Browsing: Talous

The Conference Board reported on Tuesday that consumer sentiment about the economy fell sharply in September, the largest drop in more than three years, as worries about jobs and business conditions grew.The commission’s consumer confidence index fell to 98.7 from 105.6 in August, the largest monthly decline since August 2021. 132.6, a month before the coronavirus outbreak.Five components sampled by the organization all performed worse this month, with the largest declines among people ages 35 to 54 earning less than $50,000.”Consumers’ assessments of current business conditions turned negative, while views of current labor market conditions softened further. Consumers also became…

The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market and clearing the way for the Federal Reserve to cut interest rates later this month.Nonfarm payrolls rose by 142,000 this month, up from 89,000 in July but below the Dow Jones consensus forecast of 161,000, according to a report released Friday by the U.S. Department of Labor’s Bureau of Labor Statistics.At the same time, the unemployment rate fell to 4.2% as expected.Although the labor force participation rate remained at 62.7%, the labor force increased by 120,000 people this month, pushing the unemployment rate down…

An attendee obtains information about California jobs during a city job fair recruiting event on June 5, 2024 in Sacramento, California.David Paul Morris | David Paul Morris Bloomberg | Getty ImagesThe unemployment rate among black workers fell in August, according to Labor Department data released Friday.The unemployment rate among black workers fell to 6.1% in August from 6.3% the previous month. This trend is consistent with the country’s overall unemployment rate, which fell to 4.2% in August from July.On the other hand, the unemployment rate for white workers held steady at 3.8%. Unemployment rates also rose among Asian and Hispanic…

Outgoing EU Economic Commissioner Paolo Gentiloni said on Saturday that the EU had managed to avoid the “dire prophecies” that had threatened its economy in recent years but still had to deal with Russia’s war in Ukraine and fragile trade ties with China.In an interview with CNBC, Gentiloni said that the EU economy “generally has weak growth, but there are no dire predictions that we have heard in the past two or three years: recession, blackouts, divisions, the division of Europe before the Russian invasion.” Steve Sedgwick at the Ambrosetti Forum in Cernobbio, Lake Como, Italy.Gentiloni is a former Italian…

Saudi Arabia’s Investment Minister Khalid Al-Falih speaks at the Bloomberg New Economy Forum in Singapore on Wednesday, November 8, 2023. Bloomberg | Bloomberg | Getty ImagesSaudi Arabia’s Investment Minister Khalid al-Falih dismissed skepticism about the kingdom’s plans to diversify the economy, with Riyadh touting “green-backed” investment opportunities to attract foreign financing.”Many people doubt that the vision, the ambition, the breadth, depth and comprehensiveness of it, and the development of a country like Saudi Arabia that has been so dependent on commodities businesses like oil for decades, can do it.” Saturday “What do we want to achieve with Vision 2030,” Falih…

UK Chancellor of the Exchequer Rachel Reeves speaks on the second day of the Labor Party’s annual conference in Liverpool, northwest England, September 23, 2024. Paul Ellis | AFP | Getty ImagesLIVERPOOL, England — Finance Minister Rachel Reeves vowed on Monday that Britain would not return to austerity but said she would make tough choices when she presents her budget proposals next month.”This will be a truly ambitious Budget… a Budget that delivers the change we promised. A Budget that rebuilds Britain,” she told a group of Labor delegates on Monday. “There will be no return to austerity.”Her keynote address…

Italian Prime Minister Mario Draghi held a press conference at the Prime Minister’s Multipurpose Hall in Rome, Italy on July 12, 2022.Massimo Di Vita | Massimo Di Vita Mondadori Portfolio | Getty ImagesA report by economist and politician Mario Draghi says the EU needs up to 800 billion euros ($884 billion) in additional investment annually to achieve its key competitiveness and climate goals.The report points out that the EU’s goals of greater geopolitical relevance, social equality and decarbonization are threatened by weak economic growth and productivity compared with the United States and China.The wide-ranging study, led by Draghi, who served…

Federal Reserve Governor Christopher Waller on Friday backed a rate cut at the central bank’s upcoming policy meeting in less than two weeks and said he would be willing to cut rates significantly if necessary.”Given the continued progress on inflation and the labor market slowdown, I believe now is the time to lower the target range for the federal funds rate at our upcoming meeting,” Waller said in remarks prepared for the Council on Foreign Relations. “New York.Other policymakers have recently argued for easing policy sooner, but this was one of the clearest signs at the September 17-18 Federal Open…

Federal Reserve Chairman Jerome Powell unveiled the latest buzzwords to describe monetary policy and “recalibrate” policy at a critical moment for the central bank.At a news conference after Wednesday’s meeting of the Open Market Committee, Powell used variations of the word no less than eight times to try to explain why the Fed took the unusual step of cutting interest rates by a half-percentage point in the absence of significant weakness in the economy.”This recalibration of our policy stance will help maintain the strength of the economy and the labor market and will continue to drive further progress on inflation…

Commuters cycle past the Bank of England (BOE) (left) in the City of London, England, Monday, September 16, 2024. Bloomberg | Bloomberg | Getty ImagesLONDON – The Bank of England said on Thursday it would keep interest rates steady after its first cut in August, despite the Federal Reserve opting to cut interest rates sharply the day before.The Monetary Policy Committee voted 8 to 1 to remain unchanged, with dissenting members voting in favor of another 0.25 percentage point cut in interest rates.The committee said “gradual” monetary easing remains appropriate and services sector inflation remains “high.” The report added that…