Mixed Housing Data Signals Ongoing Drag on U.S. Economy
The housing sector is sending conflicting signals for the U.S. economy, as July’s 5.2% rebound in housing starts contrasts with declining sinking builder sentiment. Persistent affordability challenges, elevated mortgage rates, and rising material costs threaten to...
Cisco Eliminates 221 Workers in Bay Area
Cisco is laying off 221 workers in the San Francisco Bay Area, with 157 cuts in Milpitas and 64 in San Francisco, according to recent WARN filings. The layoffs, effective by mid-October, affect roles ranging from junior staff to vice presidents. The move comes despite...
Sewon America Invests $50M to Expand Rincon, Georgia Plant, Add 100 Jobs
Sewon America, a manufacturer of automobile body parts, will invest $50 million to expand its Rincon manufacturing plant, adding 98,250 square feet and creating 100 new jobs. The project marks the first supplier expansion tied to Hyundai’s Metaplant in Ellabell and...
Applied Digital to Build $3 Billion “AI Factory” in North Dakota
Applied Digital plans to break ground in September on Polaris Forge 2, a $3 billion “AI factory” near Harwood, North Dakota. The 280-megawatt data center campus will span more than 900 acres, employ over 200 full-time workers, and support future expansion as demand...
Austin Ranked No. 1 U.S. City for Economic Growth
Austin, TX has been ranked the No. 1 U.S. city for economic growth, according to a new Coworking Cafe study. From 2019 to 2023, the Texas capital recorded 51% GDP growth, fueled by job creation in tech, manufacturing, and professional services, along with a 71% surge...
Moody’s Economist: Nearly One-Third of U.S. at Risk of Recession
Moody’s Analytics chief economist Mark Zandi warned the U.S. is “on the edge of recession,” with nearly a third of the U.S. GDP already in or at high risk. He pointed to steep federal job cuts in the Washington D.C. region and flagged 22 states, including West...
From Dallas to San Antonio, 300 Jobs Cut in Latest Texas Layoff Wave
Texas is facing another wave of mass layoffs as companies scale back operations from San Antonio to Dallas. UPS is cutting 62 jobs in Dallas, CarOffer is eliminating 101 positions in Addison, TechWerks is laying off 87 employees in San Antonio, and Promises Behavioral...
Hyundai Raises U.S. Investment to $26 Billion
Hyundai Motor Group will boost its U.S. investment to $26 billion over the next four years, targeting steel, automotive, and robotics production. The plan includes a new low-carbon steel plant in Louisiana, increasing U.S. car production to 1.2 million units annually,...
Arkema Invests $60M to Modernize Kentucky Facility
Arkema is investing $60 million into its Calvert City, KY plant, which will shift its production from a phased-out refrigerant to Forane 1233zd, a lower global warming potential alternative with applications in cooling and insulation. The project will secure 250 jobs...
U.S Manufacturing Momentum Builds in August
U.S. manufacturing expanded at its fastest pace in three years, with the S&P Global PMI rising to 53.3 in August from 49.8 in July. There is also stronger demand, order growth, and stockpiling, leading to the sharpest hiring since March 2022. The reading points to...