Latest news with #Hamrick
Epoch Times
29-04-2025
- Business
- Epoch Times
US Job Openings Slide to 6-Month Low, Layoffs Fall
Job vacancies declined sharply in March, but little change in new hires and layoffs signals that the U.S. labor market remains solid. The number of job openings tumbled by 288,000, to 7.192 million, the lowest in six months, according to the Job Openings and Labor Turnover Last month's number fell short of the consensus forecast of 7.48 million. Data indicate that the decrease in employment opportunities was broad-based, led by transportation, warehousing, and utilities (negative 59,000), accommodation and food services (negative 42,000), and construction (negative 38,000). Employment vacancies in the federal government also fell by 36,000. While the number of job openings has steadily declined since reaching the March 2022 peak of 12.1 million, other JOLTS metrics indicate the national labor market is intact. Related Stories 4/29/2025 4/28/2025 Job quits—a measure economists use to determine workers' confidence in finding a new position—increased by 82,000, to an eight-month high of 3.25 million. New hires were unchanged at 5.4 million, indicating employers are reluctant to expand their payrolls. Layoffs and discharges fell to 1.6 million, led by the retail trade (negative 66,000) and the federal government (negative 11,000). Mark Hamrick, a senior economic analyst at Bankrate, says the JOLTS report figures were compiled before President Donald Trump's sweeping tariff plans, so the latest labor dataset could suffer from a lagging effect. 'So, it runs the risk of being somewhat less meaningful given the level of volatility and uncertainty surrounding the economy,' Hamrick said in a statement to The Epoch Times. According to the latest Federal Reserve Meanwhile, 'It may be hard for a while but we need to do something before America goes bankrupt. This should have been done decades ago,' one small business owner said in the monthly survey. Other indicators, meanwhile, could present a snapshot of the broader U.S. labor market. Jobs, Layoffs, and Tariffs This week's main event will be the April jobs report on May 2. Economists anticipate the U.S. economy created 130,000 new jobs and the unemployment rate was unchanged at 4.2 percent. 'We acknowledge the high degree of economic uncertainty heading into the forthcoming April employment report, and beyond,' Hamrick said. 'That's another way of saying that we shouldn't be shocked by a surprise in the data. Still, expectations are worth noting.' Market watchers will also monitor payroll processor ADP's National Employment Report. Early estimates suggest the private sector added 108,000 new jobs last month. Global outplacement firm Challenger, Gray & Christmas will report on U.S.-based employers' planned job cuts. In March, employers announced 275,240 layoffs, the third-highest monthly total on record. The sizable figures were attributed to the Trump administration's plans to cut federal spending and downsize the government workforce. Meanwhile, jobless claims, a weekly gauge of the job market, have been stable. Last week, initial and continuing unemployment claims hovered around their 'The fact that unemployment has remained relatively low despite a significant decline in job openings is unprecedented,' said Cory Stahle, an economist at the Indeed Hiring Lab, in a In a separate Bureau of Labor Statistics Economic observers have expected seismic shifts in the U.S. labor market because of the new administration's cost-cutting efforts and policy changes, and these concerns have yet to appear in the hard data. Some say data in the coming months should present a clearer picture of how Trump's trade agenda is affecting the economic landscape. The first-quarter GDP growth rate will be released on April 30. According to the Federal Reserve Bank of Atlanta's GDPNow Model estimate, the U.S. economy contracted 1.5 percent after adjusting for gold imports and exports. Paul Ashworth, the chief North America economist at Capital Economics, says a spike in imports dragged down first-quarter growth, which could reverse in the current quarter. 'The reversal of that surge will have an offsetting effect in the second quarter, boosting growth to more than 2% annualised. Over the rest of 2025 and throughout 2026, however, we expect quarterly growth to slow to around 1.5% annualised,' Ashworth said in the Q2 2025 US Economic Outlook As the administration celebrates Trump's first 100 days in the Oval Office, Siebert Financial CIO Mark Malek says observing the next 100 days is crucial. 'For the most part, I think we've seen the worst. We've seen the extremes, in terms of the downside. I think markets now are having a much more positive bend on what's going to be happening in the next 100 days,' Malek said in a note emailed to The Epoch Times.
