![\"\"](\"https://www.pymnts.com/wp-content/uploads/2025/04/Figure-1-consumer-sentiment.jpg?w=457\")
Perhaps the best, or most positive, finding in the Federal Reserve\u2019s latest qualitative survey of the economy and its prospects boils down to this:
\nEconomic activity, at least as measured in March, was mixed. In other words, things could have been worse.
\nBut across the 12 central bank districts, the change from February to March was palpable in terms of sentiment: Uncertainty tied to tariffs and trade wars was \u201cpervasive,\u201d according to comments from bankers. Overall, four districts saw growth.\u00a0 Three districts saw things as relatively unchanged. That left five districts with declining trends.
\nSpending, overall, was lower, at least for non-automobile purchases. In a demonstration of front-loading ahead of tariffs, vehicle sales gained ground.
\nThe Federal Reserve released the third installment of this year\u2019s Beige Book showing decreased performance on consumer spending in six of 12 districts, while only three saw an uptick. On a positive note, five districts reported improvements in the job market while three reported worse conditions.
\n
Given the front-loading, the banks\u2019 observations indicate that retail figures for the sector may worsen in the near term due to this substitution effect.
\nAs recently reported by PYMNTS, motor vehicle and parts dealers performed strongly in March, growing 5.3% over the month after contractions in January (-3.4%) and February (-1.6%). Compared to March 2024, the sector experienced an 8.8% increase.
\nRegarding employment, reports indicate that hiring was generally slower for consumer-facing firms than for business-to-business firms. Another symptom of the underlying uncertainty can be found in several districts reporting that firms were taking what has been described in the report as a \u201cwait-and-see approach\u201d to employment, pausing or slowing hiring until there is more clarity on economic conditions. Reports of upcoming layoffs remained scattered.
\nThis generally coincides with the latest batch of government data on the topic. The most recent Jobs Openings and Labor Turnover Survey by the Bureau of Labor Statistics points toward muted but stable trend of job openings and separations, consistent with a general strategy of reducing headcount by attrition rather than layoffs.
\n![\"\"](\"https://www.pymnts.com/wp-content/uploads/2025/04/Figure-2-consumer-sentiment.jpg?w=349\")
A rather lackluster performance in the job market can soon become a deterrent to consumer spending. A recent survey run by the New York Fed shows that just 54.8% of respondents were satisfied with their wage at their current job in March 2025, down from 55.9% in November 2024 and 55.6% in March 2024.
\nThis means that nearly half of consumers find their current compensation insufficient or incompatible with their professional proficiency. The share of respondents satisfied with prospects for advancement at current job also fell in March, to 48.7% from 50.4% in the November run.
\nReports from multiple economic outlets, like the Conference Board, point toward depressed consumer sentiment as a key limitation to the economy operating at its full potential, inducing downward adjustment to economic projections. We may not be in the recession zone \u2014 but connecting the dots shows that many observers anticipating disappointing economic growth.
\n\n
The post Fed Survey Says Pervasive Uncertainty Hampers Companies\u2019 Hiring and Growth Prospects appeared first on PYMNTS.com.
\n", "content_text": "Perhaps the best, or most positive, finding in the Federal Reserve\u2019s latest qualitative survey of the economy and its prospects boils down to this:\nEconomic activity, at least as measured in March, was mixed. In other words, things could have been worse.\nBut across the 12 central bank districts, the change from February to March was palpable in terms of sentiment: Uncertainty tied to tariffs and trade wars was \u201cpervasive,\u201d according to comments from bankers. Overall, four districts saw growth.\u00a0 Three districts saw things as relatively unchanged. That left five districts with declining trends.\nSpending, overall, was lower, at least for non-automobile purchases. In a demonstration of front-loading ahead of tariffs, vehicle sales gained ground.\nThe Federal Reserve released the third installment of this year\u2019s Beige Book showing decreased performance on consumer spending in six of 12 districts, while only three saw an uptick. On a positive note, five districts reported improvements in the job market while three reported worse conditions.\n\nGiven the front-loading, the banks\u2019 observations indicate that retail figures for the sector may worsen in the near term due to this substitution effect.\nAs recently reported by PYMNTS, motor vehicle and parts dealers performed strongly in March, growing 5.3% over the month after contractions in January (-3.4%) and February (-1.6%). Compared to March 2024, the sector experienced an 8.8% increase.\nWait and See Approach\nRegarding employment, reports indicate that hiring was generally slower for consumer-facing firms than for business-to-business firms. Another symptom of the underlying uncertainty can be found in several districts reporting that firms were taking what has been described in the report as a \u201cwait-and-see approach\u201d to employment, pausing or slowing hiring until there is more clarity on economic conditions. Reports of upcoming layoffs remained scattered.\nThis generally coincides with the latest batch of government data on the topic. The most recent Jobs Openings and Labor Turnover Survey by the Bureau of Labor Statistics points toward muted but stable trend of job openings and separations, consistent with a general strategy of reducing headcount by attrition rather than layoffs.\n\nA rather lackluster performance in the job market can soon become a deterrent to consumer spending. A recent survey run by the New York Fed shows that just 54.8% of respondents were satisfied with their wage at their current job in March 2025, down from 55.9% in November 2024 and 55.6% in March 2024.\nThis means that nearly half of consumers find their current compensation insufficient or incompatible with their professional proficiency. The share of respondents satisfied with prospects for advancement at current job also fell in March, to 48.7% from 50.4% in the November run.\nReports from multiple economic outlets, like the Conference Board, point toward depressed consumer sentiment as a key limitation to the economy operating at its full potential, inducing downward adjustment to economic projections. We may not be in the recession zone \u2014 but connecting the dots shows that many observers anticipating disappointing economic growth.\n \nThe post Fed Survey Says Pervasive Uncertainty Hampers Companies\u2019 Hiring and Growth Prospects appeared first on PYMNTS.com.", "date_published": "2025-04-23T19:10:28-04:00", "date_modified": "2025-04-23T19:10:28-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/help-wanted-beige-book.jpg", "tags": [ "beige book", "COnference Board", "Consumer Spending", "Economy", "employment", "federal reserve", "Jobs Openings and Labor Turnover Survey", "News", "PYMNTS News", "tariffs", "Uncertainty" ] }, { "id": "https://www.pymnts.com/?p=2689953", "url": "https://www.pymnts.com/economy/2025/sp-global-tariffs-drive-manufactured-goods-price-increases-to-29-month-high/", "title": "S&P Global: Tariffs Drive Manufactured Goods Price Increases to 29-Month High", "content_html": "Prices charged for goods and services rose at the sharpest rate seen in 13 months in April, with tariffs driving an especially steep increase in prices of manufactured goods, S&P Global said Wednesday (April 23).
\nThe rate of inflation in manufacturing hit a 29-month high, while that in services rose to a seven-month high, S&P Global said in a Wednesday press release outlining its flash Purchasing Managers\u2019 Index (PMI) survey data, which precedes the final April PMI survey data to be released May 1 and May 5.
\nThe release attributed the higher prices to rising costs caused by tariffs, import prices and labor costs.
\n\u201cThese higher prices will inevitably feed through to higher consumer inflation, potentially limiting the scope for the Federal Reserve to reduce interest rates at a time when a slowing economy looks in need of a boost,\u201d Chris Williamson, chief business economist at S&P Global Market Intelligence, said in the release.
\nThe survey also found that April has also seen the growth in U.S. business activity slow to a 16-month low and business expectations about the year ahead drop to one of the lowest levels since the pandemic.
\nThe release attributed the slowdown of growth in the service sector to uncertainty about the economy and tariffs and a fall in exports of services like tourism-related activity and cross-border services.
\nIn manufacturing, a slight increase in domestic orders, which was driven in part by tariffs, was partially offset by a fall in export orders that was linked to trade policy, according to the release.
\n\u201cConfidence about business conditions in the year ahead has meanwhile deteriorated sharply, worsening among manufacturers and service providers alike, largely thanks to growing concerns about the impact of recent government policy announcements,\u201d Williamson said.
\nThe International Monetary Fund (IMF) said Tuesday (April 22) that it reduced its forecast for economic growth in the United States in 2025 by 0.9 percentage point \u2014 from 2.7% in January to 1.8% currently \u2014 because of the impact of tariffs and escalating trade tension.
\nFederal Reserve Bank of Chicago President Austan Goolsbee said Sunday (April 20) that tariff-related \u201cpanic buying\u201d in the U.S. could create an \u201cartificially high\u201d level of economic activity ahead of an economic slump.
\nThe post S&P Global: Tariffs Drive Manufactured Goods Price Increases to 29-Month High appeared first on PYMNTS.com.
