Initial unemployment claims, a proxy for layoffs, rose by 16,000 to a seasonally adjusted 351,000 last week from a revised 335,000 the prior week, as demand for workers keeps a lid on layoffs.
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The first-ever state-level Job Openings and Labor Turnover report offers a glimpse at where labor shortages are the most and least prevalent.
- Washington Post
Kentucky, Idaho, South Dakota and Iowa reported the highest increases in the rates of workers who quit their jobs in August, according to a new glimpse of quit rates in the labor market released Friday. The largest increase in the number of quitters happened in Georgia, with 35,000 more people leaving their jobs. Overall, the states with the highest rates of workers quitting their jobs were Georgia, Kentucky and Idaho.Subscribe to The Post Most newsletter for the most important and interesting s
- Miami Herald
Thousands of Floridians were notified they owed money to the state for overpayment of unemployment benefits received during the first 18 months of the COVID pandemic. Gov. Ron DeSantis has rightly halted the effort.
The U.S. economy hasn't exactly fallen into a rut, but the U.S. just suffered its biggest hiccup since the coronavirus pandemic erupted in early 2020.
The messy inflation scenario isn't anything like the stagflation of the 1970s, writes Gregory Daco of Oxford Economics.
- LA Times
Prices are so high — and consumers are so perplexed — that a Google search of "Why are gas prices going up?" has spiked this month.
- Yahoo Finance
One of Joe Biden’s oft-repeated promises from the 2020 campaign trail and his first year in office is that he'll raise the corporate tax rate. Now, the idea appears likely to fall out of the economic package entirely.
Congress should prioritize kids and seniors and stopping climate change over trillions wasted in endless failed wars
- Washington Examiner
The White House disagrees with the criticism that price inflation has the same effect as a tax, given President Joe Biden's campaign promise not to hike levies on people earning less than $400,000 a year.
- The Telegraph
Nicola Sturgeon’s case for independence has been dealt a blow after Scottish businesses increased their reliance on trade with the rest of the UK.
- Washington Examiner
Democrats may end up nixing a plan to hike taxes in order to pay for a massive social welfare spending package.
Turkey's currency on Thursday plumbed record lows as Ankara reeled from the twin blows of being placed on a terrorism financing and anti-money laundering watch list and an interest rate cut that economists fear could spark hyperinflation.
(Bloomberg) -- Argentine investors are growing increasingly pessimistic on the peso, betting it’s inevitable the government will be forced to speed up devaluation after November elections.Most Read from BloombergThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeForget Palm Springs—Santa Fe Is the New Mecca for Modern ArchitectureGoogle’s Biggest Moonshot Is Its Search for a Carbon-Free FutureA $30 Billion Fortune Is Hiding in China’s Silicon ValleyBeef Industry Tries to Erase Its
- Associated Press
Federal Reserve Chair Jerome Powell said Friday that the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely keep inflation elevated well into next year. The Fed is not yet prepared to lift its benchmark interest rate, he said, though he suggested that the economy may be ready for a rate hike next year. There is now greater risk of "longer and more persistent bottlenecks and thus to higher inflation,” Powell said at a virtual conference hosted by the South African Reserve Bank.
- ABC News
In the wake of a controversial proposal by the Treasury Department and Senate Democrats to direct collection of additional data on Americans' bank accounts, Senate Republicans -- led by South Carolina’s Tim Scott -- introduced a bill Thursday to prevent the Internal Revenue Service from implementing any such policy change. "The Democrats’ plan to allow the IRS to spy on the bank accounts of nearly every person in this country, even those below the poverty line, should be deeply concerning to anyone who values privacy and economic inclusion," Scott said in a statement provided exclusively to ABC News.
- Kansas City Star
The $272 million request is a 6% increase and calls for money to pay for new police academy classes.
A string of Beijing officials have tried to reassure investors the crisis will not spiral out of control and that creditors' interests will be protected, but its long-term impact on China's property sector and economy is highly uncertain. The sector is the largest contributor to China's gross domestic product (GDP), accounting for more than a quarter when related industries are included, economists say. A vast ecosystem of suppliers and service providers has flourished around giant property developers and real estate has played a crucial role in creating jobs and generating cash for local governments.
BRASILIA (Reuters) -Four senior Brazilian Treasury officials resigned on Thursday amid signs the government is looking to lift a constitutional spending cap, hammering Brazil's stocks and currency while driving up interest rate futures. With Bolsonaro's popularity slipping and headlines focused on a Senate inquiry calling for criminal charges based on his handling of the pandemic, the president has pushed for more government spending ahead of next year's election. Economy Minister Paulo Guedes said late on Wednesday that the government may try to exempt 30 billion reais ($5.3 billion) of spending from its fiscal ceiling in order to boost welfare spending at President Jair Bolsonaro's request.
- Motley Fool
If you're worried about the financial impact of the delta variant, here are some key moves to make immediately. The more money you have in your savings account, the more protection you have if you lose your job or experience another financial blow in the coming months. It's especially important to boost your emergency fund if you work in an industry that could be hit hard by COVID-related shutdowns.
The number of Americans who recently lost jobs and applied for unemployment benefits fell again in mid-October to a new pandemic low, as companies shied away from layoffs amid the biggest labor shortage in decades.