Nairalanceblog

In the debate about the level of threat the U.S. national debt poses to the economy, most people can agree that any crisis will be felt most sharply by the youngest people in the economy.For example, Citadel CEO Ken Griffin has previously warned that surging debt is an issue the government cannot afford to ignore, writing in his 2023 letter to shareholders that “It is irresponsible for the U.S. government to incur a deficit of 6.4% when unemployment is hovering around 3.75%. We must stop borrowing at the expense of future generations.”A report published yesterday by the Peter G Peterson Foundation suggests that Gen Z, in particular, will face a smaller job market with lower wages if the fiscal trajectory of the country continues to persist.“Rising interest costs not only crowd out resources for public investments within the budget, but also deter private investment in businesses, which slows economic growth and negatively impacts the labor market,” the report says. One might argue...

Gold nudged higher on Tuesday as investors weighed mixed signals on potential U.S.-Iran talks and awaited a series of U.S. labor market reports this week for clues on the Federal Reserve's interest-rate trajectory.Matt Jelonek | Bloomberg | Getty ImagesGold prices gained on Tuesday, supported by a decline in oil ​prices that tempered inflation ​fears and lowered U.S. ​interest rate hike bets, while markets awaited further clues on the Federal Reserve's policy path.Spot gold rose 0.6% to $4,078.10 per ounce, ‌while U.S gold futures gained 1.1% to $4,134.60.Oil prices ⁠pared gains after Qatar said efforts to secure a diplomatic resolution to the U.S-Iran conflict were continuing, though disruptions to oil flows through key shipping routes persisted. Brent crude futures were ‌down over 4% on the news.Lower oil is probably one of the drivers supporting gold prices, said Bart Melek, global head ​of commodity strategy at TD Securities, adding that the decline in many ways has contributed to the interest rate outlook with short-term rates falling a little bit.Elevated energy prices reinforce expectations that ⁠the Fed will keep interest rates higher-for-longer to...

US Dollar Index gains ground to around 99.20 in Monday’s early Asian session. The US August NFP data came in stronger than expected, boosting Fed hike expectations. Traders await the US PPI and CPI inflation data later this week for fresh impetus. The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.20 in the early Asian trading hours on Monday. The DXY edges higher amid a ramp-up in US rate hike bets. US markets are closed on Monday for Labour Day. Data released by the US Bureau of Labor Statistics (BLS) on Friday showed that Nonfarm Payrolls (NFP) climbed by 162K in August, versus an upwardly revised rise of 21K prior. This figure came in above the market consensus of 56K. The Unemployment Rate in the US held steady at 4.1% during the same period. Traders moved to price in a roughly 58.3% probability that the Federal Reserve (Fed) will hike rates this month following...

WASHINGTON — Slightly fewer Americans filed for unemployment claims last week as jobless claims remain at historically low levels and layoffs are still relatively rare.Filings for benefits dipped to 206,000 last week from a revised 207,000 the week before, the Labor Department reported Thursday. The four-week average of claims, which smooths out week-to-week volatility, also fell modestly to 206,000.Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed. For the past year, claims have mostly stayed within a historically low range of 200,000 to 230,000 a week.The American job market has remained sturdy despite higher gasoline prices that have squeezed businesses and consumers since the fighting with Iran began Feb. 28.Layoffs are low. Businesses, remembering the labor shortages that followed the end of pandemic lockdowns, are reluctant to let go of staff. They’re hiring — but modestly by the standards of recent years.So...

BLACKSBURG, S.C. (FOX Carolina) - USA Rare Earth broke ground Wednesday on a new metal and magnet manufacturing facility in Cherokee County, a project slated to bring hundreds of jobs to the area. The facility is scheduled to begin operations in April 2028 and is expected to create about 490 jobs. It will produce rare earth materials essential for automotive, defense, and energy technologies.USA Rare Earth Senior Vice President of Manufacturing David Bushi, Chief Global Policy Officer Greg Bowman, and South Carolina Gov. Henry McMaster spoke at the groundbreaking ceremony.Feel more informed, prepared, and connected with FOX Carolina. For more free content like this, download our apps.Copyright 2026 WHNS. All rights reserved. Source link...

The latest jobs report showed that the US economy likely added 178,000 jobs in March, nearly triple expectations. The unemployment rate dipped to 4.3%. Forecasts had it holding steady at 4.4% or even rising to 4.5%. Health care and social assistance was once again the workhorse sector, accounting for half of the month’s gains; however, job growth was the most widespread across industries since December 2023. At first glance, Friday’s report from the Bureau of Labor Statistics showed that the labor market wasn’t on life support as previously feared, but rather was on solid footing at a much-needed time – when war-driven economic...

By Allison Lampert and David ShepardsonMONTREAL/WASHINGTON, Sept 9 (Reuters) – Bombardier is continuing to recruit American workers to fill 500 open jobs in the U.S., the Canadian private jet maker ​told Reuters on Wednesday, even as it faces threats ‌from President Donald Trump to ban its planes from the U.S. market.Some of the jobs are for a new service center in Fort Wayne, Indiana, which is set to open in mid-November.Bombardier planes are still able to be ‌delivered ​to U.S. customers despite Trump’s threat to ⁠ban the Montreal-based company from ⁠the market amid an escalating trade dispute with Canada, industry sources said.The aerospace sector was not impacted by the latest round of retaliatory measures introduced by the U.S. against Canada on ​Tuesday.A White House official said on Wednesday the Trump administration is preparing options and actions on Bombardier. Trump agreed last ⁠year to reinstate a multi-decade deal that ⁠places tariff-free status on airplanes and components.Fears that ​Bombardier could lose access...

MONTREAL/WASHINGTON (Sept 10):  Bombardier is continuing to recruit American workers to fill 500 open jobs in the US, the Canadian private jet maker told Reuters on Wednesday, even as it faces threats from President Donald Trump to ban its planes from the US market.Some of the jobs are for a new service center in Fort Wayne, Indiana, which is set to open in mid-November.Bombardier planes are still able to be delivered to US customers despite Trump's threat to ban the Montreal-based company from the market amid an escalating trade dispute with Canada, industry sources said.The aerospace sector was not impacted by the latest round of retaliatory measures introduced by the US against Canada on Tuesday.A White House official said on Wednesday the Trump administration is preparing options and actions on Bombardier. Trump agreed last year to reinstate a multi-decade deal that places tariff-free status on airplanes and components.Fears that Bombardier could lose access to a market which accounts for about...

The Canadian economy added a surprisingly large number of jobs in July, and the unemployment rate fell to a two-year low. The increase in Canadian jobs is in sharp contrast to the United States, which unexpectedly shed positions last month. Canada added a net 75,100 jobs in July, outpacing economists’ expectations of 20,000 positions, Statistics Canada reported on Friday. The unemployment rate fell to 6.4 per cent from 6.5 per cent in June.In the U.S., employment decreased by a net 23,000 positions in July, a far cry from the additional 80,000 jobs that were expected by economists.Labour outcomes in the two countries have diverged of late. Where overall U.S. employment appears to have stalled, hiring in Canada has flourished over the late spring and early summer, part of a recent run of strong data that shows the Canadian economy is snapping out of a prolonged slump. “Despite all the see-sawing in the headlines, I think the main story here is...