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☆ UK economy flatlines as real estate activity drops
▼ + stars: | 2023-11-10 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Britain’s economy stagnated in the third quarter — its weakest performance in a year — as activity in the real estate sector fell, weighed down by high interest rates. The real estate sector — which accounts for 13% of UK economic output and is particularly sensitive to higher borrowing costs — has taken a knock this year. The data — which measures how efficiently the economy is making use of labor and capital — showed that UK productivity had barely improved since 2007. “Britain is a stagnation nation that has struggled to secure sustained economic growth since the financial crisis,” James Smith, research director at the Resolution Foundation, a think tank, wrote in a note Friday. UK finance minister Jeremy Hunt is due to outline the government’s plans to boost economic growth later this month.

Persons: —, Paul Dales, ”, ” James Smith, Jeremy Hunt Organizations: London CNN, National Statistics, Bank of England, Capital Economics Locations: Halifax, Britain

☆ Campi Flegrei: Next door to Vesuvius, another Italian volcano is waking up
▼ + stars: | 2023-11-09 | by ( Barbie Nadeau | ) edition.cnn.com time to read: +13 min

The most dangerous volcanic threat in Italy right now is one you’ve probably never heard of: Campi Flegrei, or the Phlegraean Fields. The last major eruption of Campi Flegrei was in 1538, and it created a new mountain in the bay. So far in 2023 Campi Flegrei has recorded more than 3,450 earthquakes, 1,118 of which occurred in August alone. There are two hypotheses as to what could be causing the current increase in seismic activity at Campi Flegrei, according to De Natale. Vesuvius and the Campi Flegrei area.

Persons: Rome CNN —, Campi, Flegrei, Campi Flegrei, Carlo Doglioni, ”, ” Doglioni, What’s, Giuseppe De Natale, De Natale, ” De Natale, Ivan Romano, Benedetto De Vivo, ” De Vivo, Rosa Russo Iervolino, Luigi di Magistris, of Serapis, bradyseism, Christopher Kilburn, “, Stefano Carlino, ” Carlino, Salvatore Laporta, Natale, ” Natale Organizations: Rome CNN, National, of Geophysics, University of Naples, CNN, Geological Survey, Environment, volcanology, University College London Locations: Rome, Italy, Naples, Capri, Ischia, Pisciarelli, Vesuvius, Yellowstone, Long, California, Toba, Indonesia, Roman, Pozzuoli, Campi, L’Aquila, vulcanology

☆ You're probably not getting a big raise this year. But don't worry, it's for the good of the economy.
▼ + stars: | 2023-11-09 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Wage growth has slowed; average hourly earnings increased 4.1% year over year in October. That measure of wage growth has steadily slid from the almost 6% year-over-year increases in March 2022 and April 2022. Even with slowing wage growth, workers may finally be seeing their earnings catch up to the big spike in inflation. Year-over-year changes from BLS show there has been real wage growth in recent months, based on average hourly earnings outpacing CPI inflation. "I think if we continue to see wage growth moderate, hopefully inflation moderates even more, and we continue to see more workers getting more inflation-adjusted raises."

Persons: —, Julia Pollak, Lydia Boussour, Jerome Powell, Pollak, Nick Bunker, Bunker Organizations: Service, of Labor Statistics, Fed, Economics, Wells, Wells Fargo Bank, BLS, North America Locations: Wells Fargo

☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

[1/2] FILE PHOTO: People hold a rally to protest against Israel's attack on Gaza near the Israeli embassy in Tokyo, Japan October 16, 2023. From the beginning of the conflict, Japan has sought a "balanced" response, in part due to its diverse diplomatic interests in the region and its dependency on the Middle East for oil. A spokesperson for Japan's foreign ministry said it was expected that countries have different positions, but denied that G7 members were struggling to find common ground. A statement issued by G7 trade ministers from a meeting in Osaka late last month did not mention the war. Other group members have issued joint statements.

