2 states in a tug-of-war for workers that’s costing millions

Last week’s weak jobs report pushed interest rates lower, but the desire for mortgages was already on the rise.

JOLTS: 5.8 million job openings vs 5.7 million expected at end of April
There were 5.8 million job openings in April, beating analyst expectations of 5.7 million, and up from 5.76 million job openings in March.

‘Frightening’ number of unemployed have stopped looking for work
Nearly half of the unemployed have quit looking for work and the numbers are even worse for the long-term jobless.

Janet Yellen probably just signaled two rate hikes this year
If Janet Yellen has her way, there likely will be two rate hikes this year, contrary to current market expectations.

Fed chair: Here’s what we’re asking ourselves
Fed Chair Janet Yellen struck a generally positive tone on the U.S. economy — despite Friday’s weak jobs report.

Fed, again, left with egg on its face as recovery falters
All that hawkish Fed talk in recent weeks seemed kind of silly after Friday’s dismal jobs report.

Wait: The US may have actually LOST jobs in May
As if the May jobs picture wasn’t bad enough already, one economist said it was even worse.

This may bring on new handwringing about the economy
May’s weak jobs report may have sidelined some investors as they sort through what signals the economy is sending.

Fed’s Mester says gradual rate hikes still appropriate after jobs report
The latest jobs number has not changed the economic picture and gradual rate hikes remain appropriate, the Cleveland Federal Reserve President said.

Election angst dampening US economy
Uncertainty about the November election is hurting the U.S. economy, according to a survey.

Fed’s Rosengren points to nonfarms, hints at no June rate hike
Last month’s poor employment report might give the Federal Reserve pause, says Boston Fed President.

All eyes on Yellen for rate-hike signals after payroll shocks
Investors will be looking for signals from the Fed chair about the U.S. central bank’s next rate move after shockingly weak payroll data.

New fertile ground for tech jobs: The farm
A growing global population is fueling a hunger highly skilled workers for agriculture to help feed the world.

Charts: The real story on the unemployment rate
The Labor Department said that the unemployment rate is at 4.7 percent, but does that tell the whole story?

Mayday! Job growth plummets heading into summer
Job creation tumbled in May, with the economy adding just 38,000 positions amid conflicting signs of an economic recovery.

Odds for interest rate hikes plunge after major jobs report miss
The probability for a June rate hike plummeted Friday after a major miss in the May jobs report.

US layoffs hit five-month low of 30,157 in May: Challenger
U.S. job cutting falls significantly across several sectors.

Fed’s Tarullo says Brexit is factor in rate decision: Report
Britain’s exit from the EU would be a factor as policymakers weigh whether they should raise rates later this month, the Fed board governor said.

Jobless claims unexpectedly fall as labor market tightens
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell last week.

Jack Welch says Obama’s ‘wacky’ climate-change agenda hurts the US economy
Jack Welch calls President Obama’s heavy focus on climate change “radical behavior.”

Service sector accounted for all the job growth in May: ADP
The closely watched private payrolls count was right around expectations, with economists anticipating growth of 175,000

ISM mfg index expands in May, construction spending tumbles in April
U.S. Construction spending recorded its biggest decline in more than five years as outlays fell broadly, while manufacturing expanded.

Chicago business activity unexpectedly contracts in May
The Chicago Purchasing Managers Index fell unexpectedly in May, falling short of economists’ estimates.

Consumer confidence drags in May
Consumers were feeling less optimistic for the second month in a row, new data said Tuesday.

Consumer spending posts biggest gain in more than six years
Inflation also rose steadily, more signs of an acceleration in economic growth that could persuade the Fed to raise rates again as early as June.

President’s overtime pay plan threatens the ‘Prada’ economy
A federal rule could endanger a practice where assistants in fields like publishing and movies accept low wages for a kind of apprenticeship.

Economic growth revised up to just 0.8 percent
The revised gross domestic product was the weakest performance since the first quarter of 2015.

