Still hiring! Walmart, other superstores buck U.S. employment trend

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WASHINGTON (Reuters) – Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N), the world’s largest retailer, added more than 90,000 jobs.

FILE PHOTO: Caution tape hangs at the entrance of a temporarily closed Walmart store, where a number of employees tested positive for the coronavirus disease (COVID-19) and one employee died, in Quincy, Massachusetts, U.S., May 5, 2020. REUTERS/Brian Snyder

Overall, roughly 20.5 million people lost their jobs in April, the U.S. Labor Department said on Friday, a wipeout of jobs at a rate not seen since

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Interest rates to be kept near zero until full employment, inflation come back

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The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet.

Following this week’s Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0% and 0.25%. 

“The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term,” the committee said in its post-meeting statement. “The Committee expects to maintain this

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U.S. services sector growth slows; employment drops: ISM

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FILE PHOTO: A woman walks through the financial district of New York City, U.S., October 16, 2018. REUTERS/Brendan McDermid

WASHINGTON (Reuters) – U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop.

The Institute for Supply Management (ISM) said on Friday its non-manufacturing activity index fell to a reading of 52.5 last month, the lowest since August 2016, from 57.3 in February.

A reading above 50 indicates expansion in the services sector, which

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