Author: Leslie Stewart

The Labor Department released data showing that wholesale prices remained unchanged in September, signaling a sustained reduction in inflation levels.The producer price index (PPI), which tracks what producers receive for their goods and services, showed no change during the month, yet it climbed 1.8% compared to the previous year. Economists from Dow Jones had projected a slight increase of 0.1% for September, following a 0.2% increase in August.When excluding food and energy from the PPI, there was a 0.2% increase, aligning with forecasts, and a yearly rise of 2.8%.Additionally, the consumer price index (CPI), which is a broader gauge of…

The French government announced its budget proposal for 2025 on Thursday, which incorporates 60 billion euros (approximately $65.6 billion) in increased taxes and spending reductions. Experts, however, caution that these steps might not suffice to avert a potential downgrade of the economy.This budget places a stronger emphasis on tax hikes than many had anticipated. Analysts highlighted concerns over “politically sensitive” initiatives, including postponing pension inflation adjustments and cuts to local government funding, civil servant salaries, and healthcare services.Key components of the proposal include temporary taxes on major shipping firms and businesses earning over €1 billion annually, impacting about 440 companies.…

Alexander Spatari | Moments | Getty ImagesLONDON — During August, the British economy experienced a rebound, returning to growth following two months of stagnation. This development offers a modest boost to the Labor government ahead of its initial Budget presentation scheduled for later this month.On Friday, preliminary data from the National Bureau of Statistics revealed a 0.2% growth in the economy from the preceding month, aligning with economists’ predictions from a Reuters survey.The UK economy has shown gradual growth throughout this year, although it faced a period of stagnation in June and July. Earlier this year, the nation had exited…

In September, prices surged unexpectedly, according to a report from the Labor Department released on Thursday, highlighting ongoing economic fluctuations influenced by external shocks, including Hurricane Helen and labor strikes at Boeing.The consumer price index (CPI), which is a critical measure of the cost of goods and services, increased by a seasonally adjusted 0.2% in September. This rise brought the annual inflation rate to 2.4%, slightly above projections by 0.1 percentage points.Although the annual inflation rate saw a slight decline of 0.1 percentage point from August, it is the lowest level observed since February 2021.Core inflation, which excludes food and…

Traffic congestion is escalating on Interstate 275 South as people evacuate St. Petersburg, Florida, in anticipation of Hurricane Milton’s impact on October 7, 2024.Octavio Jones ReutersTop analysts on Wall Street are warning that Hurricane Milton, described as a rare event, may lead to financial losses exceeding $50 billion, with a potential maximum damage estimate soaring to over $175 billion.This storm adds to the wreckage left by Hurricane Helen, which caused unprecedented destruction.”At this point, it’s premature to calculate the insured losses, but the effects of a significant hurricane in one of Florida’s most populated areas are expected to be considerable.…

A job listing is displayed outside Urban Outfitters at Tysons Corner Center Mall on August 22, 2024, in Tysons, Virginia. Anna Rose Leyden | Getty ImagesThe strong job growth in September has buoyed the U.S. economy, steering it away from the looming threat of recession and presenting the Federal Reserve with a favorable approach for a soft landing.This scenario, somewhat reminiscent of Goldilocks, appears to be real despite persistent inflation issues that continue to affect consumers.With a robust labor market, an anticipated slowdown in price increases, and falling interest rates, the current economic landscape is relatively positive, creating a pivotal…

The jobs report for September revealed a surprisingly robust performance, indicating growth across various sectors of the economy.The leisure and hospitality sectors led the way, contributing 78,000 new positions, followed closely by health and social assistance, which added 71,700 jobs. If private education were to be included with healthcare, as some economists suggest, this sector would have emerged as the top growth area for this month.Within the hospitality, food services, and restaurant industries, there were 69,000 new jobs created. This marked a substantial increase when compared to the yearly average of just 14,000 jobs added monthly, as stated by the…

Job seekers participated in the JobNewsUSA.com South Florida Job Fair held at Amerant Bank Arena on June 26, 2024, in Sunrise, Florida.Joe Radle | Getty ImagesRecent figures from the Labor Department reveal that the unemployment rates for black and Hispanic men decreased in September, while rates for other racial demographics showed minimal variation.The rate for black men dropped to 5.1% in September, down from 5.9% the prior month. Similarly, Hispanic men’s unemployment rate fell from 4.8% to 4.1%.Overall, the unemployment rate slightly decreased to 4.1%, a decline of 0.1 percentage points from August.”Although the unemployment rate for black workers is…

According to a report released by the Labor Department, the U.S. economy saw a substantial increase in job creation in September, surpassing expectations and reflecting a slight decline in the unemployment rate.In September, nonfarm payrolls rose by 254,000, significantly more than August’s revised total of 159,000 and exceeding the Dow Jones prediction of 150,000. The unemployment rate dropped by 0.1 percentage points, settling at 4.1%.The newly revised report indicating job growth is expected to ease worries regarding labor market conditions and suggests that the Federal Reserve may adopt a slower approach to interest rate cuts. August figures were adjusted to…

Job seekers at the Albany Job Fair held on Wednesday, October 2, 2024, in Latham, New York, USA.Image credits: Angus Mordaunt | Bloomberg | Getty ImagesThe employment landscape for September is anticipated to closely mirror that of August. Hiring has been steadily decelerating since the year’s outset, wage growth has been sluggish, and the labor market aligns with the expectations of many financial policymakers.According to Dow Jones Consensus, nonfarm payrolls are projected to increase by 150,000, slightly up from the previous month’s 142,000. The unemployment rate is expected to remain unchanged at 4.2%. Wage growth is forecasted at 0.3% month-over-month…