In September, 4.4 million people left their jobs, and companies are struggling to fill open positions. Since April, more than 24 million people have decided to quit their jobs. The Labor Department reported more than 10 million, more precisely 10.4 million job openings in September. Moreover, there are 5 million fewer people in the labor …
Inflation jumped to the highest level in several decades. The consumer price index (CPI) jumped 6.2% from a year ago, the most since 1990. The CPI is a basket of products ranging from gasoline to rents and groceries. In October, inflation across a large swath of products that people have to buy on a daily …
Real estate developers in China are struggling to cope with their problems. Shares of Kaisa Group Holdings listed in Hong Kong were halted on Friday due to one very serious issue. Earlier this week, a real estate developer from Hong Kong missed a payment on a wealth management product. Even before Kaisa Group Holdings missed …
Is Kaisa Group Holdings Next in Line to Go Bankrupt? Read More »
Millions of people across the U.S. lost their jobs due to the coronavirus pandemic in 2020. Hopefully, the country’s economy started to recover, but it won’t be easy to solve all issues in a short period of time. Last week, the U.S. unemployment picture improved once again, with initial filings for unemployment insurance falling to …
U.S.Weekly Jobless Claims Report and its Importance Read More »
The world’s largest trade deal will come into force in January of 2022. It comes as Australia, as well as New Zealand, ratified the agreement. On Tuesday, Australia released a statement regarding the trade deal. It said that its ratification together with New Zealand’s paved the way for the trade deal to enter into force …
How the Largest Trade Deal Will Transform the World Read More »
The U.S. economy increased at an annual rate of 2 per cent in Q3, in the latest sign of how the recent delta variant of the COVID-19 held back the economic recovery. According to the Bureau of Economic Analysis, the gross domestic product figures (GDP) for the year’s third quarter came in far lower than the …
U.S. Economy Surged at An Annual Rate of 2% in Q3 Read More »
According to the official data, the Canadian economy most likely underperformed in the year’s third quarter. Notably, it prompts analysts to forecast that the Bank of Canada might raise interest rates more slowly than anticipated. Statistics Canada announced that the economy of Canada expanded by 0.4% in August and seemed set to record no growth …
Canadian Economy Declined, Reduced Chances of Early Rates Read More »
Twitter CEO Jack Dorsey announced that inflation in the U.S. is going to get considerably worse. On Friday, Jack posted on his Twitter that hyperinflation will change everything and added that it’s happening. Hyperinflation happens when inflation (the rising price of goods and services) increases uncontrollably for a while. Remarkably, it is typically caused by …
Twitter CEO Says U.S. Is Going to Get Considerably Worse Read More »
The latest news showed that the Bank of England will be the first major bank to raise interest rates in the post-pandemic cycle. However, according to economists polled by Reuters, the first hike will now come until early next year. Like its peers, the Bank of England cut borrowing costs to a record low as …
Bank of England to raise interest rates to 0.25% Read More »
The latest news shows that Goldman Sachs lowered its U.S. economic growth target to 5.6% for 2021. Furthermore, it cut its economic forecast to 4% for 2022. The bank cited an expected drop in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously anticipated. According to …
Goldman Sachs cut its U.S. economic growth target to 5.6% Read More »
According to a closely watched business survey, severe shortages of workers and supplies have hardly hit Britain’s economy. Notably, economic growth in the United Kingdom has been dragged down to the weakest levels since COVID-19 pandemic restrictions were eased in March. Remarkably, the latest data from IHS Markit and the Chartered Institute of Procurement and …
The UK economic growth slows to weakest since March Read More »
According to the government statistics agency IBGE, Brazil’s economy shrank slightly in the three months to June, stalling more than anticipated as a second wave of the pandemic hit demand. The 0.1% dip in Brazil’s GDP from the previous quarter was worse than the median forecast for 0.2% growth. Remarkably, GDP marked a sharp slowdown …
Brazil GDP falls as the second wave of COVID hits recovery Read More »
China’s economy stalled this month since the country struggled to stabilize the pandemic situation and supply bottlenecks. The slowdown in the manufacturing sector shows that the country’s economy is still not in the recovery phase. An official survey revealed that China’s factory activity grew at a slower pace. It dropped to 50.1 in August from …
China’s economy stalled amid COVID-19 pandemic chaos Read More »
South Korea’s central bank raised interest rates on August 26 as financial risks increased. The Bank of Korea lifted its policy to 0.75% for the first time in almost three years from a record low of 0.5%. Remarkably, South Korea became the first developed economy to raise interest rates during the pandemic era. The move …
The German economy increased by more than expected in the second quarter of the year. The latest data showed that Europe’s largest economy gained 1.6% between April and June compared with the previous quarter. The better than anticipated results came as the easing of coronavirus curbs encouraged consumers to dip into record savings piled up …
The German economy rose more than expected in Q2 2021 Read More »
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