\n", "content_text": "Prices charged for goods and services rose at the sharpest rate seen in 13 months in April, with tariffs driving an especially steep increase in prices of manufactured goods, S&P Global said Wednesday (April 23).\nThe rate of inflation in manufacturing hit a 29-month high, while that in services rose to a seven-month high, S&P Global said in a Wednesday press release outlining its flash Purchasing Managers\u2019 Index (PMI) survey data, which precedes the final April PMI survey data to be released May 1 and May 5.\nThe release attributed the higher prices to rising costs caused by tariffs, import prices and labor costs.\n\u201cThese higher prices will inevitably feed through to higher consumer inflation, potentially limiting the scope for the Federal Reserve to reduce interest rates at a time when a slowing economy looks in need of a boost,\u201d Chris Williamson, chief business economist at S&P Global Market Intelligence, said in the release.\nThe survey also found that April has also seen the growth in U.S. business activity slow to a 16-month low and business expectations about the year ahead drop to one of the lowest levels since the pandemic.\nThe release attributed the slowdown of growth in the service sector to uncertainty about the economy and tariffs and a fall in exports of services like tourism-related activity and cross-border services.\nIn manufacturing, a slight increase in domestic orders, which was driven in part by tariffs, was partially offset by a fall in export orders that was linked to trade policy, according to the release.\n\u201cConfidence about business conditions in the year ahead has meanwhile deteriorated sharply, worsening among manufacturers and service providers alike, largely thanks to growing concerns about the impact of recent government policy announcements,\u201d Williamson said.\nThe International Monetary Fund (IMF) said Tuesday (April 22) that it reduced its forecast for economic growth in the United States in 2025 by 0.9 percentage point \u2014 from 2.7% in January to 1.8% currently \u2014 because of the impact of tariffs and escalating trade tension.\nFederal Reserve Bank of Chicago President Austan Goolsbee said Sunday (April 20) that tariff-related \u201cpanic buying\u201d in the U.S. could create an \u201cartificially high\u201d level of economic activity ahead of an economic slump.\nThe post S&P Global: Tariffs Drive Manufactured Goods Price Increases to 29-Month High appeared first on PYMNTS.com.", "date_published": "2025-04-23T14:31:33-04:00", "date_modified": "2025-04-23T14:31:33-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/tariffs-price-increases.png", "tags": [ "Economy", "imports", "inflation", "manufacturing", "News", "PYMNTS News", "S&P Global", "tariffs", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2689907", "url": "https://www.pymnts.com/economy/2025/imf-says-tariffs-could-drive-up-global-public-debt/", "title": "IMF Says Tariffs Could Drive Up Global Public Debt", "content_html": "The\u00a0International Monetary Fund (IMF) said Wednesday (April 23) that the world\u2019s governments should not let their support for those impacted by tariffs add to their already growing level of debt.
\n\u201cFiscal support for businesses and communities impacted by severe trade dislocations should be both temporary and targeted, with a strong emphasis on transparency and effective cost management,\u201d the IMF said in a\u00a0blog post.
\nThe organization said this while warning that governments need to \u201cput their fiscal house in order\u201d at a time when public debt levels are rising in many countries.
\nThe IMF expects global public debt to increase by 2.8 percentage points this year, which would push debt levels above 95% of gross domestic product, according to the post.
\nIt also expects public debt to near 100% of GDP by the end of the decade.
\nIn a \u201cseverely adverse scenario,\u201d global public debt could reach 117% of GDP by 2027 \u2014 a level that would be the highest since World War II, per the post.
\n\u201cDebt levels may rise even further than the debt-at-risk estimates if revenues and economic output decline more significantly than current forecasts due to increased tariffs and weakened growth prospects,\u201d the post said. \u201cAdditionally, escalating geoeconomic uncertainties could heighten debt risks, driving up public debt through increased expenditures, particularly in defense. Demands for fiscal support could also rise for those vulnerable to severe disruptions from trade shocks, pushing up spending.\u201d
\nThis blog post came a day after the IMF reduced its forecast for economic growth in the United States in 2025 by 0.9 percentage point, attributing the downgrade primarily to the introduction of reciprocal\u00a0tariffs announced by President Donald Trump on April 2.
\nThe IMF now projects U.S. GDP growth at 1.8%, down from its January estimate of 2.7%, according to the\u00a0World Economic Outlook it released Tuesday (April 22).
\n\u201cThe common denominator … is that tariffs are a negative supply shock for the economy imposing them, as resources are reallocated toward the production of noncompetitive goods, with a resulting loss of aggregate productivity, lower activity, and higher production costs and prices,\u201d\u00a0Pierre-Olivier Gourinchas, the IMF\u2019s chief economist, wrote in the outlook.
\nThe post IMF Says Tariffs Could Drive Up Global Public Debt appeared first on PYMNTS.com.
\n", "content_text": "The\u00a0International Monetary Fund (IMF) said Wednesday (April 23) that the world\u2019s governments should not let their support for those impacted by tariffs add to their already growing level of debt.\n\u201cFiscal support for businesses and communities impacted by severe trade dislocations should be both temporary and targeted, with a strong emphasis on transparency and effective cost management,\u201d the IMF said in a\u00a0blog post.\nThe organization said this while warning that governments need to \u201cput their fiscal house in order\u201d at a time when public debt levels are rising in many countries.\nThe IMF expects global public debt to increase by 2.8 percentage points this year, which would push debt levels above 95% of gross domestic product, according to the post.\nIt also expects public debt to near 100% of GDP by the end of the decade.\nIn a \u201cseverely adverse scenario,\u201d global public debt could reach 117% of GDP by 2027 \u2014 a level that would be the highest since World War II, per the post.\n\u201cDebt levels may rise even further than the debt-at-risk estimates if revenues and economic output decline more significantly than current forecasts due to increased tariffs and weakened growth prospects,\u201d the post said. \u201cAdditionally, escalating geoeconomic uncertainties could heighten debt risks, driving up public debt through increased expenditures, particularly in defense. Demands for fiscal support could also rise for those vulnerable to severe disruptions from trade shocks, pushing up spending.\u201d\nThis blog post came a day after the IMF reduced its forecast for economic growth in the United States in 2025 by 0.9 percentage point, attributing the downgrade primarily to the introduction of reciprocal\u00a0tariffs announced by President Donald Trump on April 2.\nThe IMF now projects U.S. GDP growth at 1.8%, down from its January estimate of 2.7%, according to the\u00a0World Economic Outlook it released Tuesday (April 22).\n\u201cThe common denominator … is that tariffs are a negative supply shock for the economy imposing them, as resources are reallocated toward the production of noncompetitive goods, with a resulting loss of aggregate productivity, lower activity, and higher production costs and prices,\u201d\u00a0Pierre-Olivier Gourinchas, the IMF\u2019s chief economist, wrote in the outlook.\nThe post IMF Says Tariffs Could Drive Up Global Public Debt appeared first on PYMNTS.com.", "date_published": "2025-04-23T13:03:01-04:00", "date_modified": "2025-04-23T13:03:01-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/IMF-tariffs-economy-debt.jpg", "tags": [ "debt", "Economy", "GDP", "IMF", "International Monetary Fund", "News", "PYMNTS News", "tariffs", "trade war", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2689215", "url": "https://www.pymnts.com/economy/2025/imf-cuts-2025-united-states-growth-forecast-amid-tariff-uncertainties/", "title": "IMF Cuts 2025 US Growth Forecast to 1.8% Amid Tariff Uncertainties", "content_html": "The International Monetary Fund (IMF) reduced its forecast for economic growth in the United States in 2025 amid tariffs and escalating trade tensions.
\nIn its World Economic Outlook\u00a0released Tuesday (April 22), the IMF projected U.S. GDP growth at 1.8%, down from its January estimate of 2.7%.
\nThe IMF attributed the 0.9 percentage point downgrade primarily to the introduction of reciprocal tariffs announced by President Donald Trump April 2. These tariffs have since been suspended, but the damage has been done. The tariff announcement triggered retaliatory measures from other countries.
\nAdditionally, the S&P 500 has dropped 9% since the tariff announcement, CNBC reported Tuesday.
\n\u201cThe common denominator \u2026 is that tariffs are a negative supply shock for the economy imposing them, as resources are reallocated toward the production of noncompetitive goods, with a resulting loss of aggregate productivity, lower activity, and higher production costs and prices,\u201d Pierre-Olivier Gourinchas, the IMF\u2019s chief economist, wrote in the outlook.
\nThe resulting uncertainty could prompt firms to delay investment and reduce purchases, he wrote.
\nThe latest growth forecast was compiled in less than 10 days. The process typically takes more than two months but was done in a hurry due to the sudden nature of the policy changes, Gourinchas wrote.
\nWhile the IMF is not predicting a recession for the U.S., Gourinchas said Tuesday that the probability of a downturn is now 40%, up from 25% in October, CNBC reported.
