Economic news, as defined by the Merriam-Webster Dictionary, is “information about a country or economy.” It can be general, such as changes in unemployment rates and economic growth, or it can be more specific, such as an update on the stock market or a survey of the labor market. You can find out about many economic topics by reading the newspaper, following news websites, or watching television.
Jobs report suggests wage growth is slowing
According to the latest jobs report, the labor market remains tight but wage growth is slowing. This is a good thing for workers. It indicates that inflationary pressures are easing, and could allow the Fed to continue to raise interest rates at a slower pace.
The unemployment rate fell to 3.5% and the employment-population ratio increased to 62.3 percent. While the job market has been on the upswing, it’s also clear that the economy continues to suffer from high prices.
Wage growth slowed in the back half of the year. However, this is not a major concern for the Fed. They want to bring inflation down and they believe that wage growth is a key indicator of that.
China’s population shrank for the first time in decades
China’s population shrank for the first time in decades, marking an end to the era of double-digit growth and a start of a new era of decline. A drop in birthrate and an aging workforce will slow the economy and affect China’s social policies.
The decline comes at a crucial juncture for China, which wants to expand its economy. In the past, growth was fuelled by cheap labor and manufacturing, which was dependent on the country’s large workforce. Today, the aging population will make the nation’s social security system less capable of funding services.
This trend is not only affecting China. The population of East Asian countries is also shrinking. India, for example, is expected to overtake China as the world’s largest economy this year.
Inflation slowing more than many economists expected
The US inflation rate decreased more than expected in October. Inflation is a function of supply and demand, and the Federal Reserve is trying to balance the need to keep the economy in a sustainable range while still keeping a lid on inflation.
Overall, the core CPI (without food and energy) increased 0.3% from September to October, well below the median economist’s estimate of a 0.7% increase. Despite the slowing, it is still the highest in more than two decades.
Consumer spending has been resilient during the tightening cycle, but a deteriorating housing market could put pressure on households. Additionally, higher interest rates and a weaker dollar are combining to slow global growth.
TheStreet app provides access to financial analysis and stock-picking insight
TheStreet app for iPhone and Android is a financial news and analysis platform that provides users with stock quotes, commentary, and interactive charts. Users can also watch full episodes of CNBC shows, read related business news headlines, and track different assets. It offers premium content and stocks picks from experts, which are usually available for subscribers.
Compared to other premium services, theStreet’s annual subscription is less expensive. As a member, you will receive two stock recommendations a month from the founders of various companies. In addition, you will have access to their proprietary research.
In addition, theStreet app offers subscribers the ability to customize their news. You can filter your news by location, sector, company, and stock ticker symbol. Moreover, you can add your favorite stocks to your watchlist.
Modeling economic activity in terms of news-based topics
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The Fed is still rooting for higher unemployment rates and slowing the economy
The Federal Reserve has been mulling its strategy for months. The latest job data showed that the economy added 263,000 jobs last month, while unemployment ticked up to 3.7 percent from 3.5 percent in July.
Those are encouraging numbers. However, the Fed’s aims of slowing the economy and easing inflationary pressures seem to be a distant dream.
Fed officials are not happy with the pace of job creation, and they worry about the labor market. A labor shortage could lead to too much wage growth, but a moderate pace of hiring should help temper this trend.
While the Fed is not looking to reverse its policy of raising interest rates, it does plan to hike them again in coming months. This will put some strain on households, but it will also incentivize investment and innovation.