Economic Freedom of the World: US Improves While Hong Kong Falls
The Fraser Institute recently released its annual “Economic Freedom of the World” report. While the US inched up one spot from its previous ranking to fifth-best, this ranking remains below its peak of third-best in 2000. A first-time finding not seen in any of 27 prior years: Hong Kong fell from first place. Singapore nudged […]
Job growth surges but Americans still think the economy stinks
People pump gas into their vehicles at a Shell petrol station on October 2, 2023 in Alhambra, California. Frederic J. Brown | Afp | Getty Images The U.S. economy has added more than 2.3 million jobs this year, the unemployment rate is still below 4% and there are nearly 10 million open positions out there […]
Michael Hudson: A BRICS+ Bank: How Would It Really Function?
Yves here. Michael Hudson explains in detail why much of the discussion of countries in the so-called Global South wanting to create new currencies is fundamentally misconceived. What they want and need to create is a mechanism for settling international payments imbalances, and not a new currency. This is a very important clarification and I […]
Hispanic unemployment rate declines in September
The U.S. unemployment rate held steady in September but ticked down among Hispanic workers, according to data released Friday by the U.S. Department of Labor. September’s nonfarm payrolls report showed a blockbuster month of higher numbers across the board. The economy added 336,000 jobs last month, blowing past the 170,000 estimate from economists polled by […]
Market Talk – October 6, 2023
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 80.69 points or -0.26% to 30,994.67 Shanghai closed Hang Seng increased 272.11 points or 1.58% to 17,485.98 ASX 200 increased 28.70 points or 0.41% to 6,954.20 Kospi increased 5.13 points or 0.21% to 2,408.73 SENSEX increased 364.06 points or […]
A jobs bonanza stirs fears the American economy is overheating
The american economy is supposed to be slowing down by now, and that is supposed to be translating into a weaker labour market. But according to figures released on October 6th, the country added 336,000 jobs in September, nearly twice as many as forecast and the most since January (see chart). It is the latest […]
2:00PM Water Cooler 10/6/2023 | naked capitalism
By Lambert Strether of Corrente. Hat tip to Karabiner Elements, suggested long ago by alert reader Bobbo. Rather than take my MacBook in to repair the keyboard with the failing “f”, “r”, and “w”, I got a USB Magic Keyboard, which has the logout key at top right, right next to the delete key, with […]
Here’s where the jobs are for September 2023 — in one chart
The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market. The strongest sector for job growth in September was leisure and hospitality, according to the Bureau of Labor Statistics. The 96,000 net jobs gain last month was more than the combined […]
Today’s Onerous is Yesterday’s Luxury
In September 1620, my ancestors departed from Plymouth, England on the Mayflower to establish a new home in the New World, some 3,300 miles away. They would ultimately land in November at what is now Plymouth, Massachusetts and immediately faced a harsh winter. About 400 years later, I also undertook a long journey to begin […]
