OpenAI, the private company that developed ChatGPT, an artificial intelligence that converses in natural language, is seeking to raise capital in deals that would value the company at $30 billion, the Financial Times reported.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jan 10 2023
COMPANIES LEASING LESS WAREHOUSE SPACE
U.S. companies leased 132 million square feet of warehouse space in 2022’s final quarter, 28.2 percent less than in the third quarter, real estate services firm Cushman & Wakefield reported.
U.S. AUTO SALES WENT INTO THE DITCH IN 2022
Last year, the U.S. auto industry sold 13.7 million vehicles, 8 percent fewer than in 2021 and the fewest since 2011 during the Great Recession, data firm Wards Intelligence shows.
IRS: HIT THE PLANTATION WORKERS OF SLAVELANDIA, DON’T TOUCH THE RICH
In 2022, the U.S. Internal Revenue Service focused its audits on low-income individuals, according to IRS data analyzed by Syracuse University’s Transactional Access Records Clearinghouse (TRAC).
HOME PRICE RATE OF INCREASE CONTINUES TO SLOW
For the first time since November 2020, the rate of growth in home prices fell into single digits in October, slowing to 9.2 percent from a 10.7-percent pace in September, according to the S&P CoreLogic Case Shiller U.S. home price index.
U.S. ADDS 223,000 JOBS IN DECEMBER, MOST ARE PART-TIME
The U.S. economy filled 233,000 more jobs last month, dropping the unemployment rate from 3.6 percent to a 53-year low of 3.5 percent.
INFLATION HITTING MIDDLE CLASS HARDEST
The U.S. middle class lost 2.9 percent of its purchasing power in 2021, while lower-income households saw theirs rise 1.5 percent, according to a study by the Congressional Budget Office (CBO).
ECONOMIC UPDATE — MARKET OVERVIEW
What wonderful news for the billionaires who own The Street. Equities spiked last Friday on the wonderful news that the job numbers are weakening and wages for the plantation workers of Slavlandia are declining.
RECESSION COMING: TRADE DEFICIT SHRINKS, GLOBAL TRADE SLOWS
U.S. traded less with other nations in November, lopping 21 percent off the U.S. trade deficit as the threat of recession cooled global commerce.