Microsoft began laying off about 6,000 workers Tuesday, nearly 3% of its entire workforce and its largest job cuts in more than two years as the company spends heavily on artificial intelligence.

America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation.

That's why Bank of America is raising its minimum wage to $20 an hour in 2020 a year earlier than expected. Bank of America said Monday it would raise its minimum wage for its more than 208,000 US employees by the end of the first quarter of 2020. Two years ago, the bank's employees got a raise to a minimum of $15 an hour, according to a company press release. Bank of America is not the first main street bank to boost minimum compensation for its employees. In June, Citigroup lifted its minimum wage in the United States to $15 an hour.