Miami Herald
13-04-2025
- Entertainment
- Miami Herald
Melanie Hamrick reveals the secret behind her ‘promise ring' from Mick Jagger
Melanie Hamrick is confirming what many have assumed for the past few years. The 37-year-old ballerina has been in a relationship with Rolling Stones frontman Mick Jagger, 81, for more than a decade, but has played coy in the past whenever asked if they would be getting engaged. In an interview with Paris Match, published April 9, Hamrick finally let the cat out of the bag. 'We've been engaged two or three years,' Hamrick said to the French publication, according to People — though she remained coy about what's next. 'Maybe one day we'll marry, maybe not. We are so happy in our current life that I would be too afraid to change anything,' she explained, according to People. Hamrick met Jagger in Tokyo in 2014 when the ballet group she was dancing with received tickets to a nearby Rolling Stones concert, according to The Sunday Times. The pair started dating several months later, per Today, and welcomed their first child together — a son named Deveraux Octavian Basil — in 2016. In addition to Deveraux, Jagger shares daughter Karis, 54, with actress Marsha Hunt, daughter Jade, 53, with ex-wife Bianca Jagger and son Lucas, 25, with model Luciana Morad Gimenez. He also shares four children — daughters Elizabeth, 41, and Georgia May, 33, and sons James, 39, and Gabriel, 27 — with ex-wife Jerry Hall. In her interview with Paris Match, Hamrick opened up about the couple's origin story. 'Maybe a spark, but nothing incredible, like, 'Come on, I'll blow your mind and we'll travel the world,'' she said when asked if sparks were flying after meeting Jagger, according to People. 'We didn't even exchange phone numbers. At the time, I wasn't in a relationship, but he was,' she told the outlet, according to People. Engagement rumors began swirling in 2023 after Hamrick was seen sporting a sparkling diamond on her ring finger. In a June 2023 interview with People, Hamrick confirmed that the ring was a gift from Jagger but stopped short of calling it an engagement ring. 'I mean, I have to giggle because did Mick give me the ring? Yes. Is it for that finger? Yes,' she told People at the time — describing herself as a 'live-in-the-moment type of person.' 'In my mind, it's a promise ring. We'll be immature and call it a promise ring,' she continued. Now nearly two years later, Hamrick is confirming that she is (and has been) engaged to Jagger. As for how they've kept their relationship so strong over the past 11 years, Hamrick credits the ongoing support they have for one another. 'We try to support each other, be there for each other, and make sure everyone is happy. That's all that matters to me and all I strive for,' she told Paris Match, according to People. As for the couple's 44-year age difference, Hamrick previously advised fans, followers and media members to 'mind their own business.' 'I don't think about it. Everyone's going to have their opinion,' she told The Times in September. 'If you think about others' opinions, no matter where you are in life, you're going to have a problem and you're going to analyze it,' she added.
Fox News
13-04-2025
- Entertainment
- Fox News
Mick Jagger engaged to 37-year-old Melanie Hamrick, but she says 'maybe' to marriage
Mick Jagger's longtime partner Melanie Hamrick revealed she has secretly been engaged to the Rolling Stones frontman for years. During a recent interview with the French magazine Paris Match, the 37-year-old former ballerina shared the news of her engagement to the 81-year-old rocker. "We've been engaged two or three years," Hamrick said, via an English translation of the article published Wednesday. However, Hamrick told the outlet she is uncertain whether she and Jagger will ever tie the knot. "Maybe one day we'll marry, maybe not. We are so happy in our current life that I would be too afraid to change anything," the "First Position" author said. In 2016, Hamrick and Jagger, who began dating in 2014, welcomed son Deveraux "Devi" Octavian Basil Jagger, the "Paint It, Black" singer's eighth child from a fifth partner. While reflecting on the secret to their successful relationship, Hamrick said she and Jagger "try to support each other, be there for each other and make sure everyone is happy." "That's all that matters to me and all I strive for," she added. In June 2023, the pair first sparked engagement rumors when Hamrick showed off a diamond ring on her wedding finger. During an interview with People magazine at the time, Hamrick confirmed the ring was a gift from Jagger but remained coy about its potential meaning. "I mean, I have to giggle because did Mick give me the ring? Yes. Is it for that finger? Yes," she told the outlet. "But are we, like, horny teenagers where we're giving each other … In my mind, it's a promise ring. We'll be immature and call it a promise ring." "Maybe one day we'll marry, maybe not. We are so happy in our current life that I would be too afraid to change anything." Hamrick also shared her thoughts on whether she ever wants to get married. "I don't know," she says. "I'm kind of, like, a live-in-the-moment type of person, so who knows?" Jagger has been married once before. The four-time Grammy Award winner and Bianca Jagger tied the knot in 1971, but they split in 1978. The former couple share daughter Jade Sheena Jezebel Jagger. The singer's other children include Karis Hunt Jagger with actress Marsha Hunt; Elizabeth Scarlett Jagger, James Leroy Augustin Jagger, Georgia May Ayeesha Jagger and Gabriel Luke Beauregard Jagger with Jerry Hall; and Lucas Maurice Morad Jagger with Luciana Gimenez Morad. Jagger and Hamrick first met backstage at a Rolling Stones concert