In the rough and tumble world of restaurants, Jeremy Hardy considers himself something of a survivor.
Hardy's restaurant, Coastal Kitchen, has been a fixture of Seattle's Capitol Hill neighborhood for 20 years. Notoriously low-margin businesses, restaurants have a high failure rate. Hardy says even in good times, running one is like juggling with clubs.
"With the labor pressures that are coming from this $15 eventual minimum-wage increase, we are juggling with razor-sharp daggers," Hardy says. "And if you don't get it right, it's really going to hurt."
The price of iron ore has crashed recently — from more than $190 a ton in 2011, to about $60 today. Iron ore is the key ingredient in steel, and global demand for it, especially in China, is way down. That's being felt far away in northern Minnesota.
Miners have clawed iron ore out of northern Minnesota for more than a century. The Iron Range, as it's known, is pockmarked with deep abandoned pits carved out of the red earth.
Look at the oil business and you'll notice it's mostly men. That's a problem for an industry that needs legions of new workers to replace retirees in coming years.
The industry hasn't always treated women fairly, but now it needs them.
The oil business just 30 years ago was a lonely place for the few women who chose to work in it. Rayola Dougher, senior economic adviser at the American Petroleum Institute, says attending industry conferences made that clear.
The Labor Department's latest report shows employers created 223,000 jobs in April and the unemployment rate went down another notch to 5.4 percent.
But study the wage figures in Friday's report — and your "yay" turns to "meh."
Workers got raises of just 0.1 percent in April. Over the past year, wages advanced only 2.2 percent, a pace that amounts to treading water for most families. The average workweek has stalled at 34.5 hours, unchanged from the previous month — and from a year ago.
The Nike Corp. says the lower tariffs promised by a proposed Asia-Pacific trade deal would allow it to speed up development of advanced manufacturing, supporting up to 10,000 domestic jobs over the next decade.
The announcement comes as President Obama visits Nike headquarters to promote the trade deal known as the Trans-Pacific Partnership, or TPP. Critics have questioned the Beaverton, Ore., backdrop, noting that Nike currently manufactures virtually all of its shoes and apparel in low-wage countries such as Vietnam.
The U.S. economy added 223,000 jobs in April, hewing close to expectations from economists, but the numbers fell short of a threshold that forecasters believe would signal an early rise in interest rates.
The unemployment rate dipped to 5.4 percent, according to data released by the U.S. Labor Department's Bureau of Labor Statistics.
Upscale grocery store chain Whole Foods (often referred to as "Whole Paycheck" because of its high prices) announced this week that it's launching a new offshoot brand — with lower prices — to appeal to younger, millennial shoppers.
Walter Robb, co-CEO of Whole Foods, says it will be a "uniquely branded store concept unlike anything that currently exists in the marketplace" with "value prices ... a modern, streamlined design, innovative technology and a curated selection."