U.S.-based companies announced 102,943 job cuts in January, up from 43,651 in December. This is the highest number since September 2020 and the highest January print since 2009. The technology sector accounted for 41 percent of all cuts (41,829), followed by retailers (13,000), and real estate (2,191). Employers announced plans to hire nearly 33,000 workers, […]
Money
Tomorrow’s jobs report could set the stage for U.S. labor market in 2023
Tomorrow’s jobs report should be fascinating for a couple of reasons. First, it will be the first employment update for 2023. Second, will it match what the ADP reported, which was just 106,000 new jobs in the private sector? Third, how will the market react if it is a dreadful report? Here is what the […]
Inflation-adjusted Employment Cost Index (ECI) shows negative wage growth again
The Federal Reserve says that labor data will play a key role in its decision to raise interest rates or hit the pause button. Many economists have been concentrating on the latest Employment Cost Index (ECI). The Bureau of Labor Statistics (BLS) reported that the ECI rose 1% in the fourth quarter, down from 1.2% […]
Treasury forecasts debt as a percentage of GDP will soar to 700% by 2090
The Treasury Department has zero faith that the U.S. government will ever resolve its addiction to the national debt. Or does it think that it can just forever monetize the debt? Whatever the case, new projections from the Treasury suggest that the federal debt held by the public as a percentage of GDP will soar […]
Bill Gates: “I had dinner with’ Jeffrey Epstein and ‘that’s all’
Billionaire Bill Gates was once again asked about his relationship with Jeffrey Epstein. Gates seemed rather uncomfortable when asked about it. Here is the exchange from an Australian news program: BILL GATES ON EPSTEIN: “I had dinner with and that’s all” pic.twitter.com/tGxFtaXjM0 — Benny Johnson (@bennyjohnson) January 30, 2023