Another 340,000 American workers filed for unemployment last week, a historically elevated number that nonetheless marked the lowest weekly level of jobless claims since the pandemic struck. First-time filings for unemployment insurance, a proxy for layoffs, came in at 340,000 for the week ending Sept. 2, a drop of 14,000 from the previous week’s revised…
Stock Futures Rise Ahead of Unemployment Data Release
Wall Street futures edged up on Thursday as investors looked to the weekly jobless claims filings later in the day for further clues on the labor market recovery that plays a key role in the Federal Reserve’s expected plans to pull back on easy money policies that have buoyed markets. At 7:13 a.m. ET, Dow…
College Graduate Starting Salaries at All-Time High Despite Pandemic: Report
September 2, 2021
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Business & Economycollege graduatesCOVID-19Economieseducationpandemic unemployment benefitunemploymentUSUS News
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College graduate starting salaries are at an all-time high despite the global pandemic, according to a recent report from the National Association of Colleges and Employers (NACE). Overall, the average starting salary for the college class of 2020 was $55,260, 2 percent higher than the starting salary of $53,889 for the class of 2019, according to…
Residential Construction Spending Rises in July, Boosted by Strong Single-Family Home Outlays
U.S. residential construction spending rose in July, though at a slower pace than in the prior month, as booming demand and rising prices continued to buoy the housing market. The Commerce Department said in a Sept. 1 report (pdf) that U.S. residential construction spending rose 0.5 percent in July, after advancing 0.8 percent in June….
Global Elite Latches Onto Neo-Socialist Vision: The Green New Deal
September 1, 2021
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Aldous HuxleyAustraliaBureau of Applied Social ResearchBusiness & Economyclimate changeEconomiesFriedrich NietzscheGeorge Orwellgreen new dealInternationalJoe BidennewspeakOpinionPaul GottfriedPaul LazarsfeldUSUS NewsViewpointsWorld
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Commentary A reconfigured global elite are shaping up around a new kind of vision for transforming our world. They’ve called their neo-socialist and multilateral vision the Green New Deal. Joe Biden’s White House team are core players in this vision, as they seek to reinvent Roosevelt’s original 1930s New Deal into a contemporary twenty-first century…
US Manufacturing Activity Ticks Up, Beating Forecasts: ISM
Strong order growth in America’s manufacturing sector pushed the Institute for Supply Management’s (ISM) factory activity gauge above forecasts, though a measure of factory employment fell to a nine-month low as firms reported difficulties hiring workers. At the same time, while the ISM’s prices paid by manufacturers gauge saw a decline in August, suggesting a softening…
UK Supply Chain Problems Leave Pubs Short of Beer
The supply chain issues that have dogged some retailers in recent weeks are now leaving some British pubs short of beer. Pub chain JD Wetherspoon has apologised after its supplies of Carling and Coors were affected by the nationwide supply issues. The firm did not provide further details regarding the supply issues but it is…
American Employers Hired Far Fewer Workers Than Expected In August: ADP
Private sector employment in the United States rose by 374,000 in August, sharply undershooting consensus expectations of 613,000, according to Wednesday payrolls data from the Automatic Data Processing (ADP) Research Institute. While differences in methodology mean there’s weak correlation between ADP employment data and the Labor Department’s closely watched nonfarm payrolls report, due Friday, the…
Factories Hit By Pandemic-Related Supply Disruptions
Global factory activity lost momentum in August, just one day after GDP data showed robust manufacturing growth in the first quarter of the current financial year, according to the latest survey of purchasing managers by data firm IHS Markit. The survey (pdf) found that production, delivery, and distribution schedules all experienced substantial delays in August as the ongoing…
Millions of Americans Set to Lose Unemployment Benefits Next Week, No Signs of States Extending
Millions of Americans are set to lose their unemployment benefits as a Sept. 6 deadline approaches for an end to federal pandemic jobless aid programs, with dim prospects for any extensions in light of surging demand for workers and reports that states are not moving to extend them. Around 7.5 million Americans are set to…
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