\nLooking at the global picture, the IMF lowered the growth forecast for 2025 to 2.8% from 3.3% in January, according to the outlook.
\nInflation forecasts are trending upward. U.S. inflation is predicted to reach 3% in 2025, one percentage point higher than the IMF\u2019s January projection, per the outlook, which cited \u201cstubborn price dynamics in the services sector as well as a recent uptick in the growth of the price of core goods (excluding food and energy) and the supply shock from recent tariffs.\u201d
\nThe inflation projection for advanced economies, which include the U.S., the United Kingdom and Canada, was raised to 2.5% for 2025, up 0.4 percentage points from January, per the outlook.
\n\u201cIn particular, the effects of recently imposed tariffs on inflation across countries will depend on whether the tariffs are perceived to be temporary or permanent, the extent to which firms adjust margins to offset increased import costs, and whether imports are invoiced in U.S. dollars or local currency,\u201d the outlook said.
\nMeanwhile, businesses that proactively manage their working capital could gain a competitive advantage in today\u2019s shifting environment. Earnings results reported this month revealed that flexibility and liquidity are now the name of the game.
\nThe post IMF Cuts 2025 US Growth Forecast to 1.8% Amid Tariff Uncertainties appeared first on PYMNTS.com.
\n", "content_text": "The International Monetary Fund (IMF) reduced its forecast for economic growth in the United States in 2025 amid tariffs and escalating trade tensions.\nIn its World Economic Outlook\u00a0released Tuesday (April 22), the IMF projected U.S. GDP growth at 1.8%, down from its January estimate of 2.7%.\nThe IMF attributed the 0.9 percentage point downgrade primarily to the introduction of reciprocal tariffs announced by President Donald Trump April 2. These tariffs have since been suspended, but the damage has been done. The tariff announcement triggered retaliatory measures from other countries.\nAdditionally, the S&P 500 has dropped 9% since the tariff announcement, CNBC reported Tuesday.\n\u201cThe common denominator \u2026 is that tariffs are a negative supply shock for the economy imposing them, as resources are reallocated toward the production of noncompetitive goods, with a resulting loss of aggregate productivity, lower activity, and higher production costs and prices,\u201d Pierre-Olivier Gourinchas, the IMF\u2019s chief economist, wrote in the outlook.\nThe resulting uncertainty could prompt firms to delay investment and reduce purchases, he wrote.\nThe latest growth forecast was compiled in less than 10 days. The process typically takes more than two months but was done in a hurry due to the sudden nature of the policy changes, Gourinchas wrote.\nWhile the IMF is not predicting a recession for the U.S., Gourinchas said Tuesday that the probability of a downturn is now 40%, up from 25% in October, CNBC reported.\nLooking at the global picture, the IMF lowered the growth forecast for 2025 to 2.8% from 3.3% in January, according to the outlook.\nInflation forecasts are trending upward. U.S. inflation is predicted to reach 3% in 2025, one percentage point higher than the IMF\u2019s January projection, per the outlook, which cited \u201cstubborn price dynamics in the services sector as well as a recent uptick in the growth of the price of core goods (excluding food and energy) and the supply shock from recent tariffs.\u201d\nThe inflation projection for advanced economies, which include the U.S., the United Kingdom and Canada, was raised to 2.5% for 2025, up 0.4 percentage points from January, per the outlook.\n\u201cIn particular, the effects of recently imposed tariffs on inflation across countries will depend on whether the tariffs are perceived to be temporary or permanent, the extent to which firms adjust margins to offset increased import costs, and whether imports are invoiced in U.S. dollars or local currency,\u201d the outlook said.\nMeanwhile, businesses that proactively manage their working capital could gain a competitive advantage in today\u2019s shifting environment. Earnings results reported this month revealed that flexibility and liquidity are now the name of the game.\nThe post IMF Cuts 2025 US Growth Forecast to 1.8% Amid Tariff Uncertainties appeared first on PYMNTS.com.", "date_published": "2025-04-22T13:26:23-04:00", "date_modified": "2025-04-22T13:26:23-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2021/04/imf.jpg", "tags": [ "Economy", "IMF", "international", "International Monetary Fund", "News", "PYMNTS News", "tariffs", "taxes", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2688471", "url": "https://www.pymnts.com/economy/2025/bryzos-ceo-says-us-steel-market-squeezed-by-trumps-anaconda-plan-will-pain-bring-gain/", "title": "Bryzos CEO Says US Steel Market Squeezed by Trump\u2019s \u2018Anaconda Plan\u2019 \u2014 Will Pain Bring Gain?", "content_html": "Many United States businesses involved in global trade are experiencing a sea of change and a sea change.
\nThe President Donald Trump administration doubled down on tariffs with its reinstated Section 232 measures, slapping 25% duties on steel imports and eliminating country exemptions while introducing stringent \u201cmelted and poured\u201d requirements to qualify for duty-free status. The metals industry is bracing for impact.
\n\u201cTrump is getting serious about this,\u201d Shep Hickey, CEO at metal digital marketplace Bryzos, told PYMNTS Karen Webster. \u201cHe\u2019s trying to level set trade imbalances and get the domestic engine of manufacturing really running at a higher RPM.\u201d
\n\u201cWhat he\u2019s doing is a kind of \u2018anaconda plan,\u2019\u201d Hickey said. \u201cHe\u2019s closing off all possible entrances.\u201d
\nThe broader implication is that importers are out of escape routes. In the first iteration of the steel tariffs during Trump\u2019s initial term, importers found ways around the duties by bringing in unfinished goods or routing shipments through countries like Canada.
\n\u201cIt was a bit of a charade\u2026 They were straw countries,\u201d Hickey said. \u201cBusinesses could import as an unfinished good, finish it elsewhere, and sidestep the tariffs. Now you can\u2019t really do that because everybody has a tariff.\u201d
\nStill, even as the administration pushes for domestic revitalization, the U.S. does not have the capacity to meet its steel demand.
\nThe supply shortage has already triggered price hikes, not just because mills are charging more, but also because distributors are thinking about replacement costs. That calculus has a ripple effect.
\n\u201cWe\u2019re seeing prices go up,\u201d Hickey said. \u201cBusinesses are trying to conserve stock, and the easiest way to do that is raise prices or just stop selling.\u201d
\n\u201cIt\u2019s not what you paid for your inventory \u2014 it\u2019s what it\u2019ll cost you to replace it. That\u2019s what\u2019s driving the decision making now,\u201d he added, noting that \u201csome portion of marketplace users were buying inordinate amounts of metal\u201d to hedge against price hikes.
\nThe political goal of the tariffs is ultimately to revitalize U.S. manufacturing and reduce dependency on foreign steel. But the real-world implications may remain far murkier, and there is no fast fix in sight, he said.
\nFor the final seller in the supply chain, the squeeze is acute.
\n\u201cDuring Trump 1.0, the tariffs mostly compressed profit for whoever was last in the chain,\u201d Hickey said. \u201cThey quoted a price, they\u2019re locked into it, and now their costs are going up, but the buyer doesn\u2019t want to hear that.\u201d
\n\u201cYou can\u2019t just water the lawn and have a steel mill pop out of the ground,\u201d he said. \u201cAll that takes time. And it\u2019s not just build time, it\u2019s permitting time. Sometimes the permitting takes longer than the build.\u201d
\nUltimately, Hickey said he believes markets and people will adapt.
\n\u201cPeople are clever and industrious,\u201d he said. \u201cEngineers are already being told, \u2018You can\u2019t use that material anymore, find an alternative.\u2019 There\u2019s always a railing that needs to be fixed. And the people who make those railings will find a way.\u201d
\nAt the same time, industry sentiment is that the administration\u2019s approach will become more nuanced over time.
\nHowever, Hickey cautioned that the reshaping of global trade is a long-term play.
\n\u201cYou don\u2019t fix 80 years of imbalance in one term,\u201d he said. \u201cMy concern is how do you make sure this lasts longer than four years? Because if this gets reversed in 2028, all you\u2019ve done is provide a lot of pain without lasting gain.\u201d
\nThere\u2019s also a broader philosophical question emerging: Have Americans been underpaying for steel all along?
\n\u201cMaybe the domestic price is actually the fair market price,\u201d Hickey said. \u201cWe haven\u2019t seen China\u2019s books. Who knows how much they\u2019re subsidizing their mills?\u201d
\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
\nThe post Bryzos CEO Says US Steel Market Squeezed by Trump\u2019s \u2018Anaconda Plan\u2019 \u2014 Will Pain Bring Gain? appeared first on PYMNTS.com.