Persons: Issei Kato, Thomas Gomart, Koichiro Tanaka, Hideaki Shinoda, Israel, Benjamin Netanyahu, It's, Kunihiko Miyake, Tim Kelly, Yoshifumi, John Irish, Andrew Gray, Andreas Rinke, David Brunstromm, Steve Scherer, Miral Organizations: REUTERS, Japan, European Union, French Institute of International Relations, Israel, Health, Hamas, Tokyo's Keio University, United Nations, Tokyo University of Foreign Studies, Canon Institute for Global Studies, Washington D.C, Thomson Locations: Gaza, Tokyo, Japan, TOKYO, Britain, Canada, France, Germany, Italy, United, Israel, United States, Osaka, Russia, Ukraine, China, Iran, Paris, Brussels, Berlin, Washington, Ottawa

☆ British fiscal headroom an 'illusion' that will not leave room for tax cuts, report says
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Extra fiscal headroom as a result of higher inflation is illusory and will not give any space for tax cuts when British Finance Minister Jeremy Hunt gives a fiscal update later this month, a think tank report said on Monday. The Resolution Foundation's analysis said that higher tax receipts and lower borrowing - both a result of sticky inflation - would increase Britain's fiscal headroom by 13 billion pounds ($16.09 billion), but added this was based on "implausible" public spending plans. That higher inflation is affecting public spending. Public spending will also have to increase more than is currently forecast to protect the budgets of some ministries in real terms in the coming years, the think-tank said. "It's increasingly clear that spending plans pencilled in for after the next election cannot be delivered," Smith said.

Persons: Jeremy Hunt, James, Suella Braverman, Hannah McKay, Hunt, James Smith, Smith, Alistair Smout, Sharon Singleton Organizations: Conservative, REUTERS, British, The Bank of England, Foundation, Thomson Locations: Manchester, Britain

☆ Gen Z expect to change careers 3 times throughout their lives — once more than any other generation: survey
▼ + stars: | 2023-11-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Gen Z workers expect to change careers three times in their lives. It found that 73% of Gen Z are not afraid to take a pay cut to pursue a more fulfilling career. AdvertisementAdvertisementGen Z workers are known for their job-hopping tendencies, and a new survey has found that they expect to change their careers at least three times over their lifetimes. It found that Gen Z plans to switch careers at least three times over their working life, which is once more than any other generation before them. Gen Z are more likely to prioritize their wellbeing and happiness than other generations.

Persons: —, Gen, Gen Z, X, Gen X, Kristen Buckheit, Zers, Oliver Wyman, they're, Z, doesn't, Nick Bunker, Jeff Hyman, Rockstars, they've Organizations: Resource Solutions, Service, Solutions, Boomers, Federal Reserve Bank of Atlanta, North America, Indeed's, New York Times Locations: Millennials, Chicago

☆ Job growth slowed in October as the economy settled into a new normal
▼ + stars: | 2023-11-03 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThe US economy added 150,000 jobs in October, based on nonfarm payroll employment growth from the Bureau of Labor Statistics or BLS. That's less than September's revised job growth of 297,000. After two straight months of an unemployment rate at 3.8%, the unemployment rate rose slightly to 3.9%. Some of the industries that saw job growth from September to October included healthcare, construction, and leisure and hospitality. "The labor market remains tight, but supply and demand conditions continue to come into better balance," Powell said.

Persons: Jerome Powell, —, payrolls, Biden, Labor Julie Su, Aaron Terrazas, Nick Bunker, that's, Bunker, might've, Terrazas, Powell Organizations: Service, Bureau of Labor Statistics, BLS, Labor, That's, North America, Gross, Bureau, Board, Conference Board

☆ Five tips for Gen Xers feeling squeezed by student debt
▼ + stars: | 2023-11-02 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

That means many competing financial responsibilities, familiar to the Sandwich Generation: student debt, retirement saving, raising kids and sending them to college, and caring for elderly parents. Something has to give – which is why Gen Xers still dealing with student debt often sacrifice saving for retirement. “For those Gen X with student debt, the average amount of retirement savings is consistently lower. “These student debt repayments can last for 30 years,” says Evan Potash, a wealth management advisor with TIAA. In particular, starting in 2024, participating employers will be able to match your student loan repayments with contributions to your 401(k).

