In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
Category: 17 October 2023
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
As we have continued to note with facts and figures, the three-year COVID War destroyed much of the world economy.
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HOLIDAY HIRING REMAINS WEAK, SIGNALING GLUM SEASON FOR RETAILERS
Dick’s Sporting Goods and Macy’s are two of many major retailers hiring fewer seasonal workers this year, indicating a gloomy outlook for what traditionally is retailers’ make-or-break selling period.
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WHITE-COLLAR WORKERS STILL STRUGGLING AMID U.S. JOBS BOOM
Although the U.S. economy added a startling 336,000 jobs last month, most of the gains were in just three sectors: government, health care, and leisure and hospitality, according to labor department figures.
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BIG BANKRUPTCIES SHOCK THE ECONOMY
Corporate bankruptcies are increasing, as we noted in “Corporate Bankruptcies Could Reach 13-Year High” (26 Sep 2023). Even more worrying, a larger number of very big businesses are going bust.
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MORTGAGE RATES RISE TO 23-YEAR HIGH
Last week, the mortgage interest rate for a 30-year, fixed-rate mortgage averaged 7.57 percent, according to the Federal Home Loan Mortgage Corp. (Freddie Mac), up from 7.49 percent the week before.
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TROUBLE AHEAD? U.S. CONSUMERS CUT BACK ON CREDIT CARD SPENDING
Consumers charged 11 percent less to their credit cards in September than they did in August, marking the fourth consecutive month of declining charges and the largest monthly drop this year, Citi reported.
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INFLATION LARGELY UNCHANGED IN SEPTEMBER
Consumer prices grew by 0.4 percent in September from August and 3.7 percent on the year, the U.S. Labor Department reported. Dow Jones had estimated 0.3 and 3.6 percent, respectively.
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FOX NEWS HOST SUGGESTS THAT ISRAEL MAY GO NUCLEAR IF IT FACES MULTI-FRONT WAR
Mark Levin, the Fox News host, said Israel may consider going nuclear during an interview on the cable channel saying that Israel could go nuclear if it finds itself on the losing end of a multi-front war with Hamas, Hezbollah, and Iran.
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CONSUMER SENTIMENT FLOPS IN OCTOBER
Consumers’ pessimism about the economy has grown significantly this month, according to the University of Michigan’s monthly survey of consumer sentiment.