According to the Fed’s Beige Book, released on Wednesday, wages and other prices gains were seen across most of the 12 districts. As for the overall economic outlook; the Fed said that the US economy grew at a modest pace since mid-May but several of the central bank’s regional districts …
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The lack of skilled workers costs Canada’s economy tens of billions of dollars every year. The current labour shortage has very negative impact on most Canadian companies. A recent survey by the Business Council of Canada indicates that more than 66% of companies have had to adjust timelines for projects …
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US job openings inched lower last month to retreat only modestly from a record high, and vacancies still far outpaced new hires as employers struggled to bring back more sidelined workers.Though vacancies decreased in the latest survey, the data have been volatile and have yet to show a sustainable trend …
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US equities were mixed throughout Friday but eventually closed higher for the week after a streak of up and down days on Wall Street as investors digest the path ahead for the US central bank’s interest rate hikes and a host of new sanctions imposed by Western nations against Russia.The …
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New York Federal Reserve John Williams says that the central bank has to be data-dependent and transparent about its thinking.Williams says officials have to be open to changing course when the data suggests that’s what is needed.Key QuotesSupply chain issues and labour shortages have lasted much longer than expectedThere is …
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Private employers hired more workers than expected in February and data for the prior month was revised sharply higher to show strong job gains instead of losses, aligning with other reports that have produced a positive picture of the US labour market.The ADP National Employment Report on Wednesday suggest that …
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On Friday 4 February, the US official employment report will be released. Market consensus is for an increase in payrolls of 155K while Wells Fargo expects a decline by 100K. They anticipate average hourly earnings to rise by 0.6% during January.Key Quotes: “In recent months, there have been substantial revisions …
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Federal Reserve Bank of San Francisco President Mary Daly said on Friday that the latest Omicron wave will extend the time period that inflation will remain high. Federal Reserve Bank of New York President John Williams said on Friday that he expects the Omicron wave to temporarily prolong and intensify …
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According to the Fed’s Beige Book, a report on current economic conditions in each of the 12 Federal districts, most districts experienced a sudden pullback in leisure and travel spending, as well as hotel occupancy and patronage at restaurants as the number of Covid-19 Omicron infections rose. Additional Takeaways: “Contacts …
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Nursing shortages compounded by the pandemic are expected to continue for years to come, according to a new study, driving up wages and healthcare costs while suppressing spending on non-nursing Hospital expenses such as equipment or new medical technologies. The Omicron variant could worsen this trend by spurring a second …
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