labormarket
In an interview published this week by The New York Times, Sen. J.D. Vance (R–Ohio) calls for a more muscular federal government to intervene even more aggressively in the economy than it already does, to create what Vance calls "incentives" for American workers. In doing so, Vance inadvertently reveals one of the major flaws in this line of analysis. Vance's opinions about these things carry significant weight, in no small part because he's on the shortlist to be Donald Trump's running mate. With an eye towards that possibility, the Times' Ross Douthat asked Vance to explain his "populist eco...
Reason
This week's featured article is "American Small Businesses Are Desperate for Foreign Workers" by Fiona Harrigan. This audio was generated using AI trained on the voice of Katherine Mangu-Ward. Music credits: "Deep in Thought" by CTRL and "Sunsettling" by Man with Roses The post <I>The Best of Reason</I>: American Small Businesses Are Desperate for Foreign Workers appeared first on Reason.com.
Reason
Released this morning: The jobs report, released at 8:30 this morning, shows that in May employers added 272,000 jobs, up from the monthly average of 242,000 that's persisted for the first half of the year and far more than most economists predicted. In April, the unemployment rate was 3.9 percent—a bit higher than the 3.4 percent unemployment the year prior. In May, it slid up to 4 percent. "The headline number is a source for celebration for President [Joe] Biden, who frequently points to the strong job market when making the case to voters that he has handled the economy well," summarizes T...
Reason
Brett Brownlee's entrepreneurial streak started simply: as a kid, for kid reasons, with his brother. "Growing up, he and I just used to push mowers around our parents' subdivision to try to save up money to buy basketball shoes," he says. The venture looks a bit different these days. Brownlee makes a living running Archway Lawn Care in the St. Louis area. The company brings in millions of dollars in revenue each year and employs around 50 people during peak season. That isn't to say things have always been easy. Archway's staffing has been a bit of a revolving door, with many employees working...
Reason
The labor market is complex, influenced by many factors ranging from economic policies to global trends. In its role as a regulator and policymaker, the government often releases labor reports to provide insights into the state of the labor market. For instance, the labor report for the month of March was expected to show an addition of 215,000 jobs. However, the reality of these figures and the actual state of the labor market may not always align. The government’s claims: a critical analysisThe government portrays an ultra-strong labor market based on the number of jobs added each month. For...
Due
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Upward GDP RevisionsThe Atlanta Fed is estimating second-quarter GDP growth at a 1.8% annual pace. However, in the wake of this week’s stronger-than-expected economic news, I am expecting upward GDP revisions. Another factor that will cause many economists to revise their second-quarter GDP growth higher is the fact that the Commerce Department announced on Wednesday that the trade deficit in May declined 6.1% to $91.1 billion as imports dropped 2.7% to $254 billion and exports declined 0.6% to $162....
ValueWalk
Finding the right employees for the job has perhaps never been more of a headache for small to medium-business owners in the current economic climate and tight labor market conditions. What’s more, a survey by the NFIB Research Foundation of small business owners reported 44% of respondents said they currently had little to no qualified applicants for open jobs. Q1 2023 hedge fund letters, conferences and more Yet, with inflation still high and corporate companies seemingly laying off thousands of employees each week, several workplace trends are keeping workers out of the workforce and furthe...
ValueWalk
A Soft PCE Inflation ReportPCE inflation and consumer spending data are buoying investors’ sentiment today, with stocks trading up after a relatively soft report. Notably, core PCE edged down both on a month-over-month and a year-over-year basis. Q4 2022 hedge fund letters, conferences and more Any short-term relief showing up in inflation data is welcome news, but this report is by no means cause to celebrate. Core PCE has been essentially range-bound since last December, and this is a very important metric for the Fed as it calibrates its monetary policy stance. Taken together with recent da...
ValueWalk
American motorists are in for a surprise this year, as car and auto insurance costs are set to increase, against the backdrop of two-year-high inflation, a tight labor market, and a shortage in spare parts. Q4 2022 hedge fund letters, conferences and more Last December, the Consumer Price Index (CPI) closed off the year at 6.5%, a consecutive decline from November 2022. Although inflation has been cooling, and car prices have stabilized in recent months, due to aggressive interest rate hikes by the Federal Reserve, some motorists will be surprised to see how much their premiums have increased ...
ValueWalk
The world of work has changed a lot in the last few years, and employees are constantly keeping employers and human resources teams on their toes as they demand better work benefits and higher wages. Q3 2022 hedge fund letters, conferences and more Despite the pay rise, inflation for the recorded period in September was still higher at 8.2%, only coming down recently as the Federal Reserve aggressively hiked up interest rates. Employees are not only demanding better pay, but a slew of workplace benefits including remote work, schedule flexibility, and retirement contributions have millions of ...
ValueWalk
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