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SHOCKING: 73 - You Need To See This

Bidenomics’ critics are being proven wrong. Happy days are here again

How has the U.S. economy proven so resilient? Partly due to Bidenomics, write Yale's Sonnenfeld and Tian.

Fortune

Can Artificial Intelligence help in delivering speedy justice needs a thought, says KSLU Vice-Chancellor

KSLU VC C. Basavaraju emphasised need to ponder how AI can be adopted in legal system for speedy justice. AI has benefits, but also negative aspects that need to be considered. Need strong IT law to prevent misuse. Technology revolution has made us ponder if it can solve issues like…

The Hindu

Congressional Budget Office predicts slower economic growth and 4.7% unemployment into 2024

The Congressional Budget Office reports that economic and job growth so far this year has been stronger than forecast in February, but an updated outlook sees parts of the economy as weakening through 2024

The Independent UK

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Inflation has peaked – but will the RBA stop raising rates and focus on locking in low unemployment?

The latest numbers show success in the fight against inflation even as jobs figures remain stable

The Guardian - AU

U.S. weekly unemployment insurance claims fall to 228,000

New applications for U.S. unemployment insurance benefits fell 9,000 for the week ending July 15 to a seasonally adjusted 228,000. The previous week’s figure was unrevised. The four-week moving average as of July 15 fell 9,250 from the previous week’s unrevised average to 237,500.

Ballotpedia

Beijing to provide more economic support to boost sluggish post-pandemic recovery

Real estate and tech stocks in Hong Kong and China soared this Tuesday after a Politburo meeting signalled the government would provide more support to the economy. The July meeting is often seen as crucial in setting the tone for economic policy in the country. China says it is on…

France 24

A Strong Case Against Further Rate Hikes in 2023

The markets have priced in a 99.8% chance of a 25 basis point rate hike at the July 26th FOMC meeting. The data the Fed is looking at may say otherwise!

Barchart

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President Biden talked ‘Bidenomics’ at the Philly Shipyard. Here’s what it means.

President Biden has a new reelection campaign catchphrase: Bidenomics.

The Philadelphia Inquirer

Dollar Rises on Higher Bond Yields and U.S. Labor Market Strength

The dollar index (DXY00 ) Thursday rallied to a 1-week high and rose by +0.57%. A jump in bond yields Thursday supported the dollar. Also, signs of strength in the U.S. labor market are hawkish for Fed policy and bullish for the dollar after weekly initial unemployment claims unexpectedly fell...

Barchart

Reserve Bank might be using sledgehammer to crack a nut

Prominent economists say a broad range of economic policies are needed to tackle inflation with RBA rate hikes ineffective against key sources of inflation.

AAP

US applications for jobless benefits fall to 2-month low

U.S. applications for unemployment benefits fell last week to the lowest level in two months, suggesting resilient demand for workers amid a moderation in job gains.

Tribune News Service

US jobless claims fall again as labor market continues to flash strength

Fewer Americans applied for unemployment benefits last week as the labor market continues to show fortitude in the face of higher interest rates

The Independent UK

Unemployment is staying low at 3.5%. But for those out of work, here's why it's become harder to get a job

Slower employment growth, faster population growth and a steady rate of unemployment are the main stories from the Bureau of Statistics’ labour force update, released on Thursday.

The Conversation

Unemployment rate falls to 3.5% as the economy adds 32,600 jobs in June on latest ABS figures

The bureau of statistics labour numbers will be examined closely by the Reserve Bank when it meets on August 1 to consider interest rates

The Guardian - AU

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Kiplinger

What Is Stagflation and How Can Investors Prepare?

An oil supply shock and a weak jobs report have markets wondering about stagflation, when economic growth slows and the unemployment rate spikes.

AAP

Aussie unemployment rate hangs on at 3.5 per cent

The labour market has proved resilient, with the jobless rate coming in at 3.5 per cent and 33,000 new jobs added to the economy.

Ballotpedia

U.S. weekly unemployment insurance claims fall to 237,000

New applications for U.S. unemployment insurance benefits fell 12,000 for the week ending July 8 to a seasonally adjusted 237,000. The previous week’s figure was revised up by 1,000 to 249,000. The four-week moving average as of July 8 fell 6,750 from the previous week’s revised average to 246,750.

The Conversation

Australia is on the brink of ending interest rate hikes and an economic first – beating inflation without a recession

What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession.

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AAP

'I have a mountain of respect' for Lowe: Treasurer

Treasurer Jim Chalmers is unable to say if inflation can come back down without a rise in unemployment but declined to comment on the RBA's July rate decision.

The Guardian - AU

Hundreds charged after NSW domestic violence operation; South Australia moves to ban no cause evictions – as it happened

This blog is now closed.

Barchart

The 5 Cheapest Cities to Live in America Right Now

Americans continue to move between states at a rapid pace, seeking out cheaper places to live. Which are the cheapest cities to live in today?

Zenger

US Producer Prices Rise Slightly In June, Inflation Remains Subdued

Lower-than-expected PPI and unemployment claims reinforce market expectations for Fed to pause tightening policy.

The Hindu

Development projects worth ₹2 lakh crore under way in A.P.: Gadkari

Union Minister Gadkari expressed satisfaction at Andhra Pradesh's development efforts. Projects worth ₹2 lakh crore are in progress, doubling national highways from 4,193 km to 8,744 km. PM Modi's vision of poverty/unemployment eradication through infrastructure is being implemented. Projects worth ₹17,000 crore in Tirupati, inter-modal bus terminus, and Swastya hospital…

The Conversation

Looking for work? 3 tips on how social media can help young South Africans

South Africa has a growing unemployment rate. Statistics show the unemployment rate to be above 60% for those aged 15-24 and over 40% for those aged 25-34 years. Rankings from the World Bank position South Africa as having the highest unemployment rate in the world.

Tribune News Service

US jobless claims dip to 237,000 as labor market stays resilient

U.S. applications for unemployment benefits fell last week, suggesting companies are holding onto workers despite a moderation in job gains.

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