Revised data released by the Labor Department on Wednesday showed U.S. labor productivity increased by much more than initially estimated in the third quarter. The Labor Department said labor productivity climbed by 0.8 percent in the third quarter compared to the previously reported 0.3 percent uptick. Economists had expected productivity growth to be upwardly revised to 0.5 percent. The upward […]
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As Canadian crooner Michael Buble once sang on his hit 2011 album, it’s beginning to look a lot like Christmas. And while this means an abundance of tinsel, ham, and family reunions, Buble’s prescient prediction also marks grim times for our wallets, with December officially being one of the most expensive months of the year. Money editor Dominic Powell and […]
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The Philippines’ inflation accelerated to the highest level since November 2008, mainly due to an increase in food prices due to poor climate, but remained within the forecast range of the central bank that is widely expected to deliver another rate hike in its policy session next week. The consumer price inflation rose to 8.0 percent in November from 7.7 […]
Read morevideo BofA CEO Brian Moynihan addresses recession fears: Growth slowing, not going off a cliff Bank of America CEO Brian Moynihan discusses the pace of the economy as the Fed fights to get inflation under control on ‘Cavuto: Coast to Coast.’ Bank of America CEO Brian Moynihan said that a "shallow" recession is likely coming in 2023, despite other bank […]
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The Reserve Bank of Australia must have realised the decision to raise rates in December would brand it the Christmas Grinch. But in recent times the central bank has become quite accustomed to its lack of popularity. Within moments of the RBA releasing the decision to raise the cash rate again, a cast of players from mortgage brokers to charities […]
Read morevideo November jobs report stronger than expected The economy added 263,000 jobs in November. FOX Business’ Cheryl Casone with more. U.S. job growth came in stronger than expected in November as a rush of hiring at bars and restaurants helped to offset payroll losses in retail. Employers added 263,000 jobs in November, the Labor Department said in its monthly payroll […]
Read morevideo Labor secretary says immigration ‘biggest threat’ to overall economy Labor Secretary Marty Walsh reacts to the November jobs report and discusses other factors influencing the 2023 economic outlook. On the heels of the November jobs report, Labor Secretary Marty Walsh warned of the "biggest threat to the U.S. economy." "I think the biggest threat to our economy is that […]
Read morevideo Jobs report is very difficult to forecast: Chris Low FHN Financial chief economist takes a closer look at consumer confidence falling for the second straight month on ‘Making Money.’ A growing number of businesses are laying off workers en masse as they brace for a potential recession triggered by high inflation and rising interest rates. Despite still-solid job growth […]
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A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended November 26th. The report said initial jobless claims fell to 225,000, a decrease of 16,000 from the previous week’s revised level […]
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