Share to Twitter Share to Linkedin Key takeaways The U.S. unemployment rate went up in August for the first time since April 2020. The jump wasn’t nearly as large, though; the reasons for the jump are positive economic indicators. Unemployment numbers don’t account for people who aren’t looking or can’t look for jobs, like the two to four million people not working due to long COVID or women leaving the workforce for other responsibilities since the beginning of the pandemic. The U.S. is currently not in a recession, but we’re on shaky ground. There are reasons to be optimistic, but several factors demand attention, like job listings with inadequate pay and a marked slowdown in hiring. To determine if we are in a recession, economists generally look at three factors: economic output, consumer demand and unemployment. A decreased economic output is normally defined by two consecutive quarters of decreasing GDP. The U.S. met this bar with … [Read more...] about New Jobs Data Friday- How Is Employment Tied To A Recession (Does This Officially Tip Us In)?
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Share to Twitter Share to Linkedin As inflation remains ridiculously high, Atlanta Federal Reserve Chief Raphael Bostic remains economically optimistic. He said there is a “ really good chance ” the U.S. job market won’t take a severe hit as a result of the Fed's continued hawkish stance on raising rates. Out of the 12 Federal Regional banks, Bostic is the only Black person on the Federal Reserve’s policy setting committee, meaning there’s only one African American with a direct say on U.S. monetary policy. The Breakdown You Need To Know: CultureBanx noted how U.S. central bankers are still striving for a goal of 2% inflation, though the country is a far cry from that number with inflation currently hovering at 8.3% . Bostic had previously stated that past periods of ultra-low unemployment have been followed by recessions. However, he told CBS’s Face The Nation that “there is a really good chance that if we have job losses, it will be smaller than … [Read more...] about Atlanta’s Fed President Is High On Job Growth Amid Slow Economy
- A + A WASHINGTON (Oct 4): US job openings fell by the most in nearly 2-1/2 years in August, though staying at high levels as demand for labour remains fairly strong, which could keep the Federal Reserve on its aggressive monetary policy tightening path. Job openings, a measure of labour demand, dropped 1.1 million to 10.1 million on the last day of August, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. August's decline was the largest since April 2020, when the economy was reeling from the first wave of the Covid-19 pandemic. Data for July was revised lower to show 11.17 million job openings instead of 11.239 million as previously reported. Economists polled by Reuters had forecast 10.775 million vacancies. The Fed is trying to cool demand for labour and the overall economy to bring inflation down to its 2% target. The US central bank has since March hiked its policy rate from near zero to the … [Read more...] about US job openings post biggest drop in nearly 2-1/2 years in August
Banks’ provisional business updates for the July-September quarter suggest that loan and deposit growth continues to be robust. Banking analysts and industry experts said the trend is likely to continue even in the upcoming quarters, despite worsening global macro headwinds and the central bank’s tightening monetary policy regime. “Over the medium term, a well-capitalised balance sheet, improving loan growth and lower credit cost forecast are positive catalysts that should allow valuation multiples to improve as macro stability returns,” said Nilanjan Karfa, an analyst at brokerage house Nomura. In this context, three narratives—banks’ current account savings account (CASA)-dominant compounding franchises, earnings geared to growth, and lower credit cost—will likely play out, said Karfa. Also read: Bank lending rates set to rise further on expected RBI tightening, say experts Close Numbers game Banks’ July-September business updates paint a rosy … [Read more...] about Banks’ provisional July-September numbers indicate robust growth in loans, deposits
Share to Twitter Share to Linkedin One of the biggest and most unfortunate trends to emerge out of this summer’s travel rush has been lost luggage . You’ve probably seen the photos of halls full of suitcases at various airports around the world and read the horror stories of travelers using Apple AirTags to track their missing bags sometimes thousands of miles away. Because of this, I’ve only taken my Arlo Skye carry-on with me over the past few months of travel — even on longer, international trips when it meant wearing the same clothes over and over again. I was determined not to have to worry about checking a bag – a philosophy which served me well until it was time to pack for back-to-back trips from Egypt to Alaska. Now, that could have worked if both destinations had similar weather—but Egypt and Alaska? Uh, no. I refused to carry jackets and sweaters to Egypt, where it was going to be over 100 degrees, so I decided to look into luggage … [Read more...] about Forget About Checking That Bag Next Time You Fly
