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☆ Travel news: The world’s most peaceful countries in 2023
▼ + stars: | 2023-12-02 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN —In travel news this week: the world’s leading destinations for neighborliness and tranquility, what’s trending in aircraft interiors and top picks for city getaways and Asian hotels. World’s most peaceful countriesWhat do Iceland, Denmark and Ireland have in common, other than being Northwestern European countries with oceanic climates and gorgeous, green landscapes shaped by ancient glaciers? That’s what’s promised by Lufthansa Technik’s new cabin design for the upcoming BBJ 777-9 — the private jet version of Boeing’s new widebody aircraft, the 777X.

Persons: Hong Kong’s, That’s what’s, doored, —, ” Organizations: CNN, Northwestern, for Economics, Lufthansa, Geographic, Royal Caribbean Locations: getaways, Iceland, Denmark, Ireland, Hong Kong, Belfast, Northern Ireland, Lima, Samarkand, Uzbekistan, Cairo, Angeles

[1/3] An employee hiring sign is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. So far, he said at a Boston Fed labor market conference earlier this month, measures like the employment-to-population ratio largely have not behaved differently for key racial groups, for women versus men, or among those with different education levels. Research has since tended to suggest that there may be untapped pools of labor that only become available when the job market is tight - an argument for keeping monetary policy looser than not. The labor market recovery so far has been "remarkably equitable," she said. Pandemic-era programs threw a safety net under many families, and the tight job market that has since developed helped many get a foothold, Rouse said.

Persons: Elizabeth Frantz, William M, Rodgers III, Rodgers, Torsten Slok, Jerome Powell, quartile, Chris Wheat, Cecilia Rouse, Joe Biden, Rouse, what's, we're, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights, Institute for Economic Equity, St, Louis Federal Reserve, Boston Fed, Blacks, Apollo Global Management, JPMorgan Chase Institute, Workers, Reuters Graphics, of Economic Advisers, Brookings Institution, Thomson Locations: Arlington , Virginia, U.S, joblessness

☆ German budget crisis will haunt economy for years
▼ + stars: | 2023-11-24 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

LONDON, Nov 24 (Reuters Breakingviews) - The German government is working hard to demonstrate the foolishness of the country’s iron-clad ban on large budget deficits. The budget crisis will cripple the economy for years to come, for three reasons. The debt brake, which limits structural budget deficits to 0.35% of GDP, has only been suspended for this year’s budget. Public net investment has been negative for 20 years, Marcel Fratzscher, head of the German Institute for Economic Research, has pointed out. The country is not on the cusp of a debt crisis.

Persons: Carsten Brzeski, That’s, Marcel Fratzscher, Christian Lindner, Lindner, George Hay, Streisand Neto Organizations: Reuters, Constitutional, Organisation for Economic Co, Development, ING, German Economic Institute, Public, German Institute for Economic Research, German, Germany’s, Thomson Locations: Europe, Berlin

☆ German housebuilding is collapsing — and could drag the economy down with it
▼ + stars: | 2023-11-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Fast forward two years, and German housebuilding looks like it's collapsing, putting pressure on both his hard-to-reach goal, but also the overall economy of the country. Over 22% of companies surveyed reported the cancellation of residential construction projects in Germany in October, a new record high. Expectations for the residential construction industry fell to what the Ifo described as an "exceptional low." "Things continue to go from bad to worse in Germany's construction sector. But it's also the jobs market that could be impacted by troubles in the homebuilding sector, Brzeski noted.

Persons: Soeren, Germany's Olaf Scholz, —, Cyrus de la Rubia, Carsten Brzeski, Brzeski, Klaus Wohlrabe, Wohlrabe, it's Organizations: Getty, Ifo Institute for Economic Research, Hamburg Commercial Bank, German Federal, Office, ING, CNBC, European Central Bank, ECB, European Commission Locations: downtown Wittenberg, Germany, Hamburg

☆ German Court Says Government Cannot Shift Covid Funds to Climate Projects
▼ + stars: | 2023-11-15 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +2 min

Why It Matters: A Restraint on Germany’s Green Ambitions. The Climate Transformation Fund has €212 billion dedicated to projects from 2024 to 2027. The court ruled that it must now be reduced by €60 billion, the money added from unused pandemic funds. Heart of the Issue: Germany’s ‘Debt Brake’Germany is the only leading industrial economy to have a so-called debt brake written into its constitution. “The circumvention of the debt brake is becoming increasingly absurd,” said Marcel Fratzscher, head of the German Institute for Economic Research, a Berlin-based think tank.