Persons: Joe Biden's, Debbie Irk, Irk, “ I’m, ”, Xer, Xers, Gen Xers, Tyler Bond, NIRS, Joe Biden’s, Evan, TIAA, “, NIRS ’ Bond, I’ve, Chris Taylor, Lauren Young, Jonathan Oatis Organizations: Baby, University of Phoenix, National Institute on Retirement Security, Sandwich, Supreme, Thomson Locations: Washington , U.S, South Bend , Indiana

☆ The Fed probably won't cut interest rates just yet — but its next move is expected to be good for Americans
▼ + stars: | 2023-10-31 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's expected to pause interest rate hikes. On Wednesday, the Federal Open Market Committee is expected to announce its next interest rate decision, and a hike probably isn't in the cards. In September, the Fed paused interest rate hikes as it continued to receive promising data on the country's economic recovery. Powell has not indicated whether a interest rate cut will come this year to get consumers further relief. AdvertisementAdvertisementEven if interest rate cuts are not on the horizon anytime soon, administration officials are confident Americans will not face a recession as they enter 2024.

Persons: It's, —, Nick Bunker, Bunker, Jerome Powell, Powell, we've, Greg McBride, we're, McBride, Janet Yellen, Joelle Gamble, Gamble Organizations: Federal, Service, Fed, North America, New York Federal, Bloomberg, White, National Economic Council Locations: Israel, Ukraine

☆ Big banks are quietly cutting thousands of employees, and more layoffs are coming
▼ + stars: | 2023-10-19 | by ( Hugh Son | ) www.cnbc.com time to read: +6 min

Michael Nagle | Bloomberg | Getty ImagesThe largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come. The moves come after a two-year hiring boom during the pandemic, fueled by a surge in Wall Street activity. "Banks are cutting costs where they can because things are really uncertain next year," Chris Marinac, research director at Janney Montgomery Scott, said in a phone interview. In the coming weeks, the bank will terminate around 1% or 2% of its employees, according to a person with knowledge of the plans. The bank has cut about 2% of its workforce this year amid a protracted slowdown in investment banking activity.

Persons: Michael Nagle, JPMorgan Chase, Chris Marinac, Janney Montgomery Scott, you'll, Goldman Sachs, Charlie Scharf's, Mike Santomassimo, Goldman, Headcount, GreenSky, we've, Morgan Stanley, James Gorman, Mark Mason, Jane Fraser's, Mason, Jamie Dimon Organizations: New York Stock Exchange, Bloomberg, Getty, JPMorgan, Federal Reserve, headcount, Bank of America, Citigroup, First, Big Locations: New York, Wells, Wells Fargo, York, First Republic

It means that the U.K.'s inflation rate remains more than three times higher than the Bank of England's target rate of 2%. The bank, though, is not expected to raise interest rates at its next policy meeting in early November, opting instead to keep its main borrowing rate unchanged at the 15-year high of 5.25%. Last month, the bank brought an end to nearly two years of interest rate rises as inflation fell from multi-decade highs above 11%. Higher interest rates, which cool the economy by making it more expensive to borrow and bearing down on spending, have contributed to bringing down inflation worldwide. The U.K. has the highest inflation rate among the Group of Seven leading industrial economies — the U.S.'s rate for example is 3.7%.

Persons: James Smith Organizations: Office, National Statistics, Bank of, Bank of England, Conservative Party, European Union Locations: Ukraine, U.S, Britain

☆ iPhone 15 sales look like they're starting off slow in China ahead of a critical holiday season
▼ + stars: | 2023-10-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

A month after Apple's latest iPhones came out, analysts and investors are starting to see signs of slow demand in China versus last year's models. Sales of Apple's iPhone 15 models in their first 17 days are down 4.5% in China versus last year, according to an estimate from Counterpoint Research. Jeffries analysts say "weak demand" in China has knocked Apple off the top spot for smartphone market share in the country. It's a tough smartphone market for everyone. "Apple, we suspect, could be down five-ish percent — and the China market is down at least 5%," Counterpoint research director Jeff Fieldhack told CNBC.

Persons: Jeffries, fretting, iPhones, Tim Cook, Apple, Jeff Fieldhack Organizations: Counterpoint Research, Max, Wall Street, Apple, Huawei, CNBC Locations: Shanghai, China, North America, Europe

☆ As Rite Aid's bankruptcy shutters drugstores, these retailers will benefit
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Rite Aid's bankruptcy is likely to be a bigger boost to retailers such as Walmart and Costco than it will be to other drugstore chains, according to UBS. And as drugstore closures accelerate, dollar stores may be able to scoop up some of the abandoned locations. Discount chains Dollar Tree and Dollar General could also benefit from drugstore closures. Dollar stores, in particular, could also expand into store fronts once operated by drugstore chains. For dollar stores, the real advantage will be the real estate left behind.

