Economic News

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FWIW I work for a small company in a supposedly recession proof business. By the end of this week there will be only 5 people on payroll. Myself, my coordinator, two other graphic artists and the owner of the company. The coordinator works part time.

This time last year there were 8 more people on the payroll.
 
nycfan said:

Inflation Jumped Again In August As Interest Rate Meeting Looms​


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www.forbes.com

Inflation Rose Again In August. Here’s What To Know.

The Federal Reserve meets next week to decide whether to lower interest rates for the first time since December.
www.forbes.com www.forbes.com
Click to expand...
After the PPI report I thought there could be a 50 bps rate cut, but with inflation rising , I'm guessing it will be a 25bps cut with a wait and see if future rate cuts are warranted.

That said, with indications that we are on the path to slowing GDP growth, higher unemployment, and higher inflation, I would be interested in what TylerKong thinks about the possibility of stagflation going into next year.
 
altmin said:
FWIW I work for a small company in a supposedly recession proof business. By the end of this week there will be only 5 people on payroll. Myself, my coordinator, two other graphic artists and the owner of the company. The coordinator works part time.

This time last year there were 8 more people on the payroll.
Click to expand...
Has efficiency brought about the downsizing or has it been a reduction in business?
 
www.nytimes.com

Trump Live Updates: Latest News on 9/11 Memorials, Lisa Cook and More

www.nytimes.com www.nytimes.com

The Trump administration on Thursday asked a federal appeals court to allow it to move ahead with firing Lisa Cook from the Federal Reserve’s Board of Governors, in an attempt to block her from taking part in the central bank’s meeting on interest rates next week.

The government filed its emergency request with the U.S. Court of Appeals for the District of Columbia, two days after a lower court temporarily prevented President Trump from carrying out his plan to fire Ms. Cook over allegations that she falsified records on her mortgage applications.
 
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There are pros and cons to this but it would be a massive change in US reporting standards. Most corporate credit facilities require quarterly reporting for public and private companies alike.
 


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Among other things, this chart indicates that we never recovered from the massive increase of long term unemployed people during the Great Recession. It improved but the trough of long term unemployed since then (ignoring the COVId gyration) is closer to the peak of long term unemployment of prior recessions.

Are people more willing to/ able to hold out for a similar position now or is there a larger cohort of poorly skilled workers who struggle to find permanent gainful employment?
 
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