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Juniata College welcomes vice president for finance

HUNTINGDON — Juniata College will welcome Jeff Scaccia as its new vice president for business and finance this summer. In this role, Scaccia will serve as the Chief Financial Officer, managing the areas of business, finance, accounts payable, investments, facilities operations, payroll, and auxiliary services. His first day will be July 10. “We are extremely excited to welcome Jeff to the Juniata community. Jeff’s extensive experience in higher education and financial management will be an asset to the College,” said Juniata College President James A. Troha. “Jeff is going to ...

Asia follows Wall Street up on hopes Fed will ease off rate hikes

BEIJING (AP) — Asian stock markets followed Wall Street higher Friday ahead of an update on the U.S. jobs market after Federal Reserve officials reignited hopes another interest rate hike might be postponed and lawmakers gave final approval to a deal to avert a government debt default. Shanghai, Tokyo, Hong Kong and Seoul advanced. Oil prices strengthened. Wall Street’s benchmark S&P 500 index rallied 1% on Thursday after data showed manufacturing and retail activity weakening. That added to hopes the Fed might decide upward pressure on prices is easing and more rate hikes ...

Journalists to strike June 5 at the largest US newspaper chain

The Associated Press Journalists across the U.S. will walk off their jobs next week at roughly two dozen newsrooms run by Gannett, the largest newspaper chain in the U.S., their union said Thursday. The mostly one-day strike, which will start June 5, aims to protest Gannett’s leadership and cost-cutting measures imposed since its 2019 merger with GateHouse Media. According to the NewsGuild, the union representing workers at more than 50 Gannett newsrooms, those measures include job cuts and the shuttering of dozens of newsrooms; squeezed pay and benefits; and a failure to ...

US steps up hiring, but unemployment rate also rises

WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. Friday’s report from the government reflected the job market’s resilience after more than a year of aggressive interest rate increases by the Fed. Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels. Overall, the report painted a ...

Wave of retirements leaves some US industries desperate

WASHINGTON (AP) — Kwasi Bandoh, a senior recruiter for an airline, stood before a group of aviation mechanic students at their graduation ceremony last month and congratulated them for all having jobs. As some of the students began nudging each other, Bandoh realized that perhaps not every one of them had already been hired. “Who doesn’t have a job?” Bandoh demanded, surveying the 15 graduates before him at the Pittsburgh Institute of Aeronautics’ training facility in Hagerstown, Maryland. “Who doesn’t? Because I have a job for you.” The crowd of about 70 friends ...

Average long-term US mortgage rate climbs to 6.79 percent this week

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since November, driving up borrowing costs for would-be homebuyers at a time when the housing market is being held back by a near record-low inventory of homes on the market. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan rose to 6.79% from 6.57% last week. A year ago, the rate averaged 5.09%. The latest increase marks the third in three weeks and lifts the average rate on a 30-year home loan to its highest level since it surged to ...