Jobless claims remain low and unemployment is holding near 4.3 percent but companies aren’t hiring and layoffs tied to AI restructuring and cost cutting are increasing, according to U.S. News and World Report.
Tag: U.S. Economy
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ECONOMIC UPDATE
Again, as we have detailed and continue to detail by the pure facts and indisputable data, the illegal Iran War launched on 28 February by just two politicians – President Donald Trump and Israeli Prime Minister Benjamin Netanyahu – has inflicted severe socioeconomic and geopolitical damage across the globe.
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MARKET OVERVIEW
The three major U.S. stock indexes dove on Friday, with the Dow Jones Industrial Average down more than 500 points.
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WAR’S ENERGY SHOCK WORSENS THE U.S. ECONOMIC DIVIDE
Since 28 February when the Iran War began, Americans have spent $45 billion more on gasoline and diesel fuel than they would have if fuel prices had remained at pre-war levels, according to data from the U.S. government and the Oil Price Information Service.
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SPOTLIGHT: BIGS GETTING BIGGER
Germany’s E.ON SE, already one of the world’s largest electricity suppliers, is taking over Ovo Energy’s residential electric service in the U.K. to become Britain’s largest electricity company, serving 28 percent of households.
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MARKET OVERVIEW
The NASDAQ and Standard & Poor’s 500 index both closed last week at new record levels after also setting new intraday highs, with share prices rising on strong earnings, especially by tech companies, that reassured investors that the businesses could manage their massive AI expenses.
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SPECIAL REPORT: THE U.S. IS NOW AN AI ECONOMY
The U.S. economy grew by 2 percent in this year’s first quarter, missing economists’ expectations of a 2.2-percent bump in a Wall Street Journal survey.
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TOP TREND 2026: DOT-COM BUST 2.0
As we had forecast, one of our Top Trends for 2026 is Dot-Com Bust 2.0, and now that reality is finally hitting The Street. Indeed, as we go to press, this is a top headline article in CNBC: Bulls and bears both believe this could be 1999 all over again.
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GOING OUT OF BUSINESS TRENDS
The “going out of business” trend is spreading. What began as a retail-centric downturn has evolved into a broader contraction hitting restaurants, healthcare providers, manufacturers, and regional employers.
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MORTGAGE RATES ARE CREEPING HIGHER AGAIN
The U.S. average national interest rate on a 30-year, fixed-rate mortgage reached 6.37 percent during the week ending 8 May, rising from 6.30 percent the week before, according to the Federal Home Loan Mortgage Corp.