President Joe Biden cited Thursday’s unemployment numbers as a signal his administration is shepherding a “durable economic recovery” following the coronavirus pandemic. The Department of Labor announced earlier that day that the number of people filing new unemployment claims fell to 310,000, the lowest mark since the beginning of the pandemic. Claims spiked in late
Sep 8th 2021 WASHINGTON, DC INFLATION, IT IS often said, is a matter of too much money chasing too few goods. In many places that has been 2021 in a nutshell. Resurgent demand collided with insufficient supply, yielding inflation of 3% in the euro area, more than 4% in America and over 9% in Brazil.
Wall Street strategists mostly agree that the worse-than-expected August jobs report wasn’t just a mild setback for the COVID-19 economic recovery, it was a major setback that warrants closer attention by investors. “A major speed bump,” is how Bank of America economists summed up the report in a flash note to clients on Friday. “There
Credit: Unsplash/CC0 Public Domain Economic models of climate change may have substantially underestimated the costs of continued warming, according to a new study involving UCL researchers. Published today in the journal Environmental Research Letters, the work by an international team of scientists found that the economic damage could be six times higher by the end
A MEME THAT circulated recently on Twitter in Brazil depicted the economy minister, Paulo Guedes, as a footballer facing a wide-open goal. He shoots. The ball soars over the crossbar. The meme refers to a proposed tax reform that Mr Guedes has been trying to get through Congress but it also reflects growing pessimism about
Sep 5th 2021 London and San Francisco THE ECONOMIC recovery from the covid-19 pandemic is lopsided in many ways. Vaccinations have allowed some countries to bounce back rapidly, even as others struggle. Demand is surging in some sectors but still looks weak in others. Another big source of unevenness is slowly becoming clear. As national