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The Latest Breaking News on Economy

US hiring solid while wages cool, giving Fed room to slow hikes

The U.S. labor market stayed strong last month and wage gains cooled, boosting hopes the economy will dodge a recession and giving the Federal Reserve room to slow interest-rate hikes.

Tribune News Service

Pandemic blows hole in Australia population goal but migration recovering

The COVID pandemic has blown a million-person hole in Australia's population projections in a challenge for an economy that has relied on having more consumers to drive growth, though a speedy recovery in migration promises to soften the blow.

Reuters

Conor Sen: The January inflation bump Americans should welcome

Inflation was the bogeyman of 2022. Here at the dawn of 2023, the big question for the U.S. economy is whether or not — and when — we'll dip into a recession this year. In that respect, the bogeyman could become more of a friend.

Tribune News Service

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Fiscal 2024 budget wins approval of state agencies

Four state economic agencies endorsed the framework of the fiscal 2024 budget on Wednesday, with state expenditure set at 3.35 trillion baht and a budget deficit of 593 billion baht.

Bangkok Post

What are the five promises Rishi Sunak made in his speech?

PM vows to halve inflation, cut waiting lists and halt migrant boats among other priorities

The Independent UK

Melbourne shrank while Queensland grew: what the pandemic did to Australia’s population

The Victorian capital is still on track to outpace Sydney as the biggest city in Australia but Covid lockdowns slowed that growth

The Guardian - AU

Swansea will fare marginally better than Cardiff as UK emerges from recession claims report

New research from Irwin Mitchell predicts Swansea will return to growth slightly faster than Cardiff in Q4 of 2023

Birmingham Post

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New year, more money

See which states are hiking the minimum wage.

Axios

Edinburgh and Glasgow lead the pack as UK set to exit recession in mid-2023

However, Aberdeen’s economy is predicted to shrink in the next 12 months

Insider UK

Canada sets immigration record as Trudeau seeks more workers

Canada added more than 431,000 new permanent residents last year, the largest annual increase in its history, as Prime Minister Justin Trudeau seeks to ease the country’s labor shortages.

Tribune News Service

2 Upgraded Stocks to Add to Your Watchlist This January

IMF chief has warned that this year will be more challenging than the last year. Furthermore, growing recessionary fears and the COVID “bushfire” could negatively impact the economy. Amid an uncertain economic backdrop, it could be wise to add fundamentally strong stocks Altria Group (MO) and Schlumberger (SLB) to your…

StockNews.com

3 Stocks That Thrive During Economic Uncertainty

With the Fed signaling to keep raising rates through this year, the threat of a recession is looming. Given an uncertain market backdrop, investors should buy fundamentally sound stocks, PepsiCo (PEP), Humana (HUM), and Sysco Corp. (SYY), that can generate steady returns. Read on….

StockNews.com

UK economic outlook 'as bad as it gets' – and Tories made it worse, experts warn

THE economic future facing the UK in 2023 is “as bad as it gets” and will be “much worse” than the pandemic, top economists have said – as…

The National (Scotland)

Britain faces the worst recession among G7 partners, economists predict

A bleak survey of over 100 leading UK-based economists suggests high inflation could linger for longer than other countries as Brits face a huge squeeze in household incomes

Daily Mirror

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The Independent UK

UK suffering from ministers’ ‘outright incompetence’, economists warn

The UK is set for a deeper recession than other G7 nations, economists warned

The Times of India

Month changed, year changed, but unemployment continues to rise, instead of decreasing: Former Haryana CM Bhupinder Singh Hooda

CHANDIGARH: Former Haryana chief minister and leader of opposition Bhupinder Singh Hooda said on Monday that the change in month and year is not bringing any good news or relief to the people of Haryana as the state continues to be number one in unemployment in the country.

Wales Online

Threatened teachers strikes in coming months could see most children sent home

Mainstream education could revert back to the pandemic era

Al Jazeera

2023 to be tougher for global economy than 2022, IMF chief says

IMF Managing Director Kristalina Georgieva says one-third of world’s economies expected to be in recession this year.

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The Times of India

China economic activity worsens in December as Covid spreads

BEIJING: China’s economic activity contracted at a steeper pace in December as the country suddenly reversed its Covid Zero policy and the virus swept through major cities, causing people to stay home and businesses to shut.

Asharq Al-Awsat

Unemployment Rate Continues to Decline among Saudis

Saudi Arabia’s labor market indicators showed a decrease in the unemployment rate by 1.4 percentage points in the third quarter of 2022, compared to the same period in 2021. The rate of participation of citizens in the labor force increased by 2.7 percentage points, and the ratio of the employed…

Tribune News Service

VIEWPOINT 2: Fed will cause unnecessary harm and other predictions

Here are eight predictions for the coming year in accordance with a hallowed tradition that I have previously not honored. If some of the supporting facts below seem unfamiliar, it could be because they have not received the attention they deserve. But they are real.

ABC News

As the UK falls into a recession that could soon swallow Europe, this town offers clues on England's cost-of-living nightmare

Prices quietly surged in this small town in the United Kingdom. Then it became the epicentre of a cost-of-living crisis.

The Times of India

India's external debt declines by $2.3 billion in Q2 FY23

NEW DELHI: India's external debt stood at $610.5 billion in the second quarter of 2022-23, down by $2.3 billion from end-June 2022, the finance ministry said on Thursday.

The Independent UK

Applications for US unemployment aid rose slightly last week

The number of people seeking unemployment benefits rose modestly last week, the latest sign that the labor market remains strong despite the Federal Reserve’s efforts to cool the economy and hiring

Tribune News Service

Editorial: The fiscal cliff looms; nothing to see here

The national debt is much like the weather. Everybody worries about the topic, but nobody wants to do anything about it.

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