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More us companies are moving production back home due to supply chain issues
... insufficient production abroad. More and more U.S. companies are moving their production and manufacturing facilities back home due to the pandemic supply chain snarls and insufficient production abroad. It has become a huge incentive to set up shop in the United States, according to Dodge Construction Network Chief Economist Richard Branch , chief executive of Yahoo Finance Live . American firms have been moving their production facilities abroad in the pursuit of cheaper materials and labor for decades. The pandemic revealed the weak global supply chain and accelerated the move to bring manufacturing back to America. The manufacturers want more control and more predictability over their supply chains than what they've gotten used to ...
Updated: 07/10/2022
US weekly jobless claims rise, labor demand cooling
... Reserve Federal Reserve stokes recession fears. For the week ending July 2, the Labor Department said on Thursday that initial claims for unemployment benefits increased... ... Reuters had predicted 230,000 applications for the latest week. Since the beginning of June, claims have been bouncing around the 230,000 level, underscoring the labor market's strength even as some companies in the housing and technology sectors have been cutting jobs. In the United States, hundreds of workers have been laid off by Tesla. The claims data could become...
Updated: 07/07/2022
China's Beige Book Chief Economist doesn't think tariff rollback will curb inflation
... Biden Administration wants to tame inflation before the midterms in 2022. Secretary of the Treasury Janet Yellen met with Vice Premier of the People's Republic of China... ... imported from China. In May s Consumer Price Index, CPI, released by the U.S. Bureau of Labor Statistics , these goods and services had the highest price hikes. He also referenced... ... Scissors . Scissors explains that the U.S. exports soybeans to China, despite the United States Department of Agriculture USDA reports that China accounts for 60 percent of global...
Updated: 07/06/2022
LinkedIn’s hiring rate falls 5.4% in June
As to the data released on Friday, the hiring rate of LinkedIn fell 5.4% month over month in June on a seasonally ... ... began was divided by the total number of LinkedIn members in the United States. The resulting number is then indexed to the average month ... ... according to Guy Berger , the company's principal economist. The labor market could be showing signs of a slowdown due to tighter ... ... recession. Economists surveyed by Refinitiv are expecting the Labor Department to add 268,000 new nonfarm jobs in June, down from the ...
Updated: 07/05/2022
Former Trump administration official says U.S. is on the front-end of recession
Larry Kudlow, the former director of the National Economic Council in the Trump administration, said the United States is on the front-end of a recession. Larry Kudlow, the former director of the ... ... worse than expected 1.6% annual pace in the first quarter, according to the Commerce Department's final reading. The figure is slightly higher than the department's first... ... recession is a contraction in GDP activity for two consecutive quarters. In May, the Labor Department said earlier this month that the consumer price index, a broad measure...
Updated: 07/01/2022
Former Trump administration official says U.S. is on the verge of recession
Larry Kudlow, the former director of the National Economic Council in the Trump administration, told FOX Business that the United States is probably on the front-end of a recession. Larry Kudlow , the former director ... ... central bank has already done in order to try and tame the price hikes. The Commerce Department's final reading showed that gross domestic product GDP activity, the broadest... ... readings. A recession is a contraction in GDP activity for two consecutive quarters. The Labor Department said earlier this month that the consumer price index, a broad measure...
Updated: 06/29/2022
U.S. warns chipmakers to abandon expansion plans
U.S. Commerce Department Secretary Gina Raimondo stepped up pressure on Congress to approve $52 billion ... ... firms would abandon American expansion plans without the legislation. Mark my words if Labor Day comes and goes and this Chips Act isn't passed by Congress , these companies... ... they will expand in other countries, she warned in an interview on CNBC . Both houses of Congress have passed versions of legislation to make the United States more competitive with China, which includes chip funding. The lawmakers have...
Updated: 06/28/2022
U.S. is already in a soft recession, says economist
Economist Stephen Moore said on Monday that the United States is already in a soft recession and that the real question is whether the Federal ... ... refers to a contraction in gross domestic product GDP activity, the broadest measure of goods and services produced across the economy. In late April, it was revealed that... ... first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. The Commerce Department said last month that real GDP decreased by an annual rate of 1.5% in the...
Updated: 06/27/2022
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