U.S. employers added 128,000 jobs in October, and the nation’s unemployment rate ticked up to 3.6 percent, according to data released Friday by the Labor Department. Meanwhile, average hourly pay for workers rose 3 percent from a year earlier, to $28.18 from $27.35. Leaders & Laggards Below are the industries with the highest and … Read more The Jobs Numbers: Who’s Hiring in America—and Who’s Not
The U.S. economy added 128,000 jobs in October — more than the 75,000 economists expected — while the unemployment rate ticked higher to 3.6%, the government said on Friday. The strong numbers come despite job growth held down by the 40-day United Auto Workers strike against General Motors, which has since ended. The strike shaved … Read more October jobs report surprises with 128,000 jobs added
The U.S. national debt surpassed $23 trillion on Friday, per the Treasury Department and the Peterson Foundation. The national debt met the $22 trillion mark just nine months ago and has soared $3 trillion since Trump took office, when it rested at $19.95 trillion. The White House projected in July that the federal deficit would … Read more National debt surpasses record $23 trillion
Almost two in three finance officers in large cities are predicting a recession as soon as 2020, according to a new report from the National League of Cities, as weakening major economic indicators and shrinking revenue sources put pressure on municipal budgets. One of the first signs of changing economic conditions can be seen in … Read more Cities see signs of recession on the horizon
Plenty of Blame for What’s Coming President Donald Trump’s trade war gets well-earned blame for the global economy’s slowdown, which keeps deepening, according to new IMF forecasts. But his critics can’t be too smug, their poor leadership could make a global downturn even worse. Take Europe, for example. It still lacks a unified budget or … Read more The World Fiddles While the Economy Burns
If a new recession strikes, the Trump administration will get — and deserve — much of the blame. The world’s finance ministers and central-bank governors gathered this past weekend in Washington and looked out at a global economy badly in need of treatment. Most say they understand the dangers, but that seems open to question. … Read more The World Economy Is Stumbling Toward Disaster
Call it the Greta effect. Global finance titans gathered at the annual International Monetary Fund meetings in Washington this week identified climate change as a key risk to the long-term health of the world economy. It was one of the hot topics discussed, perhaps partly inspired by the teenage activist who has made saving the … Read more Which Is Scarier, Climate Change or CLOs?
The International Monetary Fund is now IMF World Economic Outlook – Oct 2019 global economic growth will slow to its weakest level since the 2008 financial crisis. A sharper-than-expected slowdown in international trade has affected manufacturing and investments, according to the organization’s World Economic Outlook. IMF chief economist Gita Gopinath said the organization estimates that … Read more IMF predicts slowest global economic growth since 2008 financial crisis