ECONOMY

PANEL OF JUDGES SAYS A FIRST AMENDMENT CHALLENGE TO MARYLAND’S DIGITAL AD TAX SHOULD BE CONSIDERED

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Photo Credit: AP

A federal appeals court directed a lower federal court on Wednesday to consider the merits of a challenge to Maryland’s first-in-the-nation digital advertising tax on First Amendment grounds, while agreeing that three other challenges should be dismissed.

It’s a law that attorneys for Big Tech have contended unfairly targets companies like Facebook, Google and Amazon. The legal case is being closely watched by other states that have also weighed a similar tax for online ads.

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US JOB OPENINGS FELL SLIGHTLY IN NOVEMBER BUT REMAIN HIGH BY HISTORICAL STANDARDS

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Photo Credit: Ted Shaffrey

America’s employers posted 8.8 million job openings in November, down slightly from October and the fewest since March 2021. But demand for workers remains strong by historical standards despite higher interest rates.

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US APPLICATIONS FOR JOBLESS BENEFITS RISE BUT LABOR MARKET REMAINS VERY HEALTHY

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Photo Credit: Nam Y. Huh

More Americans applied for unemployment benefits last week, but not enough to raise concern about the labor market or broader economy.

Jobless claims rose to 218,000 for the week ending Dec. 23, an increase of 12,000 from the previous week, the Labor Department reported Thursday. The four-week average of claims, which smooths out week-to-week ups and downs, fell by 250 to 212,000.

Overall, 1.88 million Americans were collecting jobless benefits during the week that ended Dec. 16, an increase of 14,000 from the previous week.

Weekly unemployment claims are a proxy for layoffs. They have remained at extraordinarily low levels in the face of high interest rates.

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WEEKLY US UNEMPLOYMENT CLAIMS RISE SLIGHTLY BUT JOB MARKET REMAINS STRONG AS INFLATION EASES

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Photo Credit: Nam Y. Huh

The number of Americans applying for unemployment benefits rose slightly last week but still remained at historically low levels despite high interest rates intended to slow hiring and cool the economy.

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FEDERAL RESERVE EXPECTS TO CUT INTEREST RATES NEXT YEAR, FED CHAIR JEROME POWELL SAYS

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Photo Credit: Justin Sullivan/Getty Images

The Federal Reserve expects to begin cutting interest rates next year, Fed Chair Jerome Powell said at a press conference in Washington, D.C., on Wednesday.

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