How corruption affects economy

Share to Twitter Share to Linkedin The Labor Department’s January employment report was extremely strong by absolutely any standard. Don’t be distracted by the argument that “seasonal adjustments are misleading.” It’s true that several monthly jobs reports have been suspect over the past couple of years because COVID-related disruptions in normal hiring cycles affected the normally benign seasonal adjustment process. Those problems, though, happened near the beginning or end of the academic year and showed up almost entirely in school employment numbers. In contrast, January’s strong jobs growth was very much a “what-you-see-is-what-you-get” report. Here are four key takeaways: First , there are 517,000 more jobs than in December, and almost 5 million more jobs than a year ago. Almost 25 million more jobs than in the worst of the COVID shutdown and 2.7 million more jobs than before the pandemic started. Second , the U.S. is in its fourth … [Read more...] about January’s Job Report Allays Big Concerns About The Economy’s Future

Share to Twitter Share to Linkedin The mass tech layoff impacted women across the board and turned the tables in the tech industry. Perseverance and practical advice from experts are needed more than ever, especially for the BIPOC woman in tech. According to Crunchbase , over 58,000 U.S. tech workers have been laid off due to budget and job cuts in 2023. Sadly this is just the beginning, and more layoffs will take place throughout the year. In January, data from layoffs.fyi , shows another wave of layoffs took place with private and public startups across the U.S. workforce. Some notable companies are: Coinbase 2,110 layoff's Amazon 18,000 layoff's Salesforce 9090 layoff's (Google) Alphabet 12000 layoff's SAP 3000 layoff's IBM 3900 layoff's The economy has made a drastic shift to deal with the reality of the tech fast growth mentality and hiring quickly and recklessly. According to Crunchbase , in 2022, when the … [Read more...] about 8 Tips For Black Women Navigating Tech Layoffs

Share to Twitter Share to Linkedin Topline Identity management company Okta announced plans on Thursday to lay off roughly 300 employees, one day after FedEx, DraftKings, cloud data company NetApp and automaker Rivian all announced major rounds of layoffs—the latest U.S. companies to implement job cuts as recession fears continue into 2023. Timeline February 2 Okta CEO Todd McKinnon unveiled plans to reduce the tech company’s workforce by 5% (roughly 300 positions) in a Securities and Exchange Commission filing on Thursday, citing a period of over-hiring over the past several years that did not account for the “macroeconomic reality we’re in today.” February 1 NetApp , a San Jose, California-based cloud data company, announced plans in an SEC filing to lay off 8% of its staff ( estimated to affect 960 employees) by the end of the fourth fiscal quarter of 2023 “in light of the macroeconomic challenges and reduced spending environment.” … [Read more...] about 2023 Layoffs: Okta Slashes 300 Jobs As DraftKings, FedEx Cut Staff

Share to Twitter Share to Linkedin Topline More than 81,000 employees lost their jobs in major U.S. layoffs in January alone—the most in any one month since Forbes started tracking layoffs last summer—including major cuts at Amazon, Google, Salesforce and Microsoft, as fears of an economic downturn that prompted more than 120 U.S. companies to implement major layoffs last year persist into 2023. Key Facts The biggest round of job cuts in January came from Amazon, which added to its November layoffs to slash more than 18,000 employees , with CEO Andy Jassy saying the company faces an “uncertain economy” after rapid growth during the Covid-19 pandemic. Alphabet, the parent company of Google, announced on January 20 that it would slash 12,000 worldwide jobs in a restructuring plan, following Microsoft’s decision to cut 10,000 employees amid “times of significant change” as customers “do more with less.” In the past week alone, San … [Read more...] about More Than 81,000 Employees Laid Off In Major U.S. Layoffs In January

Share to Twitter Share to Linkedin Since 2017, the world has seen 135 significant protests against the political and economic policies of host governments. A review of news articles during this six-year period reveals myriad headlines imploring investors to “run for the hills.” Using the buzz words of “political instability” and “volatile emerging markets”, on-air pundits often urge investors to sell off their investments that are most affected by the civil unrest. Chaos in the streets today means currency devaluation and capital flight tomorrow. Before investors make any rash decisions, there are a few questions they should ask themselves and/or their advisers. The following uses the recent unrest in Peru as an example. Nearly two months ago, protests broke out in Peru, following what many qualified as a coup attempt and subsequent ouster of a democratically elected President, (US News and World Report) and now investors are considering their options in the … [Read more...] about Emerging Market Risk Analysis Must Focus On Resilience (Not Just Disruption)

The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation is expected to continue to worsen. China announcing on August 23 a set of retaliatory tariffs of between 5-10% on $75 billion worth of US goods. US President Donald Trump responded by raising existing tariffs on $300 billion worth of Chinese goods by 15%, effective December 15. Read The Thaiger story HERE . Markets reacted badly last Friday afternoon and then again on Monday morning when markets opened across Asia. Related news Thai celebrities duped out of 20 million baht in online toy scam, 300 victims speak out 17 hours ago Thai passport worth less than Cambodian | Thailand … [Read more...] about Baht to climb higher against USD, more pressure on exports

Share to Twitter Share to Linkedin Children worldwide share stories of perseverance and hope as they call on leaders to make good on the promise of education for all. By Kent Page Children worldwide are being denied their basic human right to an education. Conflict, climate change, displacement and other crises are pushing them to the edge. To highlight the amazing stories of perseverance and hope emerging on the front lines, Education Cannot Wait (ECW) — the UN’s global fund for education in emergencies that is hosted by UNICEF — asked crisis-affected girls and boys worldwide what education means to them. These ‘ Postcards from the Edge ’ offer us a living testament to the remarkable power of education to transform lives. There are stories of burnt villages and violent attacks, stories of droughts and hunger, and stories of courage and hope in the face of adversity. Since sending out the call to its partners, ECW has received dozens of … [Read more...] about Postcards From The Edge

Share to Twitter Share to Linkedin Nagaraju Bandaru is CTO for Mosaic , a leading financing platform for U.S. residential solar and energy-efficient home improvements. With the passing of the Inflation Reduction Act (IRA), the U.S. government is expecting a boom in clean energy jobs . And according to a recent survey conducted by Mosaic, 75% of American adults said they would consider a job in clean energy. While it’s true that sustainable infrastructure initiatives like the IRA are contributing to the growth of this industry, since becoming the CTO of clean energy fintech, I have experienced a much deeper appeal that clean tech jobs hold. This new perspective has changed the way I think about work, so I wanted to share the top five things I have learned since moving into clean tech. 1. Work With Joy According to the old cliche, if you do what you love, you’ll never work a day in your life. But I would take that a step further and … [Read more...] about Five Things I’ve Learned As A CTO Of A Clean Tech Company

Share to Twitter Share to Linkedin Roughly 11 months ago marked the launch point for the Federal Reserve’s tightening cycle, adding over four full percentage points to its target for the Federal Funds rate since March 2022 to a current upper bound of 4.75%. Notably, the level is the highest for the benchmark since September 2007, with the pace of Fed tightening virtually unprecedented. No doubt, many think the Federal Reserve hiking the Fed Funds rate should be a big headwind for equities, but seven decades of returns data show that stocks in general have performed admirably on average, both concurrent with and subsequent to increases (as well as decreases) in the Fed Funds rate. This is the case over 3-, 6-, and 12-month time spans, with Value Stocks leading the charge no matter the direction. Anticipation of significantly tighter monetary policy spurred higher rates across the various maturities of the yield curve. Of course, moves back into … [Read more...] about 2023 Value Stock Picks: Fed Punching A Hole In The Punch Bowl