US added only 20,000 jobs last month fewest since September 2017

New York (CNN Business)The US economy added only 20,000 jobs in February, a surprisingly low number that bucked the trend of huge jobs gains in recent months. The numbers may be a sign that after 101 consecutive months of job growth, the economy is running out of available workers. There have been fewer unemployed people than open jobs since June 2018. It may also be more troubling evidence of a slowdown, which has been showing up in other economic data. Employers have been rocked in recent months by a volatile stock market, uncertain political environment and weakness overseas. However, it could also be a snowstorm-related fluke. “This is pretty much a weather story,” said Scott Brown, chief economist with the …

As GM’s Lordstown plant idles, an iconic American job nears extinction

Lordstown, Ohio (CNN Business)When Felice Robinson was hired at General Motors’ Lordstown plant in 1995, she thought the rest of her life was taken care of. Read the letters kids wrote to save their town’s auto plant GM is getting rid of these 6 cars Without GM, Lordstown, Ohio, will never be the same “We understand that the decision that was made is very difficult for this community because it impacts people and families,” GM spokesman Daniel Flores told CNN Business. “Unfortunately, customers are not buying the product at a volume that would justify continued production. In the end, we made this decision at a point in time where we have the ability to offer opportunities to people who want …

China steps up efforts to support its slowing economy

London (CNN Business)China is taking new steps to encourage bank lending and stimulate the country’s flagging economy. Economists said the move was partly about managing the amount of money in circulation ahead of Chinese New Year, when cash is often exchanged as gifts. But Capital Economics said the policy change is “also intended to provide support to the economy and will be reinforced with further easing soon.” “Given the pressures the economy is facing though, it could still be months before growth stabilizes,” noted analysts at the research firm. After decades of sharp expansion, the Chinese economy is cooling. Growth in 2018 is set to be the weakest since 1990, and 2019 looks even worse. China is feeling the effects …