The U.S. economy grew at a slightly slower but brisk 3.8 percent annual rate in the second quarter, and fresh signs of a surprisingly buoyant job market emerged last week, government reports on Thursday showed.
This morning, the British Prime Minister, Gordon Brown gave his assurances that stable economic policies would keep inflation down in the medium to long term.
Employers cut 4,000 jobs in August, the first time in four years that monthly hiring contracted, the government said on Friday in a report certain to boost pressure on Federal Reserve policy makers to cut interest rates.
The U.S. economy grew at an annual rate of 4 percent in the second quarter, as strong business investment led the fastest pace of expansion since early last year, the government reported on Thursday. However, the rebound in growth is not likely to be sustained. Policy makers and analysts may scale back estimates for U.S. growth in the coming quarters due to disruptions in the financial markets worldwide from rising defaults in subprime mortgages.
Job losses in the construction sector could top 1 million if a housing downturn tips the economy into recession and tighter access to credit dampens business investment. Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sector in the next few months.
With a slowing economy could the job market see declines this holiday season?
Between the shelves of product catalogues on the wall of a spartan office in an eastern German lighting factory sits a framed quotation, in bold black lettering on silver paper, from Winston Churchill.
U.S. consumers generally expect the labor market to stay healthy, with only a third anticipating a rise in the unemployment rate in the coming year, according to a survey released on Friday.
Employers expanded their payrolls in July at the slowest pace since February and the jobless rate ticked up to its highest since the start of the year, a government report showed on Friday. In another sign of slowing growth, the Institute for Supply Management reported signs of a weakening service sector as its index of July activity fell to 55.8 from 60.7 in June. Any reading over 50 indicates growth.
Sales of new U.S. homes dropped more than expected in June, while orders for long-lasting U.S.-made goods were weaker than analysts forecast, according to reports on Thursday that raised fresh concerns about the economy.
Employers added 132,000 jobs in June and payrolls rose more strongly than previously thought in April and May, according to a Labor Department report that underlined a strengthening job market.
Annelies Kruijthoff is the epitome of the happy Dutch worker.
Globaliz ation is good, but people are earning less of the wealth generated by economic growth and integration as the decades go by, the OECD said on Tuesday.
Higher energy costs boosted producer prices 0.9 percent in May, but excluding volatile food and energy costs, prices paid at the factory gate were up a more moderate 0.2 percent, the Labor Department reported on Thursday.
The seasonally adjusted unemployment rate in Japan fell to 3.8 percent from 4 percent, compared to the previous month, the government said Tuesday.
The average employment rate for the EU climbed 0.5 percent last year to 63.8 percent which is similar to the increase recorded in 2004 following the increase of skilled workers, the commission said on Monday.
The Federal Ministry of Economics in Berlin reported on Wednesday that manufacturing production has grown by around 1.9 percent compared to August levels.
Indian Prime Minister Manmohan Singh said on Friday his government is focusing on boosting economic growth by creating a broad consensus with trade unions and political parties.
New claims for U.S. jobless aid fell by a slightly more-than-expected 6,000 last week, Labor Department data showed on Thursday, and remained at levels suggesting a stable jobs market.
The USA has dropped from being the most globally competitive country in the world to being the sixth in a report by the World Economic Forum released today.
The Office of National Statistics is seeking an explanation from the prime minister's office about remarks Tony Blair made on Tuesday predicting a fall in unemployment
Employment in Europe appears to be rising in earnest following years of sluggish economic growth when companies either cut staff or shunned new recruits to safeguard profits.
