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☆ Deadly heat waves fueled by climate change are threatening India's development, study says
▼ + stars: | 2023-04-20 | by ( Helen Regan | ) edition.cnn.com time to read: +5 min

CNN —Deadly heat waves fueled by climate change are threatening India’s development and risk reversing its progress on poverty alleviation, health and economic growth, a new study has found. Since 1992, more than 24,000 people have died because of heat waves in India, the study said. And the impacts are expected to get worse as heat waves become more frequent, intense and lethal due to the climate crisis. More than 90% of the country could be severely impacted by heat waves, falling into an extreme heat “danger” zone, according to the heat index, the study found. The heat index is how hot it feels and considers both air temperature and humidity to assess the heat’s impact on the population.

☆ Jobs are strong, inflation is cooling — yet recession worries remain
▼ + stars: | 2023-04-18 | by ( Christine Romans | ) edition.cnn.com time to read: +4 min

In the optimist camp is Treasury Secretary Janet Yellen, who told CNN’s Fareed Zakaria last week a damaging recession can be averted. “I do think there is a path to bring down inflation while maintaining what I think all of us would regard as a strong labor market.”After months of inflation at close to 40-year highs, prices are cooling. By most measures, the job market is stronger today than it was in February 2020, before the Covid pandemic crashed the global economy. “I think the strong labor market and bringing down inflation are compatible goals,” Yellen said. Another read is that a recession, if there is one, will be mild and brief, without a big spike in the jobless rate.

☆ Watch CNBC's full interview with U.S. Chamber of Commerce CEO Suzanne Clark
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with U.S. Chamber of Commerce CEO Suzanne ClarkSuzanne Clark, U.S. Chamber of Commerce president and CEO, joins 'Squawk on the Street' to discuss the Chamber's letter to the SEC about regulation and public policy risk, the immigrant labor force, and more.

☆ SEC regulation needs additional cost-benefit analysis: U.S. Chamber of Commerce CEO Suzanne Clark
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC regulation needs additional cost-benefit analysis: U.S. Chamber of Commerce CEO Suzanne ClarkSuzanne Clark, U.S. Chamber of Commerce president and CEO, joins 'Squawk on the Street' to discuss the Chamber's letter to the SEC about regulation and public policy risk, the immigrant labor force, and more.

☆ One chart shows how many more hours married women spend on housework than their husbands in 5 different types of opposite-sex marriages
▼ + stars: | 2023-04-16 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Pew Research Center compared the hours opposite-sex married couples spend on housework and caregiving. The chart below shows the average time spent per week on housework and caregiving duties for five different kinds of income arrangements for opposite-sex marriages. Wives in these wife-primary-earner marriages spend about 11 hours a week on housework and caregiving compared to their husbands' almost 8 hours a week. 57% of US adults said American society values the "contributions men make at work." Men and women pretty much said the same thing — 55% of men and 58% of women answered this way.

☆ Yellen to CNN: The US can bring down inflation while maintaining a strong job market
▼ + stars: | 2023-04-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

“I do think there’s a path to bring down inflation while maintaining what I think all of us would regard is a strong labor market,” Yellen said. Yellen said she is seeing some easing of stress in the labor market, including increases in unemployment claims, declines in job openings, and upticks in labor force participation. The labor market gaining more slack will help bring inflation down, but it doesn’t mean there needs to be a significant jump in unemployment, she said. “I think the strong labor market and bringing down inflation are compatible goals,” she said. “Americans should note that America has a safe, strong banking system,” she said.

☆ Gov. Phil Murphy discusses New Jersey's third credit rating upgrade in five days
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGov. Phil Murphy discusses New Jersey's third credit rating upgrade in five daysPhil Murphy, the Governor of New Jersey, joins 'Power Lunch' to discuss making New Jersey property taxes more affordable, growing New Jersey's innovation economy, and growing New Jersey's white-collar labor force.

☆ Unemployment Is Low. Inflation Is Falling. But What Comes Next?
▼ + stars: | 2023-04-14 | by ( Ben Casselman | ) www.nytimes.com time to read: +1 min

“You’re risking losing millions of jobs if you wait too long,” Mr. Furman said. The combination of increased supply and reduced demand should, in theory, allow the labor market to come back into balance without leading to widespread job cuts. So far, that appears to be happening: Wage growth, which the Fed fears is contributing to inflation, has slowed, but layoffs and unemployment remain low. Jan Hatzius, chief economist for Goldman Sachs, said the recent job market data made him more optimistic about avoiding a recession. And while that outcome is far from certain, he said, it is worth keeping the current debate in perspective.

