Tag: economy

Jamaica

Economy Grew 5.2 Percent For January To September

Jamaica’s economy is estimated to have grown by 5.2 percent for the first nine months of 2022, from January to September. Director General, Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, said the growth reflects positive performance for the Services industry, up 6.7 percent, and the Goods Producing Industry, up 0.6 percent. He pointed out that all industries, except ‘Mining, […]

BUSINESS

U.S. Job Growth Shows Letup In Pace

Although job growth continues in the U.S., there is a dip in pace as rising prices and higher borrowing costs have put the economy in a spot of bother. The U.S. Labor Department, in its recent report, noted that employers added 261,000 jobs in October, while the unemployment rate rose slightly to 3.7%. The news comes as the economy remains […]

BUSINESS

No Letup In US High Inflation

Fast rising prices continued to plague the US economy last month, though a drop in petrol costs provided some relief. The annual inflation rate fell to 8.3% in August. That was down from 8.5% in July, marking the second month of decline. But the costs of food, housing, and medical care continued to surge, disappointing economists expecting more widespread easing. […]

BUSINESS

The U.S. Economy Rolls Jobs Strong

The U.S. economy added 315,000 jobs in August, much more than economists anticipated, albeit way below July’s mega numbers, when employment surged by a revised 526,000 positions. The nation’s unemployment rate rose to 3.7 percent as more people entered the labor market looking for work, the Bureau of Labor Statistics reported. The labor force participation rate ticked up by 0.3 […]

Jamaica

Jamaica’s Economy Shows 5.7 Percent Growth

Jamaica’s economy is estimated to have grown by 5.7 percent for the April to June quarter. The Planning Institute of Jamaica (PIOJ) gave the preliminary estimate at a press briefing recently. PIOJ Director General Dr. Wayne Henry said the country realized growth, despite a contraction in some key sectors.  He said the outturn was largely the result of the removal […]

BUSINESS

The U.S. Economy In A Mirage

The U.S. economy showed signs of weakness, experiencing a second straight quarterly decline from April to June, dropping at an annual pace of nine-tenths of a percentage point and pushing the world’s biggest economy into a recession by one common measurement. The Commerce Department reported the decline in the gross domestic product – the broadest gauge of the American economy […]

BUSINESS

China Sees Contraction In Economy

China’s economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter. Major cities across China, including the major financial and manufacturing center Shanghai, were put into full or partial lockdowns during this […]

POLITICS

President Biden’s Approval Rating Tanks

According to a latest CNN poll, President Biden’s approval rating is trending downward, which spells doom in political punditry, given the fast-approaching midterm election. According to the findings, members of the public have a negative perspective on the state of the economy, viewing it as the worst since 2011. It also shows the president’s approval rating in the poll stands […]

Jamaica

We Must Not Repeat the Economic Mistakes of the Past – Prime Minister Holness

Amid Crises, the Government Must Maintain a Stable Economy to Ensure the Protection of Livelihoods While at the Same Time, Implementing Programs and Policies to Cushion the Impact on the Most Vulnerable. Prime Minister Andrew Holness says the Government’s management of the economy during two major crises has resulted in growth and historic unemployment figures, which are crucial to Jamaica’s […]

BUSINESS

U.S. Labor Market Shows Muscles

Employers added 372,000 jobs in June as the labor market shows off its strength in a slowing economy, where high inflation and rising interest rates continue to raise their ugly heads. The unemployment rate held at 3.6% for the fourth straight month, just above a 50-year low, the Labor Department said Friday. Economists surveyed by Bloomberg had estimated that about […]