With four federal unemployment programs ending for millions of Americans, the job hunt is on. Lauren Lewis, a partner at StaffBuffalo, said there are plenty of jobs available in Western New York.
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The cost-of-living adjustment for Social Security benefits for next year is expected to be the largest since 1982.
- Washington Examiner
Rep. Alexandria Ocasio-Cortez, a New York Democrat, will introduce a bill that would extend unemployment benefits for millions.
Rep. Alexandria Ocasio-Cortez (N.Y.-D) has called for the unemployment programs introduced under the March 2020 CARES Act to be extended through January 2022. AOC told viewers during a virtual town...
- Yahoo Money
No state has extended the pandemic unemployment programs that expired earlier this month despite the call from the Biden administration to use leftover stimulus funds to do so.
- Associated Press
Boasting that government policies can make a difference in improving the economy, President Joe Biden went too far Thursday in taking credit for job growth since taking office. Jeffery Born, an energy-markets expert at Northeastern University, said current gasoline prices are partly a result of production and refining capacity that was knocked offline by Hurricane Ida and other factors – even a shortage of tanker drivers.
- The Week
So much for the progressive dream of turning America into a Scandinavian-style social democracy
The New York Democrat admitted the enhanced pandemic benefits were still doomed but said someone at least had to try.
- Yahoo Finance
The Labor Department released its weekly jobless claims report on Thursday at 8:30 a.m. ET.
The International Monetary Fund's ethics committee and board need to look into a report alleging its chief Kristalina Georgieva pressured staff to boost China's ranking in a flagship report while at the World Bank, a French finance ministry source said on Friday. Georgieva has headed the IMF since 2019, during which it has seen its role ramped up, distributing around $650 billion in new Special Drawing Rights, its quasi-currency, as part of a drive to help combat the economic damage inflicted by COVID-19.
Kristalina Georgieva was accused Thursday in an official report of having applied “undue pressure” to boost China's rankings in World Bank report.
- Washington Examiner
President Joe Biden unveiled a negotiating strategy Thursday to galvanize support among Democratic holdouts for his multitrillion-dollar budget reconciliation proposal.
(Bloomberg) -- China’s tough virus curbs mean economic activity in the third quarter could be close to flat compared with the previous three months, while full-year growth may fall below 8%, a top forecaster said.“My view is that the Chinese economy should slow sharply in the third quarter, mainly due to the virus but also controls on property,” said Christophe Barraud, chief economist at Market Securities LLP. Barraud was Bloomberg’s top-ranked forecaster for the Chinese economy last year.Barra
Grocers already squirreling away Thanksgiving turkeys, Invesco reportedly in merger talks with State Street’s asset management business, Biden reframes his economic agenda as tax relief for working families, and other news to start your day.
- Associated Press
The gulf between record job openings and a lack of people taking those jobs is forcing Wall Street to reassess the pace of the economic recovery. Jobs were gutted during the pandemic and employment growth has been a closely watched gauge for investors. Increasing employment eventually results in increased consumer spending, which is the biggest driver of economic growth.
- Business Insider
California spent $276 million on its recall election. Here's how that stacks up against the state's spending on 3 key issues.
The tax dollars spent on the California recall election could have funded programs for the homeless or been funneled into fighting climate change.
Economists expect the pace of economic growth to cool off now that government transfer payments like stimulus checks and emergency unemployment benefits are in the rearview mirror. But evidence suggests that the U.S. consumer is sitting on a lot of financial firepower that could be a key driver of growth in the quarters to come.Why it matters: U.S. consumer spending is massive, representing about 70% of GDP.Stay on top of the latest market trends and economic insights with Axios Markets. Subscri
Despite the high-level conversations, including a call from Treasury Secretary Janet Yellen, the GOP leader is digging in and playing political hardball. He's telling all who will listen that it's up to the Democrats, who have narrow control of Congress, to take the unpopular vote over federal borrowing on their own.
- Business Insider
White House warns states of potential big cuts to Medicaid, school lunch and disaster relief programs if the US government defaults on its debt
Mitch McConnell has dug in on refusing GOP help to lift debt ceiling, raising odds of a showdown that could cause a recession.
The Canadian dollar weakened against its U.S. counterpart on Thursday as the greenback notched broad-based gains and investors weighed domestic data showing some weakening in activity. Canadian wholesale trade fell by 2.1% in July from June, the biggest decline since April last year, and housing starts were down 3.9% in August compared with the previous month. "Momentum (in housing starts) has been moderating after unprecedented strength earlier in the year," Shelly Kaushik, an economist at BMO Capital Markets, said in a note.
Data: Bureau of Labor Statistics; Chart: Danielle Alberti/AxiosStates that ended supplemental unemployment benefits early had similar job growth compared to those that continued aid, according to a recent Wall Street Journal analysis.Why it matters: It suggests the extra $300 a week was not a primary factor keeping unemployed Arkansans from returning to work this last year.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeContext: Gov. Asa Hutchi