\n", "content_text": "Many United States businesses involved in global trade are experiencing a sea of change and a sea change.\nThe President Donald Trump administration doubled down on tariffs with its reinstated Section 232 measures, slapping 25% duties on steel imports and eliminating country exemptions while introducing stringent \u201cmelted and poured\u201d requirements to qualify for duty-free status. The metals industry is bracing for impact.\n\u201cTrump is getting serious about this,\u201d Shep Hickey, CEO at metal digital marketplace Bryzos, told PYMNTS Karen Webster. \u201cHe\u2019s trying to level set trade imbalances and get the domestic engine of manufacturing really running at a higher RPM.\u201d\n\u201cWhat he\u2019s doing is a kind of \u2018anaconda plan,\u2019\u201d Hickey said. \u201cHe\u2019s closing off all possible entrances.\u201d\nThe broader implication is that importers are out of escape routes. In the first iteration of the steel tariffs during Trump\u2019s initial term, importers found ways around the duties by bringing in unfinished goods or routing shipments through countries like Canada.\n\u201cIt was a bit of a charade\u2026 They were straw countries,\u201d Hickey said. \u201cBusinesses could import as an unfinished good, finish it elsewhere, and sidestep the tariffs. Now you can\u2019t really do that because everybody has a tariff.\u201d\nStill, even as the administration pushes for domestic revitalization, the U.S. does not have the capacity to meet its steel demand.\nPrice Pressures and Margin Compression\nThe supply shortage has already triggered price hikes, not just because mills are charging more, but also because distributors are thinking about replacement costs. That calculus has a ripple effect.\n\u201cWe\u2019re seeing prices go up,\u201d Hickey said. \u201cBusinesses are trying to conserve stock, and the easiest way to do that is raise prices or just stop selling.\u201d\n\u201cIt\u2019s not what you paid for your inventory \u2014 it\u2019s what it\u2019ll cost you to replace it. That\u2019s what\u2019s driving the decision making now,\u201d he added, noting that \u201csome portion of marketplace users were buying inordinate amounts of metal\u201d to hedge against price hikes.\nThe political goal of the tariffs is ultimately to revitalize U.S. manufacturing and reduce dependency on foreign steel. But the real-world implications may remain far murkier, and there is no fast fix in sight, he said.\nFor the final seller in the supply chain, the squeeze is acute.\n\u201cDuring Trump 1.0, the tariffs mostly compressed profit for whoever was last in the chain,\u201d Hickey said. \u201cThey quoted a price, they\u2019re locked into it, and now their costs are going up, but the buyer doesn\u2019t want to hear that.\u201d\n\u201cYou can\u2019t just water the lawn and have a steel mill pop out of the ground,\u201d he said. \u201cAll that takes time. And it\u2019s not just build time, it\u2019s permitting time. Sometimes the permitting takes longer than the build.\u201d\nNavigating Toward Homeostasis on the Back of Digital Innovation\nUltimately, Hickey said he believes markets and people will adapt.\n\u201cPeople are clever and industrious,\u201d he said. \u201cEngineers are already being told, \u2018You can\u2019t use that material anymore, find an alternative.\u2019 There\u2019s always a railing that needs to be fixed. And the people who make those railings will find a way.\u201d\nAt the same time, industry sentiment is that the administration\u2019s approach will become more nuanced over time.\nHowever, Hickey cautioned that the reshaping of global trade is a long-term play.\n\u201cYou don\u2019t fix 80 years of imbalance in one term,\u201d he said. \u201cMy concern is how do you make sure this lasts longer than four years? Because if this gets reversed in 2028, all you\u2019ve done is provide a lot of pain without lasting gain.\u201d\nThere\u2019s also a broader philosophical question emerging: Have Americans been underpaying for steel all along?\n\u201cMaybe the domestic price is actually the fair market price,\u201d Hickey said. \u201cWe haven\u2019t seen China\u2019s books. Who knows how much they\u2019re subsidizing their mills?\u201d\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.\nThe post Bryzos CEO Says US Steel Market Squeezed by Trump\u2019s \u2018Anaconda Plan\u2019 \u2014 Will Pain Bring Gain? appeared first on PYMNTS.com.", "date_published": "2025-04-22T04:03:34-04:00", "date_modified": "2025-04-21T21:38:43-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Bryzos-steel.jpg", "tags": [ "B2B", "B2B Payments", "Bryzos", "commercial payments", "Economy", "Featured News", "logistics", "News", "PYMNTS News", "Shep Hickey", "supply chain management", "tariffs", "taxes" ] }, { "id": "https://www.pymnts.com/?p=2688683", "url": "https://www.pymnts.com/economy/2025/workers-open-to-lower-wage-amid-perceived-decline-in-labor-market/", "title": "Workers Open to Lower Wage Amid Perceived Decline in Labor Market", "content_html": "Workers are willing to accept a lower wage for a new job amid a decline in several metrics for the labor market.
\n\u201cThe average reservation wage \u2014 the lowest wage respondents would be willing to accept for a new job \u2014 dropped sharply to $74,236 from a series high of $82,135 in December,\u201d the research group of the New York Fed said in a Monday (April 21) post on X.
\nThe post shared that finding from the SCE Labor Market Survey, which is fielded every four months as part of the Survey of Consumer Expectations.
\nThe March survey also found that workers\u2019 satisfaction with wage compensation, nonwage benefits and promotion opportunities declined, with drops of 1.1, 1.2 and 1.7 percentage points, respectively, since the previous survey.
\n\u201cSatisfaction with wage compensation is at its lowest level since November 2021,\u201d the New York Fed said when announcing the survey results.
\nThe latest edition of the survey also found that the average expected likelihood of receiving a job offer in the next four months decreased by 1.6 percentage points.
\nThere were also declines in the shares of respondents who said they expected to work beyond the age of 62 and beyond the age of 67, according to the survey.
\nThe Department of Labor said Thursday (April 17) that the number of initial claims for unemployment insurance in the U.S. fell by 9,000 during the week ended April 12.
\nBloomberg reported Thursday that the number was \u201cconsistent with a stable market,\u201d while Reuters said \u201clow layoffs have anchored the labor market\u201d but added that economists expect unemployment to rise in the coming months due to declines in business sentiment.
\nIn some other findings from its March Survey of Consumer Expectations released earlier, the New York Fed said April 14 that consumers\u2019 unemployment expectations \u2014 or the mean probability that the U.S. unemployment rate will be higher one year from now \u2014 jumped by 4.6 percentage points to reach the highest reading since the depth of the pandemic in April 2020.
\nThe survey also found that the mean perceived probability of losing one\u2019s job in the next 12 months increased by 1.6 percentage points to the highest level in a year.
\nThe post Workers Open to Lower Wage Amid Perceived Decline in Labor Market appeared first on PYMNTS.com.
\n", "content_text": "Workers are willing to accept a lower wage for a new job amid a decline in several metrics for the labor market.\n\u201cThe average reservation wage \u2014 the lowest wage respondents would be willing to accept for a new job \u2014 dropped sharply to $74,236 from a series high of $82,135 in December,\u201d the research group of the New York Fed said in a Monday (April 21) post on X.\nThe post shared that finding from the SCE Labor Market Survey, which is fielded every four months as part of the Survey of Consumer Expectations.\nThe March survey also found that workers\u2019 satisfaction with wage compensation, nonwage benefits and promotion opportunities declined, with drops of 1.1, 1.2 and 1.7 percentage points, respectively, since the previous survey.\n\u201cSatisfaction with wage compensation is at its lowest level since November 2021,\u201d the New York Fed said when announcing the survey results.\nThe latest edition of the survey also found that the average expected likelihood of receiving a job offer in the next four months decreased by 1.6 percentage points.\nThere were also declines in the shares of respondents who said they expected to work beyond the age of 62 and beyond the age of 67, according to the survey.\nThe Department of Labor said Thursday (April 17) that the number of initial claims for unemployment insurance in the U.S. fell by 9,000 during the week ended April 12.\nBloomberg reported Thursday that the number was \u201cconsistent with a stable market,\u201d while Reuters said \u201clow layoffs have anchored the labor market\u201d but added that economists expect unemployment to rise in the coming months due to declines in business sentiment.\nIn some other findings from its March Survey of Consumer Expectations released earlier, the New York Fed said April 14 that consumers\u2019 unemployment expectations \u2014 or the mean probability that the U.S. unemployment rate will be higher one year from now \u2014 jumped by 4.6 percentage points to reach the highest reading since the depth of the pandemic in April 2020.\nThe survey also found that the mean perceived probability of losing one\u2019s job in the next 12 months increased by 1.6 percentage points to the highest level in a year.\nThe post Workers Open to Lower Wage Amid Perceived Decline in Labor Market appeared first on PYMNTS.com.", "date_published": "2025-04-21T15:57:52-04:00", "date_modified": "2025-04-21T22:07:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/hiring-lower-wage.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "Economy", "Federal Reserve Bank of New York", "labor market", "New York Fed", "News", "PYMNTS News", "SCE Labor Market Survey", "wage expectations", "What's Hot", "What's Hot In B2B" ] }, { "id": "https://www.pymnts.com/?p=2687398", "url": "https://www.pymnts.com/economy/2025/payments-ceos-say-uncertainty-may-be-the-new-normal-but-getting-back-to-business-takes-center-stage/", "title": "Payments CEOs Say Uncertainty May Be the New Normal. But Getting Back to Business Takes Center Stage", "content_html": "It might seem like a good time to take a vacation.