in Tokyo in February 2014. At the time, Hamrick was also touring Japan as a dancer with the American Ballet Theatre. When asked if their meeting was "love at first sight," Hamrick told Paris Match, "Maybe a spark, but nothing incredible, like, 'Come on, I'll blow your mind, and we'll travel the world.' We didn't even exchange phone numbers. At the time, I wasn't in a relationship, but he was." One month after they met, Jagger's longtime girlfriend, fashion designer L'Wren Scott, died by suicide. After her death, Jagger wrote how he was "struggling to understand how my lover and best friend could end her life in this tragic way." Hamrick told Paris Match she and Jagger reconnected five months after they first met. She recalled that a mutual acquaintance gave her phone number to Jagger, who invited her to join him for coffee. The two then embarked on a romance after meeting again in Zurich. In September 2024, Hamrick insisted to The Times she wasn't starstruck by the famous musician. "Ballet dancers meet some of the biggest stars and act, like, 'Who are you?' Because, to us, ballet dancers are the gods. That's who you study and look up to. You're so in your world," Hamrick said. While Jagger isn't in the ballet realm, she said, "Mick is the perfect balance. He's not a ballet dancer, but he is a dancer and a performer, and we understand each other's worlds, yet we're not in each other's worlds." Hamrick also told the outlet she doesn't waste any time thinking about the couple's 44-year age gap. "I don't think about it. Everyone's going to have their opinion," she said. "If you think about others' opinions, no matter where you are in life, you're going to have a problem, and you're going to analyze it. "I put the blinders on. Am I happy? Yes. Are the people in my life happy? Yes. Am I hurting anyone? No. OK, they can mind their own business."
Yahoo
10-04-2025
- Business
- Yahoo
Stocks soar 10% in a stunning rally after Trump pauses trade war
US stocks staged a stunning rally after President Trump announced a 90-day tariff pause The Dow Jones gained almost 3,000 points, while the Nasdaq rallied 12% While Trump said he would pause tariffs for some countries, he said he would increase China's tariff rate to 125%. He got the message. After cratering for days amid extreme volatility brought on by the trade war, US stocks staged the biggest rally in years on Wednesday after President Trump announced a 90-day tariff pause for some countries. The S&P 500 soared as much as 9%. It was the biggest gain for the benchmark index since 2008. The Dow surged by almost 3,000 points, and the Nasdaq Composite rallied 12% for its best day since 2001 and its second-largest increase ever. Here's where indexes stood at the 4:00 p.m. ET. closing bell on Wednesday: S&P 500: 5,456.68, up 9.5% Dow Jones Industrial Average: 40,607.46, up 7.87% (+2961.87 points) Nasdaq composite: 17,124.97, up 12.1% "I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," Trump said in a post to Truth Social. In the week since he unveiled sweeping tariffs, Trump has faced mounting backlash from billionaires, companies, and investors, all while insisting that the market crash was akin to taking medicine. Now, the president seems to be responding to the deep fears that his trade war has drummed up, with top voices like Jamie Dimon and big backers like Bill Ackman sounding the alarm on the potential damage to the economy Investors were jubilant. "This is the pivotal moment we've been waiting for. The immediate market reaction has been overwhelmingly positive, as investors interpret this as a step toward much-needed clarity. The timing couldn't be better, coinciding with the start of earnings season," said Gina Bolvin, President of Bolvin Wealth Management Group. "This pause may provide companies with a clearer backdrop for their guidance, offering some relief to a market hungry for direction." However, the trade war isn't paused for everyone. Trump said he was raising the tariff rate on China to 125% from 104% due to a "lack of respect." According to Mark Hamrick, senior economic analyst at Bankrate, the focus has shifted to trade deals. "Something akin to a worst-case scenario has been delayed, if not averted," Hamrick said in an e-mail to BI. "Now, the focus turns to what happens with scores of countries including China." The big takeaway, according to Hamrick, is that fears of an imminent recession and spike in inflation can be "dialed down a bit." The sudden pause in Trump's trade war also caused recession forecasts to whipsaw. After ramping up its call for a downturn, Investors are buying first and asking questions later. These were some of the biggest movers within the S&P 500. United Airlines: +28% Microchip Technology: +28% Delta Air Lines: +25% ON Semiconductor: +21% Advanced Micro Devices: +23% Tesla: +22% The enormous reversal came amid what had looked to be another day of withering volatility in the stock market as investors navigated trade war uncertainty. Investors' worries on Wednesday were twofold: that the trade war was showing no signs of de-escalating and the bond market was showing signs of intense stress. China and The European Union each announced retaliatory tariffs, ratcheting up tensions with the US. Meanwhile, Treasury bond yields surged, with the 10-year reaching an intraday high of 4.51%. The 10-year US Treasury yield is up nearly 50 basis points since last week. Bank of America said the surge in Treasury yields served as a "confidence test" for investors, as concerns about higher inflation and a potential deficit spike linger. Read the original article on Business Insider
Buzz Feed
03-04-2025
- Business
- Buzz Feed
Welp, Trump's Tariffs Are Here. I Asked An Economic Analyst What To Expect.