Fed’s Powell: Rate hike looking appropriate ‘fairly soon’
Federal Reserve Governor Jerome Powell said Friday an interest rate hike could be appropriate fairly soon.

US jobless claims fall more than expected last week
Filing for new benefits fell, as the labor markets remains healthy and the economy regains momentum after stumbling in the first quarter.

US durable goods for April surge on transportation
Orders for long-lasting U.S. manufactured goods surged in April on strong demand for transportation equipment.

Fed’s Bullard says markets have better reading now on chances of rate hike
Financial markets have a more appropriate reading now on the chances of a rate rise in June than before, the St. Louis Fed president on Thursday.

June interest rate hike appropriate unless data weakens: Fed’s Harker
The Fed should hike rates at a June meeting unless data show the U.S. economy is slowing, Philadelphia Fed President Patrick Harker said on Monday.

US economy THIS CLOSE to a June rate hike: Fed’s Rosengren
The U.S. is on the verge of meeting most of the conditions the Fed has set to hike rates in June, Boston Fed’s Eric Rosengren, tells The FT.

Fed’s Bullard sees tight US labor market putting upward pressure on inflation
A relatively tight labor market may put upward pressure on inflation, raising the case for higher interest rates, Bullard said on Monday.

Markets to Fed: You don’t have our blessing to hike yet, Fidelity expert says
Markets still haven’t given the Fed a green light to keep tightening, Jurrien Timmer of Fidelity Investments says.

Williams sees more aggressive Fed rate hikes next year
The Fed will likely tighten policy a bit quicker in 2017 than this year, by perhaps one or two more interest rate hikes, a top Fed official said.

Marc Faber: The Fed is obsessed with the stock market
The investor known as “Dr. Doom” says the Fed is ignoring untrustworthy economic data and simply watching stocks.

Drop in US jobless claims bolsters hopes of economic rebound
The number of Americans filing for aid fell last week, a sign that the economy is regaining speed after stumbling in the first quarter.

The Fed would be crazy to hike rates in June
The bond markets are pricing in a June rate hike. Here’s why the Fed should not pull the trigger, says Ron Insana.

Leading indicators tick up in April
A key economic measure increased in April, according to new data released by The Conference Board Thursday.

Bank of America wants the Fed to hike rates
It’s time for the Fed to hike rates, Bank of America executives say. It’s just not clear whether Janet Yellen agrees.

Fed likely to hike in June if data improve: Minutes
The Fed will likely raise interest rates in June if economic data points to stronger second-quarter growth.

Hawks make a stand at April Fed meeting, but doves still rule
Wall Street is entertaining the thought that rates may rise this year, though fear of the Fed remains at a minimum.

Rate hike odds spike across the board after Fed minutes
Expectations for a June rate hike rose as Federal Reserve meeting minutes showed that members would support it if the data improved.

Fed rate hike will juice economy, stocks: Jim Paulsen
The Fed has perpetuated fear on Wall Street, and once it raises rates it will boost the economy and stocks, Jim Paulsen says.

Mohamed El-Erian: The Federal Reserve is torn
Allianz’s Mohamed El-Erian weighs in on the Fed and the next rate hike.

US consumer prices post largest gain in three years
Consumer prices jumped as gasoline and rents rose, pointing to a steady inflation build-up that could give the Fed ammunition to raise rates.

US housing starts, building permits increased in April
Housing starts rose more than expected in April as builders ramped up the construction of single and multifamily homes.

Factory output jumps unexpectedly, boosted by machinery, auto production
U.S. factory output expanded in April, a sign that the country’s manufacturing sector was resisting the downward pull from sputtering global growth.

What slowdown? China’s about to go on a huge US shopping spree
China may be slowing, but investors will find ways to keep pumping money into the U.S., says a new report.

It’s ‘a disgrace’: This is how much more CEOs make than workers