Dragflation: Economic growth declining and inflation rising... plus the pressure of interest rate hikes that are drying up the cheap money pool are causing companies in many sectors to lay off employees. Job cuts in September came in at 29,989, up 46.4 percent from a month earlier. Job cuts have jumped 66 percent year on year in September according to the Challenger report.
In August, the number of open jobs fell to just under 10.1 million, about 1.1 million fewer than in July but still leaving 1.7 jobs available per unemployed worker, CNBC noted.
The U.S. economy sprouted 263,000 new jobs in September, the U.S. labor department reported.
After each of the last 40 midterm elections, the Standard & Poor’s 500 has gained an average of 15 percent in the following 12 months on a sense of clarity about short-term tax, fiscal, and economic policy, The Wall Street Journal reported.
Around the world, central banks are raising interest rates at the fastest clip in at least 40 years, stressing some markets to the point of cracking, according to The Wall Street Journal. Corporate bonded debt is showing signs of distress, the WSJ noted, and which we reported in “OECD Warns About Corporate Debt” (25 Feb......
An epidemic of myopia, or nearsightedness, is occurring at younger ages. Too much screen time and not enough time outdoors have been pinpointed as the likely culprits.
During what normally is the busiest time of year, ocean cargo lines are canceling sailings due to lack of demand as retailers cancel orders or place no new ones.
The U.S. economy’s addition of 263,000 jobs in September shows the labor market is strong enough to withstand another three-quarter-point interest rate increase when the U.S. Federal Reserve meets in early November, The Wall Street Journal said.
Since July began, analysts at the largest U.S. banks have pared $34 billion off their expectations for third-quarter growth among American corporations listed on the Standard & Poor’s 500 index, FactSet reported.
Last week PayPal, an online service for making and receiving payments, announced that at PayPal’s “sole discretion” $2,500 would be seized from accounts of those PayPal decided were guilty of spreading misinformation.