Persons: ”, Marcel Fratzscher, — Organizations: €, German Institute for Economic Research, Social Democrats, Greens, Free Democrats Locations: Germany, Berlin, Ukraine

☆ What Is a Soft Landing?
▼ + stars: | 2023-11-02 | by ( Aly J. Yale | ) www.wsj.com time to read: +4 min

But whether the central bank can meet its dual-objectives of slowing price growth and avoiding a recession—dubbed a “soft landing” by economists—remains to be seen. Threading that needle has proven to be quite elusive.”What is a soft landing? “The alternative to a soft landing is a hard landing,” Cirksena says. “How ‘soft’ that ‘soft landing’ is among citizens could vary widely,” he says. Will the Fed achieve a soft landing this time?

Persons: Aly J, —, ”, David Johnston, Bank of Japan —, Aaron Cirksena, you’ll, ” Cirksena, Peter C, Earle, Jerome Powell, “ Organizations: Yale, Federal Reserve, Wealth Management, European Central Bank, Bank of, MDRN, American Institute for Economic Research, Fed, Bank of America, Wall Street, National Bureau of Economic Research Locations: Flemington, N.J, U.S, Bank of Japan, Annapolis, Md

☆ WhatsApp clampdown highlights video call compliance threat for finance firms
▼ + stars: | 2023-10-18 | by ( Sinead Cruise | ) www.reuters.com time to read: +7 min

Video calls are broadly considered proxies for face-to-face meetings and therefore are currently subject to little or no formal record-keeping obligations. At least two major global banks are now recording Zoom calls, said sources with knowledge of the matter, who declined to be named because the information is not public. One bank is recording Zoom calls undertaken by certain staff, including traders, while the other is recording all Zoom calls so content can be reviewed later if needed. FINRA declined to comment on how many firms were subject to the rule or whether the rule also extended to video calls. Video calls pose "unique risks" and technology needed to efficiently screen video calls is not widely used, said Matt Smith, CEO of communications surveillance firm SteelEye.

Persons: Dado Ruvic, Brad Levy, Morgan, Goldman Sachs, Matthew Nunan, Gibson, Dunn, Morgan Stanley, Sarah Pritchard, Claire Garrett, Michael Watling, Seward, FINRA, Matt Smith, Ryan, Yonk, Symphony's Levy, Chris Prentice, Michelle Price, Huw Jones, Sharon Singleton Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Finance, Reuters, U.S, EMEA, Microsoft, Britain's, Authority, HSBC, Bloomberg, U.S . Financial Industry Regulatory Authority, Employees, American Institute for Economic Research, Washington D.C, Thomson Locations: Marsh, U.S, New York, Washington, London

☆ Save like a boomer: Younger generations have a chance to make high interest rates work for them
▼ + stars: | 2023-10-17 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Interest rates on traditionally "safer" investments like Treasury bonds are high. Economist Thomas Hogan of the American Institute for Economic Research recently pointed out this upside to the interest rates and how it is helping Americans. "Now, interest rates on US Treasury bonds are at the highest in more than a decade, giving savers a safe, stable place to store their money." If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the fed funds rate. However, to the extent that strength in the economy is behind the increase in long-term interest rates, the FOMC may need to do more."

Persons: —, Thomas Hogan, Hogan, Jerome Powell, Kevin Dietsch, Tim Hayes, Lorie Logan, Logan Organizations: Service, Treasury, American Institute for Economic Research, Federal, NDR, U.S, Supreme, Dallas Locations: Israel

☆ German GDP expected to contract by 0.6% this year, economic institutes say
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Business sentiment has recently deteriorated again and overall, the indicators suggest that production fell noticeably in the third quarter of 2023, the economic institutes said. GDP is expected to shrink by 0.4% in the third quarter, following stagnation in the second quarter. For 2024, the institutes - four German and one Austrian - forecast GDP growth of 1.3%, down from 1.5% previously. In the following years, a decreasing potential growth rate due to the shrinking labour force will become more and more apparent, the economic institutes said. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halley Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

Persons: Kai Pfaffenbach, Oliver Holtemoeller, Maria Martinez, Friederike Heine Our Organizations: REUTERS, Rights, Reuters, Halle Institute for Economic Research, Ifo Institute, Halley Institute for Economic Research, Kiel Institute, Institute for Economic Research, Austrian Institute of Economic Research, Thomson Locations: Frankfurt, Germany

