President Joe Biden lauded new data out Friday showing robust job growth in the last month.
Officials at the Federal Reserve are keeping a close eye on jobs numbers as they decide whether to implement another interest rate hike this fall. The Fed would like to see the market cool off and the labor market slow down to help decrease inflation back to the traditional 2% target.
Inflation has already fallen to about one third of what it was a year ago. Biden said Friday that the drop is attributable to his administration's economic policy. "Some experts said to get inflation under control, we needed higher unemployment and lower wages, but I've never thought that was the problem," Biden said."It's no accident. I came to office determined to build the economy in a different way, from the middle out and the bottom up."
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Travelers heading out for the Labor Day weekend, by car and planeLocally, the top five destinations for Southern California residents are; Las Vegas, San Diego, the Central Coast (Santa Barbara to Monterey), the Grand Canyon, and Mexico.
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Sunny skies and cooler temperatures expected heading into Labor Day weekendParts of the Inland Empire that experienced triple-digit weather last week can expect highs in the upper 80s on Friday and Saturday.
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Labor Day weekend travel forecast: What to know before hitting the road, heading to the airportLabor Day weekend travel is about to get underway. Here's what you need to know before hitting the road or heading to the airport.
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Airlines prepare for Labor Day weekend travel amid labor disputes, rise in flight turbulenceU.S. airlines are preparing for a busy Labor Day travel weekend, with some of them facing obstacles such as a rise in turbulence and labor disputes with union members. CBS News senior transportation correspondent Kris Van Cleave reports from Los Angeles International Airport.
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President Biden will be back in Philly to celebrate Labor DayPresident Joe Biden will be in Philadelphia on Labor Day for the AFL-CIO Philadelphia Council’s Tri-State Labor Day Parade and Family Fun Festival.
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