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ECONOMY

From the column: "A broad range of efforts and events are underway in the Northland right now to foster a more welcoming culture."
Despite the second straight weekly decline reported by the Labor Department on Thursday, claims are hovering near a five-month high. There have been job cuts in sectors like technology and housing amid fears of a recession as the Federal Reserve aggressively tightens monetary policy to quell price pressures.
The president will also call on states to temporarily suspend state fuel taxes, which are often higher than federal rates, and he will challenge major oil companies to bring back idled refining capacity.
Particularly galling to the White House is the jump in industry stock buybacks, returning to investors profits that the administration wants invested in more refining capacity to bring gasoline prices down.

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May’s rate is the lowest rate reported since the state started tracking the metric in 1976, according to the Department of Employment and Economic Development. Construction posted the strongest gains.
More than a year later, price increases at 40-year peaks have proven to be anything but, so much so that the Fed this week appears ready to hike interest rates by the most since 1994 to quell them.
A hotter-than-expected inflation reading has even thrown some doubt on expectations.
Biden's plan to unveil a package to spur recovery in Latin America, help stem immigration and counter China's growing regional economic clout has been marred by Washington's decision to exclude Cuba, Venezuela and Nicaragua from the summit.
From the column: "The responsible development of peatlands can drive economic growth and create jobs while preserving the sustainability of a statewide resource."
The Biden administration seems to be intentionally jacking up gas prices with half the National Petroleum Reserve-Alaska now off the table for oil drilling and the Offshore Drilling Plan for Alaska’s Cook Inlet now canceled.

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The message, sent on Thursday and titled "pause all hiring worldwide," came two days after the billionaire told staff to return to the workplace or leave, and adds to a growing chorus of warnings from business leaders about the risks of recession.
The White House plan would apply to Americans who earned less than $150,000 in the previous year, or less than $300,000 for married couples filing jointly.
Some 39 million people will travel 50 miles or more by car during the Memorial Day Weekend, up 8.3% from a year-ago and close to pre-pandemic volumes.

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