Cooling: U.S. labor cost growth cooled last quarter from a year earlier, reassuring Federal Reserve policymakers that wage pressures are gradually diminishing and no longer a key driver of inflation. The employment cost index, which tracks changes in wages and benefits, increased 3.8% from the same period in 2023, the slowest pace in more than three years, according to Bureau of Labor Statistics figures released Friday. Read more from Bloomberg. A subscription may be required.
Profits down: The annual profits of ExxonMobil and Chevron fell in 2024, as anemic natural gas prices and narrowed refining margins took a toll. Despite the weaker results, the companies reported Friday that they pumped record amounts of oil and gas from certain oil fields and sent record payouts to investors last year. Read more from The Wall Street Journal.
A sleeker look: The Louis Armstrong New Orleans International Airport (MSY) just got a new logo, and there’s more to it than meets the eye. The updated logo dropped just in time for the upcoming Super Bowl, when an influx of out-of-state fans will bustle through the airport. MSY is taking advantage of the increased publicity, using it as an opportunity to scrap its old logo for a sleeker, more intriguing graphic. Read more from Fast Company.
