The November jobs report challenges the narrative of an economic slowdown, indicating an economic acceleration and potential upward pressure on Treasury yields, according to Commonwealth Financial Network CIO Brad McMillan.
The New York Times's economics team is seeking reader input on the financial challenges and observations individuals are facing in their communities to better understand the economic impact on Americans' daily lives.
Dollar General is removing self-checkout stations and shifting to a secondary checkout vehicle, as the company realizes the value of having staff at the front end of its stores to improve sales and monitor shrink.
EU countries are considering plans to ban Russian energy companies from their pipelines and terminals, which would allow them to halt their last remaining Russian gas imports; if approved, this legislation would help the EU reduce its reliance on Russian gas and diversify its energy sources.
President Biden's reelection campaign claims that he has created more jobs in less than three years than any other president, criticizing former President Trump for leaving behind an economic disaster.
Despite widespread pessimism about the economy, economic indicators suggest that things are going well, leading to a phenomenon termed "vibecession" and a misperception of the past.
California lawmakers will have to address a $68 billion budget deficit caused by a tax revenue shortfall, prompting discussions of declaring a fiscal emergency and making budget adjustments to close the gap. Prioritizing the preservation of social safety net programs and making tough choices about spending will be necessary in addressing the deficit.
The number of new jobs created in November increased by 199,000, wages rose sharply, and the unemployment rate fell to a four-month low of 3.7%, but there are signs of softening in the labor market due to high interest rates affecting the U.S. economy.
Mortgage rates could fall below 4% next year, providing relief for families facing rising living costs, as lenders may cut rates to stimulate the property market, driven by falling lending costs and the Bank of England potentially maintaining or reducing the base rate of interest. The lowering of mortgage rates would be a political boost for Prime Minister Rishi Sunak, who faces pressure over the cost of living. The mortgage market is expected to improve further if swap rates continue to fall.
Independent presidential candidate Robert F. Kennedy Jr. highlights the economic reality that many young adults face today, as college debt and insufficient job opportunities hinder their ability to buy a home and achieve financial stability. The burden of student loan debt, which amounts to over $1.7 trillion collectively, not only affects personal financial growth but also has broader economic implications such as hampering the ability to make major purchases like homes.
The November jobs report shows a decrease in the unemployment rate, an increase in earnings, and a rise in payrolls by 199,000.
Over half of Americans are cutting back on holiday shopping this year due to high prices and inflation, with lower-income individuals being the most affected, according to a Monmouth University Poll.
China announces plans to strengthen fiscal policy in 2024 to revive its struggling economy, following a downgrade in its credit rating by Moody's due to lower medium-term economic growth and ongoing troubles in the property sector.
Some of the world's largest companies have been profiteering and forcing prices up significantly higher than costs during a period of high inflation in 2022, according to a joint study by think tanks IPPR and Common Wealth, with company profits increasing at a much faster rate than costs in a process called "greedflation."
The U.S. labor market is experiencing a slowdown in hiring as employers tighten their belts, with only a few industries, particularly healthcare, driving job growth and preventing a recession; economists predict an increase of 190,000 new jobs in November's jobs report.
Some of the world's largest companies profited significantly from price markups in 2022, contributing to high inflation rates, according to a joint study by IPPR and Common Wealth, with energy companies and food producers being the major contributors. However, inflation is now beginning to regulate, and some companies are reducing prices to alleviate the burden on consumers.
China's decision to stop publishing youth unemployment data has left the state of the country's labor market for young people a matter of guesswork and anecdote, and has allowed the government to avoid the embarrassment of high unemployment figures.
The European Union is set to grant its member states the ability to halt gas imports from Russia and Belarus by allowing them to block companies from these countries from accessing their gas pipelines and LNG terminals.
Mortgage rates are expected to drop below 4% next week as swap rates reach their lowest levels since May, leading major banks such as Nationwide, Santander, and Halifax to cut fixed rates in what is being called the "next chapter of the mortgage rate war."
Russia's success in evading Western oil price caps has contributed to a recovery in economic growth, leading to President Putin's decision to run for re-election, despite the challenges of labour shortages, inflation, and high interest rates.
Japan's economy contracted at the sharpest rate since the height of the pandemic, posing challenges for the Bank of Japan and increasing speculation about the scrapping of negative interest rates.
Japan's economy contracted at an annualized rate of 2.9% in the third quarter, worse than the initial estimate of a 2.1% contraction, with both consumer and business spending declining, raising concerns for the central bank's monetary policy. Real wages dropped by 2.3% and household spending fell by 2.5% in October, indicating a continuation of weak consumption.
China's massive debt burden and reliance on debt-financed stimulus programs have led to an impending debt crisis, which, combined with structural issues like an aging population and slowing workforce growth, threatens its economic growth and stability. The country must transition to a more balanced economy by boosting domestic consumption and reducing savings, but political challenges and concerns about international competitiveness pose obstacles to this transition.
Demand for permanent hiring in the UK has dropped at the second fastest rate since the pandemic began, highlighting the economic uncertainty and hesitancy among businesses, according to Britain's largest recruiters who have warned the Bank of England; meanwhile, the availability of new job candidates has increased, but permanent staff appointments have declined, indicating a challenging job market.
