America's Unemployment Puzzle: How Low Can It Really Go?
The U.S. unemployment rate hit a 50-year low of 3.4% in 2023, raising questions about its theoretical minimum. While some regions achieve rates below 2%, economists warn that extremely low unemployment could signal economic instability rather than strength.
U.S. Jobless Claims Drop as Labor Market Shows Continued Resilience
The U.S. labor market remains robust with unemployment claims falling to 213,000, defying expectations amid low layoff rates. While some major companies announce workforce reductions, the broader job market maintains stability with a 4% unemployment rate and steady job growth.
Bipartisan Bill Proposes Historic 10% Cap on Credit Card Interest Rates
Senators Josh Hawley and Bernie Sanders introduce groundbreaking legislation to limit credit card interest rates to 10% for five years, aiming to provide relief for Americans struggling with over $1.1 trillion in credit card debt. Banking industry groups strongly oppose the measure, warning of reduced access to credit and potential shifts toward riskier lending options.
US Service Sector Growth Accelerates as Price Pressures Mount
The ISM services index climbed to 54.1 in December 2023, with the prices paid component hitting its highest level in nearly a year. While the sector shows resilience, rising costs and potential policy shifts create uncertainty for businesses navigating inflation pressures.
Real Wages Fall Behind: Inflation Outpaces US Worker Pay Gains Since 2021
Despite steady increases in private sector hourly wages reaching $34.61 by late 2024, persistent inflation has eroded Americans' purchasing power. The trend became particularly severe in 2022 when inflation hit 8% while wages grew only 4.14%, creating one of the largest real wage declines in recent years.
Retirement Crisis Looms: One-Third of Older Homeowners May Never Stop Working
A troubling survey reveals 29% of American homeowners over 50 doubt their ability to retire as planned, with many expecting to work indefinitely. Financial pressures, including insufficient savings, rising costs, and inflation, are forcing difficult choices between retirement plans and daily expenses.
Canada's Labor Market Paradox: Job Growth Overshadowed by Rising Unemployment
Canada's unemployment rate hit 6.8% in November 2023, the highest since 2017, despite adding 50,500 new jobs. The surge in joblessness was driven by labor force expansion outpacing job creation, while wage growth showed signs of cooling.
U.S. Job Market Shows Resilience with 227,000 New Jobs in November Despite Rising Unemployment
The U.S. economy demonstrated remarkable strength in November, surpassing expectations with 227,000 new jobs across healthcare, leisure, and government sectors. While unemployment ticked up to 4.2%, robust wage growth and positive market responses signal continued economic resilience.
The Great Betrayal: How 1980s Economic Policies Decimated America's Working Class
The 1980s marked a pivotal shift in North American economic policy, deliberately dismantling working-class prosperity through aggressive deregulation and anti-labor measures. From record-high interest rates to union-busting, these calculated decisions transferred an estimated $50 trillion in wealth from workers to the affluent over four decades.
Office Loan Defaults Surge to Decade High as Remote Work Reshapes Real Estate
Office loan delinquencies hit 10.35% in October 2023, the highest level since 2012, as the commercial real estate sector grapples with rising interest rates and reduced demand. The trend highlights a fundamental transformation in workplace dynamics despite corporate return-to-office initiatives.