Tag Archives: Economy

The U.S. labor market remained red-hot in July despite expectations job growth would cool as tighter monetary conditions and company layoffs stoked fears of a recession. The Labor Department released its latest monthly jobs report at 8:30 a.m. ET on Friday. Here were the key numbers from the report, compared to economist estimates compiled by Bloomberg: Non-farm payrolls: +528,000 vs. +250,000 Unemployment rate: 3.5% vs. 3.6% Average hourly earnings, month-over-month: +0.5% vs. +0.4% Average… Source link

(Bloomberg) — Whatever else is on Americans’ minds — and that’s a long list right now — the state of the economy looms large in any US election. That spells big trouble for Democrats in November’s midterm vote. Most Read from Bloomberg A new study by Bloomberg Economics takes one gauge with a knack of predicting ballot outcomes — the misery index, calculated by adding up the inflation and unemployment rates — and projects it forward through election day. The result: Based on past… Source link

If there is any upside for investors from the slowing U.S. economy, it’s that the Federal Reserve may have no other choice but to put the brakes on its aggressive pace of rate hikes later this year. “There are two reasons that they would slow the pace,” Goldman Sachs Chief U.S. Economist David Mericle told Yahoo Finance Live at the firm’s 10,000 Small Businesses Summit (video above). “One reason is I think the economy is going to slow a lot. And you’re going to see that in a much more… Source link

“The Federal Reserve isn’t trying to kill the economy, it’s just trying to end free money,” said veteran strategist John Stoltzfus. “Free money is bad in our view in that it encourages all kinds of speculation, it inflates asset classes.. and it creates instability in the economy,” added Oppenheimer’s chief asset management strategist. Stolttzfus’ comments come on the heels of last month’s jobs data highlighting continued tight labor market conditions. Market watchers see the… Source link

The U.S. labor market remained a bright spot in the economy last month despite mounting talks of a recession, data from the Labor Department showed Friday. Here are the key numbers from Friday’s report: Non-farm payrolls: +372,000 vs. +268,000 expected and a revised +384,000 in May Unemployment rate: 3.6% vs. 3.6% expected and 3.6% in May Average hourly earnings, month-over-month: +0.3% vs. +0.3% expected and a revised +0.4% in May Average hourly earnings, year-over-year: +5.1% vs. +5.0%… Source link

Energy inputs are always going to be cyclical with the economy. This is the primary topic of this week’s “ETF Report” on Yahoo Finance. VettaFi’s financial futurist, Dave Nadig, was on hand to discuss how the energy sector has shifted, considering where things are in the market. As Nadig states, “When people think the economy is doing well, oil tends to run up. On the contrary, when people think we’re heading for a recession, oil tends to come down. However, digging under… Source link

‘Recession is inevitable’: Elon Musk now thinks there’s a greater than 50-50 chance that the economy will decline. Here are 3 simple ways to protect your money The U.S. economy made a strong recovery from the COVID-19 pandemic. But according to Tesla CEO and billionaire Elon Musk, the good times might be over pretty soon. “I think a recession is inevitable at some point,” he said at the Qatar Economic Forum earlier this month. “As to whether there is a recession in the near term,… Source link

‘We are in a recession’: Long-time bull Cathie Wood warns investors about the ‘big problem’ in the economy. Here’s what she likes today The official GDP estimate for Q2 won’t be available until later next month, but many experts – including Ark Invest’s Cathie Wood – are calling for a recession. “We think we are in a recession,” Wood says in a recent CNBC interview. “We think a big problem out there is inventories — the increase of which I’ve never seen this large in… Source link

The U.S. economy shrank at an annualized pace of 1.6% in the first quarter, reflecting a deeper contraction than previously reported. The Bureau of Economic Analysis’s third and final estimate of first-quarter GDP released Wednesday morning showed a 1.6% annualized drop in economic growth to start 2022, more than the 1.5% previously reported and which was expected by economists, according to estimates from Bloomberg. Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent… Source link

You might have heard: Joe Biden is shaping up as the next Jimmy Carter. As a Democratic president in the 1970s, Carter had to deal with surging inflation, as Biden does now. Carter also faced an energy crisis, triggered abroad, much as Biden is now trying to tackle soaring gasoline prices caused by Russia’s invasion of Ukraine. Carter famously claimed the nation faced a “crisis in confidence,” which is arguably the case under Biden, too, given that consumer confidence, by some measures,… Source link