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Nearly 20% firms expect job cuts


The U.S. government has closed a yearslong investigation into exhaust odors in Ford Explorer passenger cabins, determining that the SUVs don’t have high levels of carbon monoxide and don’t need to be recalled.

The National Highway Traffic Safety Administration says it reviewed more than 6,500 consumer complaints and tested SUVs in the field.

The probe covered nearly 1.5 million Explorers from the 2011 to 2017 model years and involved complaints of sickness and crashes that involved three deaths and 657 injuries. Many complaints came from police departments.

The agency said Monday that testing showed no Explorers that were sealed under a 2017 Ford service campaign had carbon monoxide levels higher than Environmental Protection Agency limits.

Survey: Nearly 20% firms expect job cuts

A new survey of business economists suggests U.S. job market conditions are beginning to soften, with firms indicating an easing of labor shortages and a pullback in hiring expectations.

A National Association for Business Economics survey showed about a third of respondents say their firms are not facing any labor shortages, and nearly 20% expect employment at their company to fall in the coming months.

“For the first time since 2020, more respondents expect falling rather than increased employment at their firms in the next three months,” NABE President Julia Coronado, founder and president of MacroPolicy Perspectives LLC, said in a statement. “Fewer respondents than in recent years expect their firms’ capital spending to increase in the same period.”

The figures highlight concerns that more companies will begin to shed workers as the impact of higher interest rates work their way through the broader economy.


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