The 108,435 workers to be laid off in January was the most in any January since 2009 at the depth of the Great Recession, outplacement firm Challenger, Gray & Christmas reported.
Tag: U.S. Economy
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U.S. CONSUMERS’ OUTLOOK SHINES A BIT BRIGHTER
Despite lingering concerns regarding inflation, tariffs, and the job market, U.S. consumer sentiment in the aggregate rose in February to its highest since last August.
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BITCOIN RATTLED AMID TECH-STOCK SELLOFF
Bitcoin, the world’s most popular cryptocurrency, came out limping after last week’s tech selloff, falling below $67,000, as industry insiders acknowledge that “sentiment has deteriorated sharply.”
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LAST WEEK: A STUMBLE, THEN A BOUNCE TO A NEW RECORD
Stock prices sank on Tuesday, Wednesday, and Thursday last week as investors showed new concerns about whether massive investments in artificial intelligence (AI) will ever return a profit.
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ECONOMIC UPDATE – MARKET OVERVIEW
As we have long forecast, the 20th Century was the century of the United States but the 21st Century will be the Chinese century.
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DECLINING DOLLAR ROILS WORLD MARKETS
The dollar’s slide to its lowest in more than three years has revived “fears about the U.S.’s pre-eminent position in global markets, spurred conflicting statements from the White House, and shifted the math behind everything from international travel to U.S. corporate profits to European furniture exports,” The Wall Street Journal reported.
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GM FORECASTS $2-BILLION JUMP IN PROFITS THIS YEAR
Thanks to the popularity of its high-profit pickup trucks and full-size SUVs, General Motors projects its 2026 profit will rise as much as $2 billion, year on year.
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CITI WILL TRAIN 175,000 WORKERS TO ‘REINVENT THEMSELVES’ WITH AI
Citi, a $205-billion U.S. megabank, will require 175,000 workers to learn to use artificial intelligence (AI), CEO Jane Fraser said in an interview with Fortune magazine.
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U.S APARTMENT RENTS FELL TO FOUR-YEAR LOW IN JANUARY
Last month, the median monthly rent for a U.S. apartment was $1,353, down 1.4 percent year on year, Apartment List reported, and lower by 6.2 percent since they peaked in summer 2022.
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U.S TRADE DEFICIT ALMOST DOUBLES IN NOVEMBER
The U.S.’s red ink in trade grew to $56.8 billion in November, up 94.6 percent from October when the gap shrank to its smallest since 2009, the U.S. census bureau reported.