\nWith the news full of geopolitical tension, trade finance drama, shifting regulations and the fresh memory of a disruptive global health crisis, uncertainty has become the norm rather than the exception.
\nBut for most companies, vacations are not high on the agenda. Pressing pause on critical operations is simply not an option. Companies must continue paying suppliers and employees, upgrading infrastructures, and serving customers regardless of tariffs or looming regulatory frameworks.
\nThat sentiment emerged in a conversation among PYMNTS CEO Karen Webster, Boost Payment Solutions CEO Dean Leavitt and Ingo Payments CEO Drew Edwards. Their discussion, inspired by installments of the PYMNTS Certainty Project explored not how consumers would navigate the current and short-term economic landscape, but how companies are going to navigate it. What strategies are best suited to thrive amid this uncertainty? From cross-border payment complexities to payment modernization, the dialogue offered a surprisingly optimistic outlook: While uncertainty may swirl, business continues, and opportunities are poised to take center stage.
\nBoth Edwards and Leavitt have their hands in the behind-the-scenes, infrastructure-oriented business of payments. Ingo Payments focuses on powering money mobility ecosystems with new payments economics; Boost on payments automation and optimizing the use of commercial cards. In Leavitt\u2019s case, the current situation calls for at least some degree of reexamination regarding cross-border activities.
\n\u201cWe are in 182 countries, so what we are seeing is some reticence for certain cross-border transactions,\u201d Leavitt said. \u201cEspecially when it\u2019s U.S. companies paying suppliers around the world, we\u2019ve definitely seen a bit of a \u2018wait-and-see\u2019 approach just to see what\u2019s going to shake out with the tariffs.\u201d
\nFor domestic operations, Edwards said the impact of geopolitical volatility has not yet dramatically affected his company\u2019s core business, which focuses on account funding, turning payments into new accounts and ecosystems and real-time disbursements.
\n\u201cIt doesn\u2019t impact me that much because we\u2019re not a consumer-direct model,\u201d Edwards said. \u201cAll the macro buying behaviors, because everybody\u2019s scared, might cause the tide to fall a bit, but we haven\u2019t seen that trickle down in a big way yet.\u201d
\nHowever, Edwards pointed to corporate caution, particularly among technology companies.
\n\u201cWe are seeing some corporate reticence, preemptive layoffs that impact tech resources and product roadmaps,\u201d he said.
\nLeavitt and Edwards both said that, despite cross-border headwinds or inflationary fears, doing business \u2014 what they define as business continuity \u2014 remains paramount. Enterprises know they must preserve their supplier ecosystems to remain competitive. This sometimes prompts them to accelerate digitization efforts precisely because adopting modern payment tools can mean strengthening partnerships.
\nWebster pointed out during the discussion that key drivers in uncertainty-proofing operations are the roles of the chief financial officer and treasurer. Today\u2019s finance chiefs are not merely tasked with number crunching \u2014 they are viewed as strategists who can help the enterprise weather economic storms.
\nForecasting and scenario-planning tools have grown more sophisticated. Edwards said that for his business partners, the heightened role of the treasurer spurs them to scrutinize the full gamut of payment and disbursement choices.
\n\u201cIt used to be an educational process just explaining what digitizing payments meant,\u201d he said. \u201cNow we see CFOs and treasurers wanting to optimize it. They want to know, \u2018How can we make these processes even more economically attractive? How do we drive loyalty, create new revenue streams, or turn what has traditionally been a cost center into something else?\u2019\u201d
\nWhile neither Leavitt nor Edwards reported seeing a complete overhaul in how CFOs approach their daily responsibilities, both leaders confirmed that heightened interest in digital solutions with new business models is a notable trend. This lines up with the broader market imperative to remain agile and preserve working capital in uncertain times.
\nCFOs and treasurers also have their hand in risk and risk management. The full range of exposures in that area now includes more than the usual transaction fraud. Partners themselves could become liabilities if they lack deep capitalization or robust compliance frameworks. Regulatory scrutiny is also on the rise, particularly in the banking world and the evolving FinTech space.
\nHow should CFOs and treasurers deal with risk and the threat of fraud? Edwards spelled out a multi-pronged approach.
\n\u201cThere\u2019s fraud risk, which can be expensive and scary, and then there\u2019s vendor risk,\u201d he said. \u201cCompanies get in trouble in cycles like this, especially if they\u2019re thinly capitalized. There\u2019s also regulatory banking risk. There are banks right now, even before the tariff issue, that have gotten in a ditch with regulators. So, when we talk about risk, it\u2019s way too early to say how the tariff situation will fully play out. But it has certainly placed risk management in the forefront of everyone\u2019s mind.\u201d
\nLeavitt concurred, noting that well-established solution providers can attract companies precisely because they offer a sense of security.
\n\u201cPart of the role that we serve is to create trust,\u201d he said. \u201cWhen there\u2019s uncertainty, there is a flight towards safety, across many different dimensions: economic safety, security. Our long-standing relationships with financial institutions mean they count on us to be consistent and safe.\u201d
\nSeveral years of disruption from COVID and geopolitical tensions have accelerated a trend toward modernizing payments. The adage, \u201cIf it\u2019s not broken, don\u2019t fix it,\u201d holds less sway in an environment where paper checks introduce delays and hamper transparency.
\nBoth executives said the shift to digital forms of payment is well underway, with no sign of retreat.
\n\u201cThere\u2019s nobody in my world saying, \u2018We may go into a recession, let\u2019s keep printing checks,\u2019\u201d Edwards said.
\nThat might have been unthinkable just a few years ago, but digitization is now the rule rather than the exception, especially for real-time disbursements and commercial card payments, he said.
\nLeavitt said the contractual nature of B2B agreements means there may not be an immediate push for real-time settlement, but digitization is, nevertheless, accelerating. Suppliers may jump at faster settlement, particularly if it means guaranteeing quicker access to capital.
\n\u201cA payment might be due in 30 days, but the buyer might typically pay in 45 or 60,\u201d Leavitt said. \u201cIf suppliers can get paid at day 30 for agreeing to accept commercial cards or other digital solutions, they do it. That gives them a working capital advantage.\u201d
\nEmbracing new technology is a prime way to weather ups and downs.
\n\u201cIn an environment like this, the push to modernize payments and find new ways to optimize money flow is magnified because CFOs are asking themselves: \u2018How do we stay relevant and cut costs \u2014 or even turn a cost center into a revenue center?\u2019\u201d Edwards said.
\nPerhaps no benchmark stands out for abrupt disruption and uncertainty more than the COVID-19 pandemic. Although some parallels exist, such as sudden-almost-overnight supply chain backups, macroeconomic tremors, uncertainty about when there could be more certainty and sudden regulatory shifts, Leavitt and Edwards agreed this latest round of turmoil is not a repeat of those \u201cbad old days.\u201d
\nWhere COVID locked down entire economies overnight, today\u2019s environment involves incremental changes in cross-border tariffs, new regulations and the specter of a potential economic slowdown.
\n\u201cThe pandemic turned out to be a boom for the consumer side of the economy \u2014 money was flowing like crazy,\u201d Edwards said. \u201cWe had parts of our business that skyrocketed because people needed money to move digitally, immediately. Now the worry is an actual reduction in overall demand if consumers and businesses get spooked. That\u2019s a different issue.\u201d
\nYet both leaders said the pandemic taught businesses to be \u201cscrappy,\u201d as Webster put it. Those that pivoted to digital solutions and embraced new ways of moving money emerged leaner and more capable of handling the next big upset. That culture shift remains a source of optimism.
\n\u201cIf anything, this environment is shining a big bright light on the need to keep investing in modernization,\u201d Edwards said. \u201cCompanies that do so are going to be in a better position than their competitors when the dust settles.\u201d
\nIn a world where headlines warn of rising tariffs, cross-border tensions and inflationary pressures, a persistent question emerges: Will businesses clamp down and wait it out or charge ahead with digitization and innovation? As Leavitt and Edwards said, companies have learned from the shock of COVID that uncertainty is inevitable, but agility is a choice. By embracing modern payment solutions, optimizing the office of the CFO and doubling down on secure, trustworthy partnerships, businesses can navigate these tumultuous times.
\n\u201cThere\u2019s reason for optimism,\u201d Webster said, adding that \u201cthere are opportunities for those who find them and pursue them.\u201d
\nWhen asked if another wave of uncertainty might upend business altogether, Edwards pointed back to lessons learned from the pandemic.
