Tag Archives: Economy

The US economy ended 2023 on a high note. The labor market added 216,000 jobs in the month of December, up from 173,000 the previous month, surprising Wall Street once again to close out 2023. Economists surveyed by Bloomberg had expected 175,000. Data from the Bureau of Labor Statistics released on Friday showed the unemployment rate was 3.7% for the month, flat from the rate seen in November. Economists had expected the unemployment rate to tick higher to 3.8%. Investors were closely… Source link

[unable to retrieve full-text content]Charting the global economy: Euro-area recession looks likely  Yahoo Finance Source link

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Chinese stocks listed in the U.S. were mostly higher on Tuesday amid optimism around Beijing’s decision to drop COVID-19 quarantine rules for inbound visitors, as the world’s second-largest economy abandons its long-held “COVID Zero” policy. But the slide in shares of EV makers like Tesla (TSLA) and a drop in Apple (AAPL) stock shows the all-clear hasn’t yet been given on negative impacts from the Chinese economy. And this divided reaction on Chinese stocks shows investors both holding out… Source link

The Russian economy is approaching the end of 2022 in a far better state than many had anticipated in the spring following the invasion of Ukraine and ensuing Western sanctions. The fall in GDP has only amounted to about 3% or even less, and the U.S. dollar is still trading at less than 65 rubles. Even the Western ban on high-tech imports, although challenging, has proved manageable. But none of this means that Russia’s economy is out of the woods: many risks still remain. We asked… Source link

Forget the threat of a global recession in 2023, the team at Goldman Sachs is already thinking about global economic growth potential through the year 2075. “It is almost twenty years since we first set out long-term growth projections for the BRICs [Brazil, Russia, India, China, South Africa] economies and a little over ten years since we updated and expanded those projections to cover 70 emerging (EM) and developed (DM) economies,” Goldman’s macroeconomic team explained in a lengthy 45-page… Source link

While it may be unlikely in a politically divided Washington, Labor Secretary Marty Walsh says that immigration reform is what should be top of mind for lawmakers after Friday’s November jobs report showed stronger-than-expected results but a lingering skills gap. Friday’s report reported growth in both overall job levels as well as average hourly earnings with an unemployment rate that remained at a low 3.7% — in spite of months of interest rate increases from the Federal Reserve that… Source link

The global economic outlook for 2023 is murky at best, economists at Citi warn. “As we survey the prospects for the global economy, we see many reasons for concern, including continued challenges from the pandemic and the Russia-Ukraine war, high inflation, and headwinds from central bank rate hikes,” Citi chief economist Nathan Sheets wrote in a client note Wednesday. “Reflecting these factors, the global economy is likely to endure ‘rolling’ country-level recessions during the coming… Source link

Tech Tech industry fears legal rulings could weaken the liability shield that allowed internet platforms to flourish Source link

“When Google stumbles, it’s a bad omen for digital advertising at large,” said Evelyn Mitchell, principal analyst at Insider Intelligence, noting that Google’s core website has in the past been more resilient to ad spending downturns than social media sites like Facebook or Snap. Source link