Growth of 0.3% had been expected in the institutes' spring forecasts. The so-called Joint Economic Forecasts are to be presented in Berlin on Thursday. The economics ministry usually updates its forecasts incorporating the results of the Joint Economic Forecasts. For 2024, the institutes - four German and one Austrian - forecast GDP growth of 1.3%, down from 1.5% previously. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halle Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

Persons: Annegret, Christian Kraemer, Rene Wagner, Maria Martinez, Rachel Armstrong, Kirsti Knolle, Sharon Singleton Organizations: REUTERS, Rights, Reuters, Ifo Institute, Halle Institute for Economic Research, Kiel Institute, Institute for Economic Research, Austrian Institute of Economic Research, Thomson Locations: Berlin, Germany

The Viking Star cruise ship is moored at Greenwich with the City of London financial district in the distance, in London, Britain, August 29, 2023. It is absolutely the time for action over words," Alasdair Haynes, CEO of Aquis Exchange, a share trading platform, and chair of financial industry body TheCityUK's Business Council, told Reuters. The main problem for trade bodies is the vast scope of Britain's financial services industry, with each sub-sector and TheCityUK presenting their own reform priorities and ideas, often overlapping. In the meantime, top financial sector executives running global teams of bankers and traders are increasingly bewildered by Britain's inability to make faster progress on a matter of such economic significance. ELECTION LOOMINGSome senior financial industry sources say politics may hamper the City's reform agenda even further, with a general election expected next year.

Persons: Kevin Coombs, Alasdair Haynes, Jeremy Hunt, Nicholas Lyons, TheCityUK, ” Samuel Gregg, Richard Gardner, Huw Jones, Sinead Cruise, Hugh Lawson Organizations: Viking, City, REUTERS, London’s, Mayor, European Union, Aquis, Business, Reuters, Finance, stoke, of, Arm Holdings, Labour, Conservative, American Institute for Economic Research, Investment Funds Association, EU, Thomson Locations: Greenwich, London, Britain, Europe, Asia, United States, Edinburgh, of London, New York, Amsterdam, City, France

☆ Is Arm Holdings a smart way to play the booming AI market? Experts break down 2023's biggest IPO, and why you should invest with caution.
▼ + stars: | 2023-09-14 | by ( Mark Reeth | ) www.businessinsider.com time to read: +9 min

Arm Holdings, the British semiconductor and software maker, is set to go public on Thursday in the biggest initial public offering of 2023. This isn't the first time Arm shares have been available to the public. In its F-1 filing to go public, Arm said its CPUs "run the vast majority of the world's software." That would make Arm stock impressively expensive compared to peers in the tech sector. That said, while Arm shares are looking expensive today, if the company lives up to its high expectations, then the price begins to look more reasonable.

Persons: SoftBank, Arm, it's, Seth Farbman, ARM's, Farbman, Matt Bryson, he's, Bryson, Peter C, Earle, We've, It's Organizations: Arm Holdings, Bank of America, SoftBank, Taiwan Semiconductor Manufacturing, Nvidia, ARM, Apple, Google, AMD, Samsung, VStock, Intel, Wedbush Securities, American Institute for Economic Research, IPOs, China Arm's Locations: China

☆ Recognizing the rights of climate refugees is the first step to relocating the millions of vulnerable island-nation residents who could be displaced in the next 3 decades
▼ + stars: | 2023-09-13 | by ( Christine Jean-Baptiste | ) www.businessinsider.com time to read: +9 min

This article is part of "Journey Toward Climate Justice," a series exploring the systemic inequities of the climate crisis. By 2050, the World Bank estimates that climate change could force 216 million people to be displaced from their homes within their own countries. Climate change is thought to be one of several contributors to the wildfires — as droughts increased in the region, vegetation dried, creating dry conditions conducive to fires. Migration and the climate crisis are inextricably linked, climate experts say. "People shouldn't be forced to leave home because of climate change," Francis said.