\n\u201cIt\u2019s a different world than COVID, but businesses got scrappy then, and that\u2019s not going away,\u201d he said. \u201cWe\u2019re all in better shape to handle the next storm.\u201d
\nThe post Payments CEOs Say Uncertainty May Be the New Normal. But Getting Back to Business Takes Center Stage appeared first on PYMNTS.com.
\n", "content_text": "It might seem like a good time to take a vacation.\nWith the news full of geopolitical tension, trade finance drama, shifting regulations and the fresh memory of a disruptive global health crisis, uncertainty has become the norm rather than the exception.\nBut for most companies, vacations are not high on the agenda. Pressing pause on critical operations is simply not an option. Companies must continue paying suppliers and employees, upgrading infrastructures, and serving customers regardless of tariffs or looming regulatory frameworks.\nThat sentiment emerged in a conversation among PYMNTS CEO Karen Webster, Boost Payment Solutions CEO Dean Leavitt and Ingo Payments CEO Drew Edwards. Their discussion, inspired by installments of the PYMNTS Certainty Project explored not how consumers would navigate the current and short-term economic landscape, but how companies are going to navigate it. What strategies are best suited to thrive amid this uncertainty? From cross-border payment complexities to payment modernization, the dialogue offered a surprisingly optimistic outlook: While uncertainty may swirl, business continues, and opportunities are poised to take center stage.\nBoth Edwards and Leavitt have their hands in the behind-the-scenes, infrastructure-oriented business of payments. Ingo Payments focuses on powering money mobility ecosystems with new payments economics; Boost on payments automation and optimizing the use of commercial cards. In Leavitt\u2019s case, the current situation calls for at least some degree of reexamination regarding cross-border activities.\n\u201cWe are in 182 countries, so what we are seeing is some reticence for certain cross-border transactions,\u201d Leavitt said. \u201cEspecially when it\u2019s U.S. companies paying suppliers around the world, we\u2019ve definitely seen a bit of a \u2018wait-and-see\u2019 approach just to see what\u2019s going to shake out with the tariffs.\u201d\nFor domestic operations, Edwards said the impact of geopolitical volatility has not yet dramatically affected his company\u2019s core business, which focuses on account funding, turning payments into new accounts and ecosystems and real-time disbursements.\n\u201cIt doesn\u2019t impact me that much because we\u2019re not a consumer-direct model,\u201d Edwards said. \u201cAll the macro buying behaviors, because everybody\u2019s scared, might cause the tide to fall a bit, but we haven\u2019t seen that trickle down in a big way yet.\u201d\nHowever, Edwards pointed to corporate caution, particularly among technology companies.\n\u201cWe are seeing some corporate reticence, preemptive layoffs that impact tech resources and product roadmaps,\u201d he said.\nLeavitt and Edwards both said that, despite cross-border headwinds or inflationary fears, doing business \u2014 what they define as business continuity \u2014 remains paramount. Enterprises know they must preserve their supplier ecosystems to remain competitive. This sometimes prompts them to accelerate digitization efforts precisely because adopting modern payment tools can mean strengthening partnerships.\nUncertainty and the C-Suite\nWebster pointed out during the discussion that key drivers in uncertainty-proofing operations are the roles of the chief financial officer and treasurer. Today\u2019s finance chiefs are not merely tasked with number crunching \u2014 they are viewed as strategists who can help the enterprise weather economic storms.\nForecasting and scenario-planning tools have grown more sophisticated. Edwards said that for his business partners, the heightened role of the treasurer spurs them to scrutinize the full gamut of payment and disbursement choices.\n\u201cIt used to be an educational process just explaining what digitizing payments meant,\u201d he said. \u201cNow we see CFOs and treasurers wanting to optimize it. They want to know, \u2018How can we make these processes even more economically attractive? How do we drive loyalty, create new revenue streams, or turn what has traditionally been a cost center into something else?\u2019\u201d\nWhile neither Leavitt nor Edwards reported seeing a complete overhaul in how CFOs approach their daily responsibilities, both leaders confirmed that heightened interest in digital solutions with new business models is a notable trend. This lines up with the broader market imperative to remain agile and preserve working capital in uncertain times.\nCFOs and treasurers also have their hand in risk and risk management. The full range of exposures in that area now includes more than the usual transaction fraud. Partners themselves could become liabilities if they lack deep capitalization or robust compliance frameworks. Regulatory scrutiny is also on the rise, particularly in the banking world and the evolving FinTech space.\nHow should CFOs and treasurers deal with risk and the threat of fraud? Edwards spelled out a multi-pronged approach.\n\u201cThere\u2019s fraud risk, which can be expensive and scary, and then there\u2019s vendor risk,\u201d he said. \u201cCompanies get in trouble in cycles like this, especially if they\u2019re thinly capitalized. There\u2019s also regulatory banking risk. There are banks right now, even before the tariff issue, that have gotten in a ditch with regulators. So, when we talk about risk, it\u2019s way too early to say how the tariff situation will fully play out. But it has certainly placed risk management in the forefront of everyone\u2019s mind.\u201d\nLeavitt concurred, noting that well-established solution providers can attract companies precisely because they offer a sense of security.\n\u201cPart of the role that we serve is to create trust,\u201d he said. \u201cWhen there\u2019s uncertainty, there is a flight towards safety, across many different dimensions: economic safety, security. Our long-standing relationships with financial institutions mean they count on us to be consistent and safe.\u201d\nKeeping an Eye on Payments Modernization\nSeveral years of disruption from COVID and geopolitical tensions have accelerated a trend toward modernizing payments. The adage, \u201cIf it\u2019s not broken, don\u2019t fix it,\u201d holds less sway in an environment where paper checks introduce delays and hamper transparency.\nBoth executives said the shift to digital forms of payment is well underway, with no sign of retreat.\n\u201cThere\u2019s nobody in my world saying, \u2018We may go into a recession, let\u2019s keep printing checks,\u2019\u201d Edwards said.\nThat might have been unthinkable just a few years ago, but digitization is now the rule rather than the exception, especially for real-time disbursements and commercial card payments, he said.\nLeavitt said the contractual nature of B2B agreements means there may not be an immediate push for real-time settlement, but digitization is, nevertheless, accelerating. Suppliers may jump at faster settlement, particularly if it means guaranteeing quicker access to capital.\n\u201cA payment might be due in 30 days, but the buyer might typically pay in 45 or 60,\u201d Leavitt said. \u201cIf suppliers can get paid at day 30 for agreeing to accept commercial cards or other digital solutions, they do it. That gives them a working capital advantage.\u201d\nEmbracing new technology is a prime way to weather ups and downs.\n\u201cIn an environment like this, the push to modernize payments and find new ways to optimize money flow is magnified because CFOs are asking themselves: \u2018How do we stay relevant and cut costs \u2014 or even turn a cost center into a revenue center?\u2019\u201d Edwards said.\nComparing Today\u2019s Uncertainty to COVID\nPerhaps no benchmark stands out for abrupt disruption and uncertainty more than the COVID-19 pandemic. Although some parallels exist, such as sudden-almost-overnight supply chain backups, macroeconomic tremors, uncertainty about when there could be more certainty and sudden regulatory shifts, Leavitt and Edwards agreed this latest round of turmoil is not a repeat of those \u201cbad old days.\u201d\nWhere COVID locked down entire economies overnight, today\u2019s environment involves incremental changes in cross-border tariffs, new regulations and the specter of a potential economic slowdown.\n\u201cThe pandemic turned out to be a boom for the consumer side of the economy \u2014 money was flowing like crazy,\u201d Edwards said. \u201cWe had parts of our business that skyrocketed because people needed money to move digitally, immediately. Now the worry is an actual reduction in overall demand if consumers and businesses get spooked. That\u2019s a different issue.\u201d\nYet both leaders said the pandemic taught businesses to be \u201cscrappy,\u201d as Webster put it. Those that pivoted to digital solutions and embraced new ways of moving money emerged leaner and more capable of handling the next big upset. That culture shift remains a source of optimism.\n\u201cIf anything, this environment is shining a big bright light on the need to keep investing in modernization,\u201d Edwards said. \u201cCompanies that do so are going to be in a better position than their competitors when the dust settles.\u201d\nReason for Optimism\nIn a world where headlines warn of rising tariffs, cross-border tensions and inflationary pressures, a persistent question emerges: Will businesses clamp down and wait it out or charge ahead with digitization and innovation? As Leavitt and Edwards said, companies have learned from the shock of COVID that uncertainty is inevitable, but agility is a choice. By embracing modern payment solutions, optimizing the office of the CFO and doubling down on secure, trustworthy partnerships, businesses can navigate these tumultuous times.\n\u201cThere\u2019s reason for optimism,\u201d Webster said, adding that \u201cthere are opportunities for those who find them and pursue them.\u201d\nWhen asked if another wave of uncertainty might upend business altogether, Edwards pointed back to lessons learned from the pandemic.\n\u201cIt\u2019s a different world than COVID, but businesses got scrappy then, and that\u2019s not going away,\u201d he said. \u201cWe\u2019re all in better shape to handle the next storm.\u201d\nThe post Payments CEOs Say Uncertainty May Be the New Normal. But Getting Back to Business Takes Center Stage appeared first on PYMNTS.com.", "date_published": "2025-04-21T04:03:33-04:00", "date_modified": "2025-04-20T22:05:17-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/CEO-panel.jpg", "tags": [ "B2B", "B2B Payments", "Boost Payment Solutions", "CFO", "commercial payments", "cross-border payments", "Dean Leavitt", "Digital Payments", "digital transformation", "Drew Edwards", "Economy", "fraud", "Global Payments", "Ingo Payments", "Main Feature", "News", "partnerships", "PYMNTS News", "pymnts tv", "regulations", "Security", "supplier payments", "tariffs", "taxes", "Technology", "vendor payments", "video" ] }, { "id": "https://www.pymnts.com/?p=2688078", "url": "https://www.pymnts.com/economy/2025/chicago-fed-tariff-related-panic-buying-could-precede-economic-slump/", "title": "Chicago Fed: Tariff-Related Panic Buying Could Precede Economic Slump", "content_html": "\u201cPanic buying\u201d in the U.S. could create an \u201cartificially high\u201d level of economic activity.
