunday Morning" profile that aired February 8, 2015, Weil and Mann talk with correspondent Rita Braver about their love-hate competition with Carole King (dramatized in the musical "Beautiful"), and about creating such classics as "On Broadway" and "You've Lost That Lovin' Feelin'."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "I Feel the Love."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "Hurricane Coming."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "Feels Like Rain."
The star of the improv show and longtime partner of DC Young Fly reportedly died in Miami on Wednesday.
Artificial intelligence will likely remake the workplace. A recent analysis from Goldman Sachs looked at the global impact, and found that AI could replace 300 million full-time jobs. Futurist Martin Ford joined CBS News to discuss the jobs he believes AI likely won't take, and what you can do if you're concerned your job may be replaced.
It's important to practice good "cyber hygiene" to prevent hackers, and even employees, from accessing sensitive information.
Financial watchdog urges consumers who keep funds with a digital app to transfer the money to an insured bank account.
In a new documentary, CBS Reports explores the unleashing of artificial intelligence, a rapidly evolving technology. Entrepreneur João Santos, who created AIsthetic, an apparel company using CHatGPT as the CEO, joins CBS News.
Owner of Facebook and Instagram could bar users in the state from sharing news over bill requiring tech companies to pay news publishers.
In the last century, only two wolverines were spotted in California.
Arizona is limiting new construction around Phoenix as the state's water supply continues to dwindle. State officials say there isn't enough groundwater for housing construction that's already been approved. CBS News senior national and environmental correspondent Ben Tracy has more.
A litter of six red wolf pups, a highly endangered species of which there are only about two dozen in the wild, was born at the Great Plains Zoo in South Dakota on Thursday.
The Atlantic hurricane season has officially begun and forecasters are already watching some activity in the Gulf. CBS News senior weather and climate producer David Parkinson joins with a preview of the season, and national correspondent Manuel Bojorquez investigates Florida's flood insurance crisis.
Officials say it "looks weird," and could have been an accident - or a protest over new environmental restrictions on diesel trucks hauling heavy loads.
See the details of the bizarre case.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
The shooting happened in the same county where a sheriff was shot to death in 2013.
A man killed at least three people during a violent rampage in the Northern California cities of Milpitas and San Jose, police said.
Seven inmates escaped, but most were recaptured within hours. The remaining escapee should be considered "armed and dangerous," police said.
In a first of its kind event, the European Space Agency on Friday livestreamed images of Mars in what it called an opportunity "to get as close as it's currently possible" to the Red Planet.
Around the world, people can catch a sweet treat in the night sky this weekend.
Up until Friday, all images seen of the planet were technically of its past.
A new launch target was not announced, but Boeing officials said a flight this year is still feasible. In theory.
Scientists first made a brightness map of the exoplanet, then a temperature map of the atmosphere.
See the details of the bizarre case.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
Vero Beach Police investigators focused on cellphone tower pings and surveillance footage cameras to catch a man who murdered his former girlfriend.
The artificial intelligence revolution has arrived. AI tools such as ChatGPT offer the power to transform fields like business, art, medical research and more. But this technology also brings ethical uncertainty and peril. CBS Reports explores the unleashing of this still rapidly evolving creation and some of the possible dangers.
Two people were killed when a small plane crashed and caught fire near an airport in Tupelo, Mississippi, on Saturday.
Some U.S. company leaders are calling for their remote workers to return to the office. Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September. Carter Evans has more.
Peter Henrikson, a carpenter from Minnesota, is using his woodworking skills to help rebuild Paris' famous Cathedral of Notre Dame four years after a fire tore through the roof of the historic structure.
June is Pride month, a celebration of LGBTQ life. But after years of hard-won civil rights gains for the LGBTQ+ community, there is a backlash that includes violence and tests of corporate commitment. Elise Preston has more.