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
Share to Twitter Share to Linkedin “In times like these, times of hardship and uncertainty, it can feel like the world is conspiring to shrink our sense of possibility. To sour us to the daring adventure of life. I'm here to say, don't let it.” Those are the words of Laurene Powell Jobs – entrepreneur, philanthropist and the widow of Apple founder Steve Jobs – as she addressed her alma mater, the University of Pennsylvania, at the graduation of their class of 2021. It’s good advice for each of us, no matter our age, lifestage or career, especially in today’s world of both massive crisis and tremendous opportunity. Giving a commencement address is always tricky, and after a year like 2020, it’s only harder. The student audience is anxious to get it over with and go celebrate, especially when they probably weren’t sure they would be able to celebrate with their friends and loved ones because of covid. At this point, having to listen to a commencement … [Read more...] about We Need To ‘Tear Down Walls…Within And Without’ Laurene Powell Jobs Told U Penn’s Class Of 2021
(CTN News) – A record number of cases of Bird flu have been reported in the UK and Europe this summer, with 47.7m birds culled since last autumn. Since last year, poultry producers from Norway’s Svalbard islands to southern Portugal have reported almost 2,500 outbreaks. According to the latest update from the European Centre for Disease Prevention and Control, European Food Safety Authority, and the EU reference laboratory, thousands of outbreaks have been reported in wild birds. Breeding colonies of sea birds on the north Atlantic coast were devastated by the virus. With warmer weather and the end of wild bird migration, Bird flu outbreaks have declined in recent years. However, outbreaks have continued across the UK and elsewhere in Europe this summer, causing fears that highly pathogenic Bird flu variants will now endemic in wild birds. Domesticated bird Flu outbreaks were five times higher from June to September than last year. Experts say that the Bird Flu … [Read more...] about ‘Unprecedented’ Number Of Bird Flu Cases in Europe and UK this Summer
- 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
Share to Twitter Share to Linkedin By Franklin Amoo and Rahul Kumbhani Insufficient infrastructure investment has always stymied development in Africa. Most of the continent has historically lagged the rest of the world in coverage of key infrastructure classes, including energy, transport, water, healthcare and telecoms. Closing this gap is crucial for the economic growth and development of the continent and the quality of life of Africans. The recent emergence of a digital future has presented a new challenge for the continent - just as power, water and transportation infrastructure enable us to go about our everyday lives, digital connectivity has become another core aspect of our society. Yet Africa has the lowest penetration of internet connections globally, at just 22% compared to 80% in Europe. Upon the vanguard of the ‘Digital Revolution’, Africa, home to the majority of the ‘last billion’ to be connected, is fighting to not be left behind. For … [Read more...] about The Appetite For African Data Centers: Can Investment Keep Up?
Credit Suisse Credit Suisse Group AG’s new chief has asked investors for less than 100 days to deliver a new turnaround strategy. Turbulent markets are making that feel like a long time. The cost of insuring the firm’s bonds against default climbed about 15% last week to levels not seen since 2009 as the shares touched a new record low. On Friday, Chief Executive Officer Ulrich Koerner reassured staff that the bank has a “strong capital base and liquidity position” and told employees that he will be sending them a regular update until the firm announces a new strategic plan on Oct. 27. Koerner, who was named CEO in late July, has had to deal with market speculation, banker exits and capital doubts as he seeks to set a path forward for the troubled Swiss bank. The lender is currently finalizing plans that will likely see sweeping changes to its investment bank and may include cutting thousands of jobs over a number of years, Bloomberg has reported. Koerner’s memo was … [Read more...] about Credit Suisse CEO Ulrich Koerner seeks to calm markets as default swaps climb
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.
Representative Image Eleven states and Union Territories, including Goa and Jammu and Kashmir, have no functional eye banks, according to official data. Doctors, however, underlined that such banks alone don't serve the purpose as there is an increased demand for eye donors especially in view of the COVID-19 pandemic which exacerbated the situation. According to the response to an RTI application filed by Madhya Pradesh-based activist Chandra Shekhar Gaur, there are a total of 320 functional eye banks in the country. Eleven states and Union Territories -- Andaman and Nicobar Islands, Arunachal Pradesh, Dadra and Nagar Haveli, Daman and Diu, Goa, Jammu and Kashmir, Lakshadweep, Manipur, Meghalaya, Nagaland and Sikkim -- have no functional eye banks, it said. Dr Manisha Acharya, the medical director of eye bank at Dr Shroff's Charity Eye Hospital, said there are a total of 750 eye banks in India, but only some of them are fully functional, well-equipped, and responsible … [Read more...] about 11 states/Union Territories have no functional eye banks: RTI reply