\nThat\u2019s according to Federal Reserve Bank of Chicago President Austan Goolsbee, who discussed the uptick in purchasing by businesses and consumers in response to new tariffs Sunday (April 20) in an interview with \u201cFace the Nation\u201d on CBS.
\n\u201cThat kind of preemptive purchasing is probably even more pronounced on the business side,\u201d Goolsbee said. \u201cWe heard a lot about preemptive building-up of inventories that could last 60 days, 90 days, if there [was] going to be more uncertainty.\u201d
\nThis activity, whether it means businesses building up inventory or consumers buying costly electronics earlier than planned, could inflate U.S. economic activity in April and lead to a slowdown in the months ahead, Goolsbee argued.
\n\u201cActivity might look artificially high in the initial, and then by the summer, might fall off \u2014 because people have bought it all,\u201d he said.
\nSome industries impacted by the tariffs, such as the automotive sector, are most likely to build up big stockpiles of inventories in advance of higher levies on products from other countries.\u00a0
\nPresident Donald Trump has paused the tariffs on a host of other countries at a baseline 10%, with that freeze set to expire July 9.
\n\u201cWe don\u2019t know, 90 days from now, when they\u2019ve revisited the tariffs, we don\u2019t know how big they\u2019re going to be,\u201d Goolsbee said.
\nFor now, at least, the American consumer appears to still be on solid footing, according to PYMNTS coverage last week of the first-quarter earnings results of three of the nation\u2019s largest financial institutions.
\nThe situation remains a bit more complicated for small and medium-sized businesses (SMBs), Tom Priore, president of Priority, told PYMNTS CEO Karen Webster in a recent interview.
\nAmong the key signs to look out for when gauging the health of small businesses include whether they are retaining employees or laying them off, and tracking the levels of card delinquencies, which indicate a stretched consumer who might cut back drastically.
\nThe philosophy of what Priore termed \u201cAmerican optimism\u201d will prevail, and that optimism is a fixture of the business landscape.
\n\u201cThe uncertainty today will be reconciled and cleaned up,\u201d he told Webster, adding that \u201cour mission is to provide that flexible financial tool set \u2026 it doesn\u2019t matter what environment you\u2019re in. Accelerating cash flow and optimizing working capital are always good things.\u201d
\nThe post Chicago Fed: Tariff-Related Panic Buying Could Precede Economic Slump appeared first on PYMNTS.com.
\n", "content_text": "\u201cPanic buying\u201d in the U.S. could create an \u201cartificially high\u201d level of economic activity.\nThat\u2019s according to Federal Reserve Bank of Chicago President Austan Goolsbee, who discussed the uptick in purchasing by businesses and consumers in response to new tariffs Sunday (April 20) in an interview with \u201cFace the Nation\u201d on CBS.\n\u201cThat kind of preemptive purchasing is probably even more pronounced on the business side,\u201d Goolsbee said. \u201cWe heard a lot about preemptive building-up of inventories that could last 60 days, 90 days, if there [was] going to be more uncertainty.\u201d\nThis activity, whether it means businesses building up inventory or consumers buying costly electronics earlier than planned, could inflate U.S. economic activity in April and lead to a slowdown in the months ahead, Goolsbee argued.\n\u201cActivity might look artificially high in the initial, and then by the summer, might fall off \u2014 because people have bought it all,\u201d he said.\nSome industries impacted by the tariffs, such as the automotive sector, are most likely to build up big stockpiles of inventories in advance of higher levies on products from other countries.\u00a0\nPresident Donald Trump has paused the tariffs on a host of other countries at a baseline 10%, with that freeze set to expire July 9.\n\u201cWe don\u2019t know, 90 days from now, when they\u2019ve revisited the tariffs, we don\u2019t know how big they\u2019re going to be,\u201d Goolsbee said.\nFor now, at least, the American consumer appears to still be on solid footing, according to PYMNTS coverage last week of the first-quarter earnings results of three of the nation\u2019s largest financial institutions.\nThe situation remains a bit more complicated for small and medium-sized businesses (SMBs), Tom Priore, president of Priority, told PYMNTS CEO Karen Webster in a recent interview.\nAmong the key signs to look out for when gauging the health of small businesses include whether they are retaining employees or laying them off, and tracking the levels of card delinquencies, which indicate a stretched consumer who might cut back drastically.\nThe philosophy of what Priore termed \u201cAmerican optimism\u201d will prevail, and that optimism is a fixture of the business landscape.\n\u201cThe uncertainty today will be reconciled and cleaned up,\u201d he told Webster, adding that \u201cour mission is to provide that flexible financial tool set \u2026 it doesn\u2019t matter what environment you\u2019re in. Accelerating cash flow and optimizing working capital are always good things.\u201d\nThe post Chicago Fed: Tariff-Related Panic Buying Could Precede Economic Slump appeared first on PYMNTS.com.", "date_published": "2025-04-20T19:01:47-04:00", "date_modified": "2025-04-20T19:04:53-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/panic-buying-tariffs.jpg", "tags": [ "austan goolsbee", "Consumer Spending", "economic activity", "federal reserve", "Federal Reserve Bank of Chicago", "inventories", "News", "panic buying", "PYMNTS News", "small businesses", "SMBs", "tariffs", "What's Hot", "Economy" ] }, { "id": "https://www.pymnts.com/?p=2688029", "url": "https://www.pymnts.com/economy/2025/tariff-could-bring-notable-markdowns-to-growth-forecasts-worldwide/", "title": "Tariff Could Bring \u2018Notable Markdowns\u2019 to Growth Forecasts Worldwide", "content_html": "A wave of new economic surveys and projections this week will illustrate the impact of America\u2019s tariff campaign.
\nAs Bloomberg News reports, these include a forecast from the International Monetary Fund (IMF) \u2014 expected Tuesday (April 22) \u2014 which will lower the group\u2019s outlook for economic growth.\u00a0
\n\u201cOur new growth projections will include notable markdowns, but not recession,\u201d said IMF Managing Director Kristalina Georgieva. \u201cWe will also see markups to the inflation forecasts for some countries. We will caution that protracted high uncertainty raises the risk of financial-market stress.\u201d
\nThe week will bring new purchasing manager indexes and business surveys from several countries, as well as revised data from the University of Michigan\u2019s consumer sentiment survey and new insights from the Fed\u2019s Beige Book on regional economic conditions.
\nThe report said this combined picture could help finance ministers and central bankers meeting in Washington this week assess the impact of President Donald Trump\u2019s efforts to reshape global trade via tariffs, some of which are now on hold.
\nGeorgieva told Bloomberg she hopes this week, which also features a meeting of Group of 20 finance chiefs, might bring down the temperature in global trade relations.
\n\u201cWe need a more resilient world economy, not a drift to division,\u201d she said. The meetings in D.C. \u201cprovide a vital forum for dialogue at a vital time.\u201d
\nIn other tariff-related news, PYMNTS recently explored the levies\u2019 impact on small and medium-sized businesses (SMBs) in a conversation with Priority CEO Tom Priore.
\n\u201cFrom the SMB standpoint, the exposure to tariffs at the supply chain level may actually be pretty small \u2026 but the main concern and the damage to small business lies with consumer uncertainty,\u201d he told PYMNTS CEO Karen Webster.
