The Dow climbed to another record high yesterday as investors dumped Big Tech stocks and bet on companies leveraged to a strong economic comeback. The divide between value stocks in the market and growth was significant with the tech-heavy Nasdaq Composite losing 2% as the Dow soared.
Bad news for house hunters: Hiring has slowed for construction workers. Homebuilders have slowed their hiring pace, even as buyers are clamoring for properties to purchase. Analysts and economists say the slowdown is a reflection of the exceptional challenge’s construction firms are facing in sourcing building materials. Employment in the broader construction sector was flat in April, according to the Bureau of Labor Statistics.
Newly unemployed Oregonians will get 9% more from the state each week beginning in July, with weekly benefits rising to as much as $1,033 for some workers. The higher benefits are the result of an annual adjustment to the size of state unemployment benefits tied to Oregonians’ average wages. When pay goes up for working Oregonians, benefits go up for the unemployed. The new payments kick in after July 4, according to the Oregon Employment Department, and only apply to new jobless claims. It won’t change the benefits for those who filed claims before then.