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The Latest Breaking News on Economy

UK facing 'heightened recession risks' as private sector suffers shock decline

AN economist has warned the UK is facing “heightened recession risks” after the private sector suffered a shock downturn in August.

The National (Scotland)

The issue is not about India’s GDP, but its JDP

There is a big dissonance between GDP growth and its translation into actual jobs and incomes for people

The Hindu

Australia’s wage growth slightly weaker than expected in June quarter

The wage price index figures show that despite a tight labour market, there has not been a breakout in wage growth

The Guardian - AU

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UK lost nearly four million days to strike action in past year, study reveals

New report lays bare squeeze facing workers as public sector job vacancies up by a third and real-terms pay plummets

The Independent UK

UK shrugs off recession as economy grows by 0.2% in second quarter

The meagre GDP growth means there is no immediate risk of recession, but leaves the UK stuck in a low growth trap

Evening Standard

Strikes cancellations ‘tip of the iceberg’ – NHS Confederation

In a ‘worst-case scenario’, industrial action in the NHS could be causing double the number of cancellations being reported, representatives say.

The Independent UK

Keep austerity in mind when preparing 2024-25 Budget proposals, says Finance department

Finance Dept. urges govt. depts. to prepare 2024-25 Budget with extreme austerity. Estimates must be realistic & accurate, revenue & dues to be accelerated. Economy measures may require dropping uneconomical schemes & putting off activities. Deadline for non-plan expenditure is Sept. 5, plan expenditure Sept. 10 & revenue estimates &…

The Hindu

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A gender paradox in Tamil Nadu

A woman in Tamil Nadu is likely to be educated, to work, and to find work in a modern sector of the economy. But she is also likely to be paid far lower than men for the same work, and experience segregation in the workplace.

The Hindu

Charting the path for the Sixteenth Finance Commission

The Sixteenth Finance Commission has much work ahead

The Hindu

Ben Bernanke to lead review into Bank of England forecasting errors

Former Fed chair appointed as Bank faces pressure to explain why economic forecasts have been so wide of mark

The Guardian - UK

Big pay rises for top earners in London have masked cuts in rest of UK, says IFS

Britain’s earnings gap is growing as business services, finance and IT workers prosper, thinktank finds

The Guardian - UK

Could the U.S. still see a recession? A handy primer about the confusing economy

A string of encouraging reports is raising hope about the economy — but worries of a possible recession have not gone away. Here's why.

WEKU

Editorial: Bidenomics is just tired liberalism on steroids

The White House wallowed in a bit of good news last week when the Labor Department revealed that inflation in June had cooled to its lowest pace — 3% — in more than two years. Still, Fed officials have signaled that another rate hike is coming because they don’t want…

Tribune News Service

The missing numbers: On the current vacuum of official data

The new Standing Committee on Statistics can pro-actively try to bridge the trust deficit between India’s once-revered statistical system and data users

The Hindu

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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.

The National (Scotland)

Kate Forbes: We don’t need a red carpet, we just need roads connecting to the world

The UK is lagging behind other G7 countries, as a new poll indicates there’s a stark gap in confidence between small businesses in the UK and…

Al Jazeera

Japan’s workers get rare pay bump after decades without a raise

Japanese employees earn only three-quarters as much as developed-country peers over 30 years after asset bubble burst.

The Guardian - UK

Public sector pay rises of 10% would add little to inflation, says UK thinktank

IPPR report undermines Rishi Sunak’s argument that larger wage settlements would be inflationary

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Bangkok Post

Backup plan in works in case budget is delayed

The Ministry of Finance is preparing a backup plan to sustain the economy if delays in forming a new government affect budget disbursement for the 2024 fiscal year starting on Oct 1.

Bangkok Post

Delay poses risks to the economy

The University of the Thai Chamber of Commerce (UTCC) expects a prolonged delay in the selection of a prime minister and formation of a new government, leading to protests that, if violent, will significantly affect tourism revenue, causing a loss of 500 billion baht, or a one percentage point decline…

The Guardian - UK

The Guardian view on public sector pay: higher taxes on the rich are needed to fix broke Britannia

Editorial: Whoever wins the next election will have to spend money to repair the damage done after 13 years of Conservative party rule

The Guardian - UK

BMA rejects public sector pay rise and says government is making choices that leave people ‘sicker and poorer’– as it happened

Doctors’ union rejects offer while all four teaching unions urge their members to accept

The Independent UK

Pay decision expected amid longest junior doctors strike yet

A 6-6.5% rise has been recommended by independent bodies at a potential cost of £5 billion, reports have suggested.

The National (Scotland)

Rishi Sunak's key pledge dealt a blow as UK economy shrinks

RISHI Sunak’s core pledge to “grow the economy” has been dealt a blow after the latest statistics showed the UK economy contracted over the…

The Independent UK

UK economy shrinks slightly after coronation bank holiday

Contraction driven by royal occasions, meaning sectors like construction and finance lost a working day, Office for National Statistics says

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