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Euro zone August downturn deeper than was thought
  + stars: | 2023-09-05 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 5 (Reuters) - The decline in euro zone business activity accelerated faster than initially thought last month as the bloc's dominant services industry fell into contraction, according to a survey which suggests the bloc could drop into recession. REUTERS/Jon Nazca Acquire Licensing RightsThe headline services PMI sank to 47.9 from 50.9, below the flash 48.3 estimate, as indebted consumers feeling the pinch from increased borrowing fees and high living costs reined in spending. The new business index, a gauge of demand, dropped further below breakeven to 46.7 from 48.2, a low not seen since early 2021. Still, the downturn in manufacturing eased last month, suggesting the worst may be over for the bloc's beleaguered factories, a sister survey showed on Friday. The composite employment index dropped to 50.2 from 51.4.
Persons: Cyrus de la Rubia, Jon Nazca, Employers weren't, Jonathan Cable, Hugh Lawson Organizations: P Global, Hamburg Commercial Bank, REUTERS, PMI, Employers, Thomson Locations: July's, Hamburg, Ronda, Spain
But mainstream economic data doesn't always reflect the struggle, according to William Spriggs, Howard University economics professor and chief economist for the AFL-CIO. Throughout the last year, employers claimed they were struggling to staff properly, citing a lack of workers. But as the workforce picked up, employers weren't actually hiring, Spriggs said. Specifically, he said, they weren't hiring Black workers. Watch the video to learn more about how implicit bias corrupts economic data and therefore our understanding of the current labor landscape.
When I was still working full-time, my companies never offered professional development. So I took on side hustles to learn new skills, like marketing, communication, and writing. I decided to start doing my own side hustles that would help me improve or learn new skills, and also get paid in the meantime. If you want to get paid more at your full-time job, consider one of these side hustles that can help you nurture or develop new skills. Tutoring on any topicOne skill that can always use developing, no matter what you do at your job, is communication.
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