Share to Twitter Share to Linkedin Hiring the right candidate can be difficult, especially when you receive a large number of resumes from a pool of talented individuals. Often, businesses simply don't have the resources to spend a long period of time sifting through resumes to find the perfect one. Hiring teams need to develop certain systems or criteria for weeding out any candidates that wouldn't be the right fit and finding a select few ideal candidates for the position. To help you do this, 15 Forbes Business Council members offered some creative tips for finding the best resumes quickly from a large pool of applicants. 1. Bury Instructions In The Job Description One of the simpler ways to separate candidates when reviewing resumes is to bury an instruction further into your description. Most "spray and pray" candidates don't bother reading through online descriptions, they just hit "apply." Try adding a simple thing, such as, "In your cover … [Read more...] about Sifting Through Mountains Of Resumes? 15 Tips To Sort Them Quickly
Share to Twitter Share to Linkedin Amy Spieth is SVP of Marketing at Quiq , where she leads and oversees all marketing and PR functions. The economy is in uncertain times. Inflation and record gas prices of $5-plus in parts of the United States have led to talk of an imminent recession (paywall). Businesses are shoring up their resources and making moves. Even employees are getting anxious: According to research from Insight Global , 78% of workers are worried about losing their jobs in the next recession, and we’re seeing more articles about how small and medium-sized businesses can work to “recession-proof” their companies. While there is some positive recent news, the mood is still somber for many. Economic downturns are especially tough if you’re a business that relies on a contact center. As the senior vice president of marketing at a company that offers a conversational AI and messaging platform, I believe downturns could lead to … [Read more...] about How To Prepare Your Contact Center For An Economic Downturn
Share to Twitter Share to Linkedin After many years of stubbornly low inflation, we are now in an environment we haven't seen for 40 years. Prices are going up - fast. The Federal Reserve initially believed rising inflation would be transitory (i.e. fleeting) but has since changed their tune. Trying to get inflation to return to normal, the Fed has started raising interest rates . While the beginning of the end of easy money may help curb inflation on the margin, investors should prepare for inflation to linger. The Personal Consumption Expenditures (PCE) measures the change in the prices of goods and services consumed by all households and nonprofit institutions serving households. The Core PCE excludes food consumed in-home and energy prices. The CPI or Core CPI are the most common measures of inflation, but for several very good reasons, the Federal Reserve prefers to the Personal Consumption Expenditures (PCE) price index instead of CPI . For … [Read more...] about When Will Inflation Return To Normal? It Might Be A While.
Share to Twitter Share to Linkedin After botching the Covid-19 response, the U.S. hasn’t exactly done a great job containing the monkeypox outbreak. In fact, reviews of the U.S. monkeypox response published in The Washington Post , The Hill , The New York Times , and other places have ranged from bad to very bad. And the U.S. could end up paying for such public health missteps for years and years. That’s because the slow and disorganized monkeypox response may have allowed the monkeypox virus, which was practically non-existent in the U.S. prior to 2022, establish a new foothold in this country, as a new Centers for Disease Control and Prevention (CDC) technical report has indicated . Make that a brickhold, since the monkeypox virus doesn’t have feet. This brick or oval-shaped virus with large double-stranded DNA has already caused 26,049 and counting reported monkeypox cases in the U.S. so far this year, according to the CDC . This number was … [Read more...] about Slow U.S. Response May Mean Monkeypox Virus Here To Stay
Share to Twitter Share to Linkedin Prashant Nema is EVP and Chief Information Officer at Arch Capital Group Ltd . You've probably heard about the "Great Resignation," a term used to describe the rising number of workers seeking new job opportunities. The reasons vary, but one thing is certain: The pandemic was a trigger that prompted many employees to reevaluate their careers. Considerations such as work-life balance, new opportunities, health and safety have become non-negotiables—along with expectations for alternative or flexible work arrangements. This shift in the workforce mindset is causing setbacks in many companies. The market is tight, and competition has increased. The law of supply and demand is clearly at work, and employers are seeing the same dynamics regardless of geography. A hot topic in the tech world is this: What does it mean to attract and retain talent? Here are three things to consider when adapting your tech or IT … [Read more...] about Attracting And Retaining Tech Talent