Deflation is impacting used cars and durable goods like furniture and appliances, potentially pushing the overall U.S. inflation rate closer to the target of 2% set by the Federal Reserve. While this is seen as a positive sign, widespread deflation could have negative implications for the economy.
U.S. consumers added $2.9 billion to their credit card debt in October, reaching a record high of $1.3 trillion, as inflation and high interest rates have forced households to rely more on credit cards; however, a growing number of younger borrowers are struggling to repay their debts.
Venezuela and Guyana are locked in a dispute over oil reserves in Guyana, with Venezuela attempting to seize territory that holds a significant portion of Guyana's offshore oil. This conflict could impact global oil prices and has drawn the attention of the Biden administration, which is seeking to secure new sources of oil to support economic stability.
Chinese leaders are expected to discuss economic goals for 2024 at the central economic work conference, with a focus on external uncertainties such as potential US interest rate cuts and the impact of the American presidential race on China's economy. There are hopes that rate cuts by the US Federal Reserve could benefit China's economy in the short term and allow for greater maneuvering in its monetary policy, but concerns also exist about how Washington's actions could disrupt China's economy. The outcome of the US-China relationship in an election year and the impact on trade and investments will be key factors affecting China's economic outlook. Reform and broadening market access are seen as important for China to navigate these challenges.
Wall Street is pulling out billions of dollars from China's financial system due to its struggling economy, real estate crisis, and troubling economic data, as foreign investment leaves the country for the first time since the 1990s.
Startups are facing a funding crisis with a shortage of funds for early-stage companies and a lack of exit opportunities for late-stage companies, leading to a significant decline in venture capital funding and a high number of closures.
Consumer credit growth slowed in October, with revolving credit (credit cards) increasing at a rate of 2.7% and nonrevolving credit (auto and student loans) rising at a rate of 0.7%, as tighter standards and higher rates dampened credit growth.
Mortgage rates have fallen for the sixth consecutive week, reaching 7.03%, the lowest rate since August, which could bring more buyers back into the housing market. Forecasters expect rates to continue to decline in the coming year.
Former economic aide for Barack Obama, Steven Rattner, acknowledges that Joe Biden may not be able to alleviate negative sentiments among American voters regarding the country's direction and the handling of the economy, mainly due to concerns about inflation and broader economic prospects, particularly among young Americans. Rattner suggests that shifting the focus of the 2024 campaign towards Biden's opponent may be a favorable strategy for the president.
Opening a CD this December can allow savers to lock in high rates and earn substantial returns, as rates may drop in 2024 and the alternatives, such as high-yield savings accounts, are not as beneficial.
A land dispute between Venezuela and Guyana over an oil-rich region has the potential to affect the oil market, but current crude oil prices remain near six-month lows.
Robert Kiyosaki, author of "Rich Dad Poor Dad," warns that America's massive debt will lead to inflation and a collapse of the US dollar, predicting a severe recession and market crash. He advises investors to buy gold, silver, and Bitcoin for protection.
Market-implied expectations for inflation over the next 10 years are slipping closer to 2%, indicating renewed confidence in the Federal Reserve's ability to control price gains in the long run.
Barchart.com offers investment tools and research to help traders become more confident and profitable, with options for stock market analysis, ETFs, futures, and more.
Daily Kos is taking action to support the Black community and promoting ways for people to get involved in the upcoming elections.
A majority of Americans are cutting back on holiday shopping due to inflation and high prices, with 55% of respondents saying they are reducing their holiday shopping lists, according to a poll from Monmouth University.
Mortgage rates in the U.S. continued to decline for the sixth consecutive week, reaching an average of just over 7%, providing some relief for homebuyers but still facing challenges due to low inventory and affordability issues.
Credible Operations provides tools and information to help improve finances, including current mortgage rates and tips for comparing lenders and loan offers.
Discount retailer Dollar General warns of constrained customer spending, particularly in categories such as clothing and home goods, heading into the new year despite beating analysts' estimates for the third quarter.
The vast majority of Americans have depleted their excess savings from the COVID-19 pandemic, and JPMorgan predicts that by mid-2024, almost everyone will be worse off financially than they were pre-pandemic, except for the top 1% of consumers.
Tampa Bay's GDP grew by 4.9% in 2022, although slower than the previous year, it still outpaced the years before the pandemic, with Hillsborough County experiencing the highest growth and Pasco County the weakest; overall, Tampa Bay and Florida continue to surpass the national GDP growth rate.
The International Monetary Fund (IMF) provides loans to African countries in economic crises, but these loans can have both positive and negative effects, including increased foreign direct investment and social unrest, and here are the top 10 African countries with the highest debts to the IMF.
Traders are increasingly betting that the Bank of Japan will end its negative interest-rate policy, following remarks from central bank officials indicating a potential shift in policy.
The article discusses the 25 states in the US with the highest inflation rates, providing information on each state and their respective inflation costs since January 2021.
The economic growth trends between the US and China have diverged in 2023, with China experiencing challenges in its real estate market and reopening from the pandemic, while the US achieved its highest GDP growth since 2021.
Concerns about the health of residential and commercial construction companies are deepening in the Federal Reserve Bank of Minneapolis' six-state region, while industrial and infrastructure builders remain more optimistic, according to a survey by the Fed. Overall, the construction industry is seeing some improvements as labor availability increases, supply chain issues ease, and price inflation moderates.