Persons: Michael Lasser, it's, Lasser, Stephen Buschbom, Buschbom, Gordon Haskett, we've Organizations: Walmart, Costco, UBS, Rite Aid, CVS Health, Walgreens, CVS, Kroger, Target, KR, Wall Street, FactSet, Albertsons, HSBC Locations: U.S

☆ Baidu says its AI is in the same league as GPT-4
▼ + stars: | 2023-10-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Chinese tech giant Baidu is officially taking on GPT-4. The new ERNIE Bot “is not inferior in any aspect to GPT-4,” Baidu’s billionaire CEO, Robin Li, told an audience at its annual flagship event. Baidu CEO Robin Li announcing an upgrade of ERNIE Bot, its generative AI chatbot. Baidu (BIDU) has been a frontrunner in China in the race to capitalize on the excitement around generative AI, the technology that underpins systems such as ChatGPT or its successor, GPT-4. The Chinese company also announced Tuesday it had updated its suite of services to integrate the latest upgrades from ERNIE.

Persons: ERNIE, ERNIE Bot “, ”, Robin Li, Li, ERNIE Bot, “, Charlie Dai, Forrester, Baidu, I’m, Goldman Sachs, Dai, JD Cloud Organizations: Hong Kong CNN, Baidu, CNN, Huawei, JD Locations: China, Hong Kong, Beijing, United States

☆ iPhone 15 demand dips in China, analysts say
▼ + stars: | 2023-10-16 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +2 min

CNN —Demand for Apple’s new iPhone 15 lineup is weaker in China than for last year’s models, according to analysts. Sales for the iPhone 15 are down 4.5% in China compared to iPhone 14 sales in the first two weeks after its launch, according to Counterpoint Research. Separately, Bloomberg reported on Monday financial firm Jefferies said iPhone 15 sales dropped by a double-digit percentage following strong customer demand for Huawei’s new Mate 60 smartphone line. That’s strong growth for Apple considering sales fell for the third consecutive quarter in August, ahead of the iPhone 15 launch. In September, the US government sought more information about the Mate 60 Pro’s 5G Kirin 9000s processor reportedly developed specifically for the manufacturer.

Persons: Jefferies, they’ve, ” Jeff Fieldhack, Fieldhack, Apple, ” Organizations: CNN, Research, Bloomberg, Huawei, Apple, Kirin Locations: China, United States

Then came the Hamas attack against Israel, which has made Netanyahu’s late October trip uncertain and put Beijing's Middle East approach to the test. China’s stated neutrality on the war has upset Israel, but Beijing may gain in the long run by forging closer ties with Arab countries, experts said. “For a while at least, Beijing’s Middle East policy is paralyzed by the war,” said Shi Yinhong, professor of international relations at Beijing-based Renmin University of China. “China’s engagement in the Middle East is set to increase during this conflict. Because we need to be the bridge.”But China's proposals to end the war have been seen as benefiting Russia.

Persons: Xi Jinping, Benjamin Netanyahu, China’s, Israel, ”, Shi Yinhong, hasn't, Zhai Jun, Zhai, ” Wang Yi, ” Wang, Antony Blinken, Wang, Maria Papageorgiou, Mohammad Eslami, “, Tuvia, ” Gering, Wang Yiwei, Dale Aluf, China's, Aluf, Yaqiu Wang, Ken Moritsugu, Wanqing Chen, Matthew Lee Organizations: WASHINGTON, —, Renmin University of China, State Department, Hezbollah, University of Exeter, University Minho, Israel, China Policy Center, Institute for National Security, Kremlin, Renmin University, Israel Global Network, Freedom, Associated Press, AP Locations: Beijing, China, Israel, U.S, Iran, Tel Aviv, Palestine, Ukraine, Xinjiang, Xi, Saudi Arabia, United States, Russia, Hong Kong, Taiwan, Communist, Riyadh

☆ These regional banks are at risk of being booted from the S&P 500
▼ + stars: | 2023-10-11 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Cooper Neill | Bloomberg | Getty ImagesThe stock sell-off that hit regional banks this year has exposed lenders including Zions and Comerica to the risk of being delisted from the Standard & Poor's 500 index. This year's regional banking crisis has already caused changes in the composition of the S&P 500, the most popular broad measure of large American companies in the investing world. Companies that no longer qualify as large-cap stocks are at heightened risk of demotion from the S&P 500. S&P guidelinesTo be considered for inclusion in the S&P 500, companies need to have a market capitalization of at least $14.5 billion and meet profitability and trading standards. The committee that decides the composition of the S&P 500 looks to minimize churn and accurately represent reference sectors, making changes only when "ongoing conditions warrant an index change," according to S&P.