☆ These are the 9 most expensive states to start a business—No. 1 isn't New York
▼ + stars: | 2023-04-13 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Louisiana, the ranking's third-most expensive state, has the least amount of commercial space available per 100,000 people of any state. It also has a relative dearth of available talent: Louisiana is bottom three among all U.S. states in terms of labor force participation rate, at 69.2%, and only 26.4% of its post-college-age workers have at least a bachelor's degree. And the state's business environment appears to leave something to be desired. Its business survival rate of 0.54 is the country's fifth-worst, according to 2021 data from the U.S. Bureau of Labor Statistics. Something like labor force participation rate may be less obvious: Having a large population of eligible workers at your disposal can save you time and money when recruiting new employees.

☆ Cramer: Amazon has let people go, but that's after doubling their labor force
▼ + stars: | 2023-04-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Cramer: Amazon has let people go, but that's after doubling their labor force"Mad Money" host and former hedge fund manager, Jim Cramer, gives his take on Amazon.

☆ These are the 9 least expensive states to start a business—none of them are in the northeast
▼ + stars: | 2023-04-12 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Nevada tops this ranking as the least expensive U.S. state to start a small business, due to factors like an abundance of available commercial space and the state's lack of corporate income tax. Small business loans were also widely available in those two states in 2020, the most recent year with complete Small Business Administration data. Arkansas small businesses received nearly $43 million in loans per 100,000 residents that year, the sixth-highest of any state. Some states offer tax credits for businesses in specific industries, which could help some startups and not others. "For entrepreneurs who have the ability to pick and choose where they want to start their business, it's clear that certain states will allow you to save money," the ranking noted.

☆ There's no reason for the US to fall into recession unless the Fed messes up, Mohamed El-Erian says
▼ + stars: | 2023-04-11 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Mohamed El-Erian said the US economy can avoid a recession unless the Fed makes another policy error. "There's no reason why we should fall into a recession other than getting another Fed policy mistake," he said. REUTERS/Jason ReedMohamed El-Erian says there's no reason for the US to tip into recession unless the Federal Reserve miscalculates what it needs to do again. "There's no reason why we should fall into a recession other than getting another Fed policy mistake," he said. Those tighter credit conditions — a credit crunch — could end up dragging on economic growth alongside Fed rate hikes.

☆ IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990
▼ + stars: | 2023-04-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Ishara S. Kodikara | Afp | Getty ImagesThe International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years. The D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook since 1990. "The world economy is not currently expected to return over the medium term to the rates of growth that prevailed before the pandemic," the Fund said in its latest World Economic Outlook. IMFIn the short term, however, the IMF expects global growth of 2.8% this year and 3% in 2024, slightly below the fund's estimates published in January. Banking turmoilThe IMF said that its baseline forecast "assumes that the recent financial sector stresses are contained."

☆ Wharton professor Jeremy Siegel reveals his investment plan if a recession hits and reiterates his view that the stock market bottom is in
▼ + stars: | 2023-04-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Long-time stock market bull Jeremy Siegel is getting more cautious about a potential recession. The Wharton professor said that a slew of recent economic data did not include the impact of the US banking crisis. Despite the potential for a recession, Siegel believes the October stock market lows will hold firm. And while the March jobs report was solid, it did show one concerning sign, according to Siegel: a decline in the number of weekly hours worked. "What wasn't noticed enough was another 1/10th drop in hours worked.

☆ The resilient job market is finally showing signs of cooling off
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The job market is clearly starting to slow down. Mohamed El-Erian said March's jobs report was a win-win for both the stock market and the Fed. "We are making this transition where the stock market was obsessed with interest-rate risk to one that is concerned about credit risk." What's your take on the latest job data? In other news:Traders works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.

☆ US tech stocks close lower in mixed session as investors weigh recession worries alongside potential for another Fed rate hike
▼ + stars: | 2023-04-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks ended Monday's session mixed, with the Nasdaq trailing rival indexes. Investors returned from the Good Friday break anticipating another Fed rate hike after the March jobs report. Consumer inflation data and the first bank earnings after Silicon Valley Bank's collapse are due this week. But traders were also continuing to price in expectations the Fed will raise interest rates again by 25 basis points, with those odds rising to 71% during the day. Investors, by odds of nearly 70%, are expecting the Fed to raise interest rates by another 25 basis points, to a range of 5%-5.25% at its May 2-3 meeting.

