By Augusta Saraiva US employers scaled back hiring in April and the unemployment rate unexpectedly rose, suggesting some cooling is underway in the labor market after a strong start to the year. Nonfarm payrolls advanced 175,000 last month, the smallest gain in six months, a Bureau of Labor Statistics report showed Friday. A later release showed that business activity […]
By Emily Spatz Construction has commenced on a residential building in Kendall Square that is set to become the tallest building in Cambridge, investors announced last week. The building will rise at 121 Broadway and stand over 450 feet tall, according to architects on the project. Boston Properties (BXP), a real estate investment trust, announced that construction […]
By Grant Welker A planned food market in East Cambridge amid a series of major new developments has its first tenant, and it’s a restaurant from a well-known restaurateur in the neighborhood. Chef Will Gilson will open AMBA this summer, a Mediterranean-inspired café that’ll be part of the new First Street Market just a few blocks from other […]
By Owners Developers & Managers Somerville, MA According to Rafi Properties, owner and operator of Somernova, the 7.4-acre innovation campus and community dedicated to helping people and companies iterate and grow faster, Somerville Media Center (SMC) will expand their footprint at the campus and open a new media center designed to spark creativity and amplify community […]
By Isabelle Lee Good morning. Powell signals a delay to rate cuts. China tries to settle nerves about its new stock exchange rules. And the US considers more sanctions against Iran. Here’s what’s moving markets. — Isabelle Lee Staying high Federal Reserve Chair Jerome Powell said recent inflation data have indicated it will likely take longer for the central […]
By Jessica Flint Gabrielle Sloan, 30, and her husband, Brandon Sloan, 30, never thought they’d live on a golf course. Gabrielle doesn’t even play golf—yet, at least. But in January 2020, the Sloans spent $660,000 to buy a three-bedroom, roughly 1,960-square-foot ranch house on approximately 0.25 acres that backs up to the course at Tequesta Country […]
By Lydia DePillis If the economy is slowing down, nobody told the labor market. Employers added 275,000 jobs in February, the Labor Department reported Friday, in another month that exceeded expectations. It was the third straight month of gains above 200,000, and the 38th consecutive month of growth — fresh evidence that after surging back […]
By David Cifarelli A new beer hall with a 17,000 square-foot tap room, outdoor garden and rotating roster of food trucks is expected to open just outside of Boston later this year. The Great American Beer Hall is projected to open at 142 Mystic Ave. in Medford in the late summer or early fall of 2024. […]
By Nick Timiraos Federal Reserve officials start the year with a problem they would ordinarily love to have: Inflation has fallen much faster than expected. It does, nonetheless, pose a conundrum. The reason: If inflation has sustainably returned to the Fed’s 2% target, then real rates—nominal rates adjusted for inflation—have risen and might be restricting economic activity too […]
By Gabriel T. Rubin The recession never showed up in 2023. Consumers made sure of it. The U.S. economy grew 3.1% over the past year, the Commerce Department said Thursday. A resilient labor market supported strong consumer spending and brushed aside a feared downturn. A year ago economists saw a recession as very likely and projected anemic 0.2% growth for the year. […]