Persons: Peace, Ama Francis, PATRICK T, FALLON, Kaniela Ing, Ing, Adelle Thomas, ProPublica, Tamir Kalifa, Francis, Thomas, Kayly Ober, Hurricane, Scott Olson, Hurricane Dorian, Trump, Mark Morgan, Donald Trump, Biden, Ike, Hanna, Gideon Mendel, Corbis, shouldn't Organizations: Bank, Service, Institute for Economics, International Refugee Assistance, University of the, New York Times, The Washington, Getty, Refugee, US Institute of Peace, Border, Assistance Locations: Caribbean, Pacific, Maui, Hawaii, University of the Bahamas, Lahaina, Bahamas, Marsh Harbour, United States, Haiti

☆ Russia wants to recruit 420,000 soldiers despite the country being crippled by labor shortages, UK intel says
▼ + stars: | 2023-09-11 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Russia is hoping to draft 420,000 military personnel by the end of the year, according to UK Intelligence. But Russia has worsening labor workforce shortages back home, one Russian survey said. The UK MOD said Russia's conscription has "negative effects on its industry workforce". The UK MOD pointed out that Medvedev's figure cannot be independently verified. "This shows that mobilization and conscription within Russia has worsened non-defence workforce shortages," it said.

Persons: Dmitry Medvedev Organizations: Intelligence, MOD, Service, Gaidar Institute for Economic, British Ministry of Defence, Russia's Security, Reuters, —, Russian, Kommersant, Washington Post Locations: Russia, Wall, Silicon, Ukraine, Russian

☆ Home in a box: Rethinking disaster relief, IKEA style
▼ + stars: | 2023-08-31 | by ( Marianna Cerini | ) edition.cnn.com time to read: +9 min

Rather than sending tents, however, Indian nonprofit SEEDS partnered with Sweden’s Better Shelter to distribute over 100 of its IKEA-inspired temporary houses. Like IKEA furniture, Better Shelter’s homes come in flat packages that can be easily shipped and assembled in a matter of hours, without the need for tools or electricity. Each unit comprises a modular frame and is completed using local materials, such as bamboo or timber, before being equipped with a lockable door and solar-powered lamp. Sahiba Chawdhary/Better ShelterKarlsson began developing the concept for Better Shelter’s housing as a freelance designer in 2010, when a small aid project asked him to improve the design of its disaster relief tents. Sahiba Chawdhary/Better ShelterScalable, adaptable and localIn 2021, Better Shelter introduced its latest modular design: Structure.

Persons: CNN —, Gita Kumari Bhumik, ” Bhumik, Kumari Bhumik, Chawdhary Bhumik, It’s, ”, Johan Karlsson, “, Karlsson, you’re, we’ve, ” Karlsson, Sahiba, Geeta Bhumik, it’s Organizations: CNN, IKEA, IKEA Foundation, UN, decarbonization, UNHCR, for Economics & Peace, Better Locations: India’s, Assam, Indian, Assam's Kalain, Swedish, Ethiopia, Iran, Kenya, Afghanistan, Rwanda, Ecuador, Netherlands, Sydney

☆ Why some are calling the German economy 'the sick man of Europe'
▼ + stars: | 2023-08-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —It’s been nearly two decades since Germany shrugged off its “sick man of Europe” label with a series of labor market reforms that ushered in years of economic outperformance. Sticky inflation and three straight quarters of falling or stagnating output have put Europe’s biggest economy in the doldrums. “Sticky” inflation is eroding Germans’ purchasing power, fueling “pessimism among households,” according to Thomas Obst, senior economist at the Cologne Institute for Economic Research. “[German] industrial order books have emptied over the last 12 months,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN. “Germany is in a very singular position.”Bright spotsHolger Schmieding, the economist who first called Germany the “sick man of Europe” in 1998, thinks the “current wave of pessimism” over its economy is overdone.

Persons: London CNN — It’s, Stefan Kooths, Europe ”, Kooths, Thomas Obst, Obst, ”, Klaus Wohlrabe, Frank Soellner, ” Carsten Brzeski, Sam Reeves, Brzeski, David Hecker, Holger Schmieding, Schmieding, “ Organizations: London CNN, International Monetary Fund, Kiehl Institute, Cologne Institute, Economic Research, CNN, European Central Bank, ifo, Volkswagen, Siemens, Global, ING, Getty, China Locations: Germany, Europe, Berlin, ifo, Bad, China, Duisburg, AFP, Ukraine, Australia, France

Moscow's actions have deprived many foreign investors of the ability to trade in Russian securities, including depositary receipts. Investors are worried about future copycat actions by other governments who might look to reduce foreign influence over their leading companies. Depositary receipts, or DRs, are certificates issued by a bank representing shares in a foreign company traded on a local stock exchange. But events in Russia have forced many investors to write down the value of depositary receipts of Russian companies to zero, given their inability to trade them. CONSEQUENCESLoss of confidence in DRs could drain needed foreign capital from firms in emerging economies, for instance.