☆ Premarket stocks: What markets are watching after digesting the US jobs data
▼ + stars: | 2023-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

While inflation has come down and other economic data point to a cooling economy, the labor market has remained remarkably resilient. The labor market is cooling but not rapidly or significantly, and further rate hikes can’t be ruled out. More trouble for commercial real estateA few weeks ago, Before the Bell wrote about big problems brewing in the $20 trillion commercial real estate industry. In a worst-case scenario, anxiety about bank lending to commercial real estate could spiral, prompting customers to yank their deposits. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate.

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

☆ Fed needs to see people coming into the labor force, says economist Betsey Stevenson
▼ + stars: | 2023-04-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed needs to see people coming into the labor force, says economist Betsey StevensonJoseph LaVorgna, SMBC Nikko Securities America chief economist, and Betsey Stevenson, professor of economics at the University of Michigan, join CNBC's "Squawk Box" discuss Friday’s jobs report.

☆ Job growth totals 236,000 in March, near expectations as hiring pace slows
▼ + stars: | 2023-04-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

watch nowNonfarm payrolls rose about in line with expectations in March as the labor market showed increased signs of slowing. The Labor Department reported Friday that payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000 and below the upwardly revised 326,000 in February. "I have never seen a report align with expectations as much today's over the last two years." Leisure and hospitality led sectors with growth of 72,000 jobs, below the 95,000 pace of the past six months. While the February report was revised up from its initially reported 311,000, January's number moved lower to 472,000, a reduction of 32,000 from the last estimate.

☆ VIEW US payrolls rise moderates in March, participation rate firms
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said on Friday. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. That also should ease pressure in the job market and help overall growth in the months and quarters ahead." “The overall headline view is that everything is remarkably in line with expectations. "The Fed will look positively on a further rise in participation to a new cycle high 62.6%, while a renewed drop in unemployment to 3.5%, coupled with continued healthy headline jobs growth, should cement the case for another 25 bps rate hike at the May meeting."

☆ US economy still churning out jobs at brisk clip; wage pressures subsiding
▼ + stars: | 2023-04-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Labor market tightness is drawing more people into the workforce, with 480,000 entrants last month, which could help to further restrain wage growth. The unemployment rate for Blacks dropped to an all-time low of 5.0%. Economists expect the labor market to loosen up considerably starting in the second quarter as companies respond more to slowing demand caused by the higher borrowing costs. Details of the household survey from which the unemployment rate is derived were upbeat. The employment-to-population ratio, viewed as a measure of an economy's ability to create employment, increased to 60.4% from 60.2% in the prior month.

☆ The March jobs report was a win-win for stocks and the Fed, economist Mohamed El-Erian says
▼ + stars: | 2023-04-07 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

The March jobs report is a win for stocks and the Fed should keep a steady pace of rate hikes in May, Mohamed El-Erian said. Stock futures closed higher after the jobs report that arrived during the Good Friday holiday. "It's good to see good economic news," El-Erian, chief economic adviser at Allianz, said on Bloomberg TV after the Labor Department released its report. US stock futures turned higher after the Labor Department released its data. Trading in stock futures was open until 9:15 a.m. Eastern time on Friday, while broader equity trading was closed for the Good Friday holiday.

April 7 (Reuters) - The Black unemployment rate hit a record low in March, a milestone for a U.S. labor market that most policymakers and economists expect to begin cooling in the face of higher interest rates, jeopardizing those historic gains. The 0.7 percentage point decline in the African American unemployment rate was the largest since November 2021 and was led by Black women, for whom joblessness dropped to a record low 4.2%. The rate for Black men ticked up to 5.2% from February's record-low-matching 5.1%. Net flows into the labor market and the labor force participation rate are both improving, developments that research shows come along late in the employment cycle. In every U.S. recession since the 1970s the Black unemployment rate has risen by at least 2 percentage points more than for whites, and often by far more than that.

Since 1977, the Federal Reserve has focused on creating maximum employment and maintaining stable prices, commonly known as the dual mandate. "[Maximum employment is] this more sort of amorphous thing," Rucha Vankudre, a senior economist at labor market analytics firm Lightcast, told CNBC. However, at the Federal Open Market Committee news conference in January 2022, Federal Reserve Chairman Jerome Powell announced that "labor market conditions are consistent with maximum employment." Maximum employment is also difficult to quantify because existing measures of employment, such as the unemployment rate or the labor force participation rate, often do not account for certain groups of people. Watch the video above to learn more about what maximum employment really means and how inflation impacts employment.

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