Persons: Cooper Neill, Blackstone, Lincoln, Chris Marinac, Janney Montgomery Scott, Banks, Dow Jones Organizations: Comerica Inc . Bank, Bloomberg, Getty, Zions, Comerica, Lincoln National, Valley Bank, First, JPMorgan Chase, Investors, Newell Brands Locations: Dallas , Texas, First Republic, ZIons

☆ Charlie Munger trashed crypto, warned AI hype seems overblown, and talked poker and donuts at a private event. Here's an inside look at his Zoomtopia keynote.
▼ + stars: | 2023-10-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Charlie Munger panned crypto, warned about AI hype, and trumpeted Zoom at Zoomtopia last week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementCharlie Munger trashed cryptocurrencies, warned the AI buzz seems overblown, and praised Zoom for keeping him connected during his closing keynote at Zoomtopia on October 4. Craig Durr, research director at The Futurum Group:"Munger shared his seasoned perspective on crypto and AI – both of which he was skeptical about. He said communications help drive business, and business success is about focus and consistency.

Persons: Charlie Munger, Warren Buffett's, —, Eric Yuan, hasn't, Zoom, Tobi Tungl, Craig Durr, Munger, Eric Yuen, Mark Friedler, Warren Buffett, Eric Kunnen, Charlie, Melody Brue, doesn't, Eric, David Maldow Organizations: Service, Berkshire Hathaway's, CTI, Grand Valley State University, Moor Locations: Zoomtopia, cryptocurrencies, Grand

☆ Cocoa farmers face mounting challenges as El Nino rages on
▼ + stars: | 2023-10-10 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +7 min

Frequent extreme weather events caused by El Nino and climate change hurts cocoa production. According to the the latest El Nino-Southern Oscillation Outlook, El Nino is expected to last through January to March 2024, with a 71% chance it will intensify from November to January. An intensified and frequent El Nino effect could significantly reduce the amount of arable land for cocoa cultivation. watch nowAccording to a report by the Economist Intelligence Unit, a high intensity El Nino may result in severe economic disruption across Africa. The financial cost of El Nino and climate change remains unquantified for Cote d'Ivoire and Ghana.

Persons: Cristina Aldehuela, El, El Nino, Nino, Jonathan Haines, it's, Kerry Daroci, Daroci, That's, Steffany Bermudez, Bermudez Organizations: Afp, Getty, El, El Nino, Southern Oscillation, Gro Intelligence, CNBC, Cocoa, Rainforest Alliance, International Cocoa Organization ., West Africa's Cote d'Ivoire, National Oceanic, Atmospheric Administration, Economist Intelligence Unit, Cote d'Ivoire, West, Rainforest, International Cocoa Organization, Environmental Protection Agency, International Institute for Sustainable Development Locations: Asikasu, Ghana, El Nino, West, West Africa, Kerry, Brazil, Ecuador, International Cocoa Organization . Asia, Pacific, Indonesia, Papua New Guinea, West Africa's Cote, Ivory, Ivory Coast, Africa, London, New York

☆ Moderate US job growth slowdown expected in September
▼ + stars: | 2023-10-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Labor Department's closely watched employment report on Friday is also expected to show wage gains remaining elevated. Eighteen months after the Federal Reserve started raising interest rates, the labor market is only gradually easing. Labor market resilience, which is underpinning demand in the economy, raises the risk that the U.S. central bank could hike rates again by year end. Nonfarm payrolls likely increased by 170,000 jobs last month after rising 187,000 in August. Wage growth likely remained solid, with average hourly earnings forecast to have risen 0.3% after climbing 0.2% in August.

