Page 25 - ARUBA TODAY

BUSINESS Wednesday 8 november 2017
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US job openings flat in September as hurricanes slow hiring

By CHRIS RUGABER lion jobs were available at and other southeastern that employers added over survey, or JOLTS. They
AP Economics Writer the end of September, not states. 261,000 jobs in October. are more detailed and pro-
WASHINGTON (AP) — U.S. far from the record high of Overall, thousands of busi- That partly reflected a re- vide a fuller view of the job
employers posted roughly 6.14 million reached in July. nesses were closed, which covery in hiring after the market than the monthly
the same number of open The number of open jobs in likely held back hiring. Total hurricanes dragged down jobs report.
jobs in September as the restaurants and hotels fell hires fell 2.7 percent to 5.27 job gains in September. The two reports paint a pic-
previous month, partly 111,000 from August. That million in September, the October’s figure is a net ture of employers struggling
because hurricanes held reflects widespread dam- lowest in five months. gain after layoffs, quits and to fill jobs in tight labor mar-
back hiring at restaurants age in the wake of Hur- Excluding the storms’ im- retirements are subtracted ket. The unemployment
and hotels. ricanes Harvey and Irma, pact, the job market re- from overall hiring. Tues- rate fell to 4.1 percent in
The Labor Department which struck many vaca- mains mostly healthy. The day’s data is from the Job October, the lowest in 17
said Tuesday that 6.09 mil- tion spots in Texas, Florida government said last week Openings and Labor Turn- years.q

Losses for banks and smaller companies take US stocks lower

By MARLEY JAY $98.75 and U.S. Bancorp
AP Markets Writer lost $1.40, or 2.6 percent, to
NEW YORK (AP) — U.S. $53.45. First Financial Banc-
stocks slipped Tuesday as shares, a smaller, Texas-
smaller companies and based bank, fell $1.15, or
banks took their worst losses 2.5 percent, to $44.40.
in a few months. With stock Red Robin Gourmet Burg-
indexes near record highs, ers plunged after it slashed
investors moved some its profit forecast. It pointed
money into big-dividend to higher labor costs and
stocks like real estate com- said it will temporarily stop
panies. opening new locations at
Banks and other financial the end of its next fiscal
companies have been year. The stock lost $19.35,
climbing over the last two or 28.9 percent, to $47.70.
months, but Tuesday they Consumer products distrib-
skidded as interest rates utor Core-Mark fell $3.07, or
moved lower. Small, do- 9.1 percent, to $30.63 after
mestically-focused com- it cut its outlook.
panies had their worst day Household goods makers,
since mid-August as House utilities, and other compa-
Republicans began mak- nies that pay big dividends
ing changes to their tax bill. did better than the rest of
Their Senate counterparts Specialists Brian Fairbrother, left, John McNierney, center, and trader Fred Demarco work on the the market. Drugstore and
are expected to introduce floor of the New York Stock Exchange. U.S. stocks slipped Tuesday as smaller companies and pharmacy benefits com-
their own bill soon. Smaller banks took their worst losses in a few months. pany CVS Health jumped
companies tend to pay (AP Photo/Richard Drew) $2.15, or 3.2 percent, to
higher tax rates than their ket strategist at Prudential pany has more than qua- or 1.3 percent, to 1,479.09. $68.95 to recover some of
bigger peers because they Financial. While the pace drupled in value this year. Banks fell along with bond its recent losses. Shopping
make more of their money of company earnings is The Standard & Poor’s 500 yields and interest rates. mall operator GGP soared
in the U.S. and don’t have as slowing, they continued index dipped 0.49 points Both have moved lower $3.19, or 16.8 percent, to
many ways to reduce their to hold sway over parts of to 2,590.64. The Dow Jones over the last few days, $22.20. Bloomberg report-
taxes. “Financials would be the market. Travel book- industrial average added which reduces the profits ed that GGP is in talks with
a primary beneficiary of a ing companies TripAdvisor 8.81 points to 23,557.23, an- banks make from lend- Brookfield Asset Manage-
20 percent corporate tax and Priceline both plunged other record high. The Nas- ing. The yield on the 10- ment about potentially
rate because they’re do- while Weight Watchers daq composite fell 18.65 year Treasury note slipped buying the rest of the com-
mestically based and they continued to surge after it points, or 0.3 percent, to to 2.31 percent from 2.32 pany. Competitor Mac-
pay domestic taxes,” said raised its forecasts for the 6,767.78. The Russell 2000 percent. JPMorgan Chase erich jumped $4.57, or 8.4
Quincy Krosby, chief mar- year. The weight loss com- index tumbled 18.87 points, fell $2.03, or 2 percent, to percent, to $58.76. q
US consumer borrowing up $20.8 billion, most in 10 months

By M. CRUTSINGER increase since a $24.5 bil- closely watched for clues
AP Economics Writer lion jump in November about the direction of con-
WASHINGTON (AP) — 2016, the Federal Reserve sumer spending, which ac-
American consumers in- reported Tuesday. counts for about 70 per-
creased their borrowing by The category that covers cent of economic growth.
$20.8 billion in September. auto and student loans The September increase
It was the largest gain in 10 rose by $14.4 billion, nearly pushed total borrowing
months and was led by a double the $7.6 billion gain to a fresh record of $3.79
sharp increase in borrow- seen in August. The cat- trillion. The Fed’s monthly
ing for auto and student egory that covers credit borrowing report does not
loans. The September in- cards increased $6.4 bil- cover home mortgages or
crease followed a gain of lion, slightly better than the other loans such as home
$13.8 billion in August and $5.5 billion August increase. equity loans that are se-
marks the largest monthly Consumer borrowing is cured by real estate. q