Recent government data on the labor market is providing fresh insight into the so-called Great Resignation, with the figures showing that workers in sectors with a lot of face-to-face interaction with other people, such as in accommodation and food services, were quitting their jobs in September at record or near-record numbers and at over twice…
Leisure and Hospitality Workers Quitting at Twice National Rate
Recent government data on the labor market provided fresh insight into the so-called “Great Resignation,” with the figures showing that workers in sectors with a lot of face-to-face interaction with other people, like in accommodation and food services, were quitting their jobs in September at record or near-record numbers and at over twice the national…
America Facing ‘Potentially Fatal Overdose of Government’: Rep. Davidson
As House Democrats continue trying to muster enough votes to pass President Joe Biden’s “Build Back Better” agenda, Rep. Warren Davidson (R-Ohio), a member of the House Financial Services Committee, said that the massive social spending bill—along with other Democrat-led policies—represent a “potentially fatal overdose of government” that could stifle free enterprise and push inflation higher….
S&P Global, IHS Win US Antitrust Approval for $44 Billion Deal With Conditions
WASHINGTON—Business information provider S&P Global Inc. and IHS Markit Ltd have won U.S. antitrust approval for their planned merger, on condition it sells some businesses and scraps a non-compete agreement with GasBuddy, the Justice Department said in a statement. The $44 billion deal was initially announced in November 2020. To win approval for the deal,…
US Will Open Talks With Japan on Import Steel, Aluminum Tariffs
WASHINGTON—The United States said on Friday it will open talks with Japan that could lead to an easing of tariffs on steel and aluminum imports, a longstanding irritant in trade relations between the two allies. The U.S. Commerce Department and the United States Trade Representative’s Office said the talks were aimed at addressing “global steel…
Labor Force Participation ‘Quite Depressed’ Versus Pre-Pandemic Levels, Yellen Says
November 13, 2021
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Business & EconomyBusinesses in COVID-19CompaniesCOVID-19depressedEconomieseconomyJanet YellenlaborpandemicparticipationUSUS News
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U.S. Treasury Secretary Janet Yellen said on Friday that labor force participation was “quite depressed” compared to pre-pandemic levels. “When we really get control of the (COVID-19) pandemic, I think labor supply will go back to normal,” Yellen told CBS’ “Face the Nation” in an interview on Friday. Yellen said there were several reasons for…
Take Five: Counting the Housing Cost in China
Chinese developer Evergrande has dodged default for the third time in a month but it is unlikely China’s broader economy can avoid damage from the property sector malaise. Upcoming data might show just how bad it is. Whether December’s Bank of England meeting will be a “live” one may be determined by British data, especially…
Stocks Close Higher, but Indexes Still End Week in the Red
Stocks closed higher on Wall Street on Friday, but the market still ended the week lower as inflation worries weighed on investors’ moods earlier in the week. The S&P 500 index added 33.58 points, or 0.7 percent, to end at 4,682.85. While it closed higher, the benchmark index still ended the week down 0.3 percent….
Owning Home Elusive as Rise in Cost of Mortgage Payments Far Outpace Wage Growth
November 12, 2021
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AnalysisBusiness & Economyeconomic policiesEconomieseconomyinflationInvestmentMarketsmortgageOpinionreal estateUS
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News Analysis For Americans seeking to buy a home, this year has likely brought much frustration. A nexus of several natural and man-made factors culminated in the tightest residential real estate markets in recent memory. While median wages increased by 4.3 percent October-to-October this year vs last, typical mortgage payment (30-year fixed rate with 10…
China Real Estate Crisis Could Mean Trouble for US Markets
November 12, 2021
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Business & EconomyChinaChina Business & EconomyEconomiesevergrandeInvestmentreal estateUS Real Estate
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News Analysis As China’s real estate crisis continues to grow, the impact on U.S. real estate is starting to take shape. Much of the impact appears likely to be felt in California and New York, where Chinese investors own many large commercial buildings, and are the main backers of several high-profile development projects. Evergrande Group’s…
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