The US gained 64,000 jobs in November but lost 105,000 in October; unemployment rate at 4.6%
WASHINGTON (AP) — The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration, the government said in delayed reports. The unemployment rate rose to 4.6%, highest since 2021. Both the October and November job creation numbers, released Tuesday by the Labor Department, came in late because of the 43-day federal government shutdown. Hiring has clearly lost momentum, hobbled by uncertainty over President Donald Trump’s tariffs and the lingering effects of the high interest rates the Federal Reserve engineered in 2022 and 2023 to rein in an outburst of inflation.
Trump orders blockade of 'sanctioned oil tankers' into Venezuela, ramping up pressure on Maduro
WASHINGTON (AP) — President Donald Trump says he is ordering a blockade of all “sanctioned oil tankers” into Venezuela, ramping up pressure on the country’s authoritarian leader Nicolás Maduro. The moves comes after U.S. forces last week seized an oil tanker off Venezuela’s coast, an unusual move that followed a buildup of military forces in the region. In a post on social media Tuesday night announcing the blockade, Trump alleged Venezuela was using oil to fund drug trafficking and other crimes. Venezuela’s government accused Trump of “violating international law, free trade, and the principle of free navigation” with “a reckless and grave threat.”
US tariffs are having an uneven effect on holiday prices and purchases
NEW YORK (AP) — Many U.S. consumers say they’ve noticed higher than usual prices for holiday gifts in recent months, according to a a December poll from The Associated Press-NORC Center for Public Affairs Research. A contributing factor is the unusually high import taxes the Trump administration put on foreign goods. While the worst-case consumer impact that many economists foresaw from the administration’s trade policies hasn’t materialized, some popular gift items have been affected more than others. Most toys and electronics sold in the U.S. come from China. So do most holiday decorations. Jewelry prices have risen due to the cost of gold.
World shares gain, while oil prices jump as Trump orders a blockade of oil tankers to Venezuela
BANGKOK (AP) — Shares have advanced in Europe and Asia as strong buying of technology shares helped lift some benchmarks, while the price of U.S. crude briefly surged more than 2% after President Donald Trump ordered a blockade of all “sanctioned oil tankers” into Venezuela. U.S. futures edged higher. On Tuesday, U.S. stocks drifted through a mixed day of trading after reports on the U.S. economy did little to clear up uncertainty about where interest rates may be heading. The S&P 500 slipped 0.2% and the Dow fell 0.6%. The Nasdaq composite rose 0.2%. Stocks of oil companies weighed on the market after the price for U.S. crude fell to its lowest level since 2021.
2 big rail unions oppose $85B Union Pacific-Norfolk Southern merger over safety and cost concerns
OMAHA, Neb. (AP) — The proposed $85 billion merger of the Union Pacific and Norfolk Southern railroads has lost the support of two of their biggest unions that represent more than half the workers because they are worried the deal would increase safety risks, lead to higher shipping rates and consumer prices and cause significant disruptions. The unions that represent engineers and maintenance workers will become two of the most prominent critics of this deal. But the deal does have the support of the nation’s largest rail union that represents conductors and hundreds of individual shippers. The U.S. Surface Transportation Board will begin weighing the opinions of all those stakeholders to determine whether this merger is in the public interest.
EU leaders prepare to take unprecedented steps to help Ukraine at a high-stakes summit
BRUSSELS (AP) — European Union leaders are about to attempt something unprecedented. They will weigh at a summit starting Thursday how to use frozen Russian assets to support Ukraine's economic and military needs. The stakes are high. Ukraine faces bankruptcy. The country needs billions by spring. The EU has pledged to find it funds for the next two years. The proposal involves using the frozen assets for a 90 billion-euro or $105 billion reparations loan. But several countries are unclear how it would work. Most of the assets are held in Belgium. It fears Russian reprisals and the clearing house holding the assets worries about its reputation. There is a plan B. But it holds little credibility as Hungary appears certain to veto it.
Retail sales unchanged in October hurt in part by a decline in auto sales
NEW YORK (AP) — Sales at U.S. retailers and restaurants were unchanged in October from September as consumers moderated their spending amid worries about higher prices and other economic uncertainties after splurging over the summer. But a big factor dragging down the figure was a 1.6% drop in sales at auto dealerships, hurt by the expiration of subsidies that sliced demand for battery-powered electric cars. Excluding that category, retail sales rose 0.4%, the Commerce Department said. Tuesday's report was delayed more than a month because of the 43-day government shutdown. The overall flat spending in October was less than economists expected and followed a revised 0.1% increase in September, the agency said. Retail sales jumped 0.6% in July and August and 1% in June.
What Americans think about giving cash as holiday gifts, according to a new AP-NORC poll
NEW YORK (AP) — A new AP-NORC poll finds that most U.S. adults are on board with giving cash or gift cards as holiday presents. Only 30% find secondhand gifts acceptable. The poll also shows that nearly half of Americans plan to be asleep before midnight on New Year's Eve. About 44% of adults won't stay up to greet 2026, and that's especially true of those over age 45. Additionally, 35% of adults plan to leave holiday decorations up after New Year's Day. About one-quarter of U.S. adults say they’re planning to watch sports on Christmas Day. Only 5% say they’ll go see a movie in a theater.
FAA head vows to maintain safety measures implemented after tragic DC plane crash
The head of the Federal Aviation Administration says he won’t forget the 67 people who died when an airliner collided with an Army helicopter over Washington, D.C., in January. Bryan Bedford says he won't allow operations in the airspace over the nation’s capital to revert back to the way they were before the crash. Bedford gave the House aviation subcommittee an update on a number of key concerns about his agency. Provisions in a major defense bill have been widely criticized by safety experts who say they will make flying riskier.
16 states sue Trump administration again over billions in withheld electric vehicle charging funds
DETROIT (AP) — Sixteen states and the District of Columbia are suing President Donald Trump’s administration for what they say is unlawfully withholding billions of dollars in funding for two electric vehicle charging programs. The lawsuit filed Tuesday in Washington state is the latest legal battle that several states are pursuing to receive funding for EV charging infrastructure that they say was obligated to them under former President Joe Biden.