Persons: Elizabeth Frantz, Nick Bunker, Nonfarm, payrolls, Veronica Clark, Clark, Megan Way, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor, Federal Reserve, Citigroup, United Auto Workers, UAW, General Motors, Ford Motor, Chrysler, Hollywood, Babson College, Thomson Locations: Arlington , Virginia, U.S, y WASHINGTON, Tampa , Florida, Payrolls, New York, Washington ., Wellesley , Massachusetts

☆ Job growth surged in September
▼ + stars: | 2023-10-06 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The US added 336,000 jobs in September, greater than job growth in August. "It is a sign of stability, steady growth, and we are committed to making sure that all Americans share in the growth and prosperity." Leisure and hospitality saw robust job growth in September, with a gain of 96,000. Government employment soared by 73,000, with bigger gains in local and state government roles compared to the job growth for the federal government. After an increase in the unemployment rate in August as more people entered the labor force, the unemployment rate was 3.8% again in September.

Persons: —, Labor Julie Su, Nick Bunker, Julia Pollak, ZipRecruiter, Bunker, Daniel Zhao, Karin Kimbrough, Kimbrough, there's Organizations: Workers, Service, Bureau of Labor Statistics, of Labor, Labor, North America, Leisure

And if you do, you should stand with me," Sunak said, referring to what he described as 30 years of political short-termism. "It may be helpful, but it won't be sufficient" to help them win the next election. Chris Hopkins, political research director at the polling firm Savanta, said he could not see how Sunak could win. Cabinet ministers have given speeches to sparsely populated rooms and some party members have openly talked what they may do in opposition. Writing by Elizabeth Piper; editing by Kate Holton and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Sunak, Goldman Sachs, Andy Street, Suella Braverman, pollsters, John Curtice, Chris Hopkins, Savanta, Liz Truss, Nigel Farage, Steve Tuckwell, Elizabeth Piper, Kate Holton, Philippa Fletcher Organizations: Conservative, Conservatives, Labour, University of Strathclyde, European Union, Republican Party, London's Labour, Thomson Locations: MANCHESTER, England, Manchester, British, Birmingham, West Midlands, United States

☆ The sure-fire way to save America’s cities? Do what Tokyo does.
▼ + stars: | 2023-10-04 | by ( Eliza Relman | ) www.businessinsider.com time to read: +12 min

But affordability isn't an issue in the world's biggest city, Tokyo. In collectivist Japan, housing policy is designed to benefit the most people possible. Earthquakes and small homesAnother feature of the Japanese housing market is purely situational: The country is a hotspot for earthquakes. Could the US import Japanese housing policy? Japan's housing policy "is now quite well understood" among American housing advocates and scholars, he says, "whereas it was not even three years ago."

Persons: metropolises, Eric Adams, Alan Durning, Durning, Jiro Yoshida, NIMBYism, Jenny Schuetz, Yoshida, Schuetz, André Sorensen, there's, Sorensen, Nolan Gray, Impermanence, Gray, tradeoffs, Eliza Relman Organizations: US, America it's, New York City, Sightline, Pennsylvania State University, Brookings Institution, University of Toronto, Earthquakes Locations: Los Angeles, Miami, New York, San Francisco, Tokyo, it's, America, Paris, Japan, inequity, Montana, California, United States, Vienna, Amsterdam, California , Oregon, Washington

☆ Japan’s property sector sees ‘golden period’ as foreign investments surge 45%
▼ + stars: | 2023-10-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesForeign investments into Japan's real estate sector have been flourishing in the past year, buoyed by a weak Japanese yen as the country's central bank maintains its ultra-loose monetary policy. "It is a golden period of Japanese real estate," Henry Chin, head of Asia-Pacific research at CBRE, told CNBC. Foreign investors almost doubled their investment from a year ago to $2 billion in the first quarter of the year, the global real estate services company noted. According to latest data provided by CBRE, total foreign investments into Japan's real estate market has risen 45% in the first half of 2023, compared to the same period last year. The solid rebound in Japan's tourism sector following the ease in border restrictions has sparked a rise in hotel occupancies and hospitality investments, Knight Frank said in a recent September note.

Persons: Henry Chin, Chin, Koji Nato, JLL, Knight Frank, CBRE's Chin, Knight Frank's, Christine Li, David Madison Organizations: Bloomberg, Getty, CNBC, Nato LL's, Capital Markets, U.S, APAC Locations: Tokyo, Japan, Asia, Pacific, Osaka, Singapore, U.S, Canada, Magome

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