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The Latest Breaking News from Economy

The economy added 315,000 jobs, showcasing a labor market that is still strong

U.S. employers added 315,000 jobs in August, while the unemployment rate rose to 3.7% from 3.5% in July. A tight job market gives workers more bargaining power, but it may also fuel inflation.

WEKU

US added 315,000 jobs in August as strong market defies signs of worsening economy

Numbers come as Jerome Powell says Federal Reserve intends to continue interest rate hikes to try to tamp down inflation

The Guardian - US

‘Trust me to help deliver for London where Mayor has failed’

Liz Truss outlines how London would be transformed under her leadership

Evening Standard

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Saudi Arabia Seeks to Support Future Economies, Bridge Digital Divides

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, said on Thursday the Kingdom has taken bold steps to support future economies and innovation. The minister revealed efforts to bridge the digital divide and to foster green energy projects in the northwestern NEOM region. He stressed that the Kingdom’s…

Asharq Al-Awsat

A 'Union dividend'? Here's what this year's GERS figures actually mean

LAST week the Scottish Government released their yearly Government Expenditure and Revenue Scotland (GERS) report, the most intensely discussed set…

The National (Scotland)

Liz Truss: Let’s unleash the power of London

Exclusive: Liz Truss promises bold action to boost economy and tackle crime

Evening Standard

Long-term visa applications officially open

The Board of Investment has officially begun accepting applications for long-term resident (LTR) visas for wealthy and high-potential foreigners who are expected to make big contributions to the economy.

Bangkok Post

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Foreign investment to July up 65%

Approved foreign direct investment (FDI) rose 65% to 74 billion baht in the first seven months of the year, from the same period a year earlier, a government spokesman said on Friday, describing the trend as a sign of confidence in the economy.

Bangkok Post

Commentary: Could a return of the lost workers avert a recession?

There’s not much good to say about the U.S. economy today, with out-of-control inflation eroding household incomes and Americans bracing for a recession after gross domestic output shrunk in the first half of 2022.

Tribune News Service

Chinese City of 21 Million Shuts Down over Covid Outbreak

Around 21 million people in the Chinese city of Chengdu effectively went into lockdown on Thursday as authorities raced to snuff out a new Covid-19 outbreak. China is the last major economy wedded to a zero-Covid policy, stamping out virus flare-ups with snap shutdowns, mass testing and lengthy quarantines, AFP…

Asharq Al-Awsat

FTSE 100 Live: US payrolls growth eases, helping global stocks and cooling the dollar

The pound is finding some relief as traders mull the implications of jobs figures from the US economy, which have boosted the mood on global stock markets, helping the FTSE rise over 1% at the end of a rough week.

Evening Standard

Crisis-hit Zambia secures $1.3bn IMF loan to rebuild stricken economy

Years of mismanagement have led to soaring debt levels, but critics say that without meaningful relief, austerity will continue

The Guardian - UK

Pension rules relaxed for senior workers

The jobs and skills summit has settled on 36 "concrete" steps including a measure to allow pensioners to work extra hours without losing their payments.

AAP

China diplomacy key to green steel bonanza

Energy-hungry industries get little advantage from Australia being richly endowed with gas and coal, but mining and steelmaking could win in a net-zero economy.

AAP

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Chicago Sun-Times

America’s getting back to work, and that includes Illinois

Since Joe Biden took office, we’ve added 9.5 million jobs to the economy. The unemployment rate has plunged to 3.5%, matching a 53-year low.

Salon

Long COVID has put 4 million out of work

A new study reckons with the incredible economic impact of long COVID, which has erased over 2% of the workforce

The Conversation

Why the aviation industry must look beyond carbon to get serious about climate change

Commercial aviation has become a cornerstone of our economy and society. It allows us to rapidly transport goods and people across the globe, facilitates over a third of all global trade by value, and supports 87.7 million jobs worldwide. However, the 80-tonne flying machines we see hurtling through our skies…

The Independent UK

Fed is hoping August hiring report will show slowdown

Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it

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The Guardian - UK

German civil servants investigated over ‘spying for Russia’

Officials linked to energy supply suspected of trying to obstruct economic policies, reports Die Zeit

Los Angeles Times

Is a recession coming? How to make the most of your paycheck

The economy is weird right now.

Newslaundry

‘Fantastic number’: TV anchors miss the nuance in 13.5% GDP growth

The Indian economy grew by 13.5 percent in the April-June quarter of 2022, according to data released by the National Statistical Office on Wednesday. This figure may sound impressive, especially given the dismal numbers over the past two years, but there is more than meets the eye.

The New Daily

Summit’s lack of focus is partly the point: Three takeaways from a talkfest

Thursday's talkfest on the nature of employment in the Australian economy was dazzling for the diversity of its contributions.

AAP

Policy shock to set up prosperity: Garnaut

Renowned economist Ross Garnaut says Australians need to stop "kidding themselves about how well our economy is performing" as he calls for reform.

Axios

Janet Yellen kicks off month-long economic victory tour to sell Biden's achievements

The Treasury secretary plans to spend some of her intellectual capital to make the case for Biden's economy.

Asharq Al-Awsat

Türkiye’s Economy Grows 7.6% in Q2 2022

Türkiye’s economy grew 7.6% year-on-year in Q2 2022 as expected, extending a hot streak on strong domestic demand and exports, according to new data on Wednesday. Gross domestic product (GDP) expanded 2.1% compared with the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TurkStat) data showed. A…

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