Hot Topic 🔥 Full coverage and conversation on Politics On Wednesday, President Trump announced sweeping tariffs at a minimum of 10% and up to 54% on imported goods from over 180 countries around the world (including, for some reason, islands populated only by penguins). Trump hyped the tariffs by calling April 2 "Liberation Day" and billed his White House Rose Garden announcement as a "Make America Wealthy Again" event. So, what does this news mean for the average American? To learn more about how the Trump tariffs could hit your budget, I spoke with Mark Hamrick, Washington Bureau Chief and Senior Economic Analyst at Bankrate. Here are 8 things you need to know about the new Trump tariffs: 1. First, Hamrick explained that the tariffs are expected to raise prices on all kinds of goods. However, the impact of tariffs may not stop there. Hamrick told BuzzFeed, "Economic observers are in wide agreement that the immediate impacts of import taxes, which are tariffs, raise prices, can lower corporate profitability, and can have the ultimate effect of inflaming inflation and dampening growth, which then can feed on through to the job market." We're still stuck with stubbornly high prices after pandemic-era disruptions drove worldwide inflation, so the idea of paying even more for basic essentials sounds about as fun as getting a root canal every day, but here we are. 2. Then, Hamrick said that the tariffs have raised the risk of a recession in the next 12 months from one in four to above one in three. A recession is generally defined as a broad and significant downturn in the economy with two or more quarters of negative GDP growth. During a recession, the job market tends to get tougher as more people lose their jobs and consumer spending slows down. In the US, we most recently experienced a recession in 2020 due to COVID-19, and before that, in 2008, following the crash of the housing market. 3. One of the places where you're likely to start noticing even higher prices is at the grocery store. VCG / VCG via Getty Images Hamrick said, "We should brace for higher food prices in the sense that we import a lot of, for example, fruits and vegetables from Canada and Mexico. There are just some things, broadly, including food that either we cannot or do not produce in this country." Food items like bananas, avocados, chocolate, and my BFF coffee are expected to get more expensive as the tariffs go into effect. 4. Grabbing some takeout or eating a meal out at a restaurant will likely get more expensive, too. Hamrick noted that going out to eat has continued to creep up in price, even before the tariffs, because restaurant owners have so many different expenses to think about, from rent and taxes to labor and food prices. But as the tariffs drive food prices up, "all those food prices then have to be passed along." 5. Many other things you might want or need to buy are manufactured outside the US, so prices are likely to rise on everything from shoes and clothing to smartphones and cars. Though Trump has touted his tariffs as a way to bring manufacturing back to the US, Hamrick said, "We just don't have the production capacity in the United States to flip a switch." This means that the things we don't currently make here are going to cost more as the tariffs begin to take effect. 6. If you take any prescription medications, you might want to look into where they're manufactured, because tariffs could make your meds cost more, too. Trevor Williams / Getty Images Hamrick cautioned that tariffs have the potential to impact other healthcare costs, depending on how the healthcare industry handles them. "If, indeed, the insurers, pharmacy benefit managers, etc, pass along those increases, then the cost of insurance could go up as well." 7. If you value your mental health, maybe don't look at your 401(k) balance today. Falling stocks are reducing the value of retirement investments, but depending on how close you are to retirement, you might not need to worry right now. For people who are further away from retirement, stock market dips are less of a concern because we'll have more time to make up for any losses. Plus, if you're able to continue contributing to a 401(k) or IRA during a downturn, your contributions will buy more stocks, bonds, etc. while prices are low, which can lead to gains when the market eventually rebounds. For people who are closer to or currently in retirement, however, this might be a good time to talk with an investment advisor who can help you protect your nest egg. Hamrick strongly advised against trying to DIY rebalancing your portfolio right now. He said, "You have to be right twice. That's being right on the timing of when you get out and being right on the timing of when you get in, and that generally is something that's not possible on the part of mere mortals." 8. Sorry to be the bearer of even more bad news, but once prices go up, they're not likely to come all the way back down. "There's more elasticity with prices going up than there tends to be both in speed and magnitude going down," Hamrick said. "We see that all the time, whether it's gasoline prices or other things." To put it another way, prices go up quickly like they're in an elevator, and when (or if) they go down, it tends to be more slowly, like they're taking the stairs. Plus, it's still too early to predict how much manufacturing might move to the United States vs. how much we might shift to buying goods from countries with lower tariffs. And then there's the possibility of more chaos ahead if the administration decides to issue even more new tariffs after buying patterns change.
