By Jason Lange WASHINGTON (Reuters) - The White House said on Thursday it expects America's strengthening economy will temporarily halt the troubling decline in the share of workers who have jobs or are looking for one. First, if the labor force participation rate continued to decline sharply as it has since the 2007-09 recession, it could mean higher rates of inflation lurk around the corner and will require the Federal Reserve to raise interest rates soon. At just under 63 percent, the participation rate has dropped to its lowest levels since the 1970s. Economists at the White House, however, said their analysis of labor market history suggested much of the recent decline in the rate was because a weak economy had led out-of-work Americans to put off their jobs hunts.
NEW YORK (AP) — The chief negotiator for Long Island Rail Road unions said Thursday they were "very, very close" to averting a weekend strike at the nation's largest commuter railroad after Gov. Andrew Cuomo became directly involved in the talks.
Cars and houses were riddled with bullets during a high-speed chase and hostages were thrown from a fleeing SUV after a bank robbery Wednesday that led to the deaths of a hostage and two robbers, police said.
MINEOLA, N.Y. (AP) — Gov. Andrew Cuomo has become directly involved in talks to avoid a weekend strike at the nation's largest commuter railroad, with governor saying Thursday that "time is very short" to resolve the contract dispute.