Persons: Dado Ruvic, Peter C, Earle, Christopher Day, Michael Ashley Schulman, Goldman Sachs, III, Detsky Mir, Goldman, Otkrytie, Schulman, Grzegorz Drozdz, Malcolm Dorson, Sinead Cruise, Carolina Mandl, David Gregorio Our Organizations: REUTERS, Global, American Institute for Economic Research, Reuters, Citigroup, Companies, Citi ., Reuters Graphics, DR, Investors, Doliver Advisors, Running, Capital Advisors, Conotoxia, Russian, Thomson Locations: Moscow, Ukraine, Brazil, China, Russia, GDR, GDRs, United States, Britain, London, Carolina, New York

☆ Russia's so desperate for soldiers that it's offering a $5,200 sign-on bonus to recruit from neighboring Kazakhstan
▼ + stars: | 2023-08-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Russian military is trying to recruit from neighboring Kazakhstan amid a manpower crunch, per Reuters. It's offering a $5,200 sign-on bonus, a salary of at least $2,000, and other benefits to Kazakh recruits. Russia's economy is also facing a manpower crunch amid the Ukraine war. However, the Kazakh government has not supported Russia's war in Ukraine and has urged for peace. The surveys found 42% of Russian industrial enterprises experienced a manpower crunch in July.

Persons: It's, Vladimir Putin's, Putin Organizations: Reuters, Service, Kazakhstan —, RBC, Gaidar Institute for Economic Policy Locations: Kazakhstan, Ukraine, Wall, Silicon, Russia, Moscow, Russian, Soviet, Kazakh, Sakhalin

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Shares of Tupperware Brands (TUP.N) surged 44% on Friday, after the kitchen storage container maker finalized a debt restructuring deal as it attempts a turnaround of its business, reinvigorating retail investors' interest in the company. It was the seventh most traded stock by retail investors at 10:00 a.m. The share gains were reminiscent of eye watering "meme stocks" rallies, where retail investors coordinate on social media and typically focus their speculative bets on companies that were financially struggling or had high short interest. Tupperware was the second most actively traded single stock by retail traders over the past week, according to a J.P.Morgan note.

Persons: Brendan McDermid, Tupperware, Bartosz, stocktwits.com, Peter Earle, Medha Singh, Savyata Mishra, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tupperware Brands, American Institute for Economic Research, American, Corp, Thomson Locations: New York City, U.S, Florida, Bengaluru

"The culture wars are coming to UK businesses, including the financial sector," said Andre Spicer, dean of City University's Bayes Business School. It also cited "risk factors including... controversial public statements which were felt to conflict with the bank's purpose". However, data from watchdog the Financial Ombudsman Service showed complaints about account closures represented a tiny fraction of a bank's overall customer base. Experts say other banks will now be scrambling to ensure their own policies and committees are behaving appropriately, to avoid further scandals. The CEO of Britain's biggest domestic bank Lloyds said on Wednesday the bank's own policies did not include looking at customers' political or personal beliefs.

Persons: Nigel Farage, Coutts, Andre Spicer, Howard Davies, Alison Rose, Rose, Peter Flavel, Charles Dickens, Queen Elizabeth II, Spicer, Harriet Baldwin, Bill Winters, Samuel Gregg, Banks, Gregg, University's Spicer, Rupert Younger, ", Sinead Cruise, Iain Withers, Lawrence White, Daniel Wallis Organizations: Brexit Party, NatWest, Bayes Business School, Coutts, Treasury, Bank of England, BBC, Standard Chartered, Farage, American Institute for Economic Research, Facebook, Financial, Service, Barclays, Lloyds, Centre, Oxford University's Said Business School, Thomson Locations: America

☆ Moderate US economic growth expected in second quarter
▼ + stars: | 2023-07-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

According to a Reuters survey of economists, GDP growth likely increased at a 1.8% annualized rate last quarter after rising at a 2.0% pace in the first quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, likely remained a pillar of support, although the pace of growth slowed from the second quarter's robust 4.2% rate. Further contribution to GDP growth was expected from government spending. Inventory investment is a wild card, though most economists are penciling in a contribution to GDP growth of at least five tenths of a percentage point. Business sharply reduced inventory accumulation in the January-March quarter in anticipation of weaker domestic demand, slicing 2.14 percentage points off GDP growth that period.

