Author Topic: Global Economy  (Read 651 times)

eddieb

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Re: Global Economy
« Reply #15 on: May 07, 2020, 01:58:45 PM »
I read this online earlier today, a bit concerning.

Comments by Minneapolis Fed president, Neel Kashkari

    Bad jobs report would understate damage because many people are not looking for work
    Thinks that true unemployment rate is 23% to 24%
    But report likely to show a lower number
    Says can avoid depression scenario but US is in for a long gradual recovery
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Caesar

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Re: Global Economy
« Reply #16 on: May 11, 2020, 01:30:56 PM »
Looks like  more bad job news is expected.

White House economic advisers said Sunday that the US is likely to see "very difficult" unemployment numbers in May, with unemployment rates nearing 20%.

Last month, as the US continued to battle the coronavirus, the country saw the unemployment rate jump to 14.7% with a devastating loss of 20.5 million jobs, according to a report released Friday by the US Bureau of Labor Statistics.

The disappointing figures for April are the worst the US has seen since the Great Depression and are particularly shocking when compared to those in February when unemployment was at a 50-year low of 3.5%.

Considering the global state of economies, its amazing there isnt more panic evident

Caesar

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Re: Global Economy
« Reply #17 on: May 11, 2020, 02:47:46 PM »
From yesterday's newspapers

Bank of England warn of possibly worst UK recession in 300 years. Output could fall 30% in first half of this year and 2 million to lose their jobs.

Spains services sector show  reading of 7.1 for April- anything below 50 is contraction and this is a long way below 50.

Germany says industrial production fell 9.2% in March,  more than expected.

France statistics show economy running at 33% of normal levels.


Caesar

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Re: Global Economy
« Reply #18 on: May 22, 2020, 09:53:08 AM »
US initial jobless claims came in at 2.4m as expected and was the lowest reading since March. It takes the total jobs lost since the crisis began to almost 39million.

As various US states reopen and business gets going again, we ought to see hiring exceed firing. The key will be how swiftly the hiring replaces lost jobs its hard to see the 39m being replaced as quickly as they were lost. Temporary layoffs will become permanent as businesses slowly reopen and find demand down and cash flow a problem

Caesar

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Re: Global Economy
« Reply #19 on: May 25, 2020, 07:59:18 AM »
As if we didn't already have enough to contend with, Chinas proposed new legislation for Hong Kong sent the HK market spinning down 5% on Friday.
With all the rhetoric from the West over the weekend,  don't be surprised if European,  UK, and US markets fall when they reopen.

Caesar

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Re: Global Economy
« Reply #20 on: Yesterday at 04:29:36 PM »
In the USA, 40.8 million people have now filed for unemployment benefits through state programs over the past ten weeks, according to figures released by the Labor Department today. The 2.1 million claims filed last week marks the eighth straight week in a row that unemployment filings declined after they historically peaked at 6.9 million for the week ending on March 28.