Layoffs are infecting other industries after tech sector employers, including Alphabet, Amazon, Microsoft, and Salesforce already have chopped hundreds of thousands of workers off their payrolls.
Author: admin
BUSINESS TEMPS: “YOU’RE FIRED”
Racking up the biggest drop in temp labor since early 2021, U.S. employers jettisoned 110,800 temporary workers from August through December last year. And with the failure of the holiday shopping splurge, 35,000 temp workers were cut from the market in December alone.
CONSUMER SPENDING SLUMP
U.S. consumers spent 0.2 percent less in December than in November, even as the holidays were under way, the commerce department reported. Adjusted for inflation, the drop was 0.3 percent.
WEAK FOURTH QUARTER IN U.S., WORSE TO COME?
The U.S. economy grew by 2.9 percent in 2022’s final quarter, year on year, more than the 2.6 percent predicted by economists but less than the third quarter’s 3.2-percent expansion, showing the economy losing momentum.
MONEY MARKET FUNDS BULGE WITH NEW CASH
In the four weeks ending 26 January, the world’s money market funds took in $135 billion in new cash, the biggest haul since May 2020 when the funds bagged $175 billion as investors fled stocks and bonds when the COVID War set in, data service EFPR reported.
RUSSIA SENDS WARNING TO ISRAEL OVER DRONE ATTACK, HINTS THAT U.S. WAS INVOLVED
Israel’s reported drone attack on an Iranian military facility last weekend was seen as a significant escalation in its clandestine war with Iran and drew swift criticism from the Kremlin which also expressed suspicions that the U.S. played a role in the attack.
NETANYAHU’S MOVE TO WEAKEN COURTS GROWING
Israeli Prime Minister Benjamin Netanyahu is facing new pressures after being accused of trying to erase the country’s system of checks and balances by overhauling the judicial system.
TOP TREND 2023, WWIII: NATO NUT CALLS FOR WEST TO TRANSITION TO ‘WARTIME ECONOMY’
Rob Bauer, the head of NATO’s Military Committee, said in an interview Saturday that countries in the alliance should begin to enter a “wartime economy” in preparation for a “direct clash with Russia.”
TOP TREND 2023, MIDDLE EAST MELTDOWN: ISRAEL RAMPS UP DEADLY RAIDS ON PALESTINIANS; GUNMAN RETALIATES IN FRONT OF SYNAGOGUE
Israeli forces conducted their deadliest raid in occupied territory in years last week—killing 10 Palestinians—as Prime Minister Benjamin Netanyahu’s hardline government attempts to make good on its vow to “subdue” Palestinians “once and for all.”
FAT, DUMB, AND BROKE: HIGH-FAT DIET HINDERS BRAIN’S ABILITY TO COMMUNICATE WITH STOMACH
A newly released study suggests that consistently eating junk food has a deleterious effect on the brain’s ability to communicate with the stomach—which could lead to overeating.