Persons: Dean Maki, they're, Mike Skordeles, Joe Biden's, Sean Snaith, Richard de Chazal, William Blair, Lucia Mutikani, Andrea Ricci Organizations: Federal Reserve, Point72, Management, Labor Department, Truist Advisory Services, Investment, University of Central Florida's Institute, Economic, Fed, Thomson Locations: WASHINGTON, U.S, Stamford , Connecticut, Atlanta, United States, London

☆ Why the Fed wants a good inflation report — but not a good jobs report
▼ + stars: | 2023-07-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

On the job market, indications like the latest jobs report — which showed that fewer Americans are getting hired — can be interpreted as bad news. As of the latest Job Openings and Labor Turnover Survey, or JOLTS, there were 1.6 jobs available for every job seeker — or more than 3 million job openings than people searching for jobs. What’s good news for investorsInvestors are searching for signs that the Federal Reserve will stop hiking interest rates, or better yet, cut them. When the Fed raises interest rates it raises the cost of doing business for companies who rely on outside funding. That’s because interest rates on loans tend to rise in tandem with increases in the Fed’s benchmark interest rate.

Persons: —, It’s, that’s, ”, Sean Snaith, Snaith, Jerome Powell, Kermit Schoenholtz, Powell Organizations: New, New York CNN, Federal, Fed, Institute for Economic, University of Central, Labor, Survey, Kermit Schoenholtz , New York University, Citigroup, CNN, Investors, Federal Reserve Locations: New York, University of Central Florida, Kermit Schoenholtz , New

☆ US job gains smallest in 2-1/2 years; labor market still tight
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. Government employment remains 161,000 below its pre-pandemic levels. Leisure and hospitality employment remains 369,000 below its pre-pandemic levels. The household survey from which the unemployment rate is derived showed employment rebounding 273,000, reversing the 310,000 decline in May. Reuters Graphics"Though demand for labor remains unmatched, the labor shortages that employers sighed over a year ago have definitely subsided some," said Andrew Flowers, lead labor economist at Appcast.

Persons: Sean Snaith, payrolls, Selcuk Eren, Andrew Flowers, Lucia Mutikani, Daniel Wallis, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor, University of Central Florida's Institute, Economic, Reuters, Manufacturing, Institute for Supply, Treasury, Companies, Conference Board, Thomson Locations: WASHINGTON, U.S, Washington

☆ Ukrainian refugees: how will the economy recover with a diminished population?
▼ + stars: | 2023-07-07 | by ( Olena Harmash | ) www.reuters.com time to read: +8 min

In previous refugee crises, for example in Syria, refugees' desire to return home has faded with time, UNHCR studies show. Conscription-aged men are restricted from leaving Ukraine, so working-aged women, and children, make up the majority of refugees. Ukraine's population problem goes beyond millions of refugees. A census in 2001 - the country's only so far - recorded a population of 48.5 million. Demographer Libanova estimated the population at between 28 million and 34 million at the start of 2023 in parts of the country controlled by Kyiv.

Persons: Korzh, Volodymyr Kostiuk, Kostiuk, It's, Dmytro Tsygankov, Ella Libanova, Libanova, Ksenia Karpenko, Karpenko, Corina Rodriguez, Catarina Demony, Mike Collett, White, Frank Jack Daniel Our Organizations: United Nations, UNHCR, Kyiv, for Economic Research, Political, for Economic, MEN, National Academy of Science, European Commission's, Research, The, Economic Strategy, Reuters, Thomson Locations: KYIV, Europe, Kyiv, Portugal, Ukraine, Lagoa, Syria, Ukrainian, Moscow, Russia, Crimea, Belarus, Russian, Tarragona, Spain, Madrid, Barcelona, Lisbon

☆ German Government Slashes Spending, Except on the Military
▼ + stars: | 2023-07-05 | by ( Melissa Eddy | ) www.nytimes.com time to read: +2 min

Why It Matters: Germany has long neglected military spending. Despite intense pressure from the United States, Germany last spent 2 percent of its G.D.P. on defense in 1991, a year after the reunification of the former East and West German nations, according to statistics from the World Bank. The United States is using incentives, including tax breaks, to lure businesses in the green energy and technology sectors. “Germany is increasingly falling behind when it comes to investment and location decisions,” said Tanja Gönner, general director of the German Federation of Industries.

Persons: Marcel Fratzscher, Lindner, ”, Tanja Gönner Organizations: World Bank, German Institute for Economic Research, German Federation of Industries Locations: Germany, United States, West, Russia, Ukraine

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