WHITE HOUSE WATCH: MILLIONS FACE MONDAY WITHOUT JOBS, RELATIVES, FRIENDS
–Congress Hits a Speed Bump on the Way to Spending Nearly $2 Trillion By Denny Gulino WASHINGTON (MaceNews) – As U.S. cases of the corona virus now double every two and a half days, more than 84 million Americans are spending a bleak Sunday night facing a week ahead – and maybe months beyond either […]
FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]
UPDATE: CANADIAN ECONOMY ADDS NEARLY 54,000 JOBS IN SEPTEMBER
US JOBS RPT SHOWS WAGE GROWTH SLOWS EVEN AS UNEMP RATE IMPROVES
By Denny Gulino WASHINGTON (MaceNews) – The September jobs report Friday, with 136,000 payroll slots added, was modestly positive for hiring and the 50-year-low unemployment rate of 3.5% was everything a labor market economist could hope for, yet there was a shadow cast overall, a slowing of wage growth that suggested prosperity is ebbing. Manufacturing […]
CANADA GDP FLAT IN JULY, WITH GOODS-PRODUCING SECTOR WEAKENING
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy stalled in July after a four-month growth spurt, as major sectors such as manufacturing, construction, and oil and gas showed signs of weakening. “Following four months of growth, real gross domestic product was essentially unchanged in July as a decline in goods-producing industries was offset by […]
FEDWATCH: CHAIR POWELL SEES “MEETING BY MEETING’ POLICY READY FOR ANYTHING
By Denny Gulino WASHINGTON (MaceNews) – Facing a renewed presidential onslaught and a Federal Open Market Committee split over rate cut policy, Federal Reserve Chair Jerome Powell Wednesday said that the day’s quarter-point cut is part of a “meeting by meeting” policy that is hard to anticipate. “We made one decision today,” he said at […]
ECB SETS NEW STIMULUS PACKAGE BUT QE SHORT OF MARKET EXPECTATION
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank unleashed a fresh wave of stimulus following Thursday’s rate-setting meeting, although the Bank’s renewed quantitative easing package fell short of expectations, with some council members dissenting from a decision to resume quantitative easing. The interest rate on the ECB’s deposit facility will fall by 10 […]
CANADIAN EMPLOYMENT SURGES IN AUGUST
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy produced a surprisingly strong gain in employment during August, adding 81,000 jobs — the majority being part-time positions — while the unemployment rate remained steady at 5.7 per cent for a third consecutive month. Full-time hiring accounted for 23,800 new jobs in August, while part-time hiring totaled […]
US JOBS REPORT A LITTLE SHORT OF BREATH BUT STILL JOGGING
–Workweek Rebounds; No Additional Wage Acceleration; Labor Participation Back to February By Denny Gulino WASHINGTON (MaceNews) – The August jobs report Friday had some bright spots amid a somewhat subdued landscape, with the three-month average payrolls growth slowed to 156,000 even with a new and sizable injection of Census workers. The brightest spot was the […]
MANUFACTURING WEAKNESS HOLDS DOWN CHICAGO FED DISTRICT BUSINESS CONDITIONS
NEW YORK (MaceNews) – Manufacturing business conditions eroded in the Chicago region in July/August while non-manufacturing improved, according to the latest survey of Seventh Federal Reserve district business activity conducted by the Chicago Fed. The Chicago Fed’s Survey of Business Conditions Activity Index rose to −22 in the July/August survey period from −30 in the […]