\nResearch by PYMNTS Intelligence found that close to 80% of consumers are pulling back on at least some purchases because of this uncertainty, as they look to build up their savings or wait to see what comes next.
\n\u201cWhere the rubber\u2019s going to meet the road is what the consumer decisions are,\u201d Priore said, adding, \u201cIf consumer spending does slow, it\u2019s going to affect all businesses.\u201d
\nAgainst that backdrop, SMBs are aiming to be predictive and proactive about managing their operations, he said, trying to figure out how they can best manage cash flow and optimize working at a time when many businesses depend on the personal credit cards of their owners.
\n\u201cWhat we\u2019re seeing, not just on the small business front but also with larger companies, is the utilization of credit products to extend working capital,\u201d Priore said.
\nThe post Tariff Could Bring ‘Notable Markdowns’ to Growth Forecasts Worldwide appeared first on PYMNTS.com.
\n", "content_text": "A wave of new economic surveys and projections this week will illustrate the impact of America\u2019s tariff campaign.\nAs Bloomberg News reports, these include a forecast from the International Monetary Fund (IMF) \u2014 expected Tuesday (April 22) \u2014 which will lower the group\u2019s outlook for economic growth.\u00a0\n\u201cOur new growth projections will include notable markdowns, but not recession,\u201d said IMF Managing Director Kristalina Georgieva. \u201cWe will also see markups to the inflation forecasts for some countries. We will caution that protracted high uncertainty raises the risk of financial-market stress.\u201d\nThe week will bring new purchasing manager indexes and business surveys from several countries, as well as revised data from the University of Michigan\u2019s consumer sentiment survey and new insights from the Fed\u2019s Beige Book on regional economic conditions.\nThe report said this combined picture could help finance ministers and central bankers meeting in Washington this week assess the impact of President Donald Trump\u2019s efforts to reshape global trade via tariffs, some of which are now on hold.\nGeorgieva told Bloomberg she hopes this week, which also features a meeting of Group of 20 finance chiefs, might bring down the temperature in global trade relations.\n\u201cWe need a more resilient world economy, not a drift to division,\u201d she said. The meetings in D.C. \u201cprovide a vital forum for dialogue at a vital time.\u201d\nIn other tariff-related news, PYMNTS recently explored the levies\u2019 impact on small and medium-sized businesses (SMBs) in a conversation with Priority CEO Tom Priore.\n\u201cFrom the SMB standpoint, the exposure to tariffs at the supply chain level may actually be pretty small \u2026 but the main concern and the damage to small business lies with consumer uncertainty,\u201d he told PYMNTS CEO Karen Webster.\nResearch by PYMNTS Intelligence found that close to 80% of consumers are pulling back on at least some purchases because of this uncertainty, as they look to build up their savings or wait to see what comes next.\n\u201cWhere the rubber\u2019s going to meet the road is what the consumer decisions are,\u201d Priore said, adding, \u201cIf consumer spending does slow, it\u2019s going to affect all businesses.\u201d\nAgainst that backdrop, SMBs are aiming to be predictive and proactive about managing their operations, he said, trying to figure out how they can best manage cash flow and optimize working at a time when many businesses depend on the personal credit cards of their owners.\n\u201cWhat we\u2019re seeing, not just on the small business front but also with larger companies, is the utilization of credit products to extend working capital,\u201d Priore said.\nThe post Tariff Could Bring ‘Notable Markdowns’ to Growth Forecasts Worldwide appeared first on PYMNTS.com.", "date_published": "2025-04-20T15:54:57-04:00", "date_modified": "2025-04-20T15:56:11-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/International-Monetary-Fund-tariffs.jpg", "tags": [ "beige book", "consumer sentiment", "Consumer Spending", "Economy", "IMF", "International Monetary Fund", "Kristalina Georgieva", "News", "PYMNTS News", "tariffs", "trade", "trade war", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2686951", "url": "https://www.pymnts.com/economy/2025/initial-claims-for-unemployment-fall-by-9000-as-labor-market-remains-stable/", "title": "Initial Claims for Unemployment Fall by 9,000 as Labor Market Remains Stable", "content_html": "The number of initial claims for unemployment insurance in the U.S. fell by 9,000 during the week ended Saturday (April 12), signaling a stable labor market.
\nThe number of jobless claims dropped to 215,000, down from the previous week\u2019s revised level of 224,000, the Department of Labor said in a Thursday (April 17) press release.
\nThe four-week moving average declined by 2,500 and was gauged at 220,750, down from the previous week\u2019s revised number of 223,250, according to the release.
\nBoth the number of initial claims and the four-week moving average were the lowest in two months, Bloomberg reported Thursday.
\nThe number of initial claims was lower than the 225,000 forecast by economists and was \u201cconsistent with a stable market,\u201d the report said.
\nEconomists polled by Reuters also expected to see 225,000 initial claims during the week.
\nReuters said that \u201clow layoffs have anchored the labor market,\u201d but added that economists expect unemployment to rise in the coming months due to declines in business sentiment.
\nThe Federal Reserve Bank of New York said Monday (April 14) that unemployment expectations \u2014 or the mean probability that the U.S. unemployment rate will be higher one year from now \u2014 jumped by 4.6 percentage points in March and reached the highest reading since the depth of the pandemic in April 2020.
\nThe Department of Labor also reported Thursday that the number for insured unemployment increased by 41,000 during the week ended April 5. It rose to 1,885,000, up from the previous week\u2019s revised level of 1,844,000.
\nThe insured unemployment rate remained at 1.2%, unchanged from the previous week, according to the press release.
\nThe states with the greatest decreases in initial claims during the week ended April 5 were Kentucky, Iowa and New York. They saw decreases of 2,955, 1,254 and 1,085, respectively, per the release.
\nIn comments submitted to the Department of Labor, Iowa attributed its decline in initial claims to fewer layoffs in manufacturing, while New York pointed to fewer layoffs in three industries: accommodation and food services; transportation and warehousing; and information industries. Kentucky did not submit comments.
\nCalifornia had the largest increase in initial claims, at 5,410, and did not submit comments to the Department of Labor. Oregon, which had the second biggest increase, with 1,331 initial claims, cited layoffs in the educational services industry.
\nThe post Initial Claims for Unemployment Fall by 9,000 as Labor Market Remains Stable appeared first on PYMNTS.com.
\n", "content_text": "The number of initial claims for unemployment insurance in the U.S. fell by 9,000 during the week ended Saturday (April 12), signaling a stable labor market.\nThe number of jobless claims dropped to 215,000, down from the previous week\u2019s revised level of 224,000, the Department of Labor said in a Thursday (April 17) press release.\nThe four-week moving average declined by 2,500 and was gauged at 220,750, down from the previous week\u2019s revised number of 223,250, according to the release.\nBoth the number of initial claims and the four-week moving average were the lowest in two months, Bloomberg reported Thursday.\nThe number of initial claims was lower than the 225,000 forecast by economists and was \u201cconsistent with a stable market,\u201d the report said.\nEconomists polled by Reuters also expected to see 225,000 initial claims during the week.\nReuters said that \u201clow layoffs have anchored the labor market,\u201d but added that economists expect unemployment to rise in the coming months due to declines in business sentiment.\nThe Federal Reserve Bank of New York said Monday (April 14) that unemployment expectations \u2014 or the mean probability that the U.S. unemployment rate will be higher one year from now \u2014 jumped by 4.6 percentage points in March and reached the highest reading since the depth of the pandemic in April 2020.\nThe Department of Labor also reported Thursday that the number for insured unemployment increased by 41,000 during the week ended April 5. It rose to 1,885,000, up from the previous week\u2019s revised level of 1,844,000.\nThe insured unemployment rate remained at 1.2%, unchanged from the previous week, according to the press release.\nThe states with the greatest decreases in initial claims during the week ended April 5 were Kentucky, Iowa and New York. They saw decreases of 2,955, 1,254 and 1,085, respectively, per the release.\nIn comments submitted to the Department of Labor, Iowa attributed its decline in initial claims to fewer layoffs in manufacturing, while New York pointed to fewer layoffs in three industries: accommodation and food services; transportation and warehousing; and information industries. Kentucky did not submit comments.\nCalifornia had the largest increase in initial claims, at 5,410, and did not submit comments to the Department of Labor. Oregon, which had the second biggest increase, with 1,331 initial claims, cited layoffs in the educational services industry.\nThe post Initial Claims for Unemployment Fall by 9,000 as Labor Market Remains Stable appeared first on PYMNTS.com.", "date_published": "2025-04-17T14:14:02-04:00", "date_modified": "2025-04-17T14:14:02-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2022/02/unemployment.jpg", "tags": [ "department of labor", "Economy", "jobless claims", "jobs", "labor", "labor market", "News", "PYMNTS News", "unemployment", "unemployment